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1.
Business Strategy and the Environment ; 32(1):321-335, 2023.
Article in English | Scopus | ID: covidwho-2243749

ABSTRACT

Although the public sector is seen as the main party responsible for taking action on climate change and sustainable development, private commercial banks are in a unique position to support or shift the funding focus on green investment. By employing a qualitative research approach based on six commercial banks, this paper aims to investigate the current practices of how commercial banks are contributing to advance green business initiatives. Accordingly, this research examines and identifies the facilitators and challenges in domestic and foreign commercial banks in Vietnam which support green business initiatives. In addition to addressing the recent calls for the investigation of the role of commercial banks in facilitating green finance, our study expands the emerging literature by demonstrating the current efforts of Vietnam's commercial banks in fostering green finance during the Covid-19 pandemic. © 2022 ERP Environment and John Wiley & Sons Ltd.

2.
Regional Studies ; 57(1):84-96, 2023.
Article in English | Scopus | ID: covidwho-2242571

ABSTRACT

In response to the Covid-19 pandemic, the US federal government distributed US$800 billion in Paycheck Protection Program (PPP) loans to small businesses to preserve employment. Since PPP funding was transmitted through private banks, the characteristics of the regional banking market may have unevenly affected the programme's reach. This paper examines how variations in market concentration and the presence of community banks contributed to PPP disbursement in US counties. It finds that greater regional banking market concentration correlates with fewer PPP loans, but this negative relationship is mitigated by a greater presence of community banks in highly concentrated markets. © 2022 Regional Studies Association.

3.
Review of Quantitative Finance and Accounting ; 60(1):111-146, 2023.
Article in English | Scopus | ID: covidwho-2241794

ABSTRACT

This study proposes a renewal of the contemporary Islamic banking Murabaha financing model as it aggravates financial fragility with waning economic efficiency. We adapt the working capital framework of successful US companies like Amazon and Walmart and model an innovative Murabaha facility as trade credit within the real sector of the economy. We then test its robustness in a range of simulation tests. Our approach is novel and stands in contrast to the familiar financial sector fixed-income facilities, characteristic of Western economies, stealthily mimicked as mark-up (interest rate based) Murabaha by Islamic banks. We argue that this is neither appropriate nor effective for Islamic economies, making them fragile under monetary pressures in crises like the current coronavirus and energy ones. Our simulation results indicate that the trade credit Murabaha not only transforms debt into a risk-sharing one but also offers more competitive financing rates, reduces systemic risk, and improves financial stability. Furthermore, our results imply that the trade credit Murabaha can increase the efficiency of Islamic financial systems and make them more resilient to shocks. Consequently, this paper discusses the integration of our novel Murabaha within a recreated architecture of Universal Banking. As an implication, this should promote business activity and contribute to global growth. Finally, we recommend how to deploy our novel Murabaha based on trade credit (as opposed to the currently deployed fixed-income-mimicked Murabaha) to alleviate twin agency debt costs (risk shifting, underinvestment) and solve the ownership transfer problem of modern Islamic banking. © 2022, The Author(s).

4.
Borsa Istanbul Review ; 2023.
Article in English | Scopus | ID: covidwho-2240969

ABSTRACT

This paper compares the performance of Islamic and conventional banks before and during Covid-19. It uses daily data for the years 2016–2022 of 12 Islamic and 21 conventional banks in six OIC countries: Pakistan, Bangladesh, Indonesia, Malaysia, United Arab Emirates, and Turkey. The paper employs the asymmetric GJR-GARCH and E-GARCH models to estimate volatility and Chow break point test to identify structural breaks. The maximum drawdown, compound annual return, and Calmar ratios methods quantify the reaction, resilience, and recovery of both types of banks. It is observed that prior to Covid-19, Islamic banks did well because they had lower drawdowns and better Calmar ratios compared to conventional banks. During Covid-19, conventional banks did better than their counterparts, took less time to recover and had better Calmar ratios. © 2022 Borsa Ä°stanbul Anonim Åžirketi

5.
Oxford Economic Papers-New Series ; 2023.
Article in English | Web of Science | ID: covidwho-2240959

ABSTRACT

This article evaluates the interactions between housing, the credit market, and the ECB's asset purchase program (APP) from 2015 until 2020 and then in the course of the ECB's pandemic emergency purchase program (PEPP) in 2020. The model is calibrated for the euro area. The findings illustrate the way in which macrohousing channels affect bank portfolio rebalancing which is the main channel for asset purchases to influence the economy. The results show that asset purchasing performs better during a crisis, particularly if it is conducted for an appropriate extent of time. The findings suggest that the PEPP alone is not sufficient to accelerate recovery. As a result, further actions such as timely targeted fiscal policies are required to step up recovery. However, to protect the financial sector, the PEPP should be extended until the Covid-19 crisis phase is over.

6.
Managerial Finance ; 49(1):45261.0, 2023.
Article in English | Scopus | ID: covidwho-2240636

ABSTRACT

Purpose: The paper aims to highlight differences in bank performance based on state politics during the onset of the Covid pandemic. The response to Covid pandemic created an unusual opportunity for an investigation of how politics impacts banking due to the initial response to the pandemic being heavily impacted by political affiliation states' governors and dominant parties in state legislatures. Previous research looked at impact of elections on the federal level (both executive and legislative branches) on bank risk and performance. The response to the Covid pandemic in 2020 allows for an investigation on how political influence on the state level impacted banks performance. Design/methodology/approach: The Covid pandemic was an unexpected storm that entered the United States with a vengeance in 2020, taking countless lives and ravaging the economic landscape. The response to the pandemic quickly took a political spin as republican governors showed greater reluctance to shutter business activity in hopes of slowing down the spread of the virus than their democratic counterparts. This paper examines the impact of the two Americas created along the lines of political influence as it impacted bank performance over four-quarters beginning with the fourth quarter of 2019. All US banks are split into groups based on the political affiliation of state governors and the dominant party in state legislatures to measure impact of politics on bank performance and risk. Findings: This research finds that banks operating in states with republican governors produced greater profits and exhibited higher liquidity levels. The same results held for banks in states where both the governorship and the legislature were controlled by republicans versus banks in states where both the governor and the legislature were democratic. Interestingly, the findings present a reversal when examining banks in states led by republican governors and democratic legislatures versus banks in states with democratic governors and republican legislatures. In those instances of mixed leadership, banks in states with democratic governors tend to show greater profits, greater liquidity while demonstrating lower asset quality. Originality/value: A paper published in Managerial Finance in 2018 discussed the impact of the parties in control of the White house and the legislative branch on bank performance and risk. There have been no studies, to the author's knowledge, that look at how states' political leadership (gubernatorial and legislative) impact on bank performance. Because the response to the Covid pandemic became a politically polarized issue, the onset of the crisis allowed for measurement of how different responses by republican and democratic state leadership impacted bank performance and risk. © 2022, Emerald Publishing Limited.

7.
Lecture Notes in Networks and Systems ; 550 LNNS:29-42, 2023.
Article in English | Scopus | ID: covidwho-2240521

ABSTRACT

The prevalence of the COVID-19 pandemic and the impact of lockdown initiatives to curb the spread of the disease have had a significant effect on daily human activities and the global economy in general, and the operations of the banking sector in particular. Few studies have been carried out on the factors that affect the acceptance of mobile banking especially during and after the COVID-19 pandemic. Thus, the aim of this current research is to identify the drivers of mobile banking usage intention among banking customers in Palestine during the current pandemic. For this purpose, a total of 290 people were surveyed using an electronic questionnaire. The study's conceptual model was analyzed using structural equation modeling. The findings showed that Attitude significantly affects intention, the intention was revealed to significantly affect adoption, PBC significantly affects intention, PEOU does not affect attitude, PR was also found to have no significant effect on intention, PU significantly affects attitude as well as intention, PEOU significantly affects PU, SN significantly affects intention, and finally, trust was revealed to significantly affect intention. © 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.

8.
International Review of Financial Analysis ; : 102602.0, 2023.
Article in English | ScienceDirect | ID: covidwho-2240510

ABSTRACT

There is no doubt that oil price shocks significantly affect oil-producing countries' macroeconomic fundamentals and financial stability, mainly in crisis times. The recent oil price shocks, coupled with the COVID-19 pandemic, motivated us to investigate the connectedness and risk transmission among oil shocks and banking sectors in the Gulf Cooperation Council (GCC) economies from June 30, 2006, to September 9, 2021. Thus, we construct multilayer information spillover networks between oil price shocks and GCC banking sectors. The empirical results show that the Bahrain banking sector depicts the highest connectedness and risk transmission with oil price shocks on the extreme risk spillover layer. In addition, Kuwait and the United Arab Emirates are highly connected to oil demand shocks. Furthermore, we find a substantial increase in extreme risk spillover and volatility spillover layers during the COVID-19 period. The results of this paper have some important implications for regional portfolio risk management, alleviating systemic risk, and developing hedging and investment strategies.

9.
Economic Development Quarterly ; 2023.
Article in English | Scopus | ID: covidwho-2240206

ABSTRACT

The Paycheck Protection Program was a highly unusual policy measure enacted to provide bridge capital to support small businesses coping with the dramatic downturn in demand due to the COVID-19 pandemic. By design, the program effectively required potential applicants to work through the bank with whom they had a relationship. Yet large swathes of the country are effectively banking deserts, which dramatically steepen the gradient for those regions' businesses seeking Paycheck Protection Program support. This paper tests the proposition that the exogenous distribution of banks effectively discriminated against those regions where banking services were limited, while also looking at whether loans were distributed to those areas with less dense employment opportunities and higher concentrations of small businesses. The authors find that areas with fewer banking services and lower employment opportunities were systematically disadvantaged in the Paycheck Protection Program distribution, while there were no significant flows to areas with higher rates of small businesses. © The Author(s) 2023.

10.
Marketing Intelligence and Planning ; 41(1):124-137, 2023.
Article in English | Scopus | ID: covidwho-2239580

ABSTRACT

Purpose: The study explores the affordances and constraints perceived by older adults through their experiences using mobile banking apps. Design/methodology/approach: Twenty-five interviews via Skype were carried out with older adults aged 65 years and over between April and May 2021 (during the COVID-19 pandemic). Findings: Based on their usage experiences with mobile banking, older adults identified functional (saving time, avoiding physical risk and having control over their finances) and social affordances (supporting and bonding with family and friends), as well as non-technological (lack of useful information and patience from bank employees) and technological constraints (concerns about cybersecurity, data privacy and passwords). Originality/value: The study offers a novel approach to customer experience research in mobile banking by adopting a customer-centered perspective and applying the theoretical framework of affordances and constraints to analyze the experiences of older adults as active mobile banking users. © 2022, Emerald Publishing Limited.

11.
Business Strategy and the Environment ; 32(1):858-877, 2023.
Article in English | Scopus | ID: covidwho-2246255

ABSTRACT

A value chain framework for guiding the financial firms in their credit decisions is urgent, as the current COVID-19 pandemic has highlighted, but missing in the extant literature, particularly for those that lend to industries sensitive to value and supply chain bottlenecks. This study creates knowledge in value chain finance, a big untapped and un-researched market. It constructs, confirms, and validates a value chain framework for assessing risks in lending to Agro and Food Processing firms in which value chain risks are major business concerns globally. To pursue the objectives of the study, we use a novel methodology that integrates the Modified Delphi technique, exploratory factor analysis, confirmatory factor analysis, and discriminant analysis. Based on testing and analysis of primary data, including loan data, a framework comprising six factors is proposed for use in conjunction with existing risk assessment models of finance companies to improve the quality of their credit decisions, contributing to their performance sustainability. © 2022 ERP Environment and John Wiley & Sons Ltd.

12.
Qualitative Research in Financial Markets ; 2023.
Article in English | Scopus | ID: covidwho-2245792

ABSTRACT

Purpose: This study aims to examine the effect of the COVID-19 pandemic on the banking sector and to assess if COVID-19 was a trigger for the banking crisis. Design/methodology/approach: To achieve the main objective, the beta of the banking sector was calculated and analysed. In addition, a fixed panel regression model was applied over the period from the 30th of December 2019 until the 24th of September 2021. Findings: The results suggest that the pandemic contributed to higher volatility and risk in banking sector but did not confirm a systematic banking crisis. Originality/value: This paper contributes to the literature by analysing the COVID-19 pandemic as a potential trigger for a banking crisis. This paper also contributed by studying the effects of COVID-19 on the banking sector, especially the risk in the banking sector. © 2023, Emerald Publishing Limited.

13.
Journal of Global Scholars of Marketing Science ; 2022.
Article in English | Web of Science | ID: covidwho-2245132

ABSTRACT

The COVID-19 pandemic changed everything, especially marketing, leading to increased digital usage. Social media allows faster connectivity among people and gives marketers new pathways to engage with consumers. The lockdown dramatically reduced economic activity by numbers that are worth understanding. This study examines the numerous aspects contributing to the consumer's favorable opinions toward their social commerce intents and behavior during the COVID-19 pandemic. Using SEM, the data examination of 297 respondents established that applying the social support theory and the unified theory of acceptance and use of technology (UTAUT) model to the proposed theoretical framework is significantly associated with social commerce intentions. The results state that all the direct hypotheses have been supported, confirming that social support, performance expectancy, effort expectancy, offline subjective norms, and online subjective norms are significantly associated with social commerce intentions. The results also indicated that Information Technology Infrastructure (ITI) moderated social support, performance expectancy, effort expectancy, and online subjective norms.

14.
Journal of Multinational Financial Management ; 67, 2023.
Article in English | Scopus | ID: covidwho-2245076

ABSTRACT

This study examines the effects of the COVID-19 outbreak on the performance and stability of the banking sector. Our sample consists of 2073 banks in 106 countries from 2016Q1 to 2021Q2. We employ several alternative bank performance and stability measures for a comprehensive analysis and robustness. The findings show that the COVID-19 outbreak has significantly reduced bank performance and stability. These results are consistently observed across several geographical regions and countries' income classifications. Additional analysis shows that the adverse impact of COVID-19 depends on the characteristics of the bank and market structure. While a better regulatory environment, institutional quality, and financial development have significantly increased the strength and resilience of banks. These findings provide practical implications for regulators and policymakers in the face of unprecedented uncertainty caused by the COVID-19 pandemic. © 2023 Elsevier B.V.

15.
Finance Research Letters ; 51, 2023.
Article in English | Scopus | ID: covidwho-2245024

ABSTRACT

Our investigation of 46 conventional and 22 Islamic banks from the Gulf Cooperation Council (GCC) countries during 2008–2021 reveals that sectoral diversification effects on stability are nonlinear and different for the two bank types. While Islamic banks' stability is worsened only by moderate levels of diversification, conventional banks' stability is enhanced by high levels and impaired by low levels of diversification. Furthermore, diversification acted as a stabilizer during the global financial crisis but exacerbated the adverse effects of the Covid-19 pandemic. Although regulators usually call for bank diversification, our results imply that it can be a double-edged sword. © 2022

16.
Research in International Business and Finance ; 64, 2023.
Article in English | Web of Science | ID: covidwho-2237531

ABSTRACT

This research uses a hybrid systemic risk indicator (rSYR) to measure the systemic financial risk of China's banking industry from 2009 to 2019 and combines rSYR with sSYR (new standardized rSYR) to more accurately determine systemic important banks. We also forecast systemic risk in the next period, finding that large-scale banks (such as ICBC, Bank of China, Agricultural Bank of China, and China Merchants Bank) have high systemic importance. After eliminating the impact of scale, we then pay attention to the possibility of systemic risk brought by some smaller banks (such as Huaxia Bank and Everbright Bank). Through the prediction of systemic risk in the next six months, we also find out that the possibility of systemic risk caused by possible capital shortage brought by Agricultural Bank of China, Ping An Bank, Bank of China and Everbright Bank is more obvious, which is worth paying greater attention.

17.
Sustainability (Switzerland) ; 15(2), 2023.
Article in English | Scopus | ID: covidwho-2235658

ABSTRACT

Suggested only a few years ago, green central banking has received a new impetus with the central bank interventions implemented in the wake of the COVID-19 pandemic. Several central banks, with the European Central Bank (ECB) and the Bank of England (BoE) being prominent examples, have stepped up their public communication on this issue in an effort to explain and justify their planned or ongoing policy actions. Carefully recorded and easy to find, these public communication messages are a rich source of insight into the process of monetary policy formation. In this article, we analyze the messages from two central banks, with the primary objective of identifying the narratives they use (if any) and describing the key features of these narratives, thus shedding new light on an ongoing process of policy change. A secondary objective of the article is to contribute to the growing literature related to the use of narratives in public policy by studying narratives in monetary policy through qualitative means, an approach that, to date, has received relatively little attention from scholars. To this end, we discuss two expectations related to the use of policy narratives derived from the literature. Thus, we hope to show how the two central banks devise and deploy narratives to help implement an unprecedented turnaround in monetary policy. © 2023 by the authors.

18.
TQM Journal ; 35(2):492-518, 2023.
Article in English | ProQuest Central | ID: covidwho-2235034

ABSTRACT

Purpose>This study aims to empirically develop a reliable and valid instrument measuring the online service quality in the context of the banking sector in India.Design/methodology/approach>The methodological framework of this research comprises developing an instrument that is based on previous literature, qualitative and quantitative procedure. The study used the survey method and collected data via a well-structured questionnaire from a sample of active Internet banking users. The proposed instrument is identified by the data-reduction technique that is exploratory factor analysis (EFA), and validated through the confirmatory factor analysis (CFA).Findings>The results confirmed that the digital banking service quality scale (DBSQual) contains 24 items in seven dimensions: (1) web architecture, (2) user friendliness, (3) efficiency of website, (4) reliability, (5) responsiveness, (6) security and (7) personalization. The relationship between digital banking service quality and e-customer satisfaction has also been found to be significant in this study.Research limitations/implications>The results of this study do not find general application for different banks operating in the same sector in India. More testing of DBSQual is required across various different contexts for validity augmentation. In addition, findings would be more reliable if the non-Indian context could be taken into consideration. Thus, such limitations open a window for future research.Practical implications>This study is quite fruitful for the banking organizations in measuring their online services, and enables them to implement their marketing and operational strategies more effectively and efficiently.Originality/value>The contribution of this study is the development and validation of a new instrument that is DBSQual that contains seven determinants of customers' e-service quality perception, emphasis on measuring online service quality in the Indian banking sector. These determinants will offer banks a promising starting idea for establishing an effective quality management for their online businesses. They will be able to increase the opportunities by tapping themselves at a competitive edge.

19.
Journal of International Financial Markets, Institutions and Money ; 83, 2023.
Article in English | Scopus | ID: covidwho-2234642

ABSTRACT

Using a global sample of 244 banks in 52 stock markets, we investigate the effect of corporate social responsibility (CSR) on bank tail risk in normal and turbulent times. Our analysis shows no significant evidence that CSR intensity protects banks from tail risks ex ante or during the global financial crisis of 2007–2009. However, investors appear to become more tolerant and more lenient towards banks with stronger CSR post ante economic recession by reducing the likelihood of extreme devaluation of banking stocks. Socially responsible banks with higher social capital and trust (associated with superior CSR performance) experience lower idiosyncratic and systematic tail risks even in the context of the COVID-19 pandemic in 2020. Our empirical evidence implies that the trust between banks and investors started to build through banks' investments in social capital through committed CSR performance since the credit crunch erupted. © 2023 The Author(s)

20.
International Journal of E-Business Research ; 18(1):2020/01/01 00:00:00.000, 2022.
Article in English | ProQuest Central | ID: covidwho-2234588

ABSTRACT

Due to the exponential growth of the internet, smartphones, and communication technologies during the last two decades, the digital banking sector has enormously advanced in terms of user-friendly, efficient, and fast financial transactions. Digital banking also plays a significant role as an enabler of cashless transactions in the economic crisis caused by the COVID-19 pandemic. The study investigates the challenges, technology, and future research agenda of digital banking. The paper follows the manifestation of Kitchenham's SLR protocol. Six databases were used to determine articles that match the criteria. The study considers recent articles, which have been published from 2015 to 2021. Sixty-seven papers have been selected, extracted, and analyzed. The result highlights issues related to technology, organization, people, process, environment, customers, security, and risk, which become challenges in digital banking innovation. This research presents suggestions for future research directions, which will be beneficial to practitioners and scholars around the globe.

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