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JOURNAL OF ECONOMIC RESEARCH update

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수록정보
수록범위 : 1권1호(1996)~27권2호(2022) |수록논문 수 : 338
JOURNAL OF ECONOMIC RESEARCH
27권2호(2022년 08월) 수록논문
최근 권호 논문
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KCI등재

저자 : Sarit Biswas , Mousumi Bhattacharya , Sharad Nath Bhattacharya , Pradip H Sadarangani

발행기관 : 한양대학교 경제연구소 간행물 : JOURNAL OF ECONOMIC RESEARCH 27권 2호 발행 연도 : 2022 페이지 : pp. 85-118 (34 pages)

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The research looks into the impact of efficiency on discretionary loan loss provisioning in Indian banks and whether government ownership of commercial banks impacts efficiency. Using data envelopment analysis to quantify efficiency, we investigate the effect of efficiency on discretionary loan loss provision using a two-stage least squares regression model while accounting for uncertain government policies and their unpredictable economic consequences (economic policy uncertainty). Banks that are not majority owned by the government are more efficient than banks that are majority owned by the government. Through discretionary loan loss provision, bank efficiency positively impacts earnings management. Bank earnings management practices are limited by economic growth, rising credit-to-deposit ratios, and domestic economic policy uncertainties. However, capital adequacy ratio and global economic policy uncertainties are positively related to earnings management in banks. The study provides insights into the link between efficiency and earnings management in the face of local and global uncertainties.

KCI등재

저자 : Ravi Dilantha Rathnasekara , Neelangie Sulochana Nanayakkara

발행기관 : 한양대학교 경제연구소 간행물 : JOURNAL OF ECONOMIC RESEARCH 27권 2호 발행 연도 : 2022 페이지 : pp. 119-148 (30 pages)

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This paper examines the impact of the COVID-19 pandemic, and the resulting investor-sentiment in determining portfolio returns of healthcare, telecommunication, insurance, banking and hotel sector companies in the Colombo Stock Exchange, Sri Lanka. A first-stage event study methodology and a second-stage regression-based methodology are adopted to evaluate the impact of pandemic-related-news to identify the influence of investor-sentiment on sector portfolio returns and its persisting effects. The most striking phenomenon is positive and persisting Cumulative Average Abnormal Returns perceived after a long Island-wide lockdown curfew is lifted on 11-May-2020. Results of a second-stage regression-based analysis indicate an initial negative sentiment, followed by a positive sentiment thereafter. The initial negative effect is relatively robust on banks and hotel sector stocks. A positive sentiment emanates from over-reaction to the subsequent rebound. CSE-investors are more sensitive to local events than to global news, and are likely to react based on psychological biases, signifying irrational investor behaviour.

KCI등재

저자 : Sangyong Kim

발행기관 : 한양대학교 경제연구소 간행물 : JOURNAL OF ECONOMIC RESEARCH 27권 2호 발행 연도 : 2022 페이지 : pp. 149-172 (24 pages)

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I investigate the substitutability between social security and private savings via Korean Pension Reform. In 2016, two special occupation pensions changed: civil servant pension and private education school pension. Due to the accumulation of deficits in the two public pensions, the Korean government increased individual contributions and decreased benefits in both social securities. On the other hand, other public pensions remained unchanged. These changes provided a quasi-experimental environment to understand the relationship between social security and private saving. Through the DID method, reductions in public pensions increased private savings by 13-17 percent. And low income or old-aged households show the bigger substitutability between social security and private savings.

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