Relationship between institutional quality and stock market performance: Evidence from emerging economies

Winful, Ernest Christian; Sarpong, David; Agyei-Ntiamoah, Jones

doi:10.5897/ajbm2016.8153

Cited by 14 publications

(6 citation statements)

References 19 publications

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“…It was concluded that in the case of developed economies stock markets operate under efficient governance and institutional framework to enhance the stock returns and lower level of risk. Results are consistent with ((Winful et al, 2016;Marshall et al, 2017;Eldomiaty et al, 2019) Incorporating the role of control variables in determining the stock market returns in Advanced countries. GDP Deflator, Trade openness, short-term interest rate, and oil price have a significant negative influence on the stock market returns.…”

Section: Ar(1) Ar(2)supporting

confidence: 77%

Nexus between Fiscal Performance and Stock Market: Does Institutional Quality Matter?

Habib,

Aftab

2023

JPR

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This study analyses the relationship between the stock market and fiscal performance by adding the moderating role of institutional quality in the nexus between fiscal performance and the stock market in advanced countries. The study employs panel data of advanced countries with the span of 2007-2021 using the Generalized method of moments(GMM). The results find that fiscal performance plays a major role in determining the stock market returns, more over institutional quality further enhancing the relationship between fiscal performance and the stock market. This study contributes to ongoing literature by providing new evidence on the moderating role of institutional quality in the nexus between fiscal performance and the stock market.

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Section: Ar(1) Ar(2)supporting

confidence: 77%

Nexus between Fiscal Performance and Stock Market: Does Institutional Quality Matter?

Habib,

Aftab

2023

JPR

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“…The study used carbon emissions (AirQ) as the air quality variable and GDP (in constant 2015 US$) as the total output variable. Investments made for the transition to renewable energy as green nance (GF) variable, REC and NREC as energy consumption (EC), and institutional quality variable (IQ) were calculated as the average of 5 different indexes calculated by the World Bank ( Winful, Sarpong, & Ntiamoah, 2016). These; include accountability, the role of law, effectiveness of government, quality of regulation, and control of corruption.…”

Section: Datamentioning

confidence: 99%

Does green finance and institutional quality play an important role in air quality

Çitil

İlbasmış

Olanrewaju

et al. 2023

Environ Sci Pollut Res

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As the negative repercussions of environmental devastation, such as global warming and climate change, become more apparent, environmental consciousness is growing across the world, forcing nations to take steps to mitigate the damage. Thus, the current study assesses the effect of green investments, institutional quality, and political stability on air quality in the G-20 countries for the period 2004-2020. The stationarity of the variables was examined with the Pesaran (2007) CADF, the long-term relationship between the variables by Westerlund ( 2007), the long-run relationship coe cients with the MMQR method proposed by Machado & Silva (2019), and the causality relationship between the variables by Dumitrescu & Hurlin (2012) panel causality. The study ndings revealed that green nance investments, institutional quality and political stability increased the air quality, while total output and energy consumption decreased air quality. The panel causality reveals a unidirectional causality from green nance investments, total output, energy consumption and political stability to air quality, and a bidirectional causality between institutional quality and air quality. According to these ndings, it has been found that in the long term, green nance investments, total output, energy consumption, political stability, and institutional quality affect air quality. Based on these results, policies implications were proposed.

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“…When institutions are strong the financial sector performs well and plays a role in the growth of GDP (Rashid and Intartaglia, 2017). Winful et al, (2016) also concluded in their study that institutional quality plays a positive role in the performance of the stock market. Results support the hypothesis of this study.…”

Section: Resultsmentioning

confidence: 92%

Corporate Governance and Information Asymmetry

Akmal¹,

Rashid²,

Amin³

2022

Forman J. econ. stud.

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The financial industry is regarded as the backbone of the economy, and good corporate governance is critical to its smooth operation. Keeping in view the importance of corporate governance, this study aims to empirically investigate the impact of corporate governance on information asymmetry with moderating role of institutional quality of Islamic and conventional financial institutions. We used unbalanced panel data from 2006 to 2017 of 49 financial institutions including commercial banks, insurance companies, and Modaraba companies. A two-step system-Generalize Method of Moments (GMM) estimator is used to mitigate the endogeneity problem. Corporate governance of Conventional Financial Institutions (CFIs) is significantly related to information asymmetry however, the board size, and board composition of Islamic Financial Institutions (IFIs) are insignificant with asymmetric information index (AII). Further, the size of the shari’ah board is negatively and significantly related to AII. Institutional Quality (IQ) is significantly contributed toward the reduction of information asymmetry and plays a role as a moderator. Further, the impact of corporate governance on IFIs and CFIs differs due to the nature and contractual relationship of the parties and the institution’s type. The results of the study reveal that good quality institutions are important for corporate governance structure and the reduction of information asymmetry in financial institutions.

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Relationship between institutional quality and stock market performance: Evidence from emerging economies

Cited by 14 publications

References 19 publications

Nexus between Fiscal Performance and Stock Market: Does Institutional Quality Matter?

Nexus between Fiscal Performance and Stock Market: Does Institutional Quality Matter?

Does green finance and institutional quality play an important role in air quality

Corporate Governance and Information Asymmetry

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