Sociological institutionalist approach on banks’ lending behavior in Myanmar (Burma)

A thesis submitted to the University of Bedfordshire in partial fulfilment of the requirements for the degree of Doctor of PhilosophyThis is an exploratory study which investigated the process by which banks' lending behaviour in Myanmar (Burma) was influenced by the institutional environment and their responses towards them. The theoretical framework used in this study was primarily drawn upon Scott's new institutional theory. Since the theory focused on the convergent perspective rather than divergent perspective, the theory of Oliver's strategic responses to these institutional pressures, coercive, normative and mimetic, was incorporated in the theoretical framework development. The main method of data collection was interviews. NVIVO was used to analyse these interviewed data. However, descriptive statistics were also used to provide a comprehensive picture of the context being studied. The findings suggest that banks' always attempted to extemalise risks to borrowers. Their responses to institutional pressures were to conform but a range of other forms of resistance were also found. However, strong forms of resistance were uncommon. I have also identified the situations in which the banks would choose either strong or weak forms of resistance to institutional pressures. Such identifications may add understanding to the specific lending strategies that are developed in different circumstances. The study also contributed to closing the gap in banking literature through conducting research in the context of Myanmar, which was previously unexplored. In addition, it suggests areas needed to be improved for financial sector development in Myanmar

What are the possible future research directions for bank’s credit risk assessment research? A systematic review

Banking prudence and efficiency to manage their risks in different business cycle and environment would help to alleviate crises and losses. Hence, the effective assessment of credit risk is an essential component of a comprehensive technique to credit risk assessment and critical to the long-run of not only banking institutions but also the economy as a whole. Therefore, it has received a great interest from scholars across finance and economics to investigate such assessments by banks in different countries using diverse theoretical underpinnings and methodologies. Hence, this paper is developed to review analytical conceptualisations of credit risks assessments that have been developed in the academic literature. By means of a systematic review, it provides a comprehensive analysis that encompasses approaches used in research papers. There has been no prior review on analytical conceptualisations in this area. Moreover, this review is done in a systematic manner, i.e. categorising journal articles into different categories such as purposes, perspectives and methodologies through a transparent and thorough process. Thus, it will be able to provide an objective review. Finally, the paper will outline the evolution of methodologies and theoretical underpinnings in credit risk management research and a landscape for possible future research direction

Banks’ lending behaviour under repressed financial regulatory environment: in the context of Myanmar

In an ideal world, banking operations should ensure that there is a match between business strategy and loan assessment behaviour (Berger and Udell, 2004). However, in reality, banks are confined within a highly institutionalised environment which shapes their lending behaviour. Banks operate between two spectra in terms of regulatory environment, with policies based either on financial repression or liberalisation. Repressive policies are more common in the banking sector than capital markets. According to McKinnon (1973), financial repression is defined by various policies whereby the state influences credit allocation in channelling financial resources to priority areas identified by the government and micromanaging banks’ lending behaviour through interest-rate caps, collateral requirements and capital controls. Financial liberalisation, on the other hand, is regarded as an efficient means of fostering competition and inviting growth impulses from abroad (Bartolini and Drazen, 1997). After a series of decisions supporting financial liberalisation which took place from the 1970s to the 1990s, this type of policy has been intensively studied by scholars. However, there is still no consensus on whether it has positive or negative impacts

Military Expenditure Economic Growth Nexus in Jordan:An Application of ARDL Bound Test Analysis in the Presence of Breaks

The Hashemite Kingdom of Jordan is a nation that has persisted through turbulent times. The country’s leaders have long attempted to balance the allocation of resources between a strong military and a developing economy in their quest for stability, peace and prosperity. This paper examines the relationship between Jordan’s military expenditure and economic growth during the period 1970-2015 to shed further light.  Using cointegration techniques allowing for structural breaks based on Gregory and Hansen (1996), and the ARDL methodology this paper tests the short and long-run equilibrium relationship between military expenditure and economic growth in Jordan. Furthermore, with the error correction model (ECM) and CUSUM and CUSUMSQ tests, we examine the stability of the above relationship. The results show that there is a positive, long-run and short run relationship between military expenditure and economic growth in Jordan during the period under study. This finding has important policy implication to the Jordanian state as it justifies that the transfer of resources to the military has not negatively impacted economic growth

A Historical Institutionalist Perspective on the Persistence of State Controls during Financial Sector Reforms:The Insightful Case of Myanmar

Purpose Many transition economies are former socialist planned economies and have undergone market reforms of their financial sector to signal their transition towards democracy. However, governments in these countries have been reluctant to relinquish the pre-existing controls on economy and have adopted nuanced and sophisticated approaches to retain control. In such context, scholars may find it challenging to investigate the role played by the state in the success or failure of attempted market reforms. This work investigates the different forms of state-induced accounting controls that may preserve the status quo within the economy during transition, using Myanmar as an example. Design/methodology/approach The authors adopted a longitudinal qualitative research method aiming to reveal the very processes and mechanisms used by the banks and their evolution over time. This method is in accordance with the historical institutionalist perspective that they have applied within this research. Findings The authors found that the Myanmar government embarked on the privatisation of their financial sector from 1990 to 2016 as a major public sector reform initiative. Under the guise of market reforms, it used both state-led and market-led controls to emulate and retain the socialist banking model where banks are used to fund the immediate government's budget deficits. This created a series of intended and unintended consequences, resulting in the ultimate failure of the government's market reforms. Research limitations/implications Previously, research on public sector management accounting in emerging economies was not relying consistently on using theory. The relative limited theorisation led to gaps when attempting to understand and explain the opaque forms of state control mechanisms in transition economies. By applying historical institutionalist perspective, and a more theory-driven, reflective approach to the interpretation of the data collected, the authors have provided a deeper insight and understanding on how different forms of state controls can emerge, adapt and persist in transition economies such as Myanmar. Practical implications The authors demonstrated that though the state may have implemented market reforms to signal regimes change, this does not necessarily mean that the government has relinquished their control on the economy. The state could take a more sophisticated, covert approach towards state controls leading to both intended and unintended consequences. Thus, even if the state's preferences change, the decisions cannot be easily reversed, as path-dependent state controls may have become pervasive affecting any further institutional and policy developments. Thus, the authors suggest that governments in both transition and developed economies should be cautious when enacting regulations on corporate control. Originality/value In this paper, the authors have applied a historical institutional perspective in their analysis instead of the more widely used sociological, institutionalist approach. This allowed authors to harness rich longitudinal data indicating that market reforms and their success or failure should be examined as an ongoing process rather than a completed action. This is especially important in transition economies where the state may be unwilling to renounce the existing controls on the industry and may resort to more opaque forms of state control, eventually obstructing the intended reforms

The Formulation of British Colonial Policy in Myanmar under Dyarchy

Myanmar was inserted in the British India as province after the occupation of Myanmar by the British who were well-experienced with colonial administration. Dyarchy was granted to Myanmar on the 2nd January 1923 according to “the Government of India Act and it was 4 years later than that of India. Dyarchy signifies a ruling of both administrative bodies. On one hand, the administrative system operated by the ministers appointed by the Governor-General and on the other hand, the ministers elected by Myanmar people. Yet, entire authoritative power was held by Viceroy and British officials. Thus the colonialism practiced by the British was just ruling by disintegration of political unity. The British government avoided using the strategy of cracking down the opposition of the Myanmar indigenous tribes as political tactics. According to the colonial policy of Divide and Rule, the ministers appointed by the central Government of India and Governor-General, took charge of important departments such as internal affairs, finance and foreign affairs. Myanmar ministers were assigned only in the unimportant departments like public works. As to the indigenous people’s affairs, hilly regions of Kachin, Kayah, Chin and Shan were acknowledged as backward regions and they were excluded in the administration. Dyarchy was just a way of procrastination not to offer “Home Rule” to Myanmar people. For that policy, the leading GCBA association which was the most active and patriotic campaign against the exploited British colonial administration split into two. Another tactic of the English was that the problem of separation and anti-separation. The problem of separation and anti-separation of Myanmar from India became a strongly controversy among the whole Myanmar people. As a consequence, the united Myanmar political organization disintegrated and the claim for “Home Rule” which was the people’s desire of that period had to fade away. The colonial policies practiced by the English during the administration of Dyarchy which gave great assistance to the long lasting colonial administration

Intention to purchase counterfeit luxury products: a comparative study between Pakistani and UK consumers

This study aims to provide a comparison between Pakistani and the UK consumers’ purchase intentions towards counterfeit luxury products by focusing on the relationships between the following factors: perceived quality, status consumption, low price and ethics. A sample of 251 university students from Pakistan (137) and the UK (114) was used. Data was analyzed using AMOS and SPSS. Results show that Pakistani consumers are satisfied with perceived quality of counterfeit products while the UK consumers are not. Status associated with the counterfeit products and prices of these products were found to be important factors for both samples. Pakistani consumers show less ethical behaviour compared to the UK consumers. Considering a single product category, i.e. luxury products, is a limitation of the study and selecting a single product category may possibly restrict the potential generalizability

Accounting professionals’ legitimacy maintenance of modern slavery inspired extreme work practices in an emerging economy

It is well-established in the human resource management literature that high intensity and excessive workload can cause undesirable physiological, psychological, behavioural, and social outcomes. However, there is a need to theorise the process by which extreme work has been legitimised and embedded among professionals. In this paper, we view extreme workers as those professionals who contribute to their works beyond acceptable contractual obligations, either voluntarily for personal rewards or involuntarily due to the menace of penalty, or both. We chose to investigate how accounting professionals in India legitimise extreme work in their workplaces using exploratory qualitative research methods and applied economies of worth theoretical framework. Our findings demonstrate that senior accounting professionals with the assistance of professional associations can play an important role in mobilising professional and organisational resources to tackle extreme work in their accounting firms and the industry.</p

Computerized FDTD Method for Longitudinal Optical Phonon Energy on Semiconductor Hybrid Structure for High Power Devices Fabrication

The research problem in this study is the longitudinal optical phonon energy on metal/semiconductor interface for high performance semiconductor device. The research solution is to make the software model with finite difference time domain (FDTD) solution for transmission and reflection pulse between metal and semiconductor interface for carrier dynamics effects. The objective of this study is to find the quantum mechanics understanding on interface engineering for fabricating the high performance device for future semiconductor technology development. The analysis was carried out with the help of MATLAB. The quantum mechanical spatial field on metal-semiconductor stripe structure has been analyzed by FDTD techniques. This emission reveals a characteristic polar radiation distribution of electric dipoles and a wavelength independent of the structure size or the direction of emission; consequently, it is attributed to thermally generate electric dipoles resonating with the longitudinal optical phonon energy. Phonon energy occurs lattice vibration of material by the polarization of light, if the material has rigid structure reflect back the incident light. So, high reflective metal-semiconductor structure always use as photodectors devices in optical fiber communication. No lattice vibration material structure has no phonon effect, so this structure based devices can get high performance any other structure based devices. The transmission and reflection coefficient of metal-semiconductor GaN/Au layer structure compare with GaN/Ti and GaN/Pt structure. Parallel (P) and transverse (S) polarization of light incident on a metal-semiconductor nanolayer structure with IR wavelength. Efficient use of the layer by layer (LbL) method to fabricate nanofilms requires meeting certain conditions and limitations that were revealed in the course of research on model systems

Role of inclusive self-help groups in prevention and management of diabetes and hypertension in Myanmar:a qualitative study

Background: Noncommunicable diseases (NCDs) are a growing public health concern in Myanmar. Community-based self-help groups are essential for participating in health-related activities. However, little is known about the role of inclusive self-help groups (ISHG) in hypertension and diabetes management. This study aimed to assess knowledge and perception of health-related activities of ISHG and explore challenges ISHG group members encountered in performing hypertension and diabetes prevention and management activities.Methods: The study included six townships from three different regions of Myanmar, where ISHG existed. Two focus group discussions (FGDs) were held in each township. A total of twelve FGDs were conducted. All discussions were conducted, audio-recorded and transcribed verbatim in Myanmar language. A thematic analysis was performed using inductive and deductive approaches.Results: The findings revealed that ISHG members provided advice and counselling on behavioural risk factors for hypertension and diabetes prevention and screenings for those diseases. They also offered home care for the elderly and stroke patients who required their assistance. Community members regarded ISHG as a valuable community structure. Members of the ISHG identified a number of challenges, including lack of resources (funding, manpower, and time), lack of confidence, and lack of recognition and acceptance. Support and strengthening activities by local authorities and the government were critical to sustain ISHG's activities and efforts.Conclusions: Hypertension and diabetes management activities of ISHG are appreciative. The public and government should recognize and support ISHG to strengthen their community activities