Studies in Economics and Finance: Volume 40 Issue 4

Guest editorial: Maintaining stability amidst global uncertainties (Part I)

Paresh Kumar Narayan

Female directors, the institutional environment and dividend policy: evidence from ASEAN-5 commercial banks

Athiyyah Riri Syahfitri, Tastaftiyan Risfandy

This paper aims to investigate the impact of female directors on the dividend policies of 96 ASEAN-5 listed commercial banks between 2015 and 2020.

Enhancing bank stability from diversification and digitalization perspective in ASEAN

Diyan Lestari, Shiguang Ma, Aelee Jun

The financial sector's resilience is associated with greater prosperity and a better average income. Banks have evolved their business model and diversified their sources of…

Spillover effects of foreign direct investment on manufacturing exports and imports in Indonesia

Mohammad Zeqi Yasin, Miguel Angel Esquivias

This study aims to identify extensive and intensive margins in exports and imports and examine whether incoming foreign direct investments (FDI) benefit local firms in Indonesia…

A club convergence analysis of financial integration: cross-country evidence

Vaseem Akram, Sarbjit Singh, Pradipta Kumar Sahoo

The purpose of this study is to examine the club convergence of Financial integration (FI) in the case of 60 countries from 1970 to 2015. FI plays a vital role in economic growth…

Monetary-fiscal coordination: when, why and how?

Saurabh Sharma, Ipsita Padhi, Sarat Dhal

This paper aims to revisit the theme of fiscal-monetary coordination in a general equilibrium setup that allows for unconventional monetary policy, monetary policy transmission…

COVID-19 and the ASEAN stock market: a wavelet analysis of conventional and Islamic equity indices

Mohsin Ali, Mudeer Ahmed Khattak, Shabeer Khan, Noureen Khan

The purpose of this study is to examine the impact of the COVID-19 pandemic on Association of Southeast Asian Nations (ASEAN) Islamic and conventional equities.

Exchange rate volatility and trade flows in Indonesia and ten main trade partners: asymmetric effects

Unggul Heriqbaldi, Miguel Angel Esquivias, Rossanto Dwi Handoyo, Alfira Cahyaning Rifami, Hilda Rohmawati

This paper aims to examine whether Indonesian cross-border trade responds asymmetrically to exchange rate volatility (ERV).

FDI, digitalization and employment: empirical evidence from developing economies

Madhabendra Sinha, Darius Tirtosuharto, Anjan Ray Chaudhury, Partha Basu

The paper aims to empirically examine the impact of foreign direct investment (FDI) inflows and digitalization on employment opportunities in selected 70 developing economies…

Convergence analysis of science, technology, and environment expenditure: evidence from Indian states

Vaseem Akram

There is vast disparity in public expenditure on science, technology and environment (STE) across various Indian states. Public expenditure on STE is crucial in maintaining…