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1 – 10 of over 2000
Article
Publication date: 1 February 1954

Bolt. Carmelo Caligiuri

E' molto importante che in questo V° Congresso degli Esperti scientifici del turismo una sezione del lavoro sia dedicata all'insegnamento turistico perchè non v'è problema di…

Abstract

E' molto importante che in questo V° Congresso degli Esperti scientifici del turismo una sezione del lavoro sia dedicata all'insegnamento turistico perchè non v'è problema di carattere scientifico o sociale che possa ignorare la scuola, in quanto la scuola è l'unico organo che esprime ininterrottamente la forza vitale dei popoli: eterno organismo vivente, la scuola salva e afferma la continuità spirituale dei paesi, assorbendo ed equilibrando in essa lo spirito delle forme ideologiche e delle tecniche nuove imposte dai rivolgimenti e mutamenti perenni della società.

Details

The Tourist Review, vol. 9 no. 2
Type: Research Article
ISSN: 0251-3102

Article
Publication date: 1 April 1983

Excellencies Ladies and Gentlemen At the end of this memorable 33rd Congress of our Association, I would like to thank very heartly our hosts H.E. E.W. Mwangale, Minister for…

Abstract

Excellencies Ladies and Gentlemen At the end of this memorable 33rd Congress of our Association, I would like to thank very heartly our hosts H.E. E.W. Mwangale, Minister for Tourism and Wildlife, the Organizing Committee, presided by Mr. Maliti as well as to Universal Safary Tours as executing agency for having done everything to make our stay in Kenya pleasant and attractive.

Details

The Tourist Review, vol. 38 no. 4
Type: Research Article
ISSN: 0251-3102

Article
Publication date: 18 October 2024

Dat T Nguyen and Tu Le

This study aims to investigate the interrelationships between charter value and market discipline in five Southeast Asian countries (ASEAN-5).

Abstract

Purpose

This study aims to investigate the interrelationships between charter value and market discipline in five Southeast Asian countries (ASEAN-5).

Design/methodology/approach

This research uses a simultaneous equations model with a three-stage least squares estimator for a sample of 79 listed banks from 2006 to 2019.

Findings

The findings show a negative two-way relationship between charter value and market discipline. More specifically, charter value can reduce market discipline. Meanwhile, a negative relationship between market discipline and charter value reemphasizes the significance of market discipline in the banking system to enhance bank charter value. Similar results still hold when using several robustness checks (e.g. subsamples, considering the global financial crisis, governance indicators and market structure).

Originality/value

To the best of the authors’ knowledge, this study is the first attempt to investigate the bidirectional relationship between bank risk and charter value in ASEAN-5. Therefore, this study would provide significant recommendations for policymakers and practitioners.

Details

Review of Accounting and Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1475-7702

Keywords

Article
Publication date: 4 August 2022

Dat T. Nguyen and Tu Le

The purpose of this study is to examine whether a bidirectional relationship between bank risk and market discipline may exist in Southeast Asia.

Abstract

Purpose

The purpose of this study is to examine whether a bidirectional relationship between bank risk and market discipline may exist in Southeast Asia.

Design/methodology/approach

A simultaneous equations model with a three-stage least squares estimator is used to examine the interrelationships between bank risk and market discipline using a sample of 79 listed banks in five countries in Southeast Asia (ASEAN-5) from 2006 to 2019.

Findings

The findings show a two-way relationship between bank risk and market discipline. In particular, market discipline has a negative impact on bank risk, while there is a positive relationship between bank risk and market discipline. A bidirectional relationship between them still holds when using an alternative measure of bank risk in subsamples, controlling for the global financial crisis and governance indicators.

Practical implications

The findings indicate that market discipline can reduce bank risk. Meanwhile, a positive impact of bank risk on market discipline reemphasizes that market discipline is a powerful tool to ensure banks do not have excessive risk-taking. Nonetheless, the findings suggest that further implementation of market discipline as the third pillar of the Basel framework is necessary for the banking systems in ASEAN-5.

Originality/value

To the best of the authors’ knowledge, this study is the first attempt to investigate the interrelationship between bank risk and market discipline in Southeast Asia.

Details

Studies in Economics and Finance, vol. 40 no. 2
Type: Research Article
ISSN: 1086-7376

Keywords

Article
Publication date: 26 October 2021

Tu D.Q. Le and Dat T. Nguyen

The study aims to investigate the relationship between a shift in lending activities toward households, credit information sharing and bank stability.

Abstract

Purpose

The study aims to investigate the relationship between a shift in lending activities toward households, credit information sharing and bank stability.

Design/methodology/approach

A system generalized method of moments (GMMs) as proposed by Arellano and Bover (1995) is employed to examine the relationship using a sample of 80 countries from 2005 to 2014.

Findings

The findings demonstrate that, in general, a shift in lending strategy toward the household sector may increase bank instability while credit information sharing has a positive impact on bank stability. When credit information sharing is promoted widely, this shift may become beneficial for the banking system. The results are robust when using different measures of credit information sharing, including the depth of index and the coverage of credit information sharing mechanisms.

Practical implications

The results demonstrate that a shift in lending activities toward households should be considered a key variable in conducting macro-prudential policies. When a shift toward household credit relative to firm credit is evolved, the findings suggest that the authorities around the world should enact laws that magnify the scope and coverage of credit information shared and thus promoting the effectiveness of information sharing.

Originality/value

The current study is the first attempt that examines the impacts of a shift in lending activities toward households and credit information sharing on bank stability.

Details

International Journal of Managerial Finance, vol. 18 no. 5
Type: Research Article
ISSN: 1743-9132

Keywords

Article
Publication date: 16 April 2024

Tu Le, Thanh Ngo, Dat T. Nguyen and Thuong T.M. Do

The financial system has witnessed the substantial growth of financial technology (fintech) firms. One of the strategies that banks have adopted to cope with this emergence is to…

Abstract

Purpose

The financial system has witnessed the substantial growth of financial technology (fintech) firms. One of the strategies that banks have adopted to cope with this emergence is to cooperate with fintech firms. This study empirically investigated whether cooperation between banks and fintech companies would improve banks’ risk-adjusted returns.

Design/methodology/approach

We developed a novel index of bank–fintech cooperation across various fintech sectors. A system generalized method of moments (GMM) was used to examine this relationship using a sample of Vietnamese banks from 2007 to 2019.

Findings

The findings show that the diversity of bank–fintech cooperation across seven sectors tends to enhance banks’ risk-adjusted returns. The results also highlight that this relationship may depend on the types of fintech sectors and bank ownership. More specifically, the positive association between this cooperation and banks’ risk-adjusted returns only holds in the comparison sector of fintech, whereas there is a negative relationship between them in the payments and mobile wallets sector. Furthermore, state-owned commercial banks that engage in more bank–fintech cooperation tend to generate greater earnings. If we look at listed banks, the positive effect of bank–fintech partnerships on risk-adjusted returns still holds. A similar result was also found in the case of large banks.

Practical implications

Our empirical evidence provides motivations for incumbent banks to implement appropriate strategies toward diversity in bank–fintech partnerships when fintech firms have engaged in various financial segments.

Originality/value

This study adds more evidence to the existing literature on the relationship between bank–fintech cooperation and bank performance.

Details

International Journal of Bank Marketing, vol. 42 no. 7
Type: Research Article
ISSN: 0265-2323

Keywords

Open Access
Article
Publication date: 20 October 2022

Mui Kuen Yuen, Thanh Ngo, Tu D.Q. Le and Tin H. Ho

This study investigated the impacts of the environment, social and governance (ESG) and its components on global bank profitability considering the COVID-19 outbreak.

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Abstract

Purpose

This study investigated the impacts of the environment, social and governance (ESG) and its components on global bank profitability considering the COVID-19 outbreak.

Design/methodology/approach

This study used a system generalized method of moments (GMM) proposed by Arellano and Bover (1995) to investigate the relationship between ESG and bank profitability using an unbalanced sample of 487 banks from 51 countries from 2006 to 2021.

Findings

The findings generally found that ESG activities may reduce bank profitability, thus supporting the trade-off hypothesis that adopting ESG standards could increase bank costs while lowering profitability. In addition, there is a U-shaped relationship between ESG and bank profitability, suggesting that ESG activities can help improve bank performance in the long term. Such an effect is the first time observed in the global banking sector. This study’s results are robust across different models and settings (e.g., developed vs. developing countries, different levels of profitability, and samples with vs without US banks).

Practical implications

This study provides empirical evidence to support many countries' sustainable development policies. It also provides empirical incentives for bank managers to be more ESG-oriented.

Originality/value

This study provides a better understanding of the roles of ESG activity and its components in the global banking system, considering the recent crises.

Details

Journal of Economics and Development, vol. 24 no. 4
Type: Research Article
ISSN: 1859-0020

Keywords

Article
Publication date: 1 April 2001

Kerstin Jorna and Sylvie Davies

In the 21st century, multilingual tools are gaining importance as increasingly diverse user groups from different cultural and linguistic backgrounds seek access to equally…

Abstract

In the 21st century, multilingual tools are gaining importance as increasingly diverse user groups from different cultural and linguistic backgrounds seek access to equally diverse pieces of information. The authors of this paper believe that most current forms of multilingual information access are inadequate for this role, and that a new form of multilingual thesaurus is required. The core of this paper introduces their pilot thesaurus InfoDEFT as a possible model for new online thesauri, which are semantically structured, encyclopedic and multilingual. The authors conclude that while the manual construction of such thesauri is labour intensive and hence costly, pilot thesauri can be used as training sets for artificial learning programmes, thus increasing their volume considerably at relatively little extra cost.

Details

Journal of Documentation, vol. 57 no. 2
Type: Research Article
ISSN: 0022-0418

Keywords

Article
Publication date: 19 June 2018

Tu Le

The purpose of this paper is to investigate the interrelationship between liquidity creation (LC) and bank capital in Vietnamese banking between 2007 and 2015.

Abstract

Purpose

The purpose of this paper is to investigate the interrelationship between liquidity creation (LC) and bank capital in Vietnamese banking between 2007 and 2015.

Design/methodology/approach

A three-step procedure is used to measure LC. Thereafter, a simultaneous equations model with a three-stage least squares estimator is employed to examine the links between LC and bank capital.

Findings

The findings show that large banks mainly contributed a strong growth in LC in Vietnam between 2007 and 2015. The findings also indicate that off-balance sheet activities only played a small role in LC. In addition, the findings indicate a negative two-way relationship between LC and bank capital in Vietnam. The results of the robust checks reinforce the main findings.

Practical implications

The evidence shows that the implementation of Basel III may reduce LC and greater LC may increase banks’ insolvency. Consequently, this trade-off between the benefits of financial stability induced by tightening capital requirements and those of enhanced LC has important implications for Vietnamese authorities in strengthening the banking system.

Originality/value

This study is the first attempt to investigate the interrelationship between LC and bank capital in Vietnam, in which fat liquidity creation and non-fat liquidity creation are used and alternative measures of LC are also employed to provide robustness to the main findings.

Details

Managerial Finance, vol. 45 no. 2
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 12 June 2019

Thanh Ngo and Tu Le

The purpose of this paper is to empirically investigate the causal relationship between banking efficiency and capital market development in 86 countries between 2006 and 2011.

Abstract

Purpose

The purpose of this paper is to empirically investigate the causal relationship between banking efficiency and capital market development in 86 countries between 2006 and 2011.

Design/methodology/approach

The authors follow the two-stage framework: data envelopment analysis (DEA) with the use of financial ratios is used to arrive at efficiency scores of the banks in the first stage. Thereafter, those efficiency scores will be linked with the development level of the capital markets of the corresponding country in the second stage using the generalised method of moments in a simultaneous equations model.

Findings

The authors found that banking systems around the world were still inefficient, suggesting that it would take time for the global banking system to recover after the global financial crisis 2007/2008. More importantly, the findings demonstrated that the larger the capital market is, the less efficient its banking system would be. In contrast, banking efficiency can positively influence the development of the capital market.

Research limitations/implications

The data are unbalanced and limited to 86 countries; the study did not analyse the productivity change over time of those banking systems; and it would be useful to test the first-stage DEA with different sets of variables as well as different assumptions.

Practical implications

The paper suggests that for any economy around the world, an improvement in banking performance and efficiency rather than capital market development should be a priority, alongside with monitoring inflation.

Originality/value

The paper provides an unbiased analysis of the causal relationship between the banking sector and the capital market.

Details

International Journal of Managerial Finance, vol. 15 no. 4
Type: Research Article
ISSN: 1743-9132

Keywords

1 – 10 of over 2000