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1 – 10 of over 64000Xiong Zhong and Shuanglian Chen
The construction of regional financial center can gather a large amount of financial production elements and capital, which plays an important role in promoting regional economic…
Abstract
The construction of regional financial center can gather a large amount of financial production elements and capital, which plays an important role in promoting regional economic development. Based on this, the analysis of the planning and design of regional financial center based on the financial structure was studied. Firstly, the research progress of regional financial center and financial structure was expounded. Then, on the basis of the functional demand of the financial center, the planning and design method of the regional financial center was put forward. The regional center building in Nanjing was taken as an example, and the specific planning and design of the traffic, super high-rise landmark buildings, squares and other buildings were analyzed with the advantage of location. The research shows that the design and planning of the regional financial center can provide the new coordinates of globalization for the local finance.
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Takashi Matsuki, Kimiko Sugimoto and Yushi Yoshida
We examine how the degree of regional financial integration in African stock markets has evolved over the last eleven years. Despite increasing regional economic cooperation, the…
Abstract
We examine how the degree of regional financial integration in African stock markets has evolved over the last eleven years. Despite increasing regional economic cooperation, the process of stock market integration has been slow. To facilitate growth via developed financial markets but keep financial stability risk at a minimum, further regional integration should be promoted, and mild capital controls on non-African investors may be necessary. A Diebold-Yilmaz spillover analysis is applied to ten African stock markets for the period between August 2004 and January 2015. We examine spillovers among four regions and among individual countries. Regional integration, as measured by total spillovers in Africa, is increasing but remains very low. These spillovers were temporarily heightened during the global financial crisis. Cross-regional spillovers are high between Northern and Southern Africa. Asymmetric capital controls on African and non-African investors must be considered to foster further regional integration and to mitigate financial stability risk. This is one of the few studies to address the construction of the future architecture of regionally integrated stock markets in emerging countries.
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Katarzyna Sum, Mariusz-Jan Radło and Marta Mackiewicz
The aim of this article is to investigate how the use of financial instruments influences the development of Regional Development Funds (RFR) in Poland and to assess the maturity…
Abstract
Purpose
The aim of this article is to investigate how the use of financial instruments influences the development of Regional Development Funds (RFR) in Poland and to assess the maturity and coherence of the regional development financing system in this country.
Design/methodology/approach
The methodology is based on the multilevel governance literature and on data collected during 26 in-depth interviews in regional, national and international institutions.
Findings
The authors demonstrate that the use of financial instruments stimulates new kinds of cooperation between several institutions and contributes to the establishment of RFR. The authors also show that the Polish regional financing system is still developing and formulate recommendations about necessary improvements.
Originality/value
The main contribution of this article, in addition to taking up a new, relevant topic for the regional development policy in countries benefiting from European Union (EU) cohesion policy, is the application of the multilevel governance (MLG) concept to explain the development of the Polish regional development financing system. Moreover, the significant added value of this study comes from the use of data collected during 26 in-depth interviews (IDI) in regional, national and international institutions on the use of repayable instruments in regional development policy.
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Kannyiri Banyen and Nicholas Biekpe
This paper examines the effect of both de jure and de facto measures of financial integration on bank profitability in five regional economic communities of Africa.
Abstract
Purpose
This paper examines the effect of both de jure and de facto measures of financial integration on bank profitability in five regional economic communities of Africa.
Design/methodology/approach
Using panel data from 405 banks operating in 47 African countries across five regional economic communities over 2007–2014, the study constructs a composite measure of bank profitability. The study then employs the dynamic two-step system GMM estimation technique to test the effect of both de jure and de facto measures of financial integration on bank profitability in Africa and across five sub-regional markets.
Findings
Overall, the results support a positive relationship between financial integration and overall bank profitability in Africa, except for the Arab Maghreb Union and Southern Africa Development Community.
Practical implications
The findings of this study suggest that increased financial integration in Africa directly improves bank’s overall profitability and the variations among the sub-regional markets inform tailored policy initiatives.
Originality/value
To the best of the authors' knowledge, this is the first study on Africa to employ a composite measure of bank profitability to assess its determinants. It is also the first to include both de facto and de jure financial integration measures in a single study. This is also the first largest comparative study on bank profitability in Africa.
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The purpose of this paper is to advance a model for identifying the superior customer value proposition that evolves through a process of corporate transformation while…
Abstract
Purpose
The purpose of this paper is to advance a model for identifying the superior customer value proposition that evolves through a process of corporate transformation while simultaneously seeking to align this value proposition with regional expansion and growth of Caribbean financial firms.
Design/methodology/approach
The study utilizes a cross-sectional design. Telephone surveys were used to collect data from 80 financial firms and 243 customers across ten Caribbean countries. Structural equations modeling was employed for data analysis.
Findings
The main findings are that corporate transformation of financial firms was a significant driver of customer orientation, consumer confidence, quality, flexibility, branding, and firm capability while lower prices (such as interest rates, fees, and charges), consumer confidence, and branding were the key drivers of regional expansion and growth.
Practical implications
The study identified six value-added dimensions along with price as the superior customer value proposition of financial firms. These dimensions should be incorporated in the business model for transformation and growth of these firms.
Originality/value
The study extended the literature through development of a customer value proposition model that was primarily built on Levitt’s (1965) product life cycle conceptualization and augmented by Porter’s generic strategies.
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Ida Bagus Putu Purbadharmaja, Maryunani, Candra Fajri Ananda and Dwi Budi Santoso
The purpose of this study is to investigate the relationship between government and Balinese society in tax decentralization through budgeting seem to insignificantly improve the…
Abstract
Purpose
The purpose of this study is to investigate the relationship between government and Balinese society in tax decentralization through budgeting seem to insignificantly improve the welfare of Balinese society.
Design methodology/approach
This research was conducted in Bali Province involving eight regencies and one city. The data used in this study were secondary data, derived from relevant institutions or from websites through internet browsing and other documentations in the form of official reports/publications, such as regional budget, accountability reports, regional regulations and documents on budget and development of the regional economy. The present research used the partial least squares analysis technique.
Findings
Fiscal decentralization does not necessarily lead to better budget management. The success of fiscal decentralization can be found in the quality of the regional budget and the quality of budget management. The allocation of the regional budget for public service improvement and the development of infrastructure will increase the economic capacity of the regions. Improvement in regional economic capacity encourages the improvement of community welfare.
Originality/value
This income inequality points to the issue of fiscal capacity. The development of the financial role of district/city regions in the Province of Bali remains at a level gap with the development level of community welfare. During this period, the financial role of the government as estimated from the ratio of the national budget to the regional budget is higher than that of the society development. The acceleration role of the government is not proportional to the development of Human Development Index outcomes.
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Natalia Ermasova, Olumide Ijose and Sergey Ermasov
The purpose of this paper is to explore empirically the linkages among level of economic, managerial, financial, criminal risks and patent activity in Russia. This paper examines…
Abstract
Purpose
The purpose of this paper is to explore empirically the linkages among level of economic, managerial, financial, criminal risks and patent activity in Russia. This paper examines the relationship between the economic, managerial, financial and criminal regional risks ratings, on the one hand, and patent activity, as measured by regional patent applications for inventions, on the other.
Design/methodology/approach
A random effect model was performed for a data sample of 83 regions, covering the period 2006-2010 in Russia.
Findings
The empirical results show that increased levels of regional economic risks are significantly associated with decrease in patent activity in Russia.
Originality/value
This study fills a gap within the literature and offers a unique analysis of regional risks and their impact on patent activity. The empirical results showed that economic risk ratings have had considerable negative impact on the patent activities on regional level in Russia.
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Japanese regional banks have actively expanded their overseas business in emerging markets, and this topic is quite important for regional banks that have confronted severe…
Abstract
Japanese regional banks have actively expanded their overseas business in emerging markets, and this topic is quite important for regional banks that have confronted severe business environments over the decades. An aging population suppresses long-term increases in loan demands, and stagnant economic conditions lead to lowered interest rates in the medium-term. Overseas business is a promising business field for regional banks, but recent developments have not been investigated in detail.
This chapter examines overseas investments using data from regional banks’ financial reports. Our sample comprises 44 regional banks without overseas branches, and a research period from FY2011 to FY2015. We demonstrate different overseas business patterns among regional banks. This investigation uses X-means clustering, which is nonhierarchical, as this method automatically presents an optimal number of clusters, and sorts regional banks into their appropriate clusters.
The X-means clustering method indicates five business patterns among regional banks. This also characterizes respective clusters and demonstrates that medium-sized banks actively develop security investments, which increases overseas business’s contributions to profits. Meanwhile, small banks cannot expand overseas investments, which differ from other banks. These banks must seek other business models to compensate for this decline in their earning power.
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Md. Saifur Rahman and Shahari Farihana
The purpose of this paper is to examine the nexus between Asian and the US short-term financing rates and compare them between pre- and post-Asian financial crisis.
Abstract
Purpose
The purpose of this paper is to examine the nexus between Asian and the US short-term financing rates and compare them between pre- and post-Asian financial crisis.
Design/methodology/approach
The short-term financing rate is used in the estimation by employing two-stage cointegration test.
Findings
The result of the empirical study shows several outcomes; the short-term financing rates among the selected Asian countries are not highly correlated during pre-crisis period, but the rates become strongly associated during the post-crisis period. The US financing rate has significant influence on the Asian rate during both periods. Asian financing rates are not integrated by the influence of the USA, rather regional cooperation and financial initiatives lead the regional financing rate to be integrated.
Originality/value
The empirical finding of the study offers significant policy implications for strengthening regional economic bonding and developing the financial systems.
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Kozo Harimaya and Kazumine Kondo
– The purpose of this paper is to examine whether branch expansions have realized efficiency gains by focussing on regional banks in Japan.
Abstract
Purpose
The purpose of this paper is to examine whether branch expansions have realized efficiency gains by focussing on regional banks in Japan.
Design/methodology/approach
The authors use a single-step estimation procedure, where both cost frontier parameters and inefficiency effects are addressed simultaneously, and examine the impact of expanding branch networks on bank performance.
Findings
The findings show that regional banks expanding their branch networks to certain levels exhibit lower cost inefficiencies. Robustness results are also obtained from the samples, excluding the regional banks located in urban regions.
Originality/value
The findings suggest that adequate levels of branch expansion have beneficial impacts for regional banks, although this result is contrary to the current region-based relationship banking policy promoted by Japan’s financial regulators.
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