Does the COVID-19 Pandemic Change Human Mobility Equally Worldwide? Cross-Country Cluster Analysis

The paper aims to identify groups of countries characterised by a similar human mobility reaction to COVID-19 and investigate whether the differences between distinguished clusters result from the stringency of government anti-COVID-19 policy or are linked to another macroeconomic factor. We study how COVID-19 affects human mobility patterns, employing daily data of 124 countries. The analysis is conducted for the first and second waves of the novel coronavirus pandemic separately. We group the countries into four clusters in terms of stringency level of government anti-COVID-19 policy and six mobility categories, using k-means clustering. Moreover, by applying the Kruskal–Wallis test and Wilcoxon rank-sum pairwise comparison test, we assess the existence of significant differences between the distinguished clusters. We confirm that the pandemic has caused significant human mobility changes. The study shows that a more stringent anti-COVID-19 policy is related to the greater decline in mobility. Moreover, we reveal that COVID-19-driven mobility changes are also triggered by other factors not related to the pandemic. We find the Human Development Index (HDI) and its components as driving factors of the magnitude of mobility changes during COVID-19. The greater human mobility reaction to COVID-19 refers to the country groups representing higher HDI levels.

Features of the investment valuation mechanism in the context of global economic uncertainty

The purpose of the study was to identify the most effective method of investment appraisal in the context of global economic uncertainty. The scientific novelty of the article lies in the fact that a macroeconomic factor of uncertainty is the global pandemic, but not the classic economic crisis. The practical significance of the study lies in the fact that the obtained recommendations and conclusions can be used by investors and analytical agencies when assessing the investment attractiveness of individual companies.

Effects of Non-Performing Loan on Financial Performance: A Hypothetical Evaluation on All Scheduled Banks in Bangladesh

The goal of this study is to determine the impact of non-performing loans (NPLs) on the financial performance of all Bangladeshi listed banks. To accomplish so, the study analyzed data from the previous twenty-three years, from 1997 to 2019 in order to find out the effects of non-performing loan ratio (NPLR), capital adequacy ratio (CAR), inflation (INF) and provision maintenance ratio (PMR) on the return on asset (ROA). Researchers have attempted to investigate the primary cause of NPLs and their implications while taking into account a number of bank-specific characteristics as well as macroeconomic factor. The annual reports from Bangladesh Bank are considered for collecting data that has been examined through OLS and VAT models, along with Test of Heteroscedasticity, Test of Normal Distribution and also Unit Root Test by using STATA 11 (statistical software). By analyzing the OLS regression, it has found that all independent variables i.e. NPLR, CAR, INF and PMR are statistically noteworthy to explain the dependent variable i.e. ROA. Keywords: Non-performing Loans, Capital Adequacy, Provision, Inflation, Financial Performance

Factors Affecting Total Risk in Banking Sector of Pakistan: Empirical Evidence from Panel Data Analysis

If a financial organization flops, it can impose an externality nationwide as a whole. Augmented globalization along with deregulation of financial organizations has not only given rise to competition, but it has also amplified the need for powerful policies to manage risk for the industry. Being cautious of elements which might direct to failure of banking organization support in future for evading losses by introducing preemptive initiatives to minimize damage caused by risk. This study analyzes the factors affecting total risk in banking sector of Pakistan using sample data from 2006 to 2013. The results revealed that the size of bank, financial leverage, liquidity, loan to asset ratio, growth in real GDP, supply of money and spread of interest rates all seem to be statistically significant with total risk faced by bank. However, the ratio of loan losses remained statistically insignificant. This study stresses the insertion of macroeconomic factor as a probable determining factor for total risk.

Capital Share Risk in International Asset Pricing

ZusammenfassungIn a seminal study, Lettau et al. (2019) demonstrate that a single macroeconomic factor can explain a wide range of equity and nonequity portfolio returns within the U.S. market. This factor, which is based on the growth in the capital share of aggregate income, is able to outperform, yet even subsume information in well-established factor models as for instance the Fama-French three factor model. The aim of this paper is to study whether the explanatory power of this factor maintains across international equity markets.

IS STOCK PRICES REFLECTED IN MARKET RATIOS?

<p>The most fascinating thing in stock market world is forecasting stock prices. Almost all players in stock market race to find the best method for forecast stock prices. After years of researching and practicing, we can divide all methods into two main methods, fundamental and technical analysis. Fundamental analysis based its forecasting method on macroeconomic factor, industry analysis, and company internal factors, while technical analysis based on studying financial accounting numbers and stock price trends in the past and present. This study will be focusing in the uses of technical analysing in forecasting stock prices.</p><p>There are many ways in technical analysis to forecast stock prices. Investors and analysts usually use stock price trends or financial ratios to do that. The latest is the most simple and powerful tools that almost everyone can use it, regardless to its limitations. When it comes to use financial ratios, there are a lot of contradicting results that make its users need to make a comparation between ratios and make a decision. </p><p>This paper try to use another solution to overcome those problem with using a composite indicators. The composite indicator will be compared with another market ratio to find out which method is the best on forecasting stock prices.</p><p>The result is composite indicator is the best method on forecasting stock prices compared with price to sales ratio, price to book value ratio, price to earnings per share ratio, and price to operating cash flow ratio.</p>

Determinan Peluang Kelayakan Pembiayaan Perusahaan Sektor Perdagangan Besar dan Eceran di Indeks Saham Syariah Indonesia

This study tries to assess the feasibility opportunities of the company’s financing and to detect early the company’s capability and willingness to pay their debts which is proxied by solvency ratios, and aims to predict factors that can affect the financing feasibility opportunities using independent variables. Some of the independent variables proposed respectively are Current Ratio (CR), Total Asset Turn Over (TATO), Sharia Compliance represented by Interest-based Debt to Total Asset Ratio, and inflation as a macroeconomic factor. The research model is quantitative with a research sample from 25 wholesale and retail trade sector companies listed in Indonesian Sharia Stock Index period 2013-2018. The results of this study conclude that Current Ratio (CR) and Interest-based Debt to Total Asset ratio (IDtTA) affect the company’s financing feasibility opportunities. Meanwhile, Total Asset Turn Over (TATO) and inflation do not affect on the company’s financing feasibility opportunities. The data analysis technique used Principal Component Analysis and logistic regression technique with a predictive accuracy rate of 85,33%.

INVESTIGATING THE ROLE OF ISSUING CORPORATE ISLAMIC BOND AND SELECTED DETERMINANTS ON FIRM'S PROFITABILITY

Purpose of the study: The purpose of this study is to investigate the effect of corporate Islamic bond issuance, internal and macroeconomic factors on firm's profitability. The internal factors involved potentially as determinants of profitability are leverage and firm size. Meanwhile, the macroeconomic factors are economic growth and the inflation rate. Methodology: The sample is taken from companies listed at Indonesia Stock Exchange (IDX) and selected from 24 companies. The sample is 21 companies whose data completely and issued the Islamic bond during the period 2012 until 2018. Moreover, the panel data regression was employed as an analytical tool to test the data. Main Findings: The results suggest that Islamic bond issuance and financial leverage have a negative influence on profitability, firm size has no significant influence on profitability, and economic growth and inflation rate have a positive influence on profitability. Applications of this study: A firm, as well as an investor, must consider the lower Islamic bond issuance and debt proportion. Besides, they should anticipate decreased economic growth and the inflation rate. Novelty/Originality of this study: This study observes evidence from Indonesia Stock Exchange (IDX) that develops the previous studies and adds references for further studies about Islamic bond issuance. Also, it combines Islamic fund source and firm-specific internal as well as macroeconomic factors (economic growth and inflation rate) macroeconomics factors insert what are the macroeconomic factor which affects the profitability of the business to give a clear picture of how the effect of all factors on profitability.

An Empirical Analysis of the Determinants of Employment Status in District Multan (Pakistan)

Employment is very cogent macroeconomic factor in economic decision making. People in the labor force take decisions to assume various employment statuses in their economic life. This study shows a pragmatic analysis of the factors that determine the employment status in district Multan, based on primary data set of 250 respondents collected through stratified sampling. Multiple Logit technique has been applied. The findings of the study have shown that a range of socio-economic and demographic factors are responsible to determine the employment status. The study is also furnished with some relevant policy implications.