GLOBAL RECESSION & GLOBAL FINANCIAL INSTITUTIONS: EVIDENCE FROM TOP 100 GLOBAL BRANDS (2001 – 2015)

This paper aims to present the brand equity trends among top banks and financial brands during 2001-15. The research uses the data published by world’s leading brand consultancy Interbrand. During 2001-2015, a total of 19 financial brands from seven countries appeared in the top 100 global brands list. Analyses were made on the basis of cumulative brand equity, average brand equity and growth patterns. Some major trends presented in this paper are; (a) global economic recession (2008-2009) affected the financial brands more than other sectors; (b) different clusters of financial institutions moved differently during recession and afterwards (c) dominance of American financial brands remained the key observation. JEL: D02, E02, G21, F01  Article visualizations

Intervention orale et de facto régime de taux de change au Pakistan

Notre thèse vise deux domaines inter reliés des marchés taux de change en se référant particulièrement à un marché émergent qui est le Pakistan. Ces domaines sont le rôle et l'efficacité de l'intervention orale sur le marché des changes étrangers et le régime "de facto" adopté par le pays. Nous avons collecté une base de données complète des rapports, des communiqués de presse fournis par des autorités pakistanaises et d'autres informations, qui pourraient affecter le taux de change de la roupie pakistanaise contre le dollar US. Pour étudier l'efficacité de la stratégie d'intervention orale de l'autorité monétaire pakistanaise, nous avons appliqué l'approche d'étude d'évènement couramment utilisée dans la littérature. Nous avons analysé les effets des évènements de l'intervention orale en utilisant un test de signe non-paramétrique basé sur différents critères d'évaluation. Cette efficacité a été observée sur le niveau et la volatilité du taux de change sur le marché de changes officiel. Toutefois, cette thèse présente un aspect intéressant qui concerne le fait que nous avons également examiné les effets des évènements d'une intervention orale sur le prix de change au marché parallèle. L'approche mentionnée ci-dessus a été employée pour examiner les effets de l'intervention orale sur la prime, le taux et la volatilité du marché parallèle. La thèse étudie également le régime de facto du taux de change du Pakistan. Pour étudier le régime de facto du taux de change de ce pays, nous avons utilisé un panier de devises et nous nous sommes placé dans un contexte de "exchange market pressure". Nous avons également examiné l'impact de deux ensembles différents de devises (régional et du Moyen-Orient) sur la roupie pakistanaise. Enfin, le modèle structural de Bai et de Perron a été appliqué pour obtenir la coupure de la série de données de l'échantillon. Les résultats obtenus indiquent que l'intervention orale demeure efficace pour le niveau et la volatilité du taux de change sur le marché de changes officiel. Un résultat intéressant ressort de cette étude qui stipule que les efforts d'une intervention orale sont également réussis; ils permettent d'influencer la prime et la volatilité du marché parallèle dans le sens désiré. La comparaison entre les régimes de change suivis par le pays, de jure ( flottant contrôlé) ou de facto (fixé par rapport au dollar), révèle des disparités pour une grande partie de la période d'étude.The thesis targets two inter related areas of the foreign exchange market with special references to an emerging economy, Pakistan. These areas are the role and effectiveness of oral intervention in the foreign exchange market and de facto exchange rate regime followed by the country. We collected a comprehensive database of statements, press releases by paskistani authorities and other news, which could affect the exchange rate of the pakistani rupee against the US dollar. We applied the event stydy approach , widely used in the available literature, to investigate the effectiveness of the oral intervention strategy of pakistani monetary authority. We analyzed the effects of the oral intervention events using a non-parametric sign test based on different evaluation criteria. This effectiveness was observed on the exchange rate level and volatility in the official currency market. Whereas, an interesting aspect of the thesis is that we also examined the affects of these oral inetrvention events on the exchange rate of the parallele currency market. The aforementioned approach was used to examined the affects of the oral intervention on the parallel market premium, rate and volatility. The thesis also investigated the de facto exchange rate regime of Pakistan. We used the "currency basket" and "exchange market pressure" framework to investigate the de facto exchange rate regime of the country. The impact of two different sets of currencies (i.e. regional and Middle Eastern) was also observed on the pakistani rupee. Finally, the Bai and Perron structural break model was applied to obtain the break points in the sample data. The results obtained indicate that the oral intervention remained effective for both the exchange rate level and volatility in the official currency market. Interestingly, these oral intervention efforts wrere also successful in influencing the parallel market premium and volatility in the desired direction. Regarding the exchange rate regime followed by the country, a gap was observed in the de jure (managed float) and de facto (dollar peg) exchange rate regime of the country for most part of the sample period covered

What Business Researchers are Producing during Covid-19 A bibliometric approach

The way COVID-19 impacted every aspect of human life around the world, is now considered more disastrous than the World War II. Both the policy and academic researchers have been contributing to assess its severity and impact on businesses and economies while examining the foci of business researchers in this era of contagion. In this assessment, we have applied the approaches of bibliometric and content analysis on 403 qualified studies, drawn from the Scopus database. The period of data ranges from 2003 to June 2020. We identified 11 different research streams including tourism, supply chain besides economic and finance-related research. We highlighted the sub-streams and main concerns raised in the published literature. The findings of this research indicate that COVID will force the policy makers to come up with strategy and changes in various business fields. The implications of the study may be important for business managers to chalk out a proactive approach for business handling during and post-COVID eras.&nbsp;</p

What Business Researchers are Producing during Covid-19 A bibliometric approach

The way COVID-19 impacted every aspect of human life around the world, is now considered more disastrous than the World War II. Both the policy and academic researchers have been contributing to assess its severity and impact on businesses and economies while examining the foci of business researchers in this era of contagion. In this assessment, we have applied the approaches of bibliometric and content analysis on 403 qualified studies, drawn from the Scopus database. The period of data ranges from 2003 to June 2020. We identified 11 different research streams including tourism, supply chain besides economic and finance-related research. We highlighted the sub-streams and main concerns raised in the published literature. The findings of this research indicate that COVID will force the policy makers to come up with strategy and changes in various business fields. The implications of the study may be important for business managers to chalk out a proactive approach for business handling during and post-COVID eras.&nbsp

TALKING TO FOREIGN EXCHANGE MARKET; DOES IT MATTER FOR CENTRAL BANK?

This study reviews the market intervention technique used by central banks for the management of exchange rate. In literature, enough evidence is available describing that many Central Banks used intervention as a tool to control the volatility of foreign exchange; however, recently the Central Banks in larger industrialized nations shifted from physical intervention policy to the oral intervention policy. The evidence suggests that the oral intervention remained more successful in controlling the volatility compared to physical intervention.    JEL: F31, O24, E58  Article visualizations

TALKING TO FOREIGN EXCHANGE MARKET; DOES IT MATTER FOR CENTRAL BANK?

This study reviews the market intervention technique used by central banks for the management of exchange rate. In literature, enough evidence is available describing that many Central Banks used intervention as a tool to control the volatility of foreign exchange; however, recently the Central Banks in larger industrialized nations shifted from physical intervention policy to the oral intervention policy. The evidence suggests that the oral intervention remained more successful in controlling the volatility compared to physical intervention.    JEL: F31, O24, E58  Article visualizations

Past, Present and Future of FinTech Research: A Bibliometric Analysis

This study has conducted a meta-literature review examining the past, present and possible future trends of Fintech research using 360 selected articles published between 2006 and June 2020. Both quantitative and qualitative techniques were applied. In the quantitative approach, a bibliometric citation analysis using HistCite and VOSviewer software was conducted and the qualitative analysis covered the identification of four main research streams related to (i) Bitcoin and digital currency, (ii) crowdfunding, (iii) mobile payment, and (iv) blockchain. The study results highlight the most influential aspects of the FinTech literature, such as the leading countries, institutions, journals, authors, and articles. Suggestions for the potential future direction of FinTech literature have also been made