All Outputs (575)

Dividends, investment and pension contributions (2024)
Journal Article
Tucker, J., & Misirlioglu, I. U. (2024). Dividends, investment and pension contributions. International Journal of Banking, Accounting and Finance, 14(1), 1-27. https://doi.org/10.1504/IJBAAF.2024.137080

We study the determinants of pension contributions for UK listed companies to better understand how the contributions decision is placed within the wider operational and strategic framework of the company. We model the potential displacement effect o... Read More about Dividends, investment and pension contributions.

CORE Econ: A neoclassical synthesis for the twenty-first century? (2023)
Journal Article
Michell, J. (2023). CORE Econ: A neoclassical synthesis for the twenty-first century?. Advances in Economics Education, 2(2), 145–162

This paper provides a critical review of CORE Econ’s The Economy and associated materials. It argues that there is a need for reworked economics textbooks and that CORE Econ’s approach to this project – to replace mathematical abstractions with relev... Read More about CORE Econ: A neoclassical synthesis for the twenty-first century?.

What is heterodox economics? Insights from interviews with leading thinkers (2023)
Journal Article
Mearman, A., Berger, S., & Guizzo, D. (2023). What is heterodox economics? Insights from interviews with leading thinkers. Journal of Economic Issues, 57(4), 1119-1141

This article investigates heterodox economics, drawing on data from interviews we conducted with leading economists, using thematic analysis to identify three core concerns of our respondents: realism, power, and pluralism. Heterodox economists appea... Read More about What is heterodox economics? Insights from interviews with leading thinkers.

Macroeconomic policy at the end of the age of abundance (2023)
Journal Article
Michell, J. (2023). Macroeconomic policy at the end of the age of abundance. European Journal of Economics and Economic Policies: Intervention, 20(2), 369-387. https://doi.org/10.4337/ejeep.2023.0122

Progressive policy proposals influenced by post-Keynesian economics emphasise the use of fiscal policy and income redistribution to maintain aggregate demand at levels which achieve full employment. Given persistent evidence of weak demand, excess ca... Read More about Macroeconomic policy at the end of the age of abundance.

Dollar liquidity, financial vulnerability and monetary sovereignty (2023)
Journal Article
Jump, R. C., & Michell, J. (2023). Dollar liquidity, financial vulnerability and monetary sovereignty. Development and Change, 55(5), 1087-1113. https://doi.org/10.1111/dech.12799

Periods of dollar-led global monetary tightening generate negative effects in many lower- and middle-income countries. The tightening cycle which commenced in early 2022 has exacerbated the financial dislocation experienced by countries including Zam... Read More about Dollar liquidity, financial vulnerability and monetary sovereignty.

The perils of pre-filling: Lessons from the UK's Annual Survey of Hours and Earning microdata (2023)
Journal Article
Whittard, D., Ritchie, F., Phan, V., Bryson, A., Forth, J., Stokes, L., & Singleton, C. (2023). The perils of pre-filling: Lessons from the UK's Annual Survey of Hours and Earning microdata. Statistical Journal of the IAOS, 39(3), 661-677. https://doi.org/10.3233/SJI-230013

The role of the National Statistical Institution (NSI) is changing, with many now making microdata available to researchers through secure research environments This provides NSIs with an opportunity to benefit from the methodological input from rese... Read More about The perils of pre-filling: Lessons from the UK's Annual Survey of Hours and Earning microdata.

Network effects and store-of-value features in the cryptocurrency market (2023)
Journal Article
Bakhtiar, T., Luo, X., & Adelopo, I. (2023). Network effects and store-of-value features in the cryptocurrency market. Technology in Society, 74, Article 102320. https://doi.org/10.1016/j.techsoc.2023.102320

It is important to determine the network effects and store-of-value feature of cryptocurrencies due to the argument that it could be considered as a new ‘asset class’. Current studies on cryptocurrencies' network effects mainly focused on using Metca... Read More about Network effects and store-of-value features in the cryptocurrency market.

Behavioural biases and credit card repayments among Malaysians (2023)
Journal Article
Sahul Hamid, F., & Md Harizan, S. H. (2023). Behavioural biases and credit card repayments among Malaysians. International Journal of Banking and Finance, 18(2), 53-78. https://doi.org/10.32890/ijbf2023.18.2.3

Analyses done using the survey response of 451 credit cardholders in the northern region of West Malaysia have shown that credit cardholder repayment pattern differed based on their demographic profile. Specifically, the study found that credit cardh... Read More about Behavioural biases and credit card repayments among Malaysians.

Overcoming optimism (and moving toward hope) (2023)
Journal Article
Wrenn, M. V. (2023). Overcoming optimism (and moving toward hope). Journal of Economic Issues, 57(2), 376-388. https://doi.org/10.1080/00213624.2023.2188869

U.S. optimism, the belief in anyone’s ability to overcome any obstacle, any oppression, is part of the country’s social DNA. U.S.-Americans are heavily socialized and profoundly, culturally attached to ideas of reinvention and redemption, of hard wor... Read More about Overcoming optimism (and moving toward hope).

The perfect bail-in: Financing without banks using peer-to-peer lending (2023)
Journal Article
Polyzos, E., Samitas, A., & Rubbaniy, G. (in press). The perfect bail-in: Financing without banks using peer-to-peer lending. International Journal of Finance and Economics, https://doi.org/10.1002/ijfe.2838

We explore the potential outcomes for financial stability when using peer-to-peer lenders to finance economic activity. Combining Random Regression Forests, a machine-learning process, with an agent-based model, we perform simulations on artificial e... Read More about The perfect bail-in: Financing without banks using peer-to-peer lending.

Time-varying price dynamics of clean and dirty energy portfolios (2023)
Journal Article
Ah Mand, A., Ghafoor, A., & Sifat, I. (2023). Time-varying price dynamics of clean and dirty energy portfolios. Journal of Environmental Management, 337, 117687. https://doi.org/10.1016/j.jenvman.2023.117687

This paper investigates the dynamic relationships between four key instruments related to clean and dirty energy assets: WTI futures, United States Oil Fund (USO), EnergySelect Sector SPDR Fund (XLE), and iShares Global Clean Energy ETF (ICLN). Econo... Read More about Time-varying price dynamics of clean and dirty energy portfolios.

Determinants of financial resilience: Insights from an emerging economy (2023)
Journal Article
Hamid, F. S., Loke, Y. J., & Chin, P. N. (2023). Determinants of financial resilience: Insights from an emerging economy. Journal of Social and Economic Development, 25(2), 479-499. https://doi.org/10.1007/s40847-023-00239-y

The Organisation for Economic Co-operation and Development Financial Literacy Survey of 2018 response is used to study the impact of financial knowledge, financial inclusion, and socio-demographic characteristics on financial resilience. The measurem... Read More about Determinants of financial resilience: Insights from an emerging economy.

UK pension funds’ patience and liquidity in the age of market-based finance (2023)
Journal Article
Bonizzi, B., Churchill, J., & Kaltenbrunner, A. (2023). UK pension funds’ patience and liquidity in the age of market-based finance. New Political Economy, 28(5), 780-798. https://doi.org/10.1080/13563467.2023.2184469

Pension funds have often failed to meet expectations in terms of providing ‘patient capital’. Explanations for this lapse have ranged over regulatory and ideational factors. We argue that a new ‘impatient’ phenomenon is emerging that requires further... Read More about UK pension funds’ patience and liquidity in the age of market-based finance.

Chinese interprovincial income disparity via regional mobility dynamics (2023)
Journal Article
Kumari, A., & Smith, I. (2023). Chinese interprovincial income disparity via regional mobility dynamics. Journal of Economic Issues, 57(1), 36-61. https://doi.org/10.1080/00213624.2023.2154536

The growth paths in China diverge widely between the rich coastal and poor inland provinces. As a result, the impact of institutional effects on reducing provincial disparity in terms of the “Go West” policies implemented in the early-2000s appears t... Read More about Chinese interprovincial income disparity via regional mobility dynamics.

Does the emerging middle class support democracy? A comparative analysis of China, countries with authoritarian political regimes and recent post-socialist democracies (2023)
Journal Article
Ivlevs, A. (2023). Does the emerging middle class support democracy? A comparative analysis of China, countries with authoritarian political regimes and recent post-socialist democracies. Journal of Economic Issues, 57(1), 62-79. https://doi.org/10.1080/00213624.2023.2154537

Does the emerging middle class support democracy? This study provides a comparative analysis of political attitudes, actions, and preferences of the middle class in China, other countries characterized by authoritarian political regimes/tendencies (R... Read More about Does the emerging middle class support democracy? A comparative analysis of China, countries with authoritarian political regimes and recent post-socialist democracies.

Institutional supercycles: An evolutionary macro-finance approach (2023)
Journal Article
Dafermos, Y., Gabor, D., & Michell, J. (2023). Institutional supercycles: An evolutionary macro-finance approach. New Political Economy, 28(5), 693-712. https://doi.org/10.1080/13563467.2022.2161497

We build upon the Minskyan concepts of ‘thwarting mechanisms’ and ‘supercycles’ to develop a framework for analysing the dynamic evolutionary interactions between macrofinancial, institutional and political processes. Thwarting mechanisms are institu... Read More about Institutional supercycles: An evolutionary macro-finance approach.

Oil and US stock market shocks: Implications for Canadian equities (2023)
Journal Article
Heinlein, R., & Mahadeo, S. (2023). Oil and US stock market shocks: Implications for Canadian equities. Canadian Journal of Economics / Revue Canadienne d'Économique, 56(1), 247-287. https://doi.org/10.1111/caje.12641

Oil and US stock market shocks are relevant to Canadian equities because Canada is an oil exporter exposed to market developments in the wider continent. We evaluate how the relationship between Canadian stock market indices and such external shocks... Read More about Oil and US stock market shocks: Implications for Canadian equities.

A conditional higher-moment CAPM (2023)
Journal Article
Vendrame, V., Guermat, C., & Tucker, J. (2023). A conditional higher-moment CAPM. International Review of Financial Analysis, 86, 102524. https://doi.org/10.1016/j.irfa.2023.102524

This paper investigates whether dynamic and moment extensions to the traditional CAPM can improve its empirical performance and offer some alternative explanation to the cross-section of average returns on portfolios of stocks double sorted on book-t... Read More about A conditional higher-moment CAPM.

Managerial compensation and firm performance: The moderating role of managerial ownership and other governance factors (2023)
Journal Article
Adelopo, I., Adu‐Ameyaw, E., Cheung, K. Y., & Bako, H. S. (2023). Managerial compensation and firm performance: The moderating role of managerial ownership and other governance factors. Journal of Corporate Accounting and Finance, 34(3), 31-46. https://doi.org/10.1002/jcaf.22609

This study looks at how executive compensation affects firm value and the extent to which this relationship is sensitive to managerial ownership and corporate governance factors. We use data from UK FTSE 100 firms for the period 2007–2012, generating... Read More about Managerial compensation and firm performance: The moderating role of managerial ownership and other governance factors.

Cash holdings and corporate investment: Evidence from COVID-19 (2022)
Journal Article
Tawiah, B., & Keefe, M. (in press). Cash holdings and corporate investment: Evidence from COVID-19. Review of Corporate Finance, https://doi.org/10.2139/ssrn.3712767

Firms hold cash for precautionary reasons. The COVID-19 pandemic plausibly represents an exogenous shock for which firms hold cash. We examine the impact of cash holdings on corporate investment during the COVID-19 pandemic. We find that Capital Expe... Read More about Cash holdings and corporate investment: Evidence from COVID-19.