Economics Commons^™

Measuring Fiscal And Monetary Policies Spillovers In Asean, Thi Mai Lien Dau, Yuthana Sethapramote

DLSU Business & Economics Review

This paper aims to comprehensively examine fiscal and monetary policies spillovers to real GDP and inflation in ASEAN-5 countries. We examine the effects of shocks from each of the ASEAN members and advanced economies by employing the global vector autoregression (GVAR) model because it allows us to investigate this issue in a multinational system. The empirical results show several important findings. Generally, both internal and external fiscal and monetary spillovers have a significant effect on all ASEAN-5 countries, although internal monetary spillover seems to be stronger than internal fiscal spillovers. At country level, out of the five ASEAN countries, Indonesia’s …

On Implementation Delays, Marginal Costs And Price Dynamics: A Theoretical Note With Implications For The Philippines, Lawrence B. Dacuycuy, Mariel Monica Sauler, Dickson Lim

DLSU Business & Economics Review

It has been known that longer implementation delays in public investments result in sluggish accumulation of public capital. In models in which public capital determines firm productivity, the longer the duration of implementation delays, the

higher the marginal costs which, in a New Keynesian economy means higher price markups. Consequently, higher mark- ups may increase the inflation rate, leading to an appropriate monetary policy response. Using a dynamic stochastic general

equilibrium (DSGE) model, this theoretical note focuses on the relationships among government investments, firm pricing policy, and monetary policy. It addresses some aspects of public investment, and through simulations, characterizes …

Study Of The Impact Of The Great Recession On The Relation Between Earnings Surprises And Stock Returns, Benjamin Anderson, Stoyu Ivanov

Faculty Publications

This paper examines the impact of the Great Recession on the relation between earnings surprises and stock returns and examines the role that informed and uninformed investors play in the formation of the post-earnings announcement drift (PEAD). We use quarterly earnings surprises (SUE), firms' standardized unexpected returns, calculated as actual earnings minus expected earnings, scaled by stock price one day prior to the earnings announcement, and one-year future stock returns, the subsequent twelve-month abnormal stock returns, calculated as the difference between the firm's buy-and-hold return and the value-weighted market buy-and-hold return, to test whether the Great Recession had an impact …

Financial Market Risk And Macroeconomic Stability Variables: Dynamic Interactions And Feedback Effects, Agnieszka M. Chomicz-Grabowska

Doctoral Dissertations (DBA)

This study investigates dynamic interactions and feedback effects between financial market risk proxied by VIX and key macroeconomic stability variables that include the rate of unemployment, headline inflation and market-based inflation expectations reflected by the breakeven inflation. I argue that market risk should play a stronger role in macroeconomic modeling and forecasting than it has been recognized thus far in the literature. I employ vector autoregression with impulse response functions, as well as two-state Markov switching tests to examine these interactions on the longest available US monthly data. The empirical tests show that the association between market risk and macroeconomic …

Editor's Note, Marites Tiongco

DLSU Business & Economics Review

No abstract provided.

Climate Risks And Market Efficiency, Harrison Hong, Frank Weikai Li, Jiangmin Xu

Research Collection Lee Kong Chian School Of Business

Climate science finds that the trend towards higher global temperatures exacerbates the risks of droughts. We investigate whether the prices of food stocks efficiently discount these risks. Using data from thirty-one countries with publicly-traded food companies, we rank these countries each year based on their long-term trends toward droughts using the Palmer Drought Severity Index. A poor trend ranking for a country forecasts relatively poor profit growth for food companies in that country. It also forecasts relatively poor food stock returns in that country. This return predictability is consistent with food stock prices underreacting to climate change risks.

Intraday Information From S&P 500 Index Futures Options, Kian Guan Lim, Chen Ying, Kian Leong Nelson Yap

Research Collection Lee Kong Chian School Of Business

In this paper we employ intraday transaction prices of liquid E-mini S&P 500 index futuresoptions to form 10-minutes ahead risk-neutral skewness forecasts and show profitable optionstrading strategy net of transaction costs. We do not find profitable trading based on 10-minutesahead risk-neutral volatility and only very marginal cases of profitable trading using kurtosisforecasts. The skewness profitability anomaly may be an indication of informational marketinefficiency in intraday S&P 500 futures options markets, which is contrary to findings usinglonger-span daily and weekly moments. Our results lend credence to the persistence of intradaytrading activities in the markets.

Role Of Organizational Culture In Psychological Needs Satisfaction And Work Engagement, Quddsia Sadaf, Mudassar Aziz, Gulnaz Anjum

Business Review

This paper explores the role of organizational culture in the satisfaction of basic psychological needs and yielding work engagement among public and private sector managers. Results reveal that organizational culture confers employees with a sense of relatedness which promotes work engagement. Additionally, the study suggests that female managers have a higher need for relatedness, the satisfaction of all basic psychological needs is significantly higher among private sector employees and work satisfaction increases with increasing job level. This study can be used for the development of organizational culture to improve relatedness among employees with respect to gender and the type of …

Volatility Spillovers Among Oil And Stock Markets In The Us And Saudi Arabia, Marinela Adriana Finta, Bart Frijns, Alireza Tourani-Rad

Research Collection Lee Kong Chian School Of Business

In this article, we use high frequency data and an identification via changes in volatility approach to assess the volatility spillovers among oil and the US and Saudi Arabian stock markets. We document the existence of asymmetry in contemporaneous spillover effects. Particularly, during the times when oil’s trading hours overlap with the US and Saudi Arabian stock markets, the volatility spillover from oil to the stock markets is higher than the other way around. We highlight the importance of taking into consideration the information present during continuous trading hours of oil, especially during simultaneous trading hours with the stock markets. …

Made In Singapore, Pao-Li Chang, Phuong T. B. Nguyen

Research Collection School Of Economics

In this paper, we characterize the position of Singapore in global value chains and identify Singapore's key upstream and downstream trade partners. We trace how the position of Singapore in global value chains has changed in the past two decades: whether it has moved upstream or downstream, how involved it is in global value chains, how its trend compares with other major Asian exporting countries (China, Japan, Korea and Taiwan), and which key sectors of Singapore play a major role in these global trade networks.

Trading Regularity And Fund Performance, Jeffrey Busse, Lin Tong, Qing Tong, Zhe Zhang

Research Collection Lee Kong Chian School Of Business

We construct a new measure of trading regularity, capturing the extent to which investors trade on a regular basis. Institutional investors that regularly trade outperform those that trade less regularly. The performance of funds that regularly trade persists for at least a year. Among those who trade most regularly, larger funds perform relatively worse, because they incur higher transaction costs associated with their larger trades. Institutions that regularly trade generate superior performance, in part, by behaving as contrarians and by trading more aggressively on information. By contrast, we find no relation between trading regularity and performance among index funds.

An Evaluation Of The Forecast Performance Of Dsge And Var Models: The Case Of A Developing Country, Shahzad Ahmad, Adnan Haider

Business Review

This paper estimates a DSGE model and three versions of VAR models (VARX, BVARX and BVAR) to analyze forecasting performance of these models in context of Pakistan. VAR models and a medium-scale DSGE model are estimated using quarterly data (1980Q4-2017Q2). Expanding window recursive out-of-sample forecasts for GDP growth, call money rate, CPI inflation and percent change in exchange rate are generated and compared over the period 2009Q1-2017Q2. Forecasting performance is analyzed by the comparison of bias and root mean squared errors (RMSE). Analysis of forecasting performance over 1-8 quarters forecast horizon reveals that BVAR model provides relatively better forecast in …

Providing Protection For Better Outcomes: The Need For Boundary Walls At Schools In Pakistan, Abbas Ali Gillani

Business Review

This paper explores the importance of a boundary wall at school as a measure of protection and safety, by testing the correlation between a school having a boundary wall and its total enrolment. By using panel data estimation with year and district fixed effects we find that across all levels of schooling, having a boundary wall was correlated with higher total enrolment. Enrolment at primary, middle and high school was 4.0 per cent, 2.3 per cent and 3.0 per cent higher. Gender-wise breakup of the results shows similar correlation for both boys and girls at primary level. However, at middle …

The Reversal Strategy: A Test Case For An Emerging Market, Hilal Anwar Butt, Mohsin Sadaqat

Business Review

The reversal strategy in the Pakistan Stock Market has shown significant profits for the time period January 1993 - September 2017. The available asset pricing models are unable to link these returns with the risk premium. This paper explores an alternative channel of predicting risk premium. It suggests that reversal profits can be considered as compensation for providing liquidity to the market during times of high volatility. Results reveal that reversal is stronger for illiquid and volatile stocks. Furthermore, firms that show reversal, are cash constrained, have lower return on asset (ROA) and equity (ROE), lesser operating profitability (OP), investment …

Emotional Intensity: An Additional Dimension To Understand Emotional Confidence And Purchase Intentions, Wajid Hussain Rizvi

Business Review

This paper explores the role of emotional intensity as a determinant of emotional confidence and purchase intentions. It analyzes the difference between low and high emotional confidence and emotional intensity groups in terms of their purchase intentions in the car buying context. Only valence and combined valence-intensity structural models were used to assess respective influences on emotional confidence. The results reveal that the combined impact of valence and intensity has a greater positive and significant influence on emotional confidence. Furthermore, groups with higher emotional confidence and higher emotional intensity show higher purchase intentions. This study contributes to a better understanding …

Financial Sector In Singapore, Hwee Kwan Chow, Sai Fan Pei

Research Collection School Of Economics

This chapter reviews the financial development strategies adopted by the Singapore government as it navigates internal and external changes to build a vibrant center of finance in the Asia Pacific region. Sections 2 and 3 provide an overview of the structure of the financial system and the financial governance framework respectively. This is followed by a discussion, in Section 4, on the outward looking development strategy that underpinned the successful development of Singapore’s financial sector. Section 5 highlights the reforms undertaken in the aftermath of the Asian financial crisis that led to the building of a well-diversified and thriving international …

Visions Of The Future In Budgetary Discourse, Ewan Macdonald, Brendan O'Rourke, John Hogan

Conference papers

Whilst there is ample precedent to argue against the common-sense notion that the ideological leanings of political parties are congruent with their implementation of fiscal policy (Boix, 2000; Garrett & Lange, 1991; Hibbs, 1977; Liargovas & Manolas, 2007), there is a relative dearth of research on the role of discourse in shaping fiscal policy with one notable exception by Maatsch (2014). With this in mind, we approach the issue of examining fiscal policy through a fixed, contested and subverted within particular texts” (Howarth, 2005, p. 341). This paper examines how the future is constructed in Irish budget speeches delivered between …

Mekanisme Penghitungan Kembali Pajak Masukan Bagi Pengusaha Kena Pajak Yang Melakukan Penyerahan Terutang Dan Dibebaskan Dari Pajak Pertambahan Nilai, Hadining Kusumastuti, Dinda Alisya Putri

Jurnal Administrasi Bisnis Terapan

The Mechanism of Recalculation of Input Tax conducted by PT X and the Tax Office and the appropriateness of the Input Response Mechanism in accordance with the applicable regulations, namely Regulation of the Minister of Finance of the Republic of Indonesia No. 135 / PMK.011 / 2014 on Guidelines for Counting Income Tax Crediting for Taxable Entrepreneurs Submitting Unpaid Taxes and Submissions. Data collection techniques used in the preparation of this final assignment is using Library Studies and Field Research. Through the analysis that has been done can be deduced that in terms of the regulation applicable mechanism of Input …

Implementasi Tanggung Jawab Pialang Asuransi Dalam Penyelesaian Klaim, Karin Amelia Safitri, Zefanya Oscar Mahaputra

Jurnal Administrasi Bisnis Terapan

Implementation Of Liability Of Insurance Manufacturers In Completion Of Claim. The responsibility of insurance brokers is very important in providing an appropriate solution in identifying the risks that exist on the insured. As representatives of the insured, the responsibility of insurance brokers as representatives of the insured party is entitled to act in liaison between the insured party and the insurance company. This study aims to describe the responsibility of insurance brokers related to Law No.40 of 2014 on how to solve customer problems. The method used is qualitative method, to know the clear picture about the problems studied. Data …

Kolaborasi Antara Universitas, Industri Dan Pemerintah Dalam Meningkatkan Inovasi Dan Kesejahteraan Masyarakat: Konsep, Implementasi Dan Tantangan, Basuki M. Mukhlish

Jurnal Administrasi Bisnis Terapan

In the study of inter-organizational relationships, there is a tendency to look at relationships between two organizations (dyadic), and social networks are considered to be a combination of a number of dyadic relationships. There are often third parties who play a role in influencing the relationship between the two organizations, so the relationship becomes triadic. The third party referred to here is a relationship counselor who has a go-between role to safeguard, cultivate and develop social capital, help, adjust and resolve relationships between the two parties. One of the institutions that have a third role are innovation centers that have …

Proses Akuisisi Koleksi Buku Di Perpustakaan Bank Indonesia, Niko Grataridarga, Radityo Kusumo Santoso, Alif Rizky Ramadhani

Jurnal Administrasi Bisnis Terapan

This study discusses the collection acquisition of books in the library of Bank Indonesia to see the course of the process. Acquisition process used various methods such as collection purchases, grants or gifts, information resource sharing, and independent publications. This research method used qualitative method with case study at Bank Indonesia Library where they have Collection Development Division. Data collection is done by way of observation participation, interview, and documents observation. The results that can be reviewed are acquisition processes at Bank Indonesia including purchasing activities and independent publications of the parent organization. The conclusion is that Bank Indonesia Libraries …

Penyelesaian Piutang Negara Pada Perusahaan Bumn: Sebuah Peran Penting Kementerian Keuangan Republik Indonesia, Vindaniar Yuristamanda Putri, Vionika Apriliasta Ginting

Jurnal Administrasi Bisnis Terapan

The purpose of this paper is to describe the role of The Ministry of Finance of the Republic of Indonesia in the settlement process of state receivable which sourced from RDI (Investment Fund Account) on State Owned Enterprises (case study of PT.X). This research uses qualitative and quantitative method with a descriptive approach to answer the research questions. Investment in SOE company (PT.X) has some issues regarding of repayment by the company. This needs to be resolved by the Ministry of Finance through Directorate of Investment Management System. The settlement process of state receivables are regulated in PMK No.13/PMK.05/2016 by …

Efektivitas Program Pelatihan Program Pengendalian Infeksi (Ppi) Melalui Evaluasi Pre Test Dan Pos Test Di Bagian Diklat Rumah Sakit Pusat Otak Nasional (Rsp Pon), Nur Fadilah Dewi, Yulial Hikmah

Jurnal Administrasi Bisnis Terapan

Education and Training National Brain Center Hospital is the part that takes care of all matters related to education and training of hospital staff. One type of training is held, namely the Training of Prevention and Control of Infection. Prevention and Control of Infection training is a systematic and planned effort to control the spread of hospital infections. This study aims to determine the effectiveness of infection control program training to employees of National Brain Center Hospital by using pre-test method before training and post-test after training. Research subjects amounted to 30 participants. This research is a quantitative research by …

Analisis Implementasi Se No.26/Pj/2015 Tentang Penegasan Penggunaan Nomor Seri Faktur Pajak Dan Tata Cara Pembuatan Faktur Pajak Ditinjau Dari Asas Ease Of Administration (Studi Kasus Pt Mi), Elsie Sylviana Kasim, Poppy Viendya

Jurnal Administrasi Bisnis Terapan

This study discusses the implementation analysis of SE No. 26 / PJ / 2015 on the affirmation of the use of the Tax Invoice number and the procedure for making the Tax Invoice from the principle of ease of administration (case study of PT MI). Data collection techniques used in this study is literature studies (Library Research) and field studies (Field Research). The results of research and analysis can be concluded as follows SE implementation No. 26 / PJ/ 2015 does not provide certainty to the Taxpayer, not efficient because the Taxpayer is required to pay a fine, not convenience …

ضرورة تفعيل دور المحاسبة القضائية وتطويرها في العراق, ميثم مالك راضي, عبد الزهرة سلمان الروازق

Muthanna Journal of Administrative and Economics Sciences

يهدف هذا البحث الى تسليط الضوء على اهمية المحاسبة القضائية والحاجة الملحة الى تفعيل وتطوير دورها في العراق للمساعدة في حل الكثير من المشاكل المالية والقضائية. اذ يعاني العراق من مشاكل عديدة نتيجة غياب دور المحاسبة القضائية وعدم الاستفادة من خدماتها وخبرائها في الكثير المشاكل المالية والقضائية العالقة. تم صياغة هذا البحث من خلال الاعتماد على خمس فرضيات رئيسة وثلاث فرضيات فرعية. ركزت الثلاث فرضيات الاولى على اهمية الحاجة الى خدمات المحاسبة القضائية في العراق واهم القطاعات والمجالات التي يمكن الاستفادة من خدماتها فيها, في حين ركزت الفرضية الرابعة على المهارات الضرورية والمناسبة التي ينبغي ان يتمتع بها المحاسبين القضائيين …

دور الإفصاح المحاسبي عن التكاليف البيئية في الشركات الصناعية العراقية دراسة تطبيقية على بعض الشركات المدرجة في سوق بغداد للأوراق المالية, عزيز محمد عزيز

Muthanna Journal of Administrative and Economics Sciences

يهدف هذا البحث إلى إظهار أهمية القياس والتسجيل لمشكلة التلوث البيئي، التي تحدثه المنشآت الصناعية في حياتنا اليومية، وذلك في ضوء القوانين واللوائح التشريعية للحفاظ على البيئة، وعدم تهديد الثروة النباتية والحيوانية والإنسانية بشكل عام، ولزيادة قدرتها التنافسية في بيئة التصنيع الحديثة. ولم تأتي هذه الدراسة من فراغ، بل جاءت بعد تعرض البيئة للتلف الذي لا يمكن تعويضه نتيجة للأثار السلبية الناتجة عن التلوث البيئي، ولتحقيق اهداف هذه الدراسة اعتمد الباحث في الجانب النظري على المنهج الاستنباطي وفي الجانب العملي على المنهج الاستقرائي من خلال توزيع استمارة استبيان على مجتمع العينة الذي تمثل بمجتمع المحاسبين معدي القوائم والتقارير المالية في …

الاعتراف والقياس المحاسبي لراس المال الفكري في المنظمات الهادفة للربح دراسة تطبيقية على مجموعة مختارة من المصارف العراقية, صفا مهدي راجي, باسم عبد الله كاظم

Muthanna Journal of Administrative and Economics Sciences

لقد اطلق الباحثون على الموجودات غير الملموسة التي تشكل المورد الاستراتيجي لثروة المنظمة وازدهارها , مصطلح راس المال الفكري لذلك فان راس المال الفكري يتمثل بالإمكانيات المتاحة لإدارة المنظمة المتعلقة بقدرات وكفاءة العاملين والعلاقة الجيدة مع الزبائن التي يتظافر استخدامها مع الموارد المادية الاخرى , ويمكن خلق الابداعات ومن ثم التفوق والتميز , وعليه فان راس المال الفكري من وجهة نظر الباحثين وفي مقدمتهمKaplan و lomerson يعد دالة لخلق القيمة وأحد الاركان الرئيسية في نظم تقويم الاداء المعاصرة , بينما استنتجنا من خلال هذا البحث هناك حاجة فعلية الى استخدام مقياس القيمة المضافة لقياس راس المال الفكري مكملا لمقاييس الربحية …

اطار مقترح لمعالجة الموجودات الثابتة المشتركة بين الدراسات الصباحية والمسائية في الجامعات الحكومية العراقية – بحث تطبيقي في احدى كليات الجامعات الحكومية, وعد هادي عبد الحساني, عقيل دخيل كريم الاعاجيبي

Muthanna Journal of Administrative and Economics Sciences

يهدف البحث الى التعرف على ماهية الموجودات الثابتة بشكل عام وماهية الموجودات الثابتة في ظل البيئة العراقية ، تسليط الضوء على الاطار القانوني للدراسات المسائية بشكل عام والى ايرادات الدراسات المسائية لعينة البحث . تطبيق الاطار المقترح لمعالجة الموجودات الثابتة المشتركة لعينة البحث مقارنة مبالغ الصيانة للموجودات الثابتة المحددة بالقانون والمنفقة فعلياً للدراسات المسائية ، مع مبلغ الاندثار الذي تم احتسابه وفق الطريقة المقترحة ، لقياس مدى المحافظة على الموجودات الثابتة ، ومن اهم الاستنتاجات التي توصل اليها الباحثان هي ان التعليمات الخاصة بالدراسات المسائية رقم (١٣٥) لسنة ٢٠٠٠ ، حددت ان تكون هناك نسبة من ايرادات الدراسات المسائية لصيانة …

اثر المصارف المتخصصة في التمويل والاستثمار لتعزيز القدرة التنموية في العراق دراسة حالة المصرف العقاري في محافظة المثنى للمدة 2002 – 2016, علي كريم محمد

Muthanna Journal of Administrative and Economics Sciences

تعد موضوعة المصارف المتخصصة واثرها في التمويل والاستثمار لتعزيز القدرة التنموية من الموضوعات التي تحظى باهتمام الاقتصاديين من خلال البحث في طبيعة العلاقة بين تلك المتغيرات وتحليل اثر حجم التمويل الممنوح من المصرف العقاري وتعزيزه للقدرة التنموية وتحديد الدور الرئيسي للمصارف المتخصصة من خلال وضع ورسم السياسات الاقتصادية المناسبة لتفعيل ذلك الدور ويهدف البحث الى المحاولة في وضع ورسم السياسات المالية المناسبة لتفعيل دور المصارف في الاقتصاد العراقي وتتلخص فكرة البحث في تحليل فاعلية المصرف العقاري ومدى مساهمته في عملية التنمية الاقتصادية وهل يقوم المصرف العقاري بدوره ام يسعى الى تحقيق الربح مثله مثل المصارف التجارية الاخرى فضلا” عن دراسة …

مدى الاستفادة من قرار التعهيد الالكتروني في خفض تكاليف التشغيل في المنشآت الصناعية دراسة تطبيقية, مصطفى نجم البشاري, فارس عبد الزهرة الخالدي

Muthanna Journal of Administrative and Economics Sciences

هدفت الدراسة الى تقييم الوضع الحالي لسلوك تكاليف التشغيل في المنشآت لصناعية بغرض بيان أثر عمليات التعهيد الالكتروني على خفض هذه التكاليف، وتحقيق وفورات مهمة لغرض التسعير والربحية، وتبني البحث دراسة الحالة لأحد الشركات الصناعية العراقية ،حيث تم إجراء التحليل المحاسبي قبل وبعد عمليات التعهيد الالكتروني من خلال تكنولوجيا الحوسبة السحابية، وانتهت الدراسة قبول الفرض القائل بأن عمليات التعهيد الالكتروني تدعم استراتيجيات خفض تكلفة التشغيل في الشركات الصناعية العراقية . ومن هذا المنطلق تم التخلي عن الأنظمة المحاسبية التقليدية لصالح الأنظمة الإلكترونية وأنظمة الحوسبة السحابية التي تعتمد على الوسائل الالكترونية من الأجهزة والشبكات والبرامج وقواعد البيانات في تشغيل البيانات (المدخلات) …