Forthcoming and Online First Articles

International Journal of Monetary Economics and Finance

International Journal of Monetary Economics and Finance (IJMEF)

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International Journal of Monetary Economics and Finance (6 papers in press)

Regular Issues

  • Impact of Covid-19 on broader indices of Indian stock market   Order a copy of this article
    by Girija Nandini, Ratidev Sama, Alaka Samantaray, Rashmi Ranjan Panigrahi 
    Abstract: The purpose of this study is to identify the trend in price movement of the two indices of India and find any abnormalities present in the movement during the period of study. The data have been obtained from the NSE site over a period of one year and analysis is conducted on excel with the help of selected technical indicators like exponential moving average (EMA), moving average convergence divergence (MACD), and BB. A combination of technical indicators has been used. Covid-19 has a deep impact on the market but the recovery is also faster and behind any abnormal moment in the market. The research captures different impetus of financial markets which enhances better decision making for swing traders and investors. To the authors knowledge, the paper is unique in terms of enhancing quantitative and qualitative decision-making aspects and the simplest language being used for the interest of society at large.
    Keywords: stock market; price; indicators; technical analysis; trading; investment.
    DOI: 10.1504/IJMEF.2022.10046830
     
  • Analysis of the implications of role stress towards innovative behaviour and the success of womenpreneurs in Banten Province, Indonesia   Order a copy of this article
    by Sam’un Jaja Raharja, Rusdin Tahir, Sitti Ma’ani Nina 
    Abstract: Womenpreneurs play an important role in development, innovation and economic growth. This study aims to analyse the role of stress on innovation behaviour and its effect on the success of womenpreneurs. This study uses an explanatory survey method. Data collection is conducted by a questionnaire distributed to 312 womenpreneurs. Research results showed that womenpreneurs can play multiple roles, manage stress and draw creativity from stress triggers. The relationship amongst role stress, innovative behaviour and success positively and significantly affects success and innovative behaviour, and innovative behaviour positively and significantly affects the success of womenpreneurs.
    Keywords: role stress level; innovative behaviour; emotional intelligence; womenpreneur; success.
    DOI: 10.1504/IJMEF.2022.10047830
     
  • The effects of COVID-19 pandemic on the exchange rate: an empirical analysis for turkey as an emerging economy   Order a copy of this article
    by Fatih Ayhan 
    Abstract: The COVID-19 pandemic has deeply affected all economies, especially the macroeconomic indicators of developing countries. There have also been changes in all economic indicators in Turkish economy since COVID-19 cases appeared in March 2020. The USD/TRY exchange rate (EXC) also fluctuated in this period. In this study, the determinants of the USD/TRY exchange rate were empirically tested for 11/03/202006/11/2020 when the cases of COVID-19 increased. This research investigated the relationship between the daily number of COVID-19 cases (COVID), oil prices (OIL), and gold prices (GOLD) in Turkey. The findings of the residual augmented least squares (RALS) regression model showed that COVID, GOLD, and OIL have a statistically significant and negative effect on EXC. According to the regression model results, the increase in the COVID, GOLD, and OIL variables decrease the USD/TRY exchange rate, respectively. The most influential factor in determining the USD/TRY appears to be the rate of oil prices during the pandemic period. The most effective tool for policymakers to control exchange rate volatility seems to seek solutions for oil and energy prices.
    Keywords: exchange rate; oil prices; COVID-19; RALS; residual augmented least squares; Turkish economy.
    DOI: 10.1504/IJMEF.2022.10050901
     
  • Effect of organisational agility and competitive action on competitive advantage study on small businesses in Banten Province, Indonesia   Order a copy of this article
    by Sitti Ma’ani Nina, Sam’un Jaja Raharja, Rusdin Tahir, Margo Purnomo 
    Abstract: Women entrepreneurs play important role in economic growth, domestically and internationally. The purpose of this study is to test the influence of organisational agility and competitive action on competitive advantage in small businesses managed by women entrepreneurs in Banten Province, Indonesia. This research method used explanatory survey with a quantitative approach. The data were collected by surveying using instruments in the form of questionnaires. The data were analysed descriptivelyinferentially by using partial least squares structural equation modelling (SEM). Results showed that organisational agility and competitive action simultaneously and partially had a positive and significant effect on competitive advantage. The research contribution provides a new look at the field of strategic entrepreneurship because capability-building processes and entrepreneurial action processes at the typical organisational level build the creation theory of entrepreneurial action.
    Keywords: organisational agility; competitive action; women’s entrepreneurial action; competitive advantage; entrepreneurial action; Banten Province.
    DOI: 10.1504/IJMEF.2022.10053175
     
  • Impact of novel coronavirus outbreak-related announcements on pharmaceutical stocks: empirical evidence from an emerging market   Order a copy of this article
    by Vineeta Kumar, Varun Kumar Rai, Dharen Kumar Pandey 
    Abstract: This study uses the event study method to examine the impact of COVID-19 outbreak-related announcements on the returns and volatility of 74 exchange-listed Indian pharmaceutical stocks. We find significant negative effects of pandemic-related announcements on stock returns and volatility in an emerging market, particularly during the declaration of a global pandemic. Further, small-cap stocks are hit harder than large-cap and mid-cap stocks. We also use abnormal volatility to assess the outbreaks impact on market volatility. We also find waning effects in the post-event window analysis. Our findings are consistent with current literature.
    Keywords: event study; market model; abnormal return; abnormal volatility; emerging market; COVID-19; global pandemic.
    DOI: 10.1504/IJMEF.2023.10053697
     
  • The impact of low interest rates on the bank profitability   Order a copy of this article
    by Tomáš Fabian, Kristína Kočišová 
    Abstract: The recent negative interest rate policy implemented by the European Central Bank (ECB) has raised concerns about the impact of interest rates on bank profitability. Therefore, this paper aims to study the determinants of banking profitability in the European Union (EU) countries. Using annual macro-level data for the period 20082018, we examine the impact of banking sector, macroeconomic, and competition variables on the aggregate profitability of the banking sectors by using a panel data methodology. We find a positive relationship between short-term rates and negative relationship long-term rates. Hence, our findings indicate that monetary policy significantly influences bank profits in EU countries.
    Keywords: bank profitability; low interest rate policy; European Union countries; banking sector variables; macroeconomic variables; competition; short-term interest rate; long-term interest rate; panel data.