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Monetary policy has major impacts on macroeconomic indicators of the country. Accordingly, uncertainty regarding monetary policy shifts can cause challenges and risks for businesses, financial markets and investors. Thus, the purpose of this study is to investigate how real estate market volatility responds to monetary policy uncertainty.

The GARCH-MIDAS model is applied in this study to investigate the nexus between monetary policy uncertainty and real estate market volatility. This model was fundamentally instituted to accommodate low-frequency variables.

The results of this study reveal that increased monetary policy uncertainty highly affects the volatility in real estate market during the peak period of COVID-19 as compared to full sample period and COVID-19 recovery period; hence, a significant decline is evident in real estate market volatility during crisis.

This study is particularly focused on peak and recovery period of COVID-19 considering the geographical region of Greece, Japan and the USA. This study provides a complete perspective on the nexus between monetary policy uncertainty and real estate markets volatility in three distinct economic views.

This paper provides a quantitative assessment of the “asset ratio” rule defined in Turkey as part of measures taken to stimulate the economy amid the Covid-19 pandemic. The main objective of the new rule was to boost credit growth in the economy and provide lending for credit-constrained households and firms that are in need. A secondary aim was to shift the denomination structure of the deposits toward domestic currency. Hence, the paper focus particularly on how the policy affected the growth rate of loans and the share of domestic deposits relative to foreign ones among the commercial banks. The policy was also heavily criticized due to the possibility that it will subjugate the banking system to excessive risk. The paper explore this possible impact by measuring how much the policy affected the default risk allowances in the banking system.

The new policy required banks with deposits above a threshold level, i.e. large banks, to maintain a certain asset ratio. Banks with deposits below the threshold, i.e. small banks, were held exempt from it. The paper implement a difference-in difference methodology to assess the quantitative impacts of the asset ratio policy by taking large banks as the treatment group, and small banks as the control group.

Difference-in-difference estimation results suggest that the asset ratio policy resulted in a 9.6% rise in loans and an 8.4% rise in government securities. Deposits also increased, with no significant change in their composition. The policy initially generated a 7% increase in the credit risk allowances of banks in the treatment group, which vanished in the following periods. Based on all these, the paper argue that the policy was successful in providing liquidity to the economy without jeopardizing the financial stability.

The findings of this study show that asset ratio policy is effective in increasing credit growth in countries with limited policy space such as Turkey. While saying this, the importance of the robust and prudent structure of the banking system in the economy should be underlined. Otherwise, the policy may have an unintended consequence of raising systemic risk. The policy suggestions also apply to advanced countries where the monetary policy has reached a natural limit due to the zero lower bound (ZLB). The ZLB problem encouraged these countries to use quantitative easing schemes in the aftermath of the Covid-19 crisis, just like the global financial crisis. However, it may take a long time to undo the effects of this policy on the balance sheets of central banks. In such cases, asset ratio policy can also be considered as an alternative tool for advanced economies notwithstanding the fact that the banking system should be prudent, well-capitalized and the country should have enough fiscal space. The main objective of the asset ratio policy was to help SMEs that were in urgent need of liquidity at the beginning of the crisis. The bank balance sheet data used in this paper does not contain information about the borrowers of the loans extended during the implementation of the policy. Analysis of this dimension using matched bank-firm level data will better demonstrate the success of the policy in achieving this goal. The paper address this as the main limitation of the paper and leave that analysis for future research.

This paper provides an important contribution to the literature by assessing a new unique policy whose objective is to stimulate loans and mitigate the impact of the Covid-19 crisis on the economy. The policy in question is predicted to have effects on the asset and liability structure and risk exposure of the banking system in Turkey. The quantitative analysis in this study estimates these impacts and discusses the effectiveness of the new policy in providing a relief for firms and households in need. Whether or not the policy caused a disruption in the sound structure of the banking system in Turkey is another question addressed in the paper.

This study aims to synthesize the existing literature with insights gained from interviews conducted with regulatory experts. The objective is to analyse the challenges associated with incorporating cryptocurrencies into regulatory frameworks and to explore constraints in the regulatory institutionalization of cryptocurrencies.

The study methodology consists of two steps. The first step is to identify regulatory constraints in the literature review and in the next step, interviews are conducted with officials of the State Bank of Pakistan (SBP). The study used a qualitative case study methodology, in which a single case (regulatory constraint) was selected as a unit of analysis.

The findings show that lack of traceability, legal status, lack of governmental control due to decentralization, difficulty enforcing laws, volatility, lack of skills with regulators and difficulty integrating cryptocurrencies into the current financial system are the main obstacles to the introduction of a regulatory framework. Thus, on a broader conceptual level, the findings can be grouped into opportunism, lack of strategic capability and fragmented global laws.

This study could inform global cryptocurrency regulation discussions, sharing a developing country’s views on balancing the government, central banks, the financial sector and public interests. This could guide countries to consider cryptocurrency adoption in similar situations. This could affect the cryptocurrency market, impacting demand, supply and investor trust in Pakistan.

The study has implications for policy making officials. The research aims to offer valuable insights to the SBP and other regulatory authorities, helping them identify potential risks and create an effective regulatory framework for cryptocurrencies.

The study has implications for society in knowing about the volatile nature of cryptos and anonymity of their issuers, which poses regulatory constraints. This then implies its harmfullness to its traders and the huge losses that may arise from their trading due to its volatile nature.

This study contributes to the literature on the constraints, responsibilities and consultation framework of cryptocurrency regulations.

The adoption of residential rooftop solar panel systems (SPS) in India is at a nascent stage. Therefore, this study aimed to examine the factors affecting consumers’ intention to purchase SPS by expanding the theory of planned behavior (TPB) with three environmental psychology factors. The study was targeted at potential users’ intention to purchase SPS, thus it further explored the moderating role of perceived government subsidy policy (PGSP) in determining consumers’ purchase intention of SPS.

Using G*power software, the minimum sample size of 189 was calculated; accordingly, 292 valid responses were gathered from potential users of SPS from three Indian states, namely Rajasthan, Punjab and Haryana, via an online questionnaire survey with the help of purposive sampling method. Structural equation modeling technique of partial least squares was employed to analyze the data.

Results demonstrated that attitude, subjective norms, perceived behavioral control, perceived consumer effectiveness (PCE) and PGSP significantly influence purchase intention of SPS. Green trust and green self-identity did not influence the purchase intention of SPS. Further, PGSP strengthens the effect of attitude, green trust, PCE on purchase intention of SPS while it weakens the effect of subjective norms on purchase intention of SPS.

This study contributes to the existing literature by integrating green trust, green self-identity, PCE and PGSP into the TPB model to better understand factors affecting consumers’ purchase intention towards SPS in India.

This systematic literature review presents the evolution of accounting-related research in the Indonesian context. We examine 55 academic articles from the initial 296 records of accounting and finance research in the Q1 Scopus-indexed journals from 1995 to 2022. This study sheds light on Indonesia’s main research streams, unique settings and urgent future research agenda.

This study adopts a systematic approach for a comprehensive literature review. We select articles according to a series of criteria and compile the metadata for the bibliographic mapping.

Our bibliometric analysis suggests five main research streams, namely (1) political connection, (2) capital market, (3) audit and accountability, (4) firm policy and (5) banking. We identify the following distinctive country settings, which are well discussed in extant literature: political connection, two-tier board system, weak accounting profession, information opacity and cultural impact on accounting. We outline prospective agendas to examine the institutional mechanisms’ role in addressing major environmental challenges through accountability.

This study offers unique contributions to the literature by comprehensively reviewing accounting-related research in Indonesia. Despite Indonesia’s economic and environmental importance, it has received limited attention from scholars. Using dynamic topic analysis, we highlight the need to examine the role of informal institutions, such as political connections and culture and formal institutional mechanisms, such as corporate governance and environmental disclosure.

Energy-related financial literacy (ERFL) which consists of energy literacy, financial literacy and lifecycle cost literacy, can play an instrumental role in addressing climate change by ensuring efficient energy consumption (macro level benefit) and promoting financial well-being (micro level benefit) of households. This study aims to highlight the ERFL level and its effect on the energy consumption of the sample households in the state of West Bengal, India.

The study used primary data on 155 sample households from the two districts, i.e. Hooghly and North 24 Parganas in West Bengal, India, surveyed from September 2022 to November 2022 using a structured questionnaire. The study used the conceptual framework suggested by Blasch et al. (2018) to measure the ERFL. Pertinent statistical techniques and the ordinary least square regression method were used to attain the objectives of the study.

The outcome of the study showed that the average ERFL score was found to be moderate (63%). The findings of the study also indicated that the ERFL exerts a positive influence on reducing energy consumption among the sample households in India.

There is a dearth of research studies on the topic of ERFL around the globe. The very few studies so far conducted are mostly in the context of European economies and Nepal. Perhaps, to the best of the our knowledge, this is the first study on the issue of ERFL in the Indian context. Therefore, the present study will make an original contribution to the small but growing scholarship on ERFL.

This paper aims to contribute to the scientific debate concerning the impact of equity crowdfunding on the performance of crowdfunded firms after campaigning. To this aim, the purpose of this paper is to investigate the relationship between the characteristics of the campaign and the subsequent firm innovativeness.

This study adopts a quantitative research approach to evaluate if the entrepreneurial choices affecting the characteristics of the equity crowdfunding campaigns have an impact on the post-campaign firm innovativeness.

The results of the models show that the campaign characteristics have a direct impact on the firm innovativeness, both in terms of offering and communication and the campaign performance.

This paper presents one of the first studies to investigate the relationship between the choice of campaign characteristics and the post-campaign firm innovativeness. As such, the study contributes to both the literature concerning start-up innovation and the literature about the impact of equity crowdfunding.

This paper examines the link between the failure of public accountability and stakeholder disengagement brought about by a New Public Management (NPM) style “smart solution” introduced to reduce public urination in Dhaka city. It shows how New Public Governance (NPG), Islamic and dialogic approaches can improve decision-making and solutions.

Drawing on the concepts of public accountability, NPM, NPG and dialogic accountability, this study highlights how narrow conceptions of accountability and poor stakeholder engagement impacted the effectiveness of the “smart solution” based on data collected through observation and unstructured in-depth interviews.

Evidence suggests that narrow conceptions of accountability driven by monologic NPM perspectives led to poor stakeholder engagement, which impacted the effectiveness of the “smart solution”. The solution that consists of changing anti-urination signage from Bengali to Arabic script has not solved Dhaka's public urination problem. In many instances, the solution has disenchanted certain stakeholders who view it as an offence against Islam and a confusing de-privileging of the Bengali language which has significant national and cultural value in Bangladesh.

The findings of the study contribute to policymaking discussions on how to effectively engage with stakeholders and extend the literature on accountability within the context of conflicting public versus private demands related to a public nuisance. The study outlines important issues related to stakeholder engagement and introduces a framework that conceptualises how to increase the effectiveness of public policy decisions using NPG, Islamic and dialogic accountability approaches, especially on matters that require significant public/external stakeholder support. It also provides a conceptual integration of these various approaches, including nuanced insights into accountability challenges within “non-Western” contexts.

This paper aims to examine the effects of oil price uncertainty on corporate investment of Islamic stocks during the COVID-19 pandemic.

The study uses a panel data set that covers 398 listed Islamic stocks from seven major Asia Pacific countries over the period of five years from 2017 to 2021, yielding 1,990 observations. Specifically, this paper investigates the said association by combining the real options theory regarding investment and the panel data-based econometric method that captures the dynamic relationship, the generalized method of moments estimators.

The findings show that the relationship between the oil price volatility and corporate investment of Islamic stocks is significant and nonlinear in nature, suggesting the presence of both the growth options and the waiting options. Overall, the results reveal that corporate investment of Islamic stocks is hindered during the unprecedented corona crash, when oil price increases at exponential rates.

The findings suggest that considering the information caused by unprecedented events like the COVID-19 pandemic is crucial for investment decisions of Islamic stocks. Therefore, policymakers and regulators should incorporate the impact of oil price uncertainties caused by unprecedented events like the COVID-19 pandemic on firm’s investment expansion and diversification strategies.

To the best of the authors’ knowledge, this paper is the first to examine the relationship between the investment of Islamic stocks and the oil price uncertainty under compound options theory in top Asian oil-importing countries.