Privately Owned Companies Dominate Renewable Energy Generation Ownership Around The World,
2025
Singapore Management University
Privately Owned Companies Dominate Renewable Energy Generation Ownership Around The World, Dyaran Bansraj, Theodor Florian Cojoianu, Xi Hu, Khaladdin Rzayev, Francisco Urzua
Research Collection College of Integrative Studies
Global sustainable finance policies are premised on publicly listed companies driving decarbonization through transparency, investor pressure, and capital market access. Analysing c. 20,000 corporate owners of renewable and fossil-fuel assets worldwide, we show the opposite: private firms own approximately 75% of global renewable generation capacity. This private dominance holds across all major technologies and regions, with listed ownership of renewable assets being the majority only in the oil & gas and technology sectors. The Paris Agreement did not alter this balance. Instead, ownership of the energy transition reflects countries' financial structures, with similar patterns observed across manufacturing, construction, and financial …
Connectedness Of Uncertainty, Volatility, And Stock Market Performance,
2025
University of Warsaw, Poland
Connectedness Of Uncertainty, Volatility, And Stock Market Performance, Szczepan Urjasz
Journal of Banking and Financial Economics
This study examines the dynamic connectedness and spillover effects among various financial and economic indicators, including uncertainty indices, market volatility, and stock market indices, from 3 June 2008, to 30 December 2024. This interconnectedness implies that shocks originating in one market or asset class can rapidly transmit to others, underscoring the potential for systemic risk and financial contagion. The US emerges as a significant net transmitter of influence within the global financial system, with the VIX playing a crucial role in influencing global financial conditions. Major European equity markets also transmit influence, while the Geopolitical Risk Index (GRI) and the …
Financial Safety Nets, Bank Risk And Depositor Behaviour In Central And Eastern Europe,
2025
Institute of Economics and Finance, University of Szczecin, Poland
Financial Safety Nets, Bank Risk And Depositor Behaviour In Central And Eastern Europe, Dorota Skała
Journal of Banking and Financial Economics
We studied expansions in financial safety nets and their relation to bank risk and depositor behaviour in Central and Eastern Europe, using time-varying regulatory data. In general, we find that stronger deposit insurance and state aid granted to banks are linked with both bank risk and depositor behaviour. However, these relations critically depend on whether safety net instruments are used separately or simultaneously. When deposit insurance is strengthened or state aid is granted, we confirm the standard moral hazard behaviour of banks visible in higher bank risk. In parallel, we observe more elevated deposit growth, implying lower market discipline. Conversely, …
Exploring Private And Governmental Interest In Bitcoin,
2025
University of Denver
Exploring Private And Governmental Interest In Bitcoin, Mina Khadem
Undergraduate Theses, Capstones, and Recitals
Regardless of one’s opinion, Bitcoin’s presence in the global economy is growing. However, Bitcoin’s emerging role and its implications are greatly under-researched, particularly in the context of government interest in Bitcoin. Nonetheless, increased private investment in Bitcoin and increased government interest in formally incorporating Bitcoin into existing economic systems, suggest a new development within the global economy that must be investigated. Through qualitative text analysis of pro-Bitcoin narratives presented in digital media platforms and official government policies and public statements, this thesis explores how private and government interest in Bitcoin is explained and framed within these contexts. This study finds …
Exploring The Bank Lending Channel: How Bank Characteristics Shape Monetary Policy Effectiveness,
2025
Department of Economics, Faculty of Management, University of Warsaw
Exploring The Bank Lending Channel: How Bank Characteristics Shape Monetary Policy Effectiveness, Filip Świtała
Journal of Banking and Financial Economics
This paper examines how individual bank characteristics influence the transmission of monetary policy through the bank lending channel. Using panel data and a Fixed Effects model validated by the Hausman test, the author analyses how bank size, capitalization, profitability and asset quality affect responses to monetary tightening. The study highlights the importance of inter-bank differences in shaping monetary policy effectiveness and offers insights for regulatory frameworks and macroprudential policies aimed at strengthening financial stability.
Investigating The Relationship Between Noun Classes And Plant Folk Taxonomy In Chasu Language Of Kilimanjaro Region In Tanzania,
2025
Sokoine University of Agriculture
Investigating The Relationship Between Noun Classes And Plant Folk Taxonomy In Chasu Language Of Kilimanjaro Region In Tanzania, Peter Rabson Mziray
Journal of Humanities and Social Sciences
The current study investigates the relationship between noun classes and plant folk taxonomy in Chasu (G 22). The study focuses on two objectives: the first objective is to describe the plant folk taxonomy in Chasu and the second objective is to determine the relationship between noun classes and plant folk taxonomy in Chasu. Data were collected from rural villages in Same and Mwanga districts by using free listing, field interviews (jungle-walk-and-identify), and written texts containing Chasu plant names. The findings reveal that Chasu folk taxonomy reflects different ethnobotanical categories; including a unique beginner which is mmea/mimea ‘plant(s)’, and three life …
Can Limited Partners Mitigate Negative Externalities In Private Equity?,
2025
Singapore Management University
Can Limited Partners Mitigate Negative Externalities In Private Equity?, Teodor Duevski, Chhavi Rastogi, Tianhao Yao
Sim Kee Boon Institute for Financial Economics
We show how Limited Partners' (LPs) environmental and social (E&S) concerns transmit to private equity (PE) rms through capital supply. E&S incidents in portfolio companies reduce PE fundraising, as E&S-concerned relationship LPs refrain from recommitting and are not easily substituted. Using a legal reform that expands E&S-concerned public pension capital to PE, we causally show that PE rms internalise LPs' E&S concerns, reducing dirty sector portfolio allocation and increasing ESG hiring. Additionally, PE rms with E&S- concerned relationship LPs engage with portfolio companies to manage E&S risks. Limited capital substitutability enables LPs to delegate E&S preferences, shaping PE allocation and …
Shining A Light On Firms’ Political Connections: The Role Of Dark Money,
2025
University of South Carolina
Shining A Light On Firms’ Political Connections: The Role Of Dark Money, Matthew Denes, Madeline Scanlon
Faculty Publications
We study the emergence of a new channel for firms’ political activity using dark money through undisclosed and unlimited contributions. After the U.S. federal court decisions in 2010, S&P 500 firms substantially increased their use of dark money. We find that dark money contributions complement political engagement through campaign contributions and lobbying. Firms disclose dark money contributions when they face heightened nondisclosure costs. Firms contributing to dark money groups benefit by receiving more procurement contracts and increased government subsidies. Our findings highlight that political connections by firms are evolving and expanding through new and largely unexplored channels. (JEL D72, …
Price Dislocations: Insights From Trade Repository Data,
2025
Singapore Management University
Price Dislocations: Insights From Trade Repository Data, Albert Menkveld, Lucas Saru, Shihao Yu
Research Collection Lee Kong Chian School Of Business
This paper identifies price dislocation events in EuroSTOXX 50 futures, i.e., periods marked by high absolute returns. Combining public limit order book data with confidential trade repository data collected under the European Market Infrastructure Regulation (EMIR), we analyze market conditions around such dislocations. We find that price dislocations are accompanied by an increase in trading volume, and in the number of trades. EMIR data enables us to identify who participates in these trades, which allows us to tell if the volume increase is driven by fewer investors trading more, i.e., a more concentrated market, or by more investors participating. The …
Unlocking Private Equity Investing,
2025
Singapore Management University
Unlocking Private Equity Investing, Yin Wang, Steve Balaban
Asian Management Insights
Myths and market shifts to take note of.
Estimating The Value Of 5c’S Of Credit Analysis In Newbuilding Ship Loans,
2025
World Maritime University
Estimating The Value Of 5c’S Of Credit Analysis In Newbuilding Ship Loans, Gwanglyong Park, Xinyi Ruan
World Maritime University Dissertations
No abstract provided.
Case Series Overview: Analysis Of Innovation Applications And Value Driven By Aigc Technology—An Early Investment Perspective In The Chinese Market,
2025
Qifu Capital
Case Series Overview: Analysis Of Innovation Applications And Value Driven By Aigc Technology—An Early Investment Perspective In The Chinese Market, Siyuan Ma, Mengyu Wang, Tianyi Zhang
Sim Kee Boon Institute for Financial Economics
This case series explores the innovative applications and value analysis driven by AIGC (AI-generated content) technology from the perspective of early-stage investments in the Chinese market. We analyse the influence of core factors such as technology progression, market demand, policy environment, industry cycles and data on AIGC-driven value creation; case studies are provided to illustrate how AIGC has varying applications across different industries depending on market conditions. This series contains four cases: first, we first explore the investment opportunities of AIGC by combining the core technological value and industrial application status of generative AI, using China’s energy industry as a …
Credit Union Member Benefits: Does Local Religiosity Matter?,
2025
Ohio University
Credit Union Member Benefits: Does Local Religiosity Matter?, Travis Davidson, Thanh Ngo, Hongxia Wang
Finance and Economics
We examine the impact of religiosity on credit union member benefits and document a positive association between local religiosity and member benefits. Members of credit unions in more religious counties enjoy lower interest rates on loans, higher interest rates on deposits, and consequently lower interest spreads. The effect varies by credit union types, and results suggest a stronger association between religiosity and member benefits for credit unions with a narrower field of membership. Further analysis indicates local religiosity is associated with improved operating performance, lower non-interest expenses, and higher quality earning assets, but increased liquidity risk. The results are robust …
China’S Turn To Domestic-Led Growth: Replacing Consumption Taxes With Land Taxes?,
2025
Syracuse University
China’S Turn To Domestic-Led Growth: Replacing Consumption Taxes With Land Taxes?, Yilin Hou, Michael Kumhof, Lei Shao
Center for Policy Research
As part of its turn towards domestic-led growth China plans to stimulate consumption, including through a reduction in consumption taxes. We compare two model-based scenarios in which the revenue losses from lower consumption taxes are replaced by higher income taxes or higher land taxes. The model is carefully calibrated to recent Chinese data, including detailed fiscal data. We find that higher income taxes lead to significant losses in output and incomes, while higher land taxes lead to significant gains. These gains are increasing in the share of land in net wealth, a statistic for which better data would be invaluable.
Does Idiosyncratic Volatility Follow A Random-Walk? Evidence From U.S. Stocks,
2025
CUNY New York City College of Technology
Does Idiosyncratic Volatility Follow A Random-Walk? Evidence From U.S. Stocks, Zihan Cao, Ossama Elhadary
Publications and Research
In asset pricing literature, idiosyncratic volatility (IVOL) measures the firm-specific risk that is not explained by broader market movements. In this study, I investigate whether the idiosyncratic volatility (IVOL) of individual stocks follows a random-walk. Using monthly residuals from the Fama-French three-factor model (Fama & French, 1993), I estimate IVOL for more than 11,000 U.S. stocks, and apply the Augmented Dickey-Fuller test (Said & Dickey, 1984) to determine whether IVOL behaves like a random-walk. While most stocks display random-walk behavior, the proportion varies across industries, with some sectors showing deviations from random-walk behavior. Stocks with different levels of average return …
4 Of 4: Impact Of Policy And Technological Factors On Ai Innovation And Investment: The 2b Model Service Industry,
2025
Qifu Capital
4 Of 4: Impact Of Policy And Technological Factors On Ai Innovation And Investment: The 2b Model Service Industry, Siyuan Ma, Mengyu Wang, Tianyi Zhang
Sim Kee Boon Institute for Financial Economics
This case explores AI investment opportunities in 2B model services, particularly in sectors that intrinsically benefit from the reduction in human error. We will analyse applications in the legal industry as an example of overarching 2B model service trends.
3 Of 4: Analysis Of Innovation Applications And Value Driven By Aigc Technology: An Early Investment Perspective In The Chinese Market,
2025
Qifu Capital
3 Of 4: Analysis Of Innovation Applications And Value Driven By Aigc Technology: An Early Investment Perspective In The Chinese Market, Siyuan Ma, Mengyu Wang, Tianyi Zhang
Sim Kee Boon Institute for Financial Economics
This case series explores the innovative applications and value analysis driven by AIGC (AI-generated content) technology from the perspective of early-stage investments in the Chinese market. We analyse the influence of core factors such as technology progression, market demand, policy environment, industry cycles and data on AIGC-driven value creation; case studies are provided to illustrate how AIGC has varying applications across different industries depending on market conditions. This series contains four cases: first, we first explore the investment opportunities of AIGC by combining the core technological value and industrial application status of generative AI, using China’s energy industry as a …
2 Of 4: Impact Of Human Resource Factors On Ai Investment: Ai In The Human Resource Market,
2025
Qifu Capital
2 Of 4: Impact Of Human Resource Factors On Ai Investment: Ai In The Human Resource Market, Siyuan Ma, Mengyu Wang, Tianyi Zhang
Sim Kee Boon Institute for Financial Economics
This case will explore the implications that AIGC trends have on the development of the Chinese Human Resource (HR) market. While previous generation internet products were based on common needs and provided standardized products, the development of large AI models has opened doors to personalized custom products and services. Take AI applications in online education as an example: AI education models are developing to tailor to individual needs, since almost everything is not only digitalised but also based on dynamic database analysis for each user, including traffic distribution, sales conversion and service evaluation.
1 Of 4: Aigc Technology And Applications: Policy And Industry Development,
2025
Qifu Capital
1 Of 4: Aigc Technology And Applications: Policy And Industry Development, Siyuan Ma, Mengyu Wang, Tianyi Zhang
Sim Kee Boon Institute for Financial Economics
This case explores the investment opportunities of AIGC by combining the core technological value and industrial application status of generative AI. We then analyse the impacts of these large-scale sectoral changes in a study of AI in China’s energy industry. We are currently in the early stage of the generative AI industry, thus it is analysed more from the perspective of early value investment, including trend investment opportunities brought by macro cycles, inflection point investment opportunities brought by industry transformation and application, and value creation brought by disruptive innovation. The early investment in the Chinese market is also at a …
Technical Appendix: Analysis Of Innovation Applications And Value Driven By Aigc Technology—An Early Investment Perspective In The Chinese Market,
2025
Qifu Capital
Technical Appendix: Analysis Of Innovation Applications And Value Driven By Aigc Technology—An Early Investment Perspective In The Chinese Market, Siyuan Ma, Mengyu Wang, Tianyi Zhang
Sim Kee Boon Institute for Financial Economics
Following the introduction of generative AI/AIGC concepts and applications, it is necessary to clarify two related technical concepts: machine vision (CV) and convolutional neural networks (CNN). Computer Vision (CV) is a discipline that studies how to convert inputs such as images, sounds, and videos into a language that computers can understand. Taking 2D images as an example, all images can be broken down into very small pixels, each of which can be converted into a number (based on grayscale) or a combination of numbers. The number represented by each pixel is the feature of that pixel, and combining these numbers …
