Template-Type: ReDIF-Article 1.0 Author-Name: Habib Ur Rahman Author-X-Name-First: Habib Ur Author-X-Name-Last: Rahman Author-Name: Mahwish Rafique Author-X-Name-First: Mahwish Author-X-Name-Last: Rafique Author-Name: Zahid Ali Akbar Author-X-Name-First: Zahid Ali Author-X-Name-Last: Akbar Author-Name: Emmanuel S. Aidoo Author-X-Name-First: Emmanuel S. Author-X-Name-Last: Aidoo Title: Impact of corporate governance practices on financial performance: evidence from non-financial sector of Pakistan Abstract: This study aims to investigate the impact of corporate governance practices on the financial performance of Pakistani listed firms. For this purpose, we use the panel data of 65 non-financial listed firms from 2010 to 2017. Our framework of analysis is based on the agency and stewardship theories. We measure corporate governance practices through various gauges, including board size, board independence, CEO duality, institutional ownership, managerial ownership, ownership concentration, and foreign ownership. Applying the fixed-effect and random-effect models in a panel setting, this empirical investigation reveals that board size, institutional ownership, managerial ownership, and ownership concentration accelerate the financial performance of the non-financial sector of Pakistan. However, we could not find such evidence on CEO duality, board independence and foreign ownership. Consistent with the convergence theory, our empirical findings reveal that higher managerial ownership reduces agency cost issue and ultimately enhances the performance, profitability, and shareholder's wealth. Journal: Int. J. of Electronic Finance Pages: 1-22 Issue: 1/2 Volume: 10 Year: 2020 Keywords: corporate governance; board size; ownership concentration; return on assets; ROA; financial performance; managerial ownership; institutional ownership; Tobin's Q; Pakistan. File-URL: http://www.inderscience.com/link.php?id=110289 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijelfi:v:10:y:2020:i:1/2:p:1-22 Template-Type: ReDIF-Article 1.0 Author-Name: Yu Zhang Author-X-Name-First: Yu Author-X-Name-Last: Zhang Author-Name: Charles E. Teague Author-X-Name-First: Charles E. Author-X-Name-Last: Teague Author-Name: Randall Hucks Author-X-Name-First: Randall Author-X-Name-Last: Hucks Author-Name: KaylaRose Robison Author-X-Name-First: KaylaRose Author-X-Name-Last: Robison Title: Have pure-play internet banks caught up with traditional and hybrid banks over the past decade? Abstract: This paper investigates the performance of pure-play internet (PPI) banks compared to their traditional and hybrid counterparts over the past 18 years. All 11 surviving PPI banks were hand screened and matched with 110 control banks randomly selected based on total assets from the FDIC website. Our pooled OLS regressions with robust errors show that PPI banks have lower profitability and are less cost efficient than their counterparts. This may be because PPI banks still need time to accumulate experience and scale effects. PPI banks also do not attract more deposits or invest more in securities than traditional and hybrid banks. However, they do have less risk in terms of bad loans than traditional and hybrid comparables. Journal: Int. J. of Electronic Finance Pages: 23-42 Issue: 1/2 Volume: 10 Year: 2020 Keywords: pure-play internet banks; financial performance. File-URL: http://www.inderscience.com/link.php?id=110290 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijelfi:v:10:y:2020:i:1/2:p:23-42 Template-Type: ReDIF-Article 1.0 Author-Name: Jason Lim Chiu Author-X-Name-First: Jason Lim Author-X-Name-Last: Chiu Author-Name: Candy Lim Chiu Author-X-Name-First: Candy Lim Author-X-Name-Last: Chiu Author-Name: Han-Chiang Ho Author-X-Name-First: Han-Chiang Author-X-Name-Last: Ho Author-Name: Somkiat Mansumitrchai Author-X-Name-First: Somkiat Author-X-Name-Last: Mansumitrchai Title: Strategies and developments of Philippine telecommunications industry: revisiting the struggle, liberalisation and innovations Abstract: The telecommunications industry plays a vital role in determining the competitiveness of a country in a global economy. Access to advanced communication technologies at reasonable prices is essential to the country's growth and economic development. However, in the Philippines, the government permitted the Philippine Long Distance Telephone Company (PLDT), a privately-owned company to dominate the market for sixty-five years. PLDT influences the political and regulatory process of the country which gives them the power to bring about changes in regulations that further enhance the profits it earns. This paper critically examines the historical perspective, the country's industrial policies, the establishment of regulatory authorities, and their consequences in the development of the country's infrastructure. If the goal of the government is to promote competition in the telecom market, they must create competition in the telecommunications industry in order to encourage efficiency and optimal allocation of resources. Journal: Int. J. of Electronic Finance Pages: 43-66 Issue: 1/2 Volume: 10 Year: 2020 Keywords: telecommunications industry; Philippines; private monopoly; competition policies; liberalisation; deregulations. File-URL: http://www.inderscience.com/link.php?id=110291 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijelfi:v:10:y:2020:i:1/2:p:43-66 Template-Type: ReDIF-Article 1.0 Author-Name: Naresh Gopal Author-X-Name-First: Naresh Author-X-Name-Last: Gopal Author-Name: K.S. Senthilkumar Author-X-Name-First: K.S. Author-X-Name-Last: Senthilkumar Title: Predicting bitcoin prices - ANN approach Abstract: Bitcoin, the first cryptocurrency is believed to be designed by Satoshi Nakamoto in 2009 as a peer-to-peer structure whereby users can handle directly without requiring an intermediary. Cryptocurrencies have enjoyed some success and 'bitcoin' is now the largest cryptocurrency, with the total number of bitcoins currently valued at approximately 70 billion US dollars. However, globally there are economies which favour the bitcoin and some have banned the same. While many day traders have cash out their funds, veteran traders remain unfazed. In this scenario, it is essential to look into their price behaviour which reveals that there is huge a fluctuation, i.e., highly volatile in nature. Henceforth, their relationships with the trading volume, money supply, lag prices which influences the trade in bitcoin are measured using the ANN model revealing highly significant relationship. Journal: Int. J. of Electronic Finance Pages: 67-78 Issue: 1/2 Volume: 10 Year: 2020 Keywords: bitcoin prices; ANN model; money supply; volatility; trading volume. File-URL: http://www.inderscience.com/link.php?id=110296 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijelfi:v:10:y:2020:i:1/2:p:67-78 Template-Type: ReDIF-Article 1.0 Author-Name: Habib Ur Rahman Author-X-Name-First: Habib Ur Author-X-Name-Last: Rahman Author-Name: Ghulam Ali Bhatti Author-X-Name-First: Ghulam Ali Author-X-Name-Last: Bhatti Author-Name: Safdar Ullah Khan Author-X-Name-First: Safdar Ullah Author-X-Name-Last: Khan Author-Name: Emmanuel S. Aidoo Author-X-Name-First: Emmanuel S. Author-X-Name-Last: Aidoo Title: Are Asian stock and house prices integrated or segmented? Abstract: This study aims to examine the interdependence of stock and house prices. For this purpose, we use quarterly data from 2008-Q1 to 2013-Q4. Seven economies are selected for this empirical investigation: Indonesia, Malaysia, Philippines, Singapore, Thailand [ASEAN-5], Korea and Hong Kong. We apply Pedroni panel cointegration and dynamic ordinary least square (DOLS) to analyse the association between Asian house and stock prices. Applying time series and panel estimation simultaneously, our results suggest a positive and significant effect of stock prices on house prices except for Korea, where we found a negative relationship. More directly, stock markets are integrated with real estate markets in all selected economies except Korea. Further, the positive effects of house prices on stock prices are in support of the wealth effect hypothesis, which indicates that house prices have a positive contribution to the uplift of stock prices. Examining the timing of market changes, we found the real estate market leads the stock market in the panel analysis. Electronic finance, multiple listing databases and internet play a significant role in this interaction. Journal: Int. J. of Electronic Finance Pages: 79-92 Issue: 1/2 Volume: 10 Year: 2020 Keywords: house price; stock price; DOLS; ASIAN countries; wealth effect; credit effect; alternative investments; ASEAN-5; cointegration; Granger causality. File-URL: http://www.inderscience.com/link.php?id=110297 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijelfi:v:10:y:2020:i:1/2:p:79-92 Template-Type: ReDIF-Article 1.0 Author-Name: Jesus Carmona Author-X-Name-First: Jesus Author-X-Name-Last: Carmona Author-Name: Natalya Delcoure Author-X-Name-First: Natalya Author-X-Name-Last: Delcoure Author-Name: Francisco Haces Fernandez Author-X-Name-First: Francisco Haces Author-X-Name-Last: Fernandez Title: Social media sentiment, tariffs, and international equity pricing Abstract: Previous research has evaluated the impact of social media on financial market performance. This research investigates the imposition of Trump's trade tariffs and sentiments of President Trump's trade tariff-related tweets on international equity using exchange-traded funds (ETFs). We document that tweets move international equity prices, affect their volatility, and draw market attention. In addition, the impact of Twitter - a social media outlet allowing users to curate information, update followers, and report news in real time to a wide audience - is a function of event randomness, tweets' novelty, and whether an 'influencer' uses this channel of communication to post relevant tweets. Journal: Int. J. of Electronic Finance Pages: 93-115 Issue: 1/2 Volume: 10 Year: 2020 Keywords: social media; tariffs; international equity pricing; exchange-traded funds; ETFs; sentiment analysis; event study methodology. File-URL: http://www.inderscience.com/link.php?id=110298 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijelfi:v:10:y:2020:i:1/2:p:93-115 Template-Type: ReDIF-Article 1.0 Author-Name: Duong Dang Author-X-Name-First: Duong Author-X-Name-Last: Dang Author-Name: John Vong Author-X-Name-First: John Author-X-Name-Last: Vong Title: Revisiting bank profitability, performance and stability in Asia Pacific (2012-2018) using the EAGLES framework Abstract: Determinants of bank performance, profitability and distress have been extensively assessed by modelling the microeconomic and macroeconomic factors. These factors while important are inadequate, otherwise the financial crises would not have been so devastating that led to bank closures and bankruptcies across the globe. For example the CAMEL bank rating model that forms the basis of central bank regulators has proven insufficient. This research applies the EAGLES framework that was built on the CAMELS bank rating model. The study focussed on 48 banks across Asia Pacific between 2012 to 2018. In particular the study shall highlight the strategic response quotient (SRQ) of the EAGLES framework. The SRQ is derived from the computation of the interaction of four financial data components, namely, interest income, fee-based income, interest cost and operational expenses. The paper found that the identified data components predicted and presented bank stability and profitability with a unique perspective. Journal: Int. J. of Electronic Finance Pages: 116-130 Issue: 1/2 Volume: 10 Year: 2020 Keywords: strategic response quotient; SRQ; bank strategy; return on assets; ROAs; return on equity; CAMEL; non-performing loans; bank staff cost; financial institutions in distress. File-URL: http://www.inderscience.com/link.php?id=110301 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijelfi:v:10:y:2020:i:1/2:p:116-130