scholarly journals Liquidity Mismatch Index and Bank Performance

2021 ◽  
Vol 12 (5) ◽  
pp. 277
Author(s):  
Godfrey Marozva
Keyword(s):  
South African ◽  
Portfolio Management ◽  
Market Liquidity ◽  
Management Theory ◽  
Bank Performance ◽  
Unit Of Analysis ◽  
Funding Liquidity ◽  
Empirical Issue ◽  
Liquidity Measures ◽  
The Relationship

The relationship between liquidity and bank performance in finance literature remains an unresolved empirical issue. The main objective of this article was to investigate the relationship between liquidity mismatch index (LMI) initially developed by Brunnermeier, Gorton and Krishnamurthy (2012) and further developed by Bai, Krishnamurthy, and Weymuller (2018) and South African bank performance empirically. Different from other prior studies, the study undertook to determine the relationship employing the liquidity measure that integrates both market liquidity and funding liquidity within a context of asset liability mismatches. The unit of analysis was a panel of 12 South African banks over the period 2008–2018. Specifically, two liquidity measures – the bank liquidity mismatch index (BLMI) and the aggregate liquidity mismatch index (ALMI) were regressed against bank performance matrices. The newly developed liquidity measures are based on portfolio management theory and they account for the significance of liquidity spirals. Results revealed that, bank performance is negatively and significantly related with BLMI. While the bank performance is positively related to ALMI, the relationship is not significant. Also, the nature of relationship is dependent on the measure of profitability employed.

scholarly journals From funding liquidity to market liquidity: Evidence from the index options market

2020 ◽  
Author(s):  
Cheng Zhang ◽  
Chunbo Liu ◽  
Zhiping Zhou
Keyword(s):  
Positive Relationship ◽  
Equity Market ◽  
Market Liquidity ◽  
Options Market ◽  
Market Uncertainty ◽  
Short Term ◽  
Index Options ◽  
Funding Liquidity ◽  
Daily Data ◽  
The Relationship

This study examines the relationship between funding liquidity and market liquidity using daily data on the S&P 500 index options. We find that options market liquidity is positively correlated with funding liquidity after controlling for market uncertainty. Further analysis reveals that the positive relationship between funding liquidity and market liquidity in the options market is mainly driven by short‐term and deep out‐of‐the‐money options. Our results remain robust after controlling for the confounding effects of the equity market and different data frequencies.

scholarly journals From funding liquidity to market liquidity: Evidence from the index options market

2020 ◽  
Author(s):  
Cheng Zhang ◽  
Chunbo Liu ◽  
Zhiping Zhou
Keyword(s):  
Positive Relationship ◽  
Equity Market ◽  
Market Liquidity ◽  
Options Market ◽  
Market Uncertainty ◽  
Short Term ◽  
Index Options ◽  
Funding Liquidity ◽  
Daily Data ◽  
The Relationship

This study examines the relationship between funding liquidity and market liquidity using daily data on the S&P 500 index options. We find that options market liquidity is positively correlated with funding liquidity after controlling for market uncertainty. Further analysis reveals that the positive relationship between funding liquidity and market liquidity in the options market is mainly driven by short‐term and deep out‐of‐the‐money options. Our results remain robust after controlling for the confounding effects of the equity market and different data frequencies.

scholarly journals Liquidity Risk and Investors’ Mood: Linking the Financial Market Liquidity to Sentiment Analysis through Twitter in the S&P500 Index

2019 ◽  
Vol 11 (24) ◽  
pp. 7048 ◽  
Author(s):  
Francisco Guijarro ◽  
Ismael Moya-Clemente ◽  
Jawad Saleemi
Keyword(s):  
Financial Markets ◽  
Sentiment Analysis ◽  
Financial Market ◽  
Market Liquidity ◽  
Trading Costs ◽  
Financial Decisions ◽  
Area Of Interest ◽  
Liquidity Measures ◽  
The Impact ◽  
The Relationship

Microblogging services can enrich the information investors use to make financial decisions on the stock markets. As liquidity has immediate consequences for a trader’s movements, this risk is an attractive area of interest for both academics and those who participate in the financial markets. This paper focuses on market liquidity and studies the impact on liquidity and trading costs of the popular Twitter microblogging service. Sentiment analysis extracted from Twitter and different popular liquidity measures were gathered to analyze the relationship between liquidity and investors’ opinions. The results, based on the analysis of the S&P 500 Index, found that the investors’ mood had little influence on the spread of the index.

scholarly journals Liquidity And Bank Performance

2015 ◽  
Vol 14 (3) ◽  
pp. 453 ◽  
Author(s):  
Godfrey Marozva
Keyword(s):  
Liquidity Risk ◽  
Ordinary Least Squares ◽  
Market Liquidity ◽  
Bank Performance ◽  
Funding Liquidity ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Net Interest Margin ◽  
Short Run ◽  
Interest Margin

This article is based on empirical research on the relationship between liquidity and bank performance for South African banks for the period between 1998 and 2014. The study employed the Autoregressive Distributed Lag (ARDL)-bound testing approach and the Ordinary Least Squares (OLS) to examine the nexus between net interest margin and liquidity. Liquidity in this article is viewed in the context of the market liquidity risk and funding liquidity risk. The study observes that there is a negative significant deterministic relationship between net interest margin and funding liquidity risk. However, there is an insignificant co-integrating relationship between net interest margin and the two measures of liquidity. Based on this research it is recommended that further research should be conducted to investigate liquidity in the context of asset- liability mismatches. Financial institutions also should realise that liquidity is a short-run phenomenon that has to be analysed as such.

Co-creating the Psychological “White Picket Fence”: Three Gay Couples’ Relationship Reconfiguration

2020 ◽  
Vol 8 (2) ◽  
Author(s):  
Prevan Moodley ◽  
Francois Rabie
Keyword(s):  
Grounded Theory ◽  
South African ◽  
Gay Couples ◽  
Core Category ◽  
Picket Fence ◽  
Open Relationship ◽  
The Individual ◽  
The Relationship ◽  
Porous Boundaries

Many gay couples engage in nonmonogamous relationships. Ideas about nonmonogamy have historically been theorised as individual pathology and indicating relational distress. Unlike mixed-sex couples, boundaries for gay couples are often not determined by sexual exclusivity. These relationships are built along a continuum of open and closed, and sexual exclusivity agreements are not restricted to binaries, thus requiring innovation and re-evaluation. Three white South African gay couples were each jointly interviewed about their open relationship, specifically about how this is negotiated. In contrast to research that uses the individual to investigate this topic, this study recruited dyads. The couples recalled the initial endorsement of heteronormative romantic constructions, after which they shifted to psychological restructuring. The dyad, domesticated through the stock image of a white picket fence, moved to a renewed arrangement, protected by “rules” and imperatives. Abbreviated grounded theory strategies led to a core category, “co-creating porous boundaries”, and two themes. First, the couple jointly made heteronormative ideals porous and, second, they reconfigured the relationship through dyadic protection. The overall relationship ideology associated with the white picket fence remained intact despite the micro-innovations through which the original heteronormative patterning was reconfigured.

A contingency perspective on learning and instruction in physical education

2021 ◽  
pp. 1356336X2098588
Author(s):  
Jonas Wibowo ◽  
Ben Dyson
Keyword(s):  
Physical Education ◽  
Learning Processes ◽  
Methodological Issues ◽  
Unit Of Analysis ◽  
Contingency Perspective ◽  
Two Factors ◽  
The Individual ◽  
Teaching Learning ◽  
The Relationship ◽  
Learning And Instruction

In this article, we focus on the contingency between learning and instruction in physical education (PE). We argue that the complex interconnectedness of teachers’ instruction and students’ learning processes should be studied using a unit of analysis that expresses the relationship between the two factors. A contingency perspective foregrounds the individual differences between different learners and how a teacher regards these differences. Furthermore, it has the potential to provide a precise lens for empirical research on how the students’ situations shape the evolution of the teaching--learning process. Based on scaffolding research and adaptive teaching research, which draws on socio-constructivist foundations, we call this unit of analysis ‘contingency’. We outline a framework of research that suggests depicting contingency dimensions, respective instructional continua, and contingency rules when investigating contingency in PE. Furthermore, autonomy as a core contingency dimension for PE and methodological issues will be discussed.

Sign in / Sign up

Export Citation Format

Share Document