Political risks and financial markets: emerging vs developed economies

Ghozzi, Bechir Ben; Chaibi, Hasna

doi:10.1108/emjb-11-2020-0123

Cited by 13 publications

(3 citation statements)

References 30 publications

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“…This makes the MENA region more sensitive to political instability and, thus, financial and economic vulnerability. Moreover, Ben Ghozzi and Chaibi (2022) show that emerging and developed economies are both affected by unexpected events. Finally, the reason for using this data in this way is to compare and provide a better analysis within both banking systems.…”

Section: Introductionmentioning

confidence: 99%

Risk and performance of Islamic and conventional banks under COVID-19 pandemic: Evidence from MENA region

Ghenimi,

Chaibi,

Omri

2024

AGJSR

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PurposeThe aim of this study is to conduct a comparative analysis between Islamic and conventional banks in terms of whether Islamic banks was more or less resilient/risky than conventional counterparts to the pandemic shock. It also examines the role of capital in improving the performance and stability within the two banking systems.Design/methodology/approachThis study uses 82 banks from MENA (Middle East and North Africa) region for periods across 2011–2020, and employs a dynamic panel data approach to examine the resilience within both banking systems during the Covid-19 pandemic.FindingsThe results show that the Covid-19 pandemic has a negative impact on conventional banks' stability. However, Islamic banks performed better and were less risky than conventional ones. Banks with high-quality capital are more effective at controlling their risks and improving their performance during the pandemic.Practical implicationsThe results offer important financial observations and policy implications to many stakeholders engaging with banks. Actually, the findings of this study facilitate to the stakeholders and bankers to have an alluded picture about determinants of risk and performance. The results can be used by bankers’ policy decision-makers to improve and enhance their consideration for risk management, taking into consideration the type of banking systems.Originality/valueCompared to the various studies on the stability of Islamic and conventional banks, researchers have not sufficiently addressed the effect of the Covid-19 pandemic on risk and performance. Moreover, none of these studies has examined if Islamic banks was more or less resilient/risky than conventional counterparts to the pandemic shock. This leads the authors to identify the similarities and differences between two types of banks in the MENA region in a pandemic shock context.

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Section: Introductionmentioning

confidence: 99%

Risk and performance of Islamic and conventional banks under COVID-19 pandemic: Evidence from MENA region

Ghenimi,

Chaibi,

Omri

2024

AGJSR

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“…Economic markets and economic activities in general entail a multitude of risks deriving from macroeconomic and microeconomic factors, but also from political and social contexts [1][2][3][4][5][6].…”

Section: Introductionmentioning

confidence: 99%

Sources of SMEs Financing and Their Impact on Economic Growth across the European Union: Insights from a Panel Data Study Spanning Sixteen Years

et al. 2022

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Getting access to sufficient funding is the keystone for the development of any business, but especially for small and medium enterprises (SMEs). These economic entities are crucial players in the global economy since they include almost 90% of companies, provide jobs for nearly 50% of the global workforce, and enhance long-term economic growth. In this context, our study explores important sources concerning the financing of small and medium enterprises and their impact on economic growth during the period 2005–2020 with data from SMEs covering the 28 countries belonging to the European Union. The set of predictors included Strength of legal rights index, Days sales outstanding, Bad debt loss, Interest rate, Bank support, Business angels, Private lenders, and Public support. The set of dependent variables included Cost of loans, Equity fund, GDP growth rate, and Value added growth rate. Our methodological approach was complex, it considered a panel data analysis with a first-difference generalized method of moments estimator and a multiplex time series analysis. The novelty of the study resides in combining the two methods in order to investigate significant drivers of economic growth across the EU. Empirical results showed that economic growth was mainly triggered by predictors such as Interest rate, Business angels, Bank support, and Public support. Moreover, the valuable mathematical insights elicited by the multiplex time series analysis suggested that European economies cooperated intensively through SME activities. Based on our empirical results, national and regional authorities should enact adequate policies to support business endeavors of small and medium enterprises.

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“…Comparing the magnitude of positive and negative changes in political risk on the equity market, it is important to note that the South African stock market is highly influenced by negative changes in political risk. Related empirical research often finds that political uncertainty has explanatory power for stock market returns (Dimic et al, 2015;Lehkonen, 2015;Ben Ghozzi and Chaibi, 2022).…”

Section: Effect Of Country Risk Components On the Stock Marketmentioning

confidence: 99%

Country risk components and financial asset markets interdependence: evidence from South Africa

Nhlapho

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I, Rethabile Nokulunga Nhlapho, declare that: (i) The research reported in this dissertation/thesis, except where otherwise indicated, is my original research.(ii) This dissertation/thesis has not been submitted for any degree or examination at any other university.(iii) This dissertation/thesis does not contain other persons' data, pictures, graphs or other information, unless specifically acknowledged as being sourced from other persons.(iv) This dissertation/thesis does not contain other persons' writing, unless specifically acknowledged as being sourced from other researchers. Where other written sources have been quoted, then: a) their words have been re-written but the general information attributed to them has been referenced; b) where their exact words have been used, their writing has been placed inside quotation marks, and referenced.(v) Where I have reproduced a publication of which I am author, co-author or editor, I have indicated in detail which part of the publication was actually written by myself alone and have fully referenced such publications.(vi) This dissertation/thesis does not contain text, graphics or tables copied and pasted from the Internet, unless specifically acknowledged, and the source being detailed in the dissertation/thesis and in the References sections.Signed: ____________________ iii ACKNOWLEDGEMENTS I would like to thank and praise God for sustaining me, and for giving me the courage and faith throughout this academic journey. My sincerest gratitude to my supervisors, Prof Muzindutsi and Dr Obalade, for their invaluable support and comments. Your patience and expert guidance played a critical role in the completion of this dissertation. Thank you for your continuous commitment to my growth and your guidance, that helped to mold this dissertation into a significant contribution to the field. I am also thankful to the School of Accounting, Economics and Finance, and the Macroeconomics Research Unit (MRU) for their assistance in providing resources and facilitating the research process. I am deeply grateful to the Finance team for a encouraging words and motivating me to push through. A special thank you to Prof MCullough, for her insights and consistent encouragement. Thank you for taking the time to read through my work and providing guidance. Thank you to Dr R Partab for her valuable input and the motivational quotes that lifted my spirits. I extend my deepest appreciate to my family for their support throughout my academic journey. Thank you for your prayers, sacrifices and guidance over the years. I would like to express my gratitude to my mom -Mrs Nelisiwe Nhlapho, my sister -Ms Dimakatso Nhlapho, my aunts -Ms Phindi Zungu and Mrs Phumzile Zibisi, uncle -Mr Zibisi, and my cousins -Thula Zungu and Sthe Zungu. A special note of thanks to my extended family for their support; uncles, aunts, sisters, brothers and cousins. I sincerely hope I have made each of you proud! I wish to convey my sincerest gratitude to all those who have supported and guided me throughout this journ...

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Political risks and financial markets: emerging vs developed economies

Cited by 13 publications

References 30 publications

Risk and performance of Islamic and conventional banks under COVID-19 pandemic: Evidence from MENA region

Risk and performance of Islamic and conventional banks under COVID-19 pandemic: Evidence from MENA region

Sources of SMEs Financing and Their Impact on Economic Growth across the European Union: Insights from a Panel Data Study Spanning Sixteen Years

Country risk components and financial asset markets interdependence: evidence from South Africa

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