Role Of Finance Research Articles

Stefan Ouma's Farming As Financial Asset in the Broader Context of Imperialism and Ecological Crises

ABSTRACT: Stefan Ouma's Farming as Financial Asset: Global Finance and the Making of Institutional Landscapes is a valuable contribution to the study of the concrete workings of global finance in agriculture. Through case studies from Tanzania and Aotearoa New Zealand, Ouma's book sheds insight into topics as varied as the colonial history of finance in agriculture, the role of the state, the specific financial actors involved, the difficulties of investigating the specifics of financial investments, and much more. While not addressing the issue of contemporary imperialism, the book touches upon many related topics such as finance's role in furthering inequality, ecological sustainability, and land-driven conflicts. While the author's grasp of the nuances and details of finance-in-farming is commendable, none of the issues brought up by Ouma occur in a political black box but are also arguably parts of the global and complex phenomenon of ecological imperialism with bigger-picture connections that need deeper exploration and theorizing.

Digital finance reduces urban carbon footprint pressure in 277 Chinese cities

As global warming's impact on humanity surpasses initial predictions, numerous countries confront heightened risks associated with escalating urban carbon footprints. Concurrently, digital finance has flourished, propelled by advancements in digital technology. This convergence underscores the urgency of exploring digital finance's role in mitigating urban carbon footprint pressures. This study analyzes data spanning 277 Chinese cities from 2011 to 2020, yielding several key findings: Firstly, we developed a dataset detailing the carbon footprint pressures in these cities, revealing that variations in these pressures predominantly correlate with economic growth. Secondly, our analysis indicates that digital finance has a significant impact on reducing urban carbon footprint pressures, through mechanisms such as reducing the number of physical bank branches and enhancing residents' environmental awareness. Thirdly, the study identifies that the efficacy of digital finance in reducing carbon footprint pressures varies according to factors like sunshine duration and geographic location. The insights from this research aim to contribute substantively to strategies for sustainable urban development.

Bridging the gap: Digital finance's role in addressing maturity mismatch in investment and financing for agricultural enterprises

This research investigates digital finance's impact on reducing investment and financing maturity mismatches in agricultural enterprises, leveraging data from Chinese A-share listed companies between 2011 and 2022. The findings confirm digital finance's effectiveness in lessening these mismatches, as validated through comprehensive tests. Importantly, it alleviates maturity mismatch risks by enhancing information transparency and loosening financing constraints. The influence is especially notable in highly marketized regions and within both newly founded and closely examined firms. This emphasizes digital finance's key role in solving agricultural enterprises' investment and financing challenges.

The Impact of Green Finance on Corporate ESG Performance: Evidence from China

This study examines the influence of green finance on corporate ESG performance in China, highlighting regional disparities and the role of marketization, societal green attention, and technological innovation. It reveals that green finance is significantly associated with improved ESG performance, particularly in the economically advanced Eastern region. Marketization and societal emphasis on green practices are positively correlated with ESG scores, while the impact of new technologies, though positive, requires further research due to its statistical proximity to significance. This paper underscores the importance of adapting green finance strategies to regional economic contexts and suggests an expanded scope for future research to enhance the understanding of sustainable finance's role in corporate ESG outcomes.

Digital HP finance's role in the economic resilience of enterprises’ digital transformation

To promote digital transformation by enterprises and provide more convenient and efficient financial services, this study analyzes enterprise digital transformation's promotion mechanism and economic influence factors globally and clarifies the role of inclusive digital finance in self-regulation and reducing financing difficulties during enterprise transformation. Finally, an economic resilience model is constructed to select parameters of economic factors, refined into two dimensions: enterprise transformation ability and enterprise upgrading ability. The digital economy is found to be conducive to improving the gross profit margin of enterprises with a significance greater than 0. A regression analysis shows that the estimated coefficients of the digital financial inclusion index, breadth of coverage, and depth of use are all significantly positive, and the different nature of the firms passes the significance test at the 1 % level. Thus, inclusive digital finance reduces the business risk of digital transformation and promotes the development of enterprises in the direction of specialization and innovation.

Exploring the impact of digital inclusive finance on consumption volatility: Insights from household entrepreneurship and income volatility

The application of digital technology has reshaped all aspects of social life, and the impact of financial technology on the economy is unprecedented. Consumption is an eternal issue in economic development; however, most existing studies have concentrated on how digital inclusive Finance affects household consumption levels, giving little attention to consumption volatility. Nonetheless, policies that overlook consumption volatility are less likely to achieve societal welfare goals, particularly in developing countries. This study aims to fill this gap and unveil the “black box” of the impact of digital inclusive Finance on consumption volatility, which can benefit the development of economic resilience. Utilizing data from the China Household Finance Survey, our research assesses the impact of digital inclusive Finance on household consumption volatility and discovers that digital inclusive Finance significantly smooths out these fluctuations. Mechanism tests further indicate that the main transmission channels for this impact are promoting entrepreneurship and reducing income volatility. Moreover, heterogeneity tests show that the effect of digital inclusive Finance in smoothing household consumption volatility is more pronounced in households with sound financial standing, higher financial literacy, and internet access, especially in rural areas. These findings enrich the literature on digital inclusive Finance's role in managing volatility and extend the theory on the inclusive nature of digital inclusive Finance, offering valuable practical implications for developing countries.

Ambitions and realities: Are Global Fund investments designed to achieve resilient and sustainable systems for health? Findings from the Global Fund Prospective Country Evaluation.

Strengthening resilient and sustainable systems for health (RSSH) is central to the Global Fund's strategy, however questions persist about the Global Fund's role in the health systems strengthening space, and the extent to which investments are designed to achieve strengthening objectives, or just fill in gaps in the system. This paper reports on findings from the Prospective Country Evaluations (PCE), a multi-country multi-year evaluation of Global Fund support. We adapted a framework from Chee et al. (2013) to assess whether Global Fund investments were designed to strengthen or support the health system. Per this framework, 'systems support' refers to improvements in health systems functioning primarily driven by increases in inputs, whereas 'systems strengthening' refers to activities that drive changes in how the health system operates (often related to policies, regulations, governance structures, behavior change, and resource optimization). In the 2017 and 2019 funding cycles, we found that despite calls from the Global Fund to invest more strategically to strengthen health systems, a high proportion of RSSH funding was directed toward activities that support the health system. Factors underlying this pattern include limitations imposed by the three-year grant cycle, a lack of clear guidance on how to design strengthening investments, a persistent need for funding to address input gaps, and minimal feedback during the funding request process related to RSSH design. For the Global Fund, and indeed other global health initiatives, to contribute to sustained strengthening of health systems, is likely to require enhanced guidance and technical assistance, as well as improved measurement of outputs and outcomes.

Green finance and environmental, social, and governance: evidence from Chinese listed companies.

In recent years, academics have paid more attention to green finance, and public companies have reached a broad consensus on the concept of timely environmental, social, and governance (ESG) disclosure. Due to the close relationship between green finance and ESG, this presents an opportunity to determine whether green finance compels companies to actively disclose ESG. The sample for this study consists of China's non-financial A-share listed companies from 2010 to 2021, and the empirical findings demonstrate that green finance can positively influence the ESG performance of listed companies. Through an analysis of heterogeneity, this study reaches the following conclusions: state-owned enterprises, heavy pollution companies, and companies in low-carbon pilot cities perform better in terms of green finance's role in promoting ESG scoring. This study also introduces market concentration and social trust as the moderating variables, enriching the green finance research framework. Through the analysis of moderating variables, the 'black box' effect of green finance on ESG is disclosed, providing theoretical support for the government and companies to better comprehend the policy effect as well as a reference for reform and experimental promotion of green finance.

How digital finance affects environmental pollution management: evidence from China.

Due to people's insufficient anticipation of the negative impact of highly developed industries and the lack of prevention, global environmental pollution has occurred. These pollutants include air pollution, water pollutants, and land pollution, which not only cause direct damage and impact the ecosystem but also endanger the health of urban residents and economic development. Therefore, researching environmental pollution management is necessary to help solve these imminent environmental problems. In addition, digital finance, based on digital technology, can identify bottlenecks in environmental pollution management, formulate more effective governance strategies, and reduce environmental pollution at the source. In this context, this study uses the environmental pollution data of 287 cities in China from 2011 to 2021. It uses the fixed-effects and mediation effect models to analyze digital finance's role in environmental pollution management. The research shows that digital finance can promote environmental pollution management and play a promoting role through two channels of influence: green technology innovation and government green subsidies. At the same time, the effect of this promotion is more significant in cities in the Midwest and in resource-based cities. The research results propose strategies for government organizations in environmental pollution management, and alleviate current resource and environmental problems, in addition to realizing sustainable urban development.

Green financing and environmental risk mitigation: is environmental protection tax law that important?

This research examines green finance's role in mitigating environmental concerns in China. The significance of the tax code for environmental protection is examined in detail. The research examines the association between green financing and lowering environmental hazards using regression analysis tests, dummy estimation techniques, and robustness analysis on data collected between 2003 and 2018. This research demonstrates that the Environmental Protection Tax Law is a valuable policy instrument for advancing environmentally responsible financing and addressing environmental issues. Green money was shown to be associated with lower environmental hazards. This study's results imply that tax legislation has been implemented to safeguard the environment in China, and more money has been placed into environmentally beneficial initiatives. The impact of environmental protection legislation on greenhouse gas emissions, urbanization, and CO2 emissions is also highlighted. These findings are significant for environmentalists, policymakers, and the financial and banking sectors because they demonstrate how to develop effective strategies to advance green finance and mitigate ecological threats.

Exploring the roles of green finance and environmental regulations on CO2es: defining the roles of social and economic globalization in the next eleven nations

Achieving sustainable environmental growth and preventing further environmental degradation are challenging goals for policymakers. This study looks at environmental laws and green finance's role in fostering a more sustainable environment. The literature still needs to empirically or theoretically investigate how environmental laws and green financing affect carbon dioxide (CO2) emissions, particularly when combined with moderating factors such as social and economic globalization. As a result, this study investigates how environmental laws and green funding can help the N-11 nations cut their CO2 emissions. Our research uses empirical data from a group of the N-11 nations that span the years 2000 to 2019. To handle issues with panel data analysis, such as cross-sectional dependence and slope heterogeneity, we use advanced panel approaches (CIPS and CADF unit root and cointegration test and cross-sectional augmented ARDL). This research demonstrates that green financing (GFI) and environmental laws (ENV) have a negative but significant effect on CO2 emissions. While social globalization moderates the causal relationship between energy consumption and GDP while negatively and significantly causing GFI and ENV with CO2 emissions among the N-11 countries, economic growth has had a positive and significant effect on CO2 emissions in the N-11 countries. According to our research, nations could achieve the SDG-7 and SDG-13 goals if they adopted green financial and environmental policies.

The Russian Federation and the International Monetary Fund: Prospects for financial relations at the present stage

Subject. This article explores the evolution of the International Monetary Fund's role in the regulation of monetary and credit relations. Objectives. The article aims to analyze the approaches of the International Monetary Fund to the conducting lending transactions and to the formation of the funding base. Methods. For the study, I used general scientific research methods. Results. The article finds that the International Monetary Fund has changed its approach to the formation of the loan portfolio. Major developing countries get increasingly involved in the funding of financial transactions, still, they are not given any ancillary decision-making rights. Conclusions. Russia's participation in financial transactions of the International Monetary Fund does not meet the primary objectives of the country's economic development.

Impact of green finance on renewable energy development: A spatiotemporal consistency perspective

The accurate understanding and grasping of green finance's role and effect process would help improve the accuracy of policies and, thereby, the development of renewable energy in China. Based on a newly built structural break modified SPDM (Spatial Panel Dobbin Model), this study explores the spatiotemporal consistency effects of green finance on renewable energy development and their geographical attenuation process. Several results could be obtained: (1) green finance plays an improving role in developing renewable energy in terms of both local and neighboring regions; (2) the effect objective areas of green finance are transferred from local regions to neighboring regions progressively as green finance grows in China, since the effect degree become weaker in local regions but stronger in neighboring regions; (3) the outflow phenomenon of green finance's effect on renewable energy development is stopped and reversed to siphon effect by the public health crisis that happened in 2019; (4) for green finance's spillover effects on renewable energy development, there are apparent geographic attenuation boundaries in areas near 700 km and impacting dense regions in areas near 350 km.

The role of green finance in promoting sustainable economic and environmental development

This study examines green finance's role in sustainable economic and environmental development in the selected 26 OECD countries from 2000 to 2018. Due to the peculiarity of the macroeconomic data, we opted for autoregressive with a fixed-effect model to enable us to account for the autocorrelation and unbalance data settings. The regression analysis shows that green finance promotes sustainable economic and environmental development. Therefore, we recommend promoting green finance by facilitating a solid green financial market, green financial system, and speedy development of the green financial system in underdeveloped areas. This policies may serve as reference for achieving SDGs by 2030.

Universidad, revolución y dólares: Dos estudios sobre la Guerra Fría cultural en el Uruguay de los sesenta

Universidad, revolución y dólares: Dos estudios sobre la Guerra Fría cultural en el Uruguay de los sesenta

Risk Ownership, ERM Practices, and the Role of the Finance Function

ABSTRACTThis study provides exploratory evidence on the associations between the assignment of senior-level “risk ownership” and the sophistication of the enterprise risk management (ERM) process, ERM sophistication differences in firms with single versus multiple risk owners, and the relationship between CFO risk ownership and Finance's role in the ERM process. Using a global, multi-industry survey, we find ERM sophistication positively associated with broader risk ownership and CFO risk ownership. Finance functions in firms with more sophisticated ERM practices and with CFOs who are risk owners tend to contribute to the identification, monitoring, and management of a broader range of financial, operational, and market risks. Firms with more sophisticated ERM report being better prepared when they encountered major risk events and having stronger competitive positions. However, risk ownership differences are not directly associated with these outcomes after controlling for ERM sophistication.

Human Security Perspectives on Refugee Children in Germany

This research identifies challenges and solutions for the situation of accompanied children in German refugee accommodations along the seven human security dimensions (economy, environment, food, health, personal, community and political rights). It analyses existing binding and non‐binding standards for the protection of refugee children at federal, state and municipal level, and their development since 2014. In particular, the United Nations Children's Fund's role for the development of voluntary protection standards is discussed as a role model to enhance the awareness for the protection of refugee children in Germany.

أثر بناء هیاکل تمویلیة متوازنة على الأداء المالی فی المشروعات الصغیرة دراسة میدانیة

تعد المشروعات الصغيرة من أهم المشروعات التي تساهم في تحريک عجلة الإقتصاد والنمو في الکثير من بلدان العلم في مجالات عدة، وبالرغم من ذلک فهي تواجه مشاکل متنوعة من أهمها التمويل، حيث تکمن مشکلة الدراسة في محدودية و عدم تنوع مصادر التمويل في المشروعات الصغيرة مما أثر سلبا على الأداء المالي للمشروعات الصغيرة في ليبيا، وبالتالي على کفاءتها وفعاليتها ومن ثم نجاحها واستمراريتها وقد قامت الدراسة على فرضيين رئيسيين، بحيت ينص الأول على أنه لا توجد فروق معنوية بين التمويل بالملکية وبين الأداء المالي في المشروعات الصغيرة، أما الفرض الثاني فينص على أنه لا توجد فروق معنوية بين التمويل بالاقتراض وبين الأداء المالي في المشروعات الصغيرة. وقد هدفت الدراسة إلى تحليل مکونات الهيکل التمويلي الحالي للمشروعات الصغيرة في ليبيا، ومعرفة أثر بناء هياکل تمويلية متوازنة على الأداء المالي للمشروعات الصغيرة، واقتراح نموذج لبناء هياکل تمويلية متوازنة للمشروعات الصغيرة في ليبيا. ومن أهم نتائج الدراسة: ضعف سياسات التمويل المعتمدة لدى المصارف الممولة وآليات تنفيذها، و غياب دور صندوق ضمان الإقراض لأغراض التشغيل کمؤسسة ضامنة، و عدم وجود مصرف وطني لتمويل وتنمية المشروعات الصغيرة ومتناهية الصغر، قصور الهياکل التمويلية الحالية للمشروعات الصغيرة على مصر التمويل بالاقتراض من المصارف التقليدية والمتخصصة فقط ومن أهم توصياتها: تبني سياسات تمويل تحدد الإطار العام لکافة الإجراءات التمويلية للمشروعات الصغيرة ، وتفعيل دور صندوق ضمان الإقراض الأعراض التشغيل لإقراض من المشروعات الصغيرة، وکذلک المصارف المتخصصة و الاستثمارية لتنمية المشروعات الصغيرة، إنشاء مصرف وطني لتمويل المشروعات الصغيرة، إعادة بناء الهيکل التمويلي للمشروعات الصغيرة بحيث يتشکل من مصادر تمويل بالاقتراض، وأخرى تمويل بالملکية Abstract: Small businesses are the most important businesses as they contribute to economy in many countries. However, they face various problems and the most important among these problems is financing. Accordingly, the problem of this study lies in scarcity and non-diversity of sources for financing small business. This, in turn, had negative impact of the financial performance of small businesses in Libya and then on their efficiency and effectiveness in. This study is based on two main hypotheses. The first hypothesis states that there is no significant differences between equity financing and the financial performance of small businesses. Then, the second hypothesis states that there is no significant differences between debt financing and the financial performance of small businesses. The study aims to analyze the components of small businesses' financing structure and propose a model for building balanced financing structures for small businesses in Libya. The most important findings of the study are: the weakness of approved financing policies in financing banks and their implementation mechanisms, the lack of Loan-Guaranteeing Fund's role for purposes of operation, the lack of a national bank to finance and guarantee small businesses, the current financing structures of small businesses are limited to debt financing from traditional and specializing banks.

Integration of Finance with Marketing and R&D in New Product Development: The Role of Project Stage

While the interfaces of marketing, research and development (R&D), and manufacturing in product development have been extensively studied, no large‐scale empirical study has focused on finance's role in the product development team. The present research investigates the role of finance in cross‐functional product development teams, thereby extending existing research on cross‐functional integration in product development. A set of hypotheses is tested with a survey of 389 project team leaders and top management team members from companies in the United States, Australia, New Zealand, Germany, and Austria. The findings suggest that the integration of finance in cross‐functional teams positively impacts project performance and that the importance of the finance interface depends on the project development stage and the innovativeness of the product developed. The results indicate that the R&D–finance interface is most critical at the early stage of a project, while the marketing–finance interface is most important at the late stage, and that the integration between R&D and finance is especially useful in the development of less innovative products.

Asia and Global Financial Governance

The remarkable growth of Asian economies and their integration in global trade and finance has given them considerable potential clout in international forums and institutions. However, Asia's influence in the International Monetary Fund and the Group of Twenty (G-20) – the most important institution and decision-making forum in global finance, respectively – is not yet commensurate with its economic weight. Henning and Khan find that this is partly the result of a conscious choice by Asian countries to keep the Fund at arm's length, reflecting the bitter memories of the Fund's role in the 1997-98 Asian financial crisis and more recent disputes over surveillance. But it is also due to the fact that Asia has not, at least until recently, asserted itself in global financial circles. There are welcome signs now of Asia doing so, demanding greater voice and representation through increases in quota shares in the Fund. Given Europeans' resistance to further reducing their quotas and votes, however, Asian countries will need to persist, establish unified positions on matters of regional and systemic importance, and lead a substantive agenda for the Fund. Playing its rightful role in the Fund need not detract from Asia's existing regional financial arrangements, including the possibility of eventually creating an Asian Monetary Fund. Within the G-20, Asia should seek to form common ground and coalitions with other members, and the Asian members of the G-20 should seek out and reflect the views and concerns of Asian countries that are not members of the G-20. These two actions could both strengthen the position of Asian countries in the G-20 and give voice and a stake to all Asian countries.