The Impact of Governance on the Level of Disclosure and its Role in Attracting and Supporting Foreign Investment: Model of Qatar Stock Exchange

2018 ◽  
Vol 1 (1) ◽  
pp. 37-63
Author(s):  
Friha Linda ◽  
Touamria Rym ◽  
Kherouf Mounir
Keyword(s):  
Market Efficiency ◽  
Financial Market ◽  
Foreign Investment ◽  
Foreign Capital ◽  
Stock Exchange ◽  
Research Paper ◽  
Investment Model ◽  
Foreign Investments ◽  
The Impact

Through this research paper, we have considered the necessity to shed the light on role of the finance market efficiency in attracting foreign investments. That is through providing different concepts related to the investment and its types, as well as the financial market efficiency, the effect of the governance on disclosure, and its role in attracting foreign investment, all that will be represented through the Qatar market. The results found that the governance level plays an important role in attracting foreign capital through activating the level of disclosure, which is the cornerstone of success for the financial market as well as support success of any investor. The results showed that Qatar market in spite of it is being recently established, it achieved interesting results in attracting investments despite the existence of many obstacles, which block its expansion in the way it is required.    

scholarly journals Amendment of India Mauritius DTAA and its Impact on Foreign Investment in India

2019 ◽  
Vol 8 (2S3) ◽  
pp. 1447-1454
Keyword(s):  
Foreign Investment ◽  
Foreign Capital ◽  
Capital Gains ◽  
International Taxation ◽  
Small Island ◽  
Profit Shifting ◽  
Full Effect ◽  
To Come ◽  
The Impact

The objective of this paper is to the study the impact of the amendment of India Mauritius DTAA on foreign investment in India. It provides adetailed analysis of how Mauritius, a small island country became the most favourite route for foreign investor in India during the period 2000 to 2017. The paper identifies the reasons for emergence of Mauritius as the foremost exporter of foreign capital to India and in this context examines the role of the Agreement on Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes of Income and Capital Gains between India and Mauritius (DTAC). In 2016, DTAC was amended and with the implementation of General Anti Avoidance Rule (GARR) from 2017 by India and changes in international taxation zeitgeist due to OECD project on Base Erosion Profit Shifting (BEPS) the Mauritius route faced new challenges. The paper studies the influence of these changes on FPI and FDI investments flow from Mauritius to India.It finds that advantage of Mauritius in FDI and FPI flow has come down in 2018-19 and its share in foreign investment is likely to come down further with the amendment of the DTAC taking full effect from April 2019. However,amendment has given Mauritius a competitive advantage in channelizing debt investment to India as compared to its competitors like Singapore and the Netherlands and in future we may see higher debt investment from Mauritius.

scholarly journals THE FINANCIAL MARKET OF UKRAINE AND THE ROLE OF FOREIGN DIRECT INVESTMENT

Ekonomika ◽  
2013 ◽  
Vol 92 (1) ◽  
pp. 64-77
Author(s):  
Igor Lyutiy ◽  
Mariya Borovikova
Keyword(s):  
Foreign Direct Investment ◽  
Financial Market ◽  
Financial Institutions ◽  
Foreign Investment ◽  
Direct Investment ◽  
Negative Effects ◽  
Different Types ◽  
The Stability ◽  
The Impact

Abstract. The main objective of this paper is to investigate the characteristics of the institutional structure of the Ukrainian financial market and to analyze the impact of foreign direct investment on it. The following methods of research were used by the authors: economic-statistical, tabular, and comparative (in empirical analysis; to make comparisons across different types of financial institutions, to investigate and evaluate the volumes of foreign direct investment by countries and their relation to the size of the domestic financial sector); systematic and logical (determining and analyzing the scope of the positive and negative effects of foreign investment on the financial market of Ukraine).The conclusions are as the follows: the structure of the financial market of Ukraine is rather nonbalanced and fragile; most foreign investors have changed their strategies on the Ukrainian financial market from aggressive to share-keeping; more attention should be paid to the development of the constructive policy concerning FDI to ensure the stability and even the development of the domestic financial market as well as to raise its investment attractiveness.Key words: financial market, commercial bank, non-bank financial institutions (NBFIs), foreign investment, investment attractiveness

International Aspects of Investment Liberalization in the PRC: A Case of EU-China Cooperation

2021 ◽  
Vol 13 (3) ◽  
pp. 190-224
Author(s):  
D. A. Potapov
Keyword(s):  
Foreign Investment ◽  
World Order ◽  
Special Focus ◽  
The European Union ◽  
Human Right ◽  
Foreign Investments ◽  
Eu Member States ◽  
International Aspects ◽  
The Eu

The paper examines the role of investment cooperation and national foreign investment regime as a means to promote China’s economic and political interests and to respond to new global challenges that the country faces nowadays. To this end, the author examines the main stages of China’s liberalization of the legal regime for foreign investment from the end of the 1970s with a special focus on a new foreign investment law. In doing so the author attempts to link the evolution of investment regulation in the PRC with the dynamics of international relations development and the changing role of China as a regional and global actor. The author emphasizes that a trend towards the emergence of a polycentric world order not only provokes the rise of international tensions but also provides new incentives to promote dialogue and enhance cooperation between states and non-governmental actors, particularly by encouraging foreign investments. At the same time, there is a growing need to improve regulatory mechanisms for direct foreign investments. All these contradictory trends have directly affected China’s foreign investment regime reform. In this context the investment cooperation between the PRC and the European Union is of particular importance. The EU possesses a set of innovative technological solutions and competencies that are of particular interest to the Chinese leaders in the context of their efforts to modernize the country’s economy. The paper examines the volume, dynamics and key directions of investment flows between China and the EU member-states. The fact that after seven years of difficult negotiations, the EU and China managed to develop a special bilateral regulatory mechanism — EU-China Comprehensive Agreement on Investment — underscores again the importance of this cooperation for both parties. Even though the EU has suspended the ratification of this deal on the pretext of human right violations in the Xinjiang Uygur Autonomous Region, the author concludes, that in the future this agreement will come into force, since the very logic of the emerging polycentric world order urges for deeper cooperation between the EU and China. In this context, the investment regulation appears not only as a means to protect the Chinese economic interests, but also as an instrument to strengthen China’s international positions in the changing global context.

تأثير رأس المال الاجنبي المودع في القيمة السوقة للشركة دراسة تطبيقية في عينة من الشركات المدرجة في سوق العراق للأوراق المالية للمدة (2012-2020)

2021 ◽  
Vol 2021 (71) ◽  
pp. 164-182
Author(s):  
م.د لميس محمد مطرود ◽  
أ.م.د سمير عبدالصاحب يارا ◽  
م.د اسيل موسى جاسم
Keyword(s):  
Foreign Capital ◽  
Stock Exchange ◽  
Market Value ◽  
Listed Companies ◽  
Statistical Test ◽  
The Impact

The research aims to measure the impact of the capital deposited for non-Iraqi investors and the investor in the shares of companies listed in the Iraqi Stock Exchange on the market value of those companies, as well as studying the impact of the total foreign capital deposited in the sectors listed in the market on the market value of those sectors, and analyzing the value of the capital deposited and the market value of the sample companies. To achieve the research objective, (15) listed companies were selected for the period (2012-2020). The research relied on four main hypotheses, the most important of which is “there is no significant effect of deposited foreign capital on the market value of companies.” The results of the (F) statistical test revealed the presence of the effect of deposited capital for non-Iraqis on the market value of companies.

Managers ability and investment dynamics during the global financial crisis: an emerging market context

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Rehana Naheed ◽  
Bushra Sarwar ◽  
Rukhsana Naheed
Keyword(s):  
Global Financial Crisis ◽  
Stock Exchange ◽  
Emerging Market ◽  
Investment Policy ◽  
Managerial Ability ◽  
Content Type ◽  
Crisis Period ◽  
Managerial Talent ◽  
The Impact

Purpose Many scholars have developed several theories and empirics to study issues related to investment policy. However, there are still some unexplored issues in the field of finance that require further analysis and investigation, particularly in the corporate governance literature such as the role of managerial talent in the firms. This study investigated the impact of managerial ability on investment decisions of the firms. Design/methodology/approach The study first uses firm efficiency and managerial ability by using data envelope analysis (DEA) proposed by Demerjian, Lev and McVay, 2012. Data is collected for the firms listed in Shenzhen and Shanghai stock exchange for an emerging market of China during the crisis period with 1,640 number of observations. Findings The study reveals that the presence of more managerial talent in a firm is significant for the strategic decisions of the firms. Findings follow a resource-based view and identify that more talented managers help the firms in the acquisition of resources specifically during financial distress. The study subdivides the firms based on: ownership structures and financial constraints. Results generated from propensity score matching imply that the role of high-talented managers is significantly different from that of low-talented managers. Originality/value The study reveals managerial ability as a determinant of investment policy. To the researchers’ best knowledge, none of the previous studies have been conducted in emerging market literature during the crisis period.

scholarly journals The Impact of Common Problems between the Sectors of Industry and Capital and Ways of their Solutions in the Russian Federation: أثر المشاكل المُشتركة بين قِطاعات الصِناعة ورؤوس الأموال وطُرُق حُلولها في روسيا الإتحادية

2017 ◽  
Vol 1 (5) ◽  
Author(s):  
Nemer Louay Badwan
Keyword(s):  
Financial Market ◽  
Success Factors ◽  
Investment Projects ◽  
Industrial Sectors ◽  
National Economic ◽  
Capital Financing ◽  
Common Problems ◽  
Industry Sectors ◽  
The Impact

This study summarizes the impact of common problems between capital and industry sectors and aims to find solutions to these problems to reduce them or to reduce them. It also clarifies the resemblance and comparison of technology to the sectors of industry and capital in Russian Russia. Russia's total over the previous years, and show what happened in the Russian financial market following the withdrawal of many capital and investors from within Russia to abroad, and also shows us this study also the rotational nature of capital in Russia, as this study shows some of its objectives as a most important explanation The capital and industry sectors, their success factors and competitiveness in their application. It also shows the impact of capital financing on industries, clarifying the role of capital finance in various investment projects and in different sectors of industry, and summarizes the scientific and practical concept of capital and industry sectors. And the process, and this can be seen through analytical, graphical and statistical tables within the Russian market in terms of products, profits and losses of the Russian industries by percentages, and the exposure of some Russian investments within Russia, As well as some of the dynamics of consumption within Russia in terms of expenditures, exports, imports and expenditures, and the structure of small and medium-sized enterprises in percentages in terms of production and consumption In the various sectors of Russian industry. The study also summarizes the role of the Russian financial market in the national economic activity and the ratios of fixed assets and the total amounts invested and taxes imposed on them. The study also examined the financial and industrial activities of most of the industrial sectors in Russia and their impact on the economic situation inside the country.

scholarly journals Transactions Volume, Exchange Direction and Asymmetry of Volatility in Emerging Market: Evidence From Tunisian Stock Exchange

2020 ◽  
Vol 11 (6) ◽  
pp. 318
Author(s):  
Jaber Yasmina
Keyword(s):  
Stock Market ◽  
Financial Market ◽  
Stock Exchange ◽  
Emerging Market ◽  
Explanatory Power ◽  
Trading Activity ◽  
Auto Correlation ◽  
The Asymmetry ◽  
The Impact ◽  
The Relationship

This study is an attempt to explain the relationship between intraday return and volume in Tunisian Stock Market. Indeed, former researches avow that the trading activity have the main explanatory power for volatility. However, most theories measure the activity of transactions through the size of exchange or the number of transactions. Nevertheless, these components are not aware enough of the importance of the direction of exchange when explaining the phenomenon of asymmetry of volatility. In the most of studies, the technique “Augmented Tick Test” (ATT) is employed so as to identify the direction of exchange. Such technique is adapted for the markets directed by orders like the Tunisian financial market. Again, this paper shows that the impact of the direction of exchange differs according to the market trend. In other words, if the returns are positive, the transactions of sale (of purchase) generate a decrease (increase) of volatility; whereas, they induce an increase (drop) of volatility if returns are negative. This result stresses the significance of exchange direction in explaning the asymmetry of volatility. Moreover, throughout this study, one may affirm that “Herding trades” are at the origin of the increase of volatility, while the “Contrarian trades” reduce volatility. Similarly, the identification of the direction of exchange enables us to affirm that the transactions of the initiates are characterized by the absence of returns auto- correlation; whereas, the transactions carried out by uninformed investors present an auto- correlation of the returns. In fact, the sign of this correlation varies according to transaction direction.

scholarly journals An Evaluation of Relationship between Risk, Return and Social Structure and their Impact on Individual Investor’s Behaviour at Pakistan Stock Exchange

2019 ◽  
Vol 15 (1) ◽  
pp. 184-192
Author(s):  
Sumair Farooq ◽  
Keyword(s):  
Social Structure ◽  
Stock Exchange ◽  
Research Paper ◽  
Individual Investors ◽  
Probability Method ◽  
Risk And Return ◽  
Secondary Sources ◽  
Risk Return ◽  
Investor Behaviour

This research paper focusing on twofold purposes: where the first part focuses on providing positive evidence on the nature of relationship between risk and return. Moreover, the second part of the paper deals with analyzing the role of risk and return and social structures on the investor’s behaviour in specific consideration with Pakistan Stock Exchange (PSX) (formerly Karachi Stock Exchange; KSE). This research paper has employed a quantitative approach for the purpose of collection of data and analysis of the results in order to fulfil the aim and objectives of the study. The data for risk and return has been collected from secondary sources. The risk and return for 50 companies that are listed on Pakistan Stock Exchange and at least once paid dividend have been calculated for 11 years which is from 2007 to 2017. Moreover, in order to collect the data for social structure and investor  behaviour  the  researcher  has  used  survey  questionnaire  as  the  research  instrument.  The  questionnaire was filled by 558 individual investors who have invested their capital in the stock of companies listed on Pakistan Stock Exchange. The sampling method that was used for the purpose of selecting respondents for getting the questionnaires filled was non-probability method. For all the independent variables the null hypotheses are rejected thus showing significance of relationship. The results from  the  regression  analysis  has  shown  that  among  all  the  predicting  variables  social  structure explains the lowest amount of variation in investor’s behaviour. Thus, overall it can be said that the results of this study are in alignment with the previous researches.

An Empirical Research of Impact of the Merger of Pan-European and Oslo Stock Exchanges on the Efficiency of Tobacco Securities Market

2021 ◽  
Vol 7 (4) ◽  
pp. 568-587
Author(s):  
Dongpeng Xu ◽  
Deqin Lin ◽  
Dan Zhang
Keyword(s):  
Market Efficiency ◽  
Stock Exchange ◽  
Explanatory Power ◽  
Secondary Market ◽  
Securities Market ◽  
Stock Exchanges ◽  
Market Returns ◽  
Market Theory ◽  
Efficient Market Theory ◽  
The Impact

Objectives: Europe is one of the important markets for traditional tobacco. We analyzed the impact of exchange consolidation on securities market efficiency, so as to enable tobacco enterprises to improve the financing efficiency of the stock market and carry out transformation and upgrading. Methods: In this work. We’re based on efficient market theory, the merger of Pan-European Stock Exchange and Oslo Stock Exchange, Norway in June 2019 is analyzed through empirical analysis. The logarithmic returns of 25 listed companies in the Oslo Stock Exchange OBX-25 index were analyzed using OLSN Chow and KPSS tests. Results: It is found that of 72% of securities, the explanatory power of market returns for securities returns is increased, which shows significant improvement in market efficiency. The merger of stock exchanges can indeed improve the market efficiency. In addition, through the KPSS test, it is found that the merger of stock exchanges can improve the market efficiency. As time goes by, however, the validity decreases. Conclusion: The improvement of the efficiency of the securities market will be conducive to the financing efficiency of listed tobacco companies in the secondary market, promote the transformation of enterprises, and contribute to the tobacco control and the health of the population in Europe.

Role of Financial Innovations in Proliferation of Economic Instability

2011 ◽  
pp. 56-64
Author(s):  
I. Strelets ◽  
M. Stolbov
Keyword(s):  
Financial Market ◽  
Business Processes ◽  
New Drugs ◽  
Social Progress ◽  
Economic Stability ◽  
Economic Issues ◽  
Financial Innovations ◽  
Financial Products ◽  
The Impact

The authors consider the impact of financial innovations on the macroeconomic situation. The increasing complexity of financial market instruments is the way to decrease its transparency and, consequently, the overall economic stability. The global crisis of 2008-2009 demonstrated the relevance of this problem. However, the authors believe that the nations can take advantage of new financial products, technologies and business processes if the regulators manage to fully track and timely offset the accompanying risks. It is important that execution of the financial innovations correspond with the structure of the funding companies and banks. It is concluded that adequate regulation of financial innovation will allow better use of their potential in order to address a number of important economic issues. In particular, it may help to accelerate the development and introduction of new drugs, to the implementation of environmental projects, the financing of social progress in the developing countries for achieving the Millennium Goals proclaimed by the UN in 2000.

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