ABSTRACT
Purpose: The authors investigate the impacts of international capital inflows on bank lending in the Association of Southeast Asian Nations-6 (ASEAN-6) countries on the dynamics of both bank loan volumes and credit risk-taking. The authors further explore the heterogenous impacts of different components of the foreign capital. As a robustness check, the authors also examine the role of crisis periods and agency problem on the relationship between international capital inflows and bank lending. Design/methodology/approach: The authors explore the impacts of international capital inflows on bank lending in the ASEAN-6 countries, including Malaysia, Indonesia, Thailand, Philippines, Singapore and Vietnam. The authors employ quarterly data from 2005Q1 to 2021Q2 from 45 commercial banks in the ASEAN-6 countries. The article uses bank-fixed and time-fixed effects in the panel dataset to account for any unobserved heterogeneity. Findings: The authors find that capital inflows to the ASEAN-6 countries are associated with higher bank loan growth and lower loan loss provisions to net interest income ratios. Moreover, the positive relationships between capital inflows to the bank loan growth and credit risk-taking are mainly driven by the dynamics in foreign direct investments (FDIs) and other inflow (OI) components. Contrary to the global financial crisis (GFC), the authors note that the mediating role of capital inflows on bank lending is of particular importance in the COVID-19 pandemic. Research limitations/implications: This study has some limitations that provide vendors for future research. First, while the authors focus on the impact of capital inflows on bank-level lending activities, future research can also explore the role of foreign capital on bank efficiency and financial stability. Second, although foreign capital fluctuates the most during crisis periods, the movement of capital inflows is also sensitive to other periods of heightened global uncertainty. Thus, rather than focus on the behavior of foreign capital during crisis periods, future research can examine and explore the impacts of capital inflows in different periods of "stop” and "surge” for sudden contraction and boom in capital inflows to the ASEAN-6 countries. Originality/value: First, the authors provide a comprehensive analysis of international capital inflows' impact on bank lending in the ASEAN region on both bank loan volumes and credit risk-taking. Second, the authors provide evidence of the impact of different forms of foreign capital on the bank lending. Third, the authors investigate the heterogeneous impact of foreign capital on crisis periods and bank sizes, which the authors emphasize the unusual characteristics of the COVID-19 crisis compared with the GFC. © 2023, Emerald Publishing Limited.
ABSTRACT
This study investigates the impacts of crude oil-market-specific fundamental factors and financial indicators on the realized volatility of West Texas Intermediate (WTI) crude oil price. A time-varying parameter vector autoregression model with stochastic volatility (TVP-VAR-SV) is applied to weekly data series spanning January 2008 to October 2021. It is found that the WTI oil price volatility responds positively to a shock in oil production, oil inventories, the US dollar index, and VIX but negatively to a shock in the US economic activity. The response to the EPU index was initially positive and then turned slightly negative before fading away. The VIX index has the most significant effect. Furthermore, the time-varying nature of the response of the WTI realized oil price volatility is evident. Extreme effects materialize during economic recessions and crises, especially during the COVID-19 pandemic. The findings can improve our understanding of the time-varying nature and determinants of WTI oil price volatility. © 2022
ABSTRACT
Our article employs a quantile vector autoregression (QVAR) to identify the connectedness of seven variables from April 1, 2019, to June 13, 2022, in order to examine the relationships between crypto volatility and energy volatility. Our findings reveal that the dynamic connectedness is approximately 25% in the short term and approximately 9% in the long term. The 50% quantile equates to the overall average connectedness of the entire period, according to dynamic net total directional connectedness over a quantile, which also indicates that connectedness is very intense for both highly positive changes (above the 80% quantile) and crypto and energy volatility (below the 20% quantile). With the exception of the early 2022 period when the Crypto Volatility Index transmits a net of shocks because of the Ukraine-Russia Conflict, dynamic net total directional connectedness implies that in the short term, the Crypto Volatility Index acts as a net shock receiver across time. While this indicator is a net shock receiver for long-term dynamics, wind energy is a net shock transmitter during the short term. Green bonds are a short-term net shock receiver. This role is valid in the long term. Clean energy and solar energy are the long-term net transmitters of shocks;nevertheless, the series is always and only momentarily a net receiver of shocks because of the short-term dynamics. Natural gas and crude oil play roles in both two quantiles. Dynamic net pairwise directional connectedness over a quantile suggests that uncertain events like the COVID-19 epidemic or Ukraine-Russia Conflict influence cryptocurrency volatility and renewable energy volatility. © 2022 Elsevier Ltd
ABSTRACT
Hotel service providers are among the most affected by the evolving Covid-19 pandemic. Although the consequences of the pandemic on hotel operations have been widely examined, the question of how hotel businesses can revive, innovate, and transform in order to survive and recover remains vastly under-researched. This study aims to provide insights on this important topic by analyzing 312 news articles between December 1, 2019, and March 1, 2021, published by global news media, which report hotels' strategies and tactics to deal with the pandemic. Grounded on chaos theory, behavioral learning theory, and an integrated crisis management model, a global pandemic crisis management framework is developed. Practically, the paper reveals best practices applied by hoteliers to deal with the pandemic (e.g., service transformation, smart marketing, strategic collaboration/alliance, mergers and acquisitions, and digitalization) and suggests ways for hotel services providers to adapt to the "new travel" age.
ABSTRACT
In recent years there is a rising need in Vietnam enterprises to build an effective management information system in order to deliver better information for management levels to make a proper decision. This paper mainly use qualitative analysis with statistics, synthesis and inductive methods, combine with dialectical materialism methods. Research results indicate that in industry 4.0 under Internet of Things (IoTs) effects, Vietnam enterprises such as hospitals and renewable energy companies or manufacturing firms can use advanced cloud technology to store and process big data of clients to serve for a better MIS system or risk MIS system. IoTs together with Big Data and cloud technology also prove better solutions to accounting and human resources of businesses. Last but not least, this study also propose some solutions to deal with challenges in constructing risk information system in Vietnam enterprises during covid 19 impacts. For instance, we need to invest more on technology infrastructure and take advantage of IoTs effects to build effective MIS for companies to make sound decisions. © 2021
ABSTRACT
The pandemic has caused several health issues and deaths and numerous severe devastations to the global economy. Due to the extreme impacts of the epidemics, it is crucial to investigate the pandemics and their pessimistically hidden influences to devise proper strategies. However, although this topic gains enormous recognition from scholars and researchers, there is still an inadequacy of a comprehensive literature review on the issues, and in-depth research on individual aspects of the world economy. Accordingly, the objective of this paper is to contribute a literature review that synthesises and evaluates prior research, to examine the current state of the pandemic impacts on the global economy, as well as become the requisite foundation for the practitioners to perceive how to respond to a pandemic in the future. A literature review is conducted, with 254 most relevant articles are analysed and classified based on the proposed framework. Thus, the findings of this study contribute diverse theoretical and practical insights concerning pandemics and the global economy. The results of this paper indicate the current status of the literature review and discover future research directions. Additionally, this paper proposes an integrated framework of the most influenced industries, followed by some emerging solutions to the most suffering sectors. Future research directions arc further suggested based on the identified research gaps and the analysis results.
ABSTRACT
The Covid-19 outbreak has turned out an opportunity for a recent noticeable increase in online shopping in Vietnam. Hence, this paper aims to discover how online shoppers react to their purchasing behaviour during Covid-19 time in terms of perceived benefits perspective. Based on the collected data from 427 Vietnamese online respondents during the social distancing period due to Covid-19, the research analyses the role of Covid-19 as a moderator variable in the relationship between benefits perception of the consumer and their online shopping activity. The result shows Covid-19 plays a moderating role in consumer’s awareness of utilities, which encourages shoppers towards Online shopping. However, the affection of society could be a reason that consumers become more hesitant to shop online. In the meanwhile, awareness of the Covid-19 pandemic and marketing policies do not impact on online shopping significantly during the Covid-19 pandemic which is a conflict with previous researches. These findings can contribute to understanding consumer behaviour comprehensively, help companies deal with similar situation as well as recommendations for the government to support businesses effectively in the future. © 2020 The Author(s). This open access article is distributed under a Creative Commons Attribution (CC-BY) 4.0 license.