This paper first estimates the overall return on capital in China between 1978 and 2013. It then identifies the determinants of return on capital by analyzing provincial panel data and breaks down the causes of swerve...This paper first estimates the overall return on capital in China between 1978 and 2013. It then identifies the determinants of return on capital by analyzing provincial panel data and breaks down the causes of swerves in capital return after the eruption of the global financial crisis in 2008. It finds that： （1） there is significant inertia in the return on capital,＂ （2） government intervention has significantly negative impact on capital return; （3） a significantly negative correlation is observed between investment rate and return on capital,＂ and （4） the increases in the shares of secondary and tertiary industries in the economy have significantly positive impact on return on capital. This paper concludes that the growth in investment rate and the expansion of government size are both important contributors to the recent decline in China＇s return on capital since the financial crisis.展开更多
Research in behavioral finance is comparatively less in India, when compared to other foreign countries. Globalization of financial markets has been increasing the retail investors＇ community over the past two decade...Research in behavioral finance is comparatively less in India, when compared to other foreign countries. Globalization of financial markets has been increasing the retail investors＇ community over the past two decades by providing a wide variety of market and investment options. However, it makes much more complex in their investment decisions process. This paper aims at identifying the factors influencing the retail investor＇s attitude. This paper develops a modified questionnaire. The average value of the five top highly influential factors according to the sample retail investors＇ were Investors＇ tolerance for risk, strength of the Indian economy, media focus on the stock market, political stability and finally government policy towards business. Four factors were given lowest priority or which had low influence on the attitude of the retail investors investing in equity stocks. Stories of successful investors was considered to be the lowest influencing factors among the four, get rich quick philosophy, information available on internet, cost cutting by companies.展开更多
The aim of this study is to examine the profitabilily of multi-finance companies. This study uses macroeconomic determinants and fundamental variables as factors that affected profitability. The samples of the study w...The aim of this study is to examine the profitabilily of multi-finance companies. This study uses macroeconomic determinants and fundamental variables as factors that affected profitability. The samples of the study was multifinance company in Indonesia over period 2005-2007. The study uses an unbalanced panel data as a methodology. The result suggests that, the ownership of financial assets doesn＇t significantly affect multi-finance performances. This result indicates that multi-finance face difficult situation to generate profit from the credit given. And the result also suggests that all macroeconomic determinants affect multi-finance profitability, with more concern on inflation that have negative significant.展开更多
基金the Natural Social Science Foundation of China research fund(Grant No.10zd&007)the Ministry of Education research fund(Grant No.12YJC790269)the Natural Science Foundation of China research fund(Grant No.71103212) for financial support
文摘This paper first estimates the overall return on capital in China between 1978 and 2013. It then identifies the determinants of return on capital by analyzing provincial panel data and breaks down the causes of swerves in capital return after the eruption of the global financial crisis in 2008. It finds that： （1） there is significant inertia in the return on capital,＂ （2） government intervention has significantly negative impact on capital return; （3） a significantly negative correlation is observed between investment rate and return on capital,＂ and （4） the increases in the shares of secondary and tertiary industries in the economy have significantly positive impact on return on capital. This paper concludes that the growth in investment rate and the expansion of government size are both important contributors to the recent decline in China＇s return on capital since the financial crisis.
文摘Research in behavioral finance is comparatively less in India, when compared to other foreign countries. Globalization of financial markets has been increasing the retail investors＇ community over the past two decades by providing a wide variety of market and investment options. However, it makes much more complex in their investment decisions process. This paper aims at identifying the factors influencing the retail investor＇s attitude. This paper develops a modified questionnaire. The average value of the five top highly influential factors according to the sample retail investors＇ were Investors＇ tolerance for risk, strength of the Indian economy, media focus on the stock market, political stability and finally government policy towards business. Four factors were given lowest priority or which had low influence on the attitude of the retail investors investing in equity stocks. Stories of successful investors was considered to be the lowest influencing factors among the four, get rich quick philosophy, information available on internet, cost cutting by companies.
文摘The aim of this study is to examine the profitabilily of multi-finance companies. This study uses macroeconomic determinants and fundamental variables as factors that affected profitability. The samples of the study was multifinance company in Indonesia over period 2005-2007. The study uses an unbalanced panel data as a methodology. The result suggests that, the ownership of financial assets doesn＇t significantly affect multi-finance performances. This result indicates that multi-finance face difficult situation to generate profit from the credit given. And the result also suggests that all macroeconomic determinants affect multi-finance profitability, with more concern on inflation that have negative significant.
