Aleksandr Dmitrievich Dumnov, Lyudmila Ivanovna Khoruzhij, Anna Evgen'evna Kharitonova, Anna Vladimirovna Ukolova and Svetlana Aleksandrovna Skachkova

DOI: https://doi.org/10.6000/1929-7092.2019.08.31

Published: 04 July 2019

Abstract: Over the recent 25 years Russia has experienced economic transformations that significantly have changed the impact of business activities on the state, structure, quality and use of natural resources: an annual decrease in the sizes of agriculturally used areas, reduction of soil fertility, destruction of the amelioration system, etc. Certainly, all this affects the economy and makes it necessary to investigate these interrelated processes in the context of an ecological-economic system. The article presents a multilateral statistical analysis of the eco-economic system of Russia, offers recommendations for improvement of the indicator system, analytical methodologies as well as proposals for implementation of the international standards into Russian statistics. It is emphasized that the asset value accounting philosophy should be developed on the basis of the specific nature of Russian statistics with application of the international practices. The article offers to start developing the macroeconomic accounts from the municipal level and then to aggregate the information at the level of a region and the country.

Keywords: Eco-economic system, natural environment, agriculturally used areas, natural resource and economic accounting.

Download

Ruihui Pu and Pairote Pathranarakul

DOI: https://doi.org/10.6000/1929-7092.2019.08.33

Published: 08 July 2019

Abstract: Sharing economy has been widely described by scholars as diverse phases towards sustainable development concerning its concept, functions, and goals in recent studies. Historically, the concept of "new capitalism" has been aroused the widespread concerns by scholars when defining the concept of sharing behavior of idle resources back to the year 1961. Moreover, scholars considered further the theoretical perspectives of sharing economy from the year 1978 to 2005. And many scholars started conducting the empirical analysis with the impact of sharing economy on specific industries such as tourism, hotel, mobility and financing sectors by the year 2010. However, there were still only a few scholars studied the field of sustainable development of sharing economy particularly in the mobility sectors and potential implication addressed the implementation of governing policies regarding case of the Chinese government. This article is first to review the previous studies on overall development of sharing economy in current situation, conceptualizing and providing the new sustainable model of sharing economy (particularly in sharing Mobility), led to further address the sharing economy in which regarded such an innovative paradigm towards sustainable development concerning with reviews and empirical studies conducted by previous scholars. Significantly, this study provided significant references to the stakeholders (operators), consumers (users), and administering (Chinese government) the sharing platform such potential issue, bringing the government concerned. Theoretically, it also provides such a new research direction with the sustainable model of sharing economy and potential regulating issues for the future research.

Keywords: Sharing economy, Innovative paradigm, sustainable development, new capitalists, sustainable consumption, sharing behaviors, mobility services.

Download

Olalere Oluwaseyi Ebenezer, Md. Aminul Islam, Mohd Zukime Mat Junoh and Wan Sallha Yusoff

DOI: https://doi.org/10.6000/1929-7092.2019.08.32

Published: 04 July 2019

Abstract: The study explore the issues relating to credit growth, non-performing credit and bank solvency in the banking industry, recognizing that existing studies are largely sketchy in emerging and developing markets. Panel data estimation technique is employed in the study based on data extracted from 26 commercial banks in Nigeria and Malaysia over the period 2009 to 2017 making up to 234 observations. The results reveal that the NPLs for all banks is only explained by loan growth and inflation, NPLs for Nigerian banks is only explained by loan growth, leverage, efficiency, size and inflations while NPLs for Malaysian banks is only explained by leverage, efficiency, size, GDP and inflation. The bank solvency for all banks is only explained by NPLs, loan growth and leverage. The solvency for Nigerian banks is explained by NPLs, leverage and GDP while loan growth, size and inflation explained bank solvency for Malaysian banks. Firm value for all banks is explained by solvency, NPLs, leverage, efficiency, size and GDP, the value of firm for Nigerian banks is only explained by solvency, loan growth, leverage, efficiency and size. The firm value for Malaysian banks is only explained by solvency, loan growth, leverage, efficiency, size, GDP and inflation. It is observed that bank solvency play an important role in the firm value of commercial banks in the period of study. Hence, this paper contributes to the understanding of the dynamic role of abnormal loan growth and how it can enhance the volume of non-performing credit and suggest that further study can explore the interaction between abnormal loan growth and non-performing loans.

Keywords: Loan growth, non-performing loans, firm value, bank solvency, panel data analysis.

Download

Ahmad Y. Khasawneh

DOI: https://doi.org/10.6000/1929-7092.2019.08.34

Published: 06 August 2019

Abstract: Motivations: This research seeks to analyze the determinants of capital structure of the banking sector in Jordan taking into consideration bank business model (Islamic versus Commercial bank). The research also sheds light on the financial crises of 2007/2008 and its impact on the financing decision in the banking sector.

Novelty: Although the topic of capital structure’s determinants is well studied in non-financial firms, very few studies considered the financial firms, namely banks. Since the nature of operations and capital components for banks are totally different this research comes to fill the gap in the banking literature.

Methodology and Methods: The study uses multivariate regression techniques of panel data besides the parametric and non-parametric analysis. Three measurements of capital structure are considered: leverage ratio, long term debt ratio and short-term debt ratio, the explanatory variables are included in two sets, bank specific characteristics and economic characteristics.

Data and Empirical Analysis: Balanced panel data set was formed for 27 Jordanian banks during the period of 2003-2015. Empirically, the findings suggest a variation of capital structure determinants based on the variable of measurement. However, the analysis confirms that bank’s profitability and bank’s risk are major components of the capital structure decision regardless of its measurement variable. In addition to these two variables, liquidity, growth and taxes are important variable in the short-term debt financing, and retained earnings is important to the long-term financing. Empirically proven that Jordanian banks' capital structure decision is affected by the global financial crisis 2007/2008 and by bank type. Jordanian banks might differ in size, but this doesn't affect their policies toward the capital structure. The empirical results are consistent with the pecking order theory that profitable firms prefer to use more of their internal sources of funds rather than debt financing.

Policy Implications: Due to the importance of the capital structure decision for banks and non-banks firms and based on our finding, the policy makers in Jordan and may in other similar countries should pay attention to capital requirement regulations as the determinants of leverage among banks are different based on the business model whether commercial or Islamic.

Keywords: Banks Leverage, Financial Crises, Jordanian Banks, Islamic Versus Commercial banks, Parametric Analysis, Non – Parametric Analysis.

Download