Books and journals Case studies Expert Briefings Open Access
Advanced search

Search results

1 – 10 of over 143000
To view the access options for this content please click here
Article
Publication date: 26 August 2020

Impact of economic sentiment and economic policy uncertainty on travel and leisure stock return

Abobaker Al.Al. Hadood and Farid Irani

This paper considers the role of economic sentiment and economic policy uncertainty (both domestic and European) in explaining the changes in the contemporaneous and…

HTML
PDF (1.2 MB)

Abstract

Purpose

This paper considers the role of economic sentiment and economic policy uncertainty (both domestic and European) in explaining the changes in the contemporaneous and future travel and leisure stock index returns in top European Union (EU) tourism destinations, namely, in France, Germany, Spain and the UK.

Design/methodology/approach

The authors conducted the ordinary least square (OLS) regression estimations to investigate the impact of changes in economic sentiment and economic policy uncertainty on travel and leisure stock returns. Furthermore, the authors used predictive regressions to determine whether economic sentiment and economic policy uncertainty are useful predictors over the short- or medium-term for travel and leisure stock returns.

Findings

Empirical results revealed that, in France and Spain, the changes in regional economic sentiments predominantly and positively affected travel and leisure stock index returns. Also, results indicated that changes in European economic sentiment have a strong positive effect on the future travel and leisure stock returns in Spain and the UK over the short run, while in France, changes in European economic policy uncertainty have a weak negative effect on the future travel and leisure stock returns over the medium-term.

Research limitations/implications

This paper provides valuable practical implications for investors who trade travel and leisure stocks. Traders can use economic sentiment and economic policy uncertainty to establish arbitrageur strategies.

Originality/value

This study is the first to examine the effects of economic sentiment and economic policy uncertainty (both domestic and European) on contemporaneous and future travel and leisure stock returns in a top European tourism destination.

Details

Journal of Hospitality and Tourism Insights, vol. 4 no. 1
Type: Research Article
DOI: https://doi.org/10.1108/JHTI-05-2020-0070
ISSN: 2514-9792

Keywords

  • Economic sentiment
  • Economic policy uncertainty
  • Hospitality industry
  • Macroeconomic variables
  • Stock returns

To view the access options for this content please click here
Book part
Publication date: 26 November 2019

Joint Estimation of Fiscal Policy, Income Inequality, Trade and Economic Growth: Evidence from Emerging Market Economy

Dipyaman Pal, Chandrima Chakraborty and Arpita Ghose

The present study aims to determine the existence of simultaneous relationship between economic growth, income inequality, fiscal policy, and total trade of the 13…

HTML
PDF (107 KB)
EPUB (4.8 MB)

Abstract

The present study aims to determine the existence of simultaneous relationship between economic growth, income inequality, fiscal policy, and total trade of the 13 emerging market economies as a group for the period 1980–2010. After establishing the existence of simultaneity between the above relationships, a simultaneous panel model has been formulated and estimated incorporating the nonlinearity among the variables as suggested by the existing literature. An inverted U-shape relationship is evident between (1) economic growth, income inequality, and total trade in economic growth equation, (2) income inequality, economic growth, and per capita income in income inequality equation, and (3) total trade and economic growth in total trade equation. Thus, the existence of a two-way nonlinear relationship is highlighted between economic growth, income inequality, and total trade. Apart from these nonlinear relationships, positive and significant effect of (1) gross capital formation, inflation, population growth, human capital, fiscal policy, monetary policy, and domestic credit to private sector on economic growth; (2) civil liabilities on income inequality; (3) gross capital formation and inflation on total trade; (4) total trade, population growth of those aged 65 years and above, political system on fiscal policy is highlighted. Also, negative and significant effect of (1) fiscal policy on income inequality and (2) income inequality on fiscal policy is revealed.

Details

The Gains and Pains of Financial Integration and Trade Liberalization
Type: Book
DOI: https://doi.org/10.1108/978-1-78973-999-220191014
ISBN: 978-1-83867-004-7

Keywords

  • Economic growth
  • fiscal policy
  • income inequality
  • simultaneous determination
  • total trade
  • emerging market economics
  • C51
  • O47
  • O57

To view the access options for this content please click here
Book part
Publication date: 24 May 2007

Managing Conflict in Economic Convergence of Regions in Greater Europe

Frederic Carluer

“It should also be noted that the objective of convergence and equal distribution, including across under-performing areas, can hinder efforts to generate growth…

HTML
PDF (6.7 MB)

Abstract

“It should also be noted that the objective of convergence and equal distribution, including across under-performing areas, can hinder efforts to generate growth. Contrariwise, the objective of competitiveness can exacerbate regional and social inequalities, by targeting efforts on zones of excellence where projects achieve greater returns (dynamic major cities, higher levels of general education, the most advanced projects, infrastructures with the heaviest traffic, and so on). If cohesion policy and the Lisbon Strategy come into conflict, it must be borne in mind that the former, for the moment, is founded on a rather more solid legal foundation than the latter” European Commission (2005, p. 9)Adaptation of Cohesion Policy to the Enlarged Europe and the Lisbon and Gothenburg Objectives.

Details

Managing Conflict in Economic Convergence of Regions in Greater Europe
Type: Book
DOI: https://doi.org/10.1016/S1572-8323(06)03001-3
ISBN: 978-1-84950-451-5

Content available
Article
Publication date: 2 December 2019

Differentiation of economic and financial cycles and the logic of China’s monetary policy reform

Conglai Fan and Gao Jiechao

In recent years, with the gradual differentiation of economic and financial cycles, it has been increasingly difficult for monetary policies to remain balanced in…

Open Access
HTML
PDF (241 KB)

Abstract

Purpose

In recent years, with the gradual differentiation of economic and financial cycles, it has been increasingly difficult for monetary policies to remain balanced in stabilizing both economy and finance. Taking the period of 1999–2017 as a sample, the purpose of this paper is to find whether the synergy between the growth cycle and the price cycle is constantly improving in the economic cycle is more appropriate.

Design/methodology/approach

The key to stabilizing the economic cycle lies in the monetary policy and it should abandon the goal of boosting growth in a timely manner and turn into the goal of maintaining steady growth. At present, quantitative monetary policy is still more effective than price-oriented monetary policy in smoothing the economic cycle.

Findings

The impact of quantitative regulation on the financial cycle is more neutral, whereas price regulation will increase the volatility of price and financial cycles in the course of smoothing the growth cycle. In view of the continuous differentiation between the economic and financial cycles, it is realistic and reasonable to accelerate the establishment of a sound dual-pillar regulatory framework of “monetary policy and macro-prudential policy.”

Originality/value

The macro-prudential policy is specially used to smooth the financial cycle, so as to reduce the burden and increase the efficiency of the monetary policy on regulating economic cycle. Moreover, the transformation of monetary policy to price-oriented regulation must keep pace with the construction of the dual-pillar regulation framework and complement each other to prevent undesirable consequences in the financial sector. On the other hand, monetary policy still needs to rely on quantitative regulation in the future. The research in this paper also provides a new perspective for understanding the internal and external reform of China’s monetary policy in recent years.

Details

China Political Economy, vol. 2 no. 2
Type: Research Article
DOI: https://doi.org/10.1108/CPE-10-2019-0021
ISSN: 2516-1652

Keywords

  • Monetary policy
  • Economic cycle
  • Financial cycle
  • Macro-prudential policy

To view the access options for this content please click here
Article
Publication date: 1 June 1982

Aspects of Economic and Social Policies in Integrated Economies

A.G. Malliaris

The creation and growth of economic integration as an area of economics is the result primarily of practical rather than academic interest. Although economic nationalism…

HTML
PDF (1.3 MB)

Abstract

The creation and growth of economic integration as an area of economics is the result primarily of practical rather than academic interest. Although economic nationalism and antagonism still prevail as the basic form of world economic order, economic history presents us with specific examples and ambitious plans of economic co‐operation and integration. The example of the US is often cited as a classic case study in economic integration. Viner presented a detailed list of conventions, decrees, etc., concerning customs unions. The French Declaration of May 9, 1950, which led to the formation of the European Coal and Steel Community, manifested for the first time the willingness of a government to overcome old antagonisms and to adopt a programme for European integration. The Treaty of Rome and the establishment of the European Economic Community is another example of the trend towards economic integration among industrialised countries of the West, while COMECON is the primary integration attempt by various centrally planned economies of the Soviet bloc. With respect to less developed countries, the world has experienced a number of ambitious schemes such as the Latin America Free Trade Association, the Central American Common Market, the East African Community, the West African Association, the South African Customs Union, the Arab Common Market, the Southeast Asia Economic Treaty, the Andean Common Market, the Carribean Community and others.

Details

International Journal of Social Economics, vol. 9 no. 6/7
Type: Research Article
DOI: https://doi.org/10.1108/eb013924
ISSN: 0306-8293

To view the access options for this content please click here
Article
Publication date: 26 July 2013

Economic policies, macroeconomic environment and entrepreneurs' expectations: Evidence from Brazil

Gabriel Caldas Montes and Júlio Cesar Albuquerque Bastos

The purpose of this paper is to analyze the influence of macroeconomic variables and economic policies on expectations and confidence of entrepreneurs. It provides an…

HTML
PDF (158 KB)

Abstract

Purpose

The purpose of this paper is to analyze the influence of macroeconomic variables and economic policies on expectations and confidence of entrepreneurs. It provides an econometric analysis of the expectation transmission channel under inflation targeting in Brazil, emphasizing the effect of inflation targeting credibility on the business confidence of industrial entrepreneurs.

Design/methodology/approach

Based on ordinary least square (OLS), generalized method of moments (GMM) and vector autoregression (VAR), the paper provides empirical evidence about the influence of inflation targeting credibility and macroeconomic policies on expectations and confidence of entrepreneurs and, as a consequence, on industrial production.

Findings

The evidence for the Brazilian economy suggest that monetary and fiscal policies as well as the credibility of the monetary regime affect economic activity by their impact on expectations of entrepreneurs.

Research limitations/implication

Development of macroeconomic stability is important to the expectations formed by entrepreneurs and, therefore, for industrial production. In particular, inflation targeting credibility stimulates industrial production, since it increases the confidence of entrepreneurs about the functioning of the economy and their businesses.

Originality/value

The results suggest new insights about the influence of economic policies on the real side of the economy, pointing out that the conduct of economic policies in emerging countries with inflation targets are likely to affect the expectations of entrepreneurs and therefore their production decisions.

Details

Journal of Economic Studies, vol. 40 no. 3
Type: Research Article
DOI: https://doi.org/10.1108/01443581311283952
ISSN: 0144-3585

Keywords

  • Expectation
  • Entrepreneur
  • Credibility
  • Inflation targeting
  • Production
  • Brazil
  • Entrepreneurialism
  • Economic policy

To view the access options for this content please click here
Article
Publication date: 1 March 1985

German Political Economy: The History of an Alternative Economics

Tomas Riha

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and…

HTML
PDF (16.6 MB)

Abstract

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.

Details

International Journal of Social Economics, vol. 12 no. 3/4/5
Type: Research Article
DOI: https://doi.org/10.1108/eb013991
ISSN: 0306-8293

To view the access options for this content please click here
Article
Publication date: 1 August 1999

Monetary policy and the definition of money: Implications for the European Monetary Union

Peter R. Senn

The focus of this paper is the economic theory of the plans for the European Monetary Union. Part 1 demonstrates that economists, bankers and policy makers know very…

HTML
PDF (273 KB)

Abstract

The focus of this paper is the economic theory of the plans for the European Monetary Union. Part 1 demonstrates that economists, bankers and policy makers know very little about monetary policy. Part 2 explains the errors of the common practice of defining money by its functions. Because any monetary policy must rest on a definition of money it seems reasonable to conclude that a flawed definition might lead to problems with monetary policy. Part 3 applies this insight to the plans for a common currency in Europe. Because of uncertainties about the timing and details of the implementation, some important considerations are necessarily speculative. They are relegated to appendices. Appendix 1 comments on the timing and authorship and responsibility for the official reports with their unspecified authors. Appendix 2 supplies some grounds for doubting the ultimate durability of the European Monetary Union focusing on reasons that are historical, economic and pragmatic. Because the entire movement is driven by politics, not economics, Appendix 3 considers some of the relevant political issues. The conclusions summarize and speculate on possible reasons for successful outcomes.

Details

Journal of Economic Studies, vol. 26 no. 4/5
Type: Research Article
DOI: https://doi.org/10.1108/01443589910284921
ISSN: 0144-3585

Keywords

  • Economic theory
  • EMU
  • Monetarism
  • Policy

To view the access options for this content please click here
Article
Publication date: 1 April 2003

MNEs, globalisation and digital economy: legal and economic aspects

Georgios I. Zekos

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination…

HTML
PDF (1.4 MB)

Abstract

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Details

Managerial Law, vol. 45 no. 1/2
Type: Research Article
DOI: https://doi.org/10.1108/03090550310770875
ISSN: 0309-0558

Keywords

  • Globalization
  • Digital marketing
  • Electronic commerce

To view the access options for this content please click here
Article
Publication date: 30 December 2020

Financial reporting under economic policy uncertainty

Peterson Kitakogelu Ozili

This paper aims to discuss financial reporting under economic policy uncertainty.

HTML
PDF (167 KB)

Abstract

Purpose

This paper aims to discuss financial reporting under economic policy uncertainty.

Design/methodology/approach

The paper uses discourse analysis to examine financial reporting under economic policy uncertainty.

Findings

The paper identifies the link between economic policy uncertainty and financial reporting, in terms of earnings management and fair value accounting. It argues that high economic policy uncertainty will transmit fewer new information to firms which can motivate managers to influence accounting numbers in the direction of the desired financial reporting outcome.

Originality/value

The relationship between economic policy uncertainty and financial reporting has not been studied. This paper is one of the first papers to relate economic policy uncertainty to financial reporting behavior.

Details

Journal of Financial Reporting and Accounting, vol. ahead-of-print no. ahead-of-print
Type: Research Article
DOI: https://doi.org/10.1108/JFRA-08-2020-0242
ISSN: 1985-2517

Keywords

  • Economic policy uncertainty
  • Financial reporting
  • Accrual
  • Accounting quality
  • Policy uncertainty
  • Loan loss provisions
  • Earnings management
  • Fair value accounting
  • G21
  • M41
  • M40
  • M48
  • G32

Access
Only content I have access to
Only Open Access
Year
  • Last week (467)
  • Last month (1364)
  • Last 3 months (3685)
  • Last 6 months (7646)
  • Last 12 months (14566)
  • All dates (143583)
Content type
  • Article (106161)
  • Book part (23031)
  • Expert briefing (5681)
  • Earlycite article (4841)
  • Executive summary (2551)
  • Case study (1166)
  • Graphic analysis (152)
1 – 10 of over 143000
Emerald Publishing
  • Opens in new window
  • Opens in new window
  • Opens in new window
  • Opens in new window
© 2021 Emerald Publishing Limited

Services

  • Authors Opens in new window
  • Editors Opens in new window
  • Librarians Opens in new window
  • Researchers Opens in new window
  • Reviewers Opens in new window

About

  • About Emerald Opens in new window
  • Working for Emerald Opens in new window
  • Contact us Opens in new window
  • Publication sitemap

Policies and information

  • Privacy notice
  • Site policies
  • Modern Slavery Act Opens in new window
  • Chair of Trustees governance statement Opens in new window
  • COVID-19 policy Opens in new window
Manage cookies

We’re listening — tell us what you think

  • Something didn’t work…

    Report bugs here

  • All feedback is valuable

    Please share your general feedback

  • Member of Emerald Engage?

    You can join in the discussion by joining the community or logging in here.
    You can also find out more about Emerald Engage.

Join us on our journey

  • Platform update page

    Visit emeraldpublishing.com/platformupdate to discover the latest news and updates

  • Questions & More Information

    Answers to the most commonly asked questions here