Showing papers in "Journal of International Financial Markets, Institutions and Money in 2017"

TL;DR: In this article, the authors analyze the statistical properties of Bitcoin and find that it is uncorrelated with traditional asset classes such as stocks, bonds and commodities both in normal times and in periods of financial turmoil.

TL;DR: In this paper, the authors examined whether the imposition of higher capital ratios is effective in reducing risk and improving the efficiency and profitability of banking institutions using a sample of 1992 banks from 39 OECD countries during the 1999-2013 period.

TL;DR: In this paper, the authors investigate the influence of the dual board structure on the financial performance of Islamic banks and investigate the unique agency relationships using a sample of 90 Islamic banks across 13 countries over the period 2006-2014.

TL;DR: In this paper, the authors find that the relationship between governance and firm performance is an increasing function of dispersed ownership and that the value addition of good governance is not necessarily maintained at high levels of ownership concentration.

TL;DR: In this paper, the relationship between competition and bank risk was investigated across a large sample of European listed banks over the period 2004-2013, and it was shown that competition encourages bank risk-taking and then increases individual bank fragility.

TL;DR: In this article, the authors employ quantile impulse-response functions obtained from multivariate quantile models to analyze the impact of US policy and US equity market uncertainties on not only domestic stock returns, but also stock returns of mature and emerging markets.

TL;DR: In this article, the efficiency of Islamic and conventional banks in the GCC region was investigated using DEA and SFA before, during and after the global financial crisis (GFC), and the results suggest that during the GFC, Islamic banks were more cost efficient in comparison to conventional banks.

TL;DR: This article examined the interdependence and causality relationship between oil and East Asian stock returns from 1992 to 2015 and provided a fresh perspective on portfolio diversification benefits using wavelet coherence analysis.

TL;DR: In this paper, the authors investigate herding in eight African frontier stock markets between January 2002 and July 2015, given the limited evidence on herding, and find that herding appears significant throughout the 2002-2015 period for all markets, with smaller stocks found to enhance its magnitude.

TL;DR: In this article, the authors examined the Adaptive Market Hypothesis (AMH) through three well-known calendar anomalies in eight Dow Jones Islamic Indices (DJII) from 1996 to 2015 and over five subsamples.

TL;DR: In this article, the effects of board composition and ownership on traditional measures of bank risk and proxies of bank tail and systemic risk were examined based on a sample of 40 European banks over the period 2006-2010.

TL;DR: In this article, the impact of earnings quality, investor protection, and adoption of IFRS adoption on the cost of capital of publicly listed firms in Euro zone and Asian countries was investigated.

TL;DR: In this paper, the authors investigated the survival time of Islamic and conventional banks in the Gulf Cooperation Council (GCC) countries, taking into account the impact of the global financial crisis by employing the discrete-time duration models.

TL;DR: In this paper, the impact of bank competition on financial stability in the transition markets of the Commonwealth of Independent States (CIS) in the context of the competing competition-stability/competition-fragility hypotheses found in the literature is investigated.

TL;DR: In this article, the role of top managers in financial decisions at sharia-compliant firms in Pakistan and the UK was examined, and the authors found that the managers exert significantly important influence over leveraging, the dividend policy, and working capital decisions.

TL;DR: In this article, the thermal optimal path method was employed to explore both the long-term and short-term interaction patterns between the onshore CNY and offshore CNH exchange rates (2012-2015).

TL;DR: In this article, the authors analyzed the short and medium-term impacts of the Shanghai-Hong Kong Stock Connect on both local and foreign markets and found that the implementation of the Connect has asymmetric impacts on mainland and Hong Kong stock markets.

TL;DR: In this paper, the influence of monetary policy on the bank-lending channel in both pre- and post-2007 financial crisis periods was assessed, and it was shown that an increase in asset purchases by central banks reduced the financial institutions' balance sheet dependence to extend financing.

TL;DR: In this article, the effect of government ownership on financial constraint and the impact of financial constraint on corporate performance was investigated using a sample of 8232 firms from 81 countries, and they found that government-owned firms face fewer financial constraints and that firms with fewer constraints perform better.

TL;DR: This article examined the efficiency of South Asian micro-finance institutions using Data Envelopment Analysis (DSA) and found that these MFIs are technically inefficient but scale efficient, and that there was some improvement in financial efficiency over time.

TL;DR: This paper applied the most up-to-date non-parametric framework to investigate the non-linear linkage between insurance market activities, globalization, and economic growth using a pooled sample of 38 countries.

TL;DR: In this article, the authors investigated whether investor sentiment can explain stock return comovements and found that stock return coovements are mainly driven by investor sentiment, which explains the level, variance, and covariance of the non-fundamental component of returns.

TL;DR: In this article, the authors examined the relationship between bank performance and geographical location with respect to the two major global financial centres, New York and London, and provided new insights on the spatial effects of the 2008-2009 Global Financial Crisis (GFC) on the technical efficiency of the top-1000, world-leading banks in terms of total assets.

TL;DR: In this paper, the authors explore long-run relationships between Islamic and conventional equity indices for the period 2000-2014 and find evidence of bi-directional dynamics during upward, downward and some mixed market movements.

TL;DR: In this article, the effects of the June 2016 United Kingdom European Union membership referendum and the subsequently triggered article 50 on 43 major developed and emerging stock markets were studied using dependence dynamics through copulas with regime switching.

TL;DR: In this paper, the authors investigated whether religious-based trading practices impede market development in the Gulf Cooperation Council (GCC) countries and found that non-Islamic stocks in these markets are relatively neglected, have higher returns, lower liquidity, and face higher liquidity risk compared to Islamic stocks.

TL;DR: In this article, the authors investigated the degree of financial integration and international capital mobility by analysing the dynamics of national saving-investment relationships and found that there exists a close relationship between saving and investment in the long run that is consistent with the existence of a solvency constraint that is binding for each country.

TL;DR: The authors examined the risk-taking behavior of banks in the US and Canada prior to the recent financial crisis and found that Canadian banks had lower risk than their US counterparts over the study period.

TL;DR: In this paper, the authors study the sustainability of public finances in the Eurozone particularly after the 2007 financial crisis, and the main advantage of their empirical approach is that it clearly captures the government response to debt accumulation, which signals its commitment to readjust public debt towards a sustainable path.

TL;DR: In this paper, the authors examine how national culture affects corporate investment and find that the level of secrecy that national culture exhibits is negatively related to corporate investment efficiency after controlling for a number of firm-and country-level factors.