The purpose of this paper is to study major changes in Tunisian monetary policy implementation conditions, and their effects. It focuses on the role of the central bank as a strategic participant in the finance of the economy, and the recycle of saving into investment. It aims to analyze new conditions of the efficiency of the settlement system through central bank balance sheet and its impact, not only through autonomous and discretionary factors, but also through liquidity factors of operators...

This paper tests for the factors determining the diffusion of off-balance sheet businesses within the context of emerging markets. The pooled balanced panel data model has been applied on a large sample of banks over the period 1997-2015. For the six GCC countries considered, though the estimates conclude differences among the regressors, however, the targeted determining factors contribute significantly in influencing OBS businesses in several terms. As capital market perspective, the findings indicate...

The process of globalization is happening so quickly thereby leading to rapid changes, particularly in communication and information technology. This situation has caused the economy to become interdependent. Basically, the process of globalization will improve efficiency and productivity of economic activities. However, the process of globalization may have a positive or negative effect on the TFP growth for different economic sectors. This paper aims to investigate the effect of globalization on...

This paper reexamines the link between internal governance structure (board structure) and acquirer/bidder performance, controlling for the disciplinary role of the market for corporate control based on the level of antitakeover provisions (ATPs), using a data sample of mergers and acquisitions from the 2000s, a period that witnessed significant board structure reform – the introduction of minimum board independence requirements to the NYSE and NASDAQ listing rules following the enactment of the...

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Academic literature suggests that a stock market-centered financial system, such as in the United Kingdom, promotes a strong and dynamic venture capital market in a better way than a bank-centered financial system, like in Germany, permitting venture capitalists to exit more successfully from their investment through an IPO. This hypothesis is investigated by comparing private equity and venture capital funding in both countries with an emphasis on the life sciences industry. For this purpose time...

This study aims to explore the consumers’ attitude towards promotion of controversial products, the reasons why they are controversial and how the degree of religious commitment in Sudan affects attitude. The study presents the results of an online survey of 203 Sudanese respondents to determine the type of products seen as controversial when advertised on TV and why considered controversial. The results revealed that in general Sudanese hold negative perceptions of controversial products and...

This paper investigates the significance of FDI, capital formation, trade openness, and economic growth in the international scope by classifying data into six regions. The annual datasets consist of 169 countries over the period 1990-2015 were employed. Panel cointegration, panel causality, variance decomposition, and impulse response were deployed to document long- and short-run relationships, to establish the most important macroeconomic variables for economic growth and to assign the proportion...

Firm export performance is declining across industries and economies around the world. Despite numerous researches to explain the decline, there are controversies and lack of consensus as to what determines firm export performance. This paper was developed to identify and explain determinants of, and propose a firm export performance model from a developing economy perspective. A quantitative cross-sectional survey of 250 firm export executives from selected firms and industries was conducted. Psychometric...

Using data on Seasoned Equity Offerings in the U.S. over the period 1980-2000, the effects of equity market timing on the post-issue performance of issuing firms are examined. Most prior research evaluates SEO firms as a single group and find long-run under performance after an SEO. The approach uses the Sentiment Index (Baker & Wurgler, 2006) to extract samples of market timing firms. Then, two distinct subsets are created from this data. The opportunity subset consists of firms that have viable...