Fiscal Rules for Debt Sustainability in Emerging Markets: The Impact of Volatility and Default Risk

2006 ◽  
Author(s):  
Adrian Penalver ◽  
Gregory Thwaites
Keyword(s):  
Emerging Markets ◽  
Default Risk ◽  
Fiscal Rules ◽  
Debt Sustainability ◽  
The Impact

The Impact of Debt Sustainability and the Level of Debt on Emerging Markets Spreads

2013 ◽  
Vol 13 (93) ◽  
pp. 1 ◽  
Author(s):  
Nazim Belhocine ◽  
Salvatore Dell'Erba ◽  
◽  
Keyword(s):  
Emerging Markets ◽  
Debt Sustainability ◽  
The Impact

The Impact of Quantitative Easing on Emerging Markets – Literature Review

e-Finanse ◽  
2018 ◽  
Vol 14 (4) ◽  
pp. 67-76
Author(s):  
Piotr Bartkiewicz
Keyword(s):  
Emerging Markets ◽  
Large Scale ◽  
Empirical Literature ◽  
Quantitative Easing ◽  
Methodological Choices ◽  
The Subject ◽  
Methodological Approaches ◽  
The Impact ◽  
Sufficient Precision

AbstractThe article presents the results of the review of the empirical literature regarding the impact of quantitative easing (QE) on emerging markets (EMs). The subject is of interest to policymakers and researchers due to the increasingly larger role of EMs in the world economy and the large-scale capital flows occurring after 2009. The review is conducted in a systematic manner and takes into consideration different methodological choices, samples and measurement issues. The paper puts the summarized results in the context of transmission channels identified in the literature. There are few distinct methodological approaches present in the literature. While there is a consensus regarding the direction of the impact of QE on EMs, its size and durability have not yet been assessed with sufficient precision. In addition, there are clear gaps in the empirical findings, not least related to relative underrepresentation of the CEE region (in particular, Poland).

What Determines Fiscal Deficits in Europe? The Impact and Interaction of EMU Membership, Fiscal Rules, Fiscal Councils and Creative Accounting

2020 ◽  
Vol 71 (1) ◽  
pp. 15-41
Author(s):  
Dominik Maltritz ◽  
Sebastian Wüste
Keyword(s):  
Fiscal Rules ◽  
Special Focus ◽  
Annual Data ◽  
Budget Balance ◽  
Fiscal Deficits ◽  
Eu Countries ◽  
Creative Accounting ◽  
Stock Flow ◽  
The Impact

AbstractWe search for drivers of fiscal deficits in Europe using a data panel containing annual data of 27 EU countries in the years 1991–2012. Our special focus is on the influence of fiscal rules as well as on fiscal councils, i. e. institutions that may help to reduce deficits and enforce fiscal rules by advising governments. We distinguish between internal fiscal rules and external rules that result from EMU membership. In addition, we consider the impact of “creative accounting”, i. e. measures that help to circumvent fiscal rules, which we approximate by so called stock-flow-adjustments. We especially analyze the interactive influence of the mentioned variables on the budget balance.

SME export performance, capabilities and emerging markets: the impact of institutional voids

2017 ◽  
Vol 11 (2) ◽  
pp. 201 ◽  
Author(s):  
Yusaf H. Akbar ◽  
Bernardo Balboni ◽  
Guido Bortoluzzi ◽  
Andrea Tracogna
Keyword(s):  
Emerging Markets ◽  
Export Performance ◽  
Institutional Voids ◽  
The Impact

Mcdonald’s versus Vikram Bakshi

2021 ◽  
Vol 11 (4) ◽  
pp. 1-27
Author(s):  
Nitin Pangarkar ◽  
Neetu Yadav
Keyword(s):  
Emerging Markets ◽  
Multinational Corporations ◽  
Service Industry ◽  
Executive Development ◽  
Content Type ◽  
Academic Level ◽  
Quick Service ◽  
Term Performance ◽  
The Impact

Learning outcomes The case illustrates the challenges of managing JVs in emerging markets. specifically, after going through the case, students should be able to: i.Analyze the contexts in which firms need to form JVs and evaluate this need in the context of emerging markets such as India; ii.Understand how multinational corporations can achieve success in emerging markets, specifically the role of strategic (broader than the product) adaptation in success; iii.Evaluate the impact of conflict between partners on the short-term and long-term performance of a JV; and iv.Create alternatives, evaluate each alternative’s pros and cons, and recommend appropriate decisions to address the situation after a JV unravels and the organization is faced with quality and other challenges. Case overview/synopsis McDonald’s, the global giant in the quick service industry, entered India in 1993 and formed two JVs in 1995 one with Vikram Bakshi (Connaught Plaza Restaurants Ltd or CPRL) to own and operate stores in the northern and eastern zones, and another with Amit Jatia (Hardcastle Restaurants Private Limited or HRPL) to own and operate stores in the western and southern zones. Over the next 12 years, both the JVs made steady progress by opening new stores while also achieving better store-level metrics. Though CPRL was ahead of HRPL in terms of the number of stores and total revenues earned in 2008, the year marked the beginning of a long-running dispute between the two partners in CPRL, Bakshi and McDonald’s. Over the next 11 years, Bakshi and McDonald’s tried to block each other, filed court cases against each other and also exchanged recriminations in media. The feud hurt the performance of CPRL, which fell behind HRPL in terms of growth and other metrics. On May 9, 2019, the feuding partners reached an out-of-court settlement under which McDonald’s would buy out Bakshi’s shares in CPRL, thus making CPRL a subsidiary. Robert Hunghanfoo, who had been appointed head of CPRL after Bakshi’s exit, announced a temporary shutdown of McDonald’s stores to take stock of the current situation. He had to make a number of critical decisions that would impact the company’s performance in the long-term. Complexity academic level MBA, Executive MBA and executive development programs. Supplementary materials Teaching Notes are available for educators only. Subject code CSS 11: Strategy.

scholarly journals Does Banking Management Affect Credit Risk? Evidence from the Indian Banking System

2018 ◽  
Vol 6 (3) ◽  
pp. 67 ◽  
Author(s):  
Laxmi Koju ◽  
Ram Koju ◽  
Shouyang Wang
Keyword(s):  
Credit Risk ◽  
Default Risk ◽  
Banking System ◽  
Capital Requirements ◽  
Operating Efficiency ◽  
Investment Strategies ◽  
Empirical Results ◽  
Bank Managers ◽  
Credit Standards ◽  
The Impact

This study investigated the impact of banking management on credit risk using a sample of Indian commercial banks. The study employed dynamic panel estimations to evaluate the link between banking management variables and credit risk. The empirical results show that an increase in loan portion over total assets does not necessarily increase problem loans. The findings suggest that high capital requirements and large bank size do not reduce default risk, whereas high profitability and strong income diversification policies lower the likelihood of default risk. The overall empirical results supported the “operating efficiency”, “diversification” and “too big to fail” hypotheses, confirming that credit quality in the banking industry is mainly driven by profitability, banking supervision, high credit standards and strong investment strategies. The findings are relevant to bank managers, investors and bank regulators, in formulating effective credit policies and investment strategies.

scholarly journals Evaluating the impact of corporate logos towards corporate reputation

2017 ◽  
Vol 20 (2) ◽  
pp. 158-180 ◽  
Author(s):  
Pantea Foroudi ◽  
Khalid Hafeez ◽  
Mohammad M. Foroudi
Keyword(s):  
Emerging Markets ◽  
Cultural Values ◽  
Attribution Theory ◽  
Corporate Reputation ◽  
Emerging Market ◽  
Corporate Image ◽  
Customer Relationship ◽  
Corporate Communications ◽  
Content Type ◽  
The Impact

Purpose This paper aims to examine the impact of corporate logos on corporate image and reputation in creating competitive advantage in the context of Persia and Mexico as emerging markets. The paper provides an extensive links between corporate logo and its dimension and internal stakeholders’ attitudes towards advertisement, familiarity and recognisability as intermediaries to corporate image and reputation. Design/methodology/approach A qualitative exploratory approach was undertaken, comprising 12 face-to-face interviews and 14 skype in-depth interviews with graphic designers, design, communication and marketing consultant in Mexico and Persia based on attribution theory. Findings The study posits that the more favorable the name, colour, typeface and design of the company logo, the more favorable the attitude Mexican consumers have towards the corporate logo, corporate image and reputation. However, in comparison for Persia these factors have less effect on customers’ judgment and behaviour, towards the corporate logo, corporate image and reputation. The research findings suggest that the selection of colour in a corporate logo is related to its marketing objectives, cultural values, desired customer relationship levels with the organisation and organisation’s corporate communications. Originality/value Corporate logo has received little attention in marketing literature and rarely researched in the context of emerging market. This is the first research of its kind to find the effect of the compound logo in emerging markets of Persia and Mexico. Therefore, this research makes significant contribution towards the corporate visual identity literature by developing of the sphere of influence of the corporate logo and its antecedents and consequences (corporate image and corporate reputation).

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