Christopher Gan

• Lincoln University

Countries are confronting climate change using climate-related regulations that require firms and investors to disclose their green strategies and activities. Using the Meta-Analysis Structural Equation Modeling (MASEM) technique, this study evaluates the relationship between climate-related regulations and financial markets. The meta-regression an...

Purpose Focusing on micro-level indicators, we investigate financial inclusion levels in rural China, examining its determinants and impact on household welfare. We construct a financial inclusion index of four essential financial services: savings, digital payments, credit and insurance. We identify factors influencing financial inclusion among Ch...

The Exposure Draft for Proposed International Standard on Sustainability Assurance (ISSA) 5000 has been issued by the International Auditing and Assurance Standards Board (IAASB) because there is increasing demand by stakeholders for assurance of sustainability information. Our recommendations include: (i) a more flexible approach to ethics and qua...

Motivated by growing stakeholder demands for environmental, social and governance (ESG) disclosures and enhanced information transparency, this study investigates the relationship between ESG disclosures and future earnings risk in a globally diverse sample of firms. Using fixed‐effects panel regression models and endogeneity controls, we show that...

Corporate resolution on environmental, social, and governance (ESG) communication informs firms' environmental commitment, a growing determinant of corporate risk profile perceived by the market. This study examines ESG reporting in the presence of board co-option, a phenomenon that paralyzes the dependency of the board of directors and impairs cor...

Purpose This study aims to examine the relationship between bank capital and bank risk during COVID-19. Design/methodology/approach The study covers 20 countries during the period from Q4:2018 to Q4:2020, using different measurements of risk with consideration for the interrelationship between bank risk and bank capital and the impact of COVID-19....

Purpose This study aims to thoroughly examine and understand the relationship between working capital management (WCM) and the sustainable financial performance (FP) in the context of the New Zealand companies listed on stock exchange. Design/methodology/approach This study has applied various regression techniques to examine WCM and the sustainab...

Purpose The paper aims to investigate the empirical impact of working capital management (WCM) on firm performance (FP) in the emerging markets of Africa. This paper also aims to investigate this relationship during the global financial crisis of 2008 (GFC, 2008). Design/methodology/approach The sample of this study comprises two leading emerging...

Socially responsible investment (SRI) considers social, ethical, and environmental elements of investment strategies. SRIs are now well established, offering a variety of products to investors. Sustainable investments are popular among institutional investors as well as retail investors. Most companies have incorporated sustainable practices and su...

Firm performance is affected by extreme events including war and pandemic. In 2020, the COVID-19 pandemic weakened the performance of stock markets worldwide. Two years later, on 24 February 2022, the Russia-Ukraine war started and took a toll on the world economy, pushed up inflation, and increased the risk of severe adverse outcomes. There is a g...

Climate change and environment-related problems are major concerns globally. Stakeholders including governments, corporates, investors, and customers, play different roles in building a sustainable world. Their tasks are challenging because of limited financial resources. To finance activities that benefit the environment and minimise the severe im...

Genetically modified (GM) food products have been commercialized and promoted in China. Despite assurances from the China Ministry of Agriculture that certified GM food products are safe to consume, most consumers are reluctant to purchase GM foods. Given the benefits of GM foods, this study investigates Chinese consumers’ purchase intentions and p...

Purpose This study explores the awareness (AWN) levels of good governance amongst Thai credit union cooperatives' (CUCs) members and the factors hindering good governance practice in Thai CUCs. Design/methodology/approach This study used a survey questionnaire from 629 members of 36 selected CUCs in Thailand. This study analysed the determinants o...

We examine the effect of a chief executive officer (CEO)'s expertise power on bank diversification. Using US bank data from 1990 to 2020, we find that a CEO's expertise power is positively associated with bank diversification. Market competition and board composition (size and independence) positively affect this relationship. We also find that CEO...

We investigate the impacts of global, regional, and pandemic uncertainties on firm performance in the Asia-Pacific region. Using the fixed effects panel-data analysis for 5979 non-financial listed firms in five developed Asia-Pacific countries (Singapore, Hong Kong, South Korea, Japan, and Australia) from 2007 to 2021, the results show that world,...

This paper investigates the price stability properties of precious metals during the 1997 Asian Financial Crisis, 2007–2008 Global Financial Crisis, and 2010 Eurozone Crisis. To analyse the interaction between precious metal prices and the US stock market stock performances, we use the ICSS algorithm along with the GARCH model to evaluate how the n...

This study investigates the relationship between inward foreign direct investment inflows and governance of the United States, China, and Singapore. The study employs governance indicators including control of corruption, government effectiveness, regulatory quality, political stability and the absence of violence, rule of law, voice, and accountab...

This paper investigates the nature of volatility spillovers between stock returns and hedge funds returns in twelve Asia Pacific countries in the 1997–2018 period. The sample period encompasses sub periods, 1997 Asia financial crisis, 2008 Global financial crisis and 2010 Eurozone crisis; these sub periods were characterised by financial upheavals....

Purpose The purpose of this study is to investigate the relationships among financial reporting quality (FRQ), ownership concentration and investment efficiency (IE) of listed firms in Vietnam, an emerging market in Southeast Asia. Design/methodology/approach Multivariate regression models are estimated to test the impacts of FRQ, ownership concen...

Credit union cooperatives (CUCs) are member‐owned financial organisations that aim to improve the members’ living standards in Thailand. The success of Thailand CUCs is significantly associated with their good governance practices. This study provides an overview of Thailand CUCs’ governance practices and examines the impact of governance on the pe...

We estimate and compare the impact of the coronavirus pandemic (COVID-19) on the performance of Artificial Intelligence (AI) and conventional listed firms using stock market indices. The single-group and multiple-group Interrupted Time-Series Analyses (ITSA) with panel data were used with four interventions: when the news of COVID-19 spread and the...

Microfinance programs play a vital role in poverty alleviation in developing countries; however, most microfinance institutions (MFIs) face the challenge of maintaining financial sustainability. While several studies have investigated factors affecting MFI financial sustainability, only a few focus on MFIs in Thailand. This paper uses the random ef...

This chapter explores government responses to rebuild their economies post COVID-19. First, the chapter briefly reviews the background of the virus outbreak and its consequences that led to unprecedented actions of governments. Second, the chapter analyses the government responses to the COVID-19 pandemic to overcome the health–social–economic cris...

Vietnamese farm households have been suffering to a large extent from credit rationing that potentially impairs agricultural performance. Using primary data from a farm household survey in the Red River Delta region, we investigate the factors affecting agricultural credit rationing in Vietnam’s formal, semi-formal, and informal credit markets and...

During the COVID-19 pandemic lockdown, the number of people shopping online has increased worldwide, and New Zealand is no exception. To date, little is known about the online shopping behaviours of New Zealanders in a pandemic environment. This paper provides the first attempt by exploring the factors affecting online shopping frequency in New Zea...

Purpose This study explores the impacts of COVID-19's strictest lockdown on Vietnamese citizens' living habits, wellbeing and work-from-home effectiveness. Design/methodology/approach The study uses a survey questionnaire to gather relevant data from Vietnamese adults during the most recent, strictest lockdown in their cities/provinces since July...

This study investigated the linkages between foreign direct investment (FDI) and financial development measured by banks and stock markets in 30 Asian developing countries from 1986 to 2019. We used a bivariate model with Granger causality tests to test the reverse causality between FDI and financial development and multivariate models with the sys...

The relationship between executive compensation and firm performance is well documented in the existing literature. However, in the case of Asia Pacific firms, the least attention is paid while investigating this relationship. This study examines the relationship between executive compensation and firm performance in the Asia Pacific firms througho...

Research Question/Issue Motivated by the recent regulatory reforms, in the forms of the UK Corporate Governance Code (UK CGC) in 2011 and the enaction of section 414C of the Companies Act 2006, to increase female representation on corporate boards, this study investigates the effect of boardroom gender diversity (BGD) on investment inefficiency (IE...

This study investigates the livelihood vulnerability to climate change of farm households in Northeast Vietnam. Data for the study is based on a survey with 534 farm households in the study site. The livelihood vulnerability index was used to measure the household vulnerability to natural hazards and climate variability. The results show that the l...

This study investigates the livelihood vulnerability to climate change of farm households in Northeast Vietnam. Data for the study is based on a survey with 534 farm households in the study site. The livelihood vulnerability index was used to measure the household vulnerability to natural hazards and climate variability. The results show that the l...

Purpose The study aims to investigate the profitability and marketability efficiency scores and determinants of 899 listed manufacturers in six Southeast Asian countries: Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Design/methodology/approach The study employs the bootstrap two-stage data envelopment analysis (DEA) to me...

This study investigates farmers’ perception of and adaptation to climate change in Thai Nguyen province in the Northeast region of Vietnam. Using a structured survey questionnaire, personal interviews were conducted with 534 farmers in the study province. A multivariate probit model was utilized to examine factors affecting farmers’ choices of adap...

As an important area in terms of biodiversity and fish stocks in Vietnam, Cu Lao Cham or Cham Islands (CLC) marine protected area (MPA) is under increasing threat from human activities. Conservation efforts have recently been implemented but economic analysis of the CLC MPA’s natural values did not investigate what may affect policy decisions on CL...

Thailand has experienced severe air-quality problems for the past 10 years. Complicating this situation, the Thai government allocates an insufficient budget for the management of air pollution. Using the contingent valuation method, this paper estimates the willingness to pay for air-quality improvement in Thailand to reveal the benefits that peop...

This is the first study to use the self-organisation (Kohonen) map technique, an artificial neural network based on a non-supervised learning algorithm, to categorise Vietnamese banks into super-class groups. Drawing on unbalanced yearly data from 2008 to 2017, this study identifies two super-class groups (one and two). While group one consists of...

This research explores the holistic experience in halal tourism and its consequence on tourist satisfactions and tourist intentions. The data for this study were obtained from 479 Muslim tourists in Indonesia. Exploratory factor analysis test identifies five dimensions of holistic halal tourist experiences, which can be classified into halal experi...

In Vietnam, poverty is prevalent and extremely severe among rural ethnic minorities (REM). Despite a number of studies on characteristics of poverty, very few studies comprehensively examine the determinants of poverty intensity. This study employs binary and fractional logit models to investigate the determinants of poverty and the poverty intensi...

Purpose This study investigates the Chinese stocks' returns during different epidemic periods to assess their effects on firms' market performance. Design/methodology/approach The study employs an event study method on more than 3,000 firms listed on Shanghai and Shenzhen stock exchanges during periods of SARS, H5N1, H7N9 and COVID-19 Findings Ep...

The least effective working capital management and poor corporate governance resulted in the 2008 global financial crisis besides various other factors as highlighted by the prior studies. So far, the existing literature reveals that WCM and CG affect firm performance (FP) on an individual basis. However, the collective effect of working capital ma...

Purpose This study investigates the psychological impact of the COVID-19 lockdown on Vietnamese people and examines the factors affecting their psychological well-being during and after the lockdown period. Design/methodology/approach Based on the survey answers of 701 Vietnamese respondents, this study explores the psychological impact associated...

Agricultural Cooperatives (ACs) enable rural households to fight against poverty. ACs provide credit and non-credit support services to improve household welfare. However, the results of AC effects on household welfare are mixed. This study contributes to the growing literature by investigating the effects of AC credit and non-credit support servic...

This paper explores the impacts of health pandemics on foreign direct investment (FDI) using the new world pandemic uncertainty index (WPUI). We investigate the effects of pandemics, including COVID-19, on FDI based on a sample of 142 economies and sub-samples (incomes and regions) from 1996 to 2019. The two-step system Generalised Method of Moment...

This study estimates the profitability and marketability efficiencies’ scores and determinants of 114 Singapore listed manufacturing firms from 2007 to 2018 by adopting Bootstrapped two-stage Data Envelopment Analysis as well as one- and two-part Fractional regression models. The study reveals that the average marketability efficiency of Singapore...

Purpose - This study simultaneously explores the nexus among formal, semi-formal, and informal credit markets and farm households' credit demand determinants in Vietnam. Design/methodology/approach - This study uses a multi-stage stratified random sampling process for a survey of 648 smallholder farmers in the Red River Delta, Vietnam. The trivaria...

Internal migration patterns in China are characterised by rapid urbanisation and cross‐regional movement and more recently by the return of migrants to their native counties. This study investigates the drivers of migrants' permanent return and their likelihood of starting new businesses in their counties of origin. The results suggest that migrant...

Purpose The purpose of this paper is to analyze the impact of microfinance programs on the income and food expenditure of farm and nonfarm households in Thailand. Design/methodology/approach The study employs secondary data from the Thai Socioeconomic Survey (cross-sectional data from 2017 and panel data from 2012 to 2017). The cross-sectional dat...

This paper examines the impacts of the earnings and working capital on the dividend payout, using firms listed on the London Stock Exchange from 1991 to 2015. The results reveal that unadjusted earnings have a positive and significant impact on firms' dividend payout, whereas the dividend-adjusted earnings are insignificant in explaining firms' div...

"Research Aims: This study investigates the link between involvement in direct export activities and firm performance, with reference to small and medium-sized enterprises (SMEs) in Indonesia. Design/Methodology/Approach: The study employed primary data collected from questionnaires administered to 271 exporting SMEs in seven provinces in Jawa-Bali...

This paper provides evidence on the likelihood of formal finance usage among innovative small and medium enterprises (SMEs) operating in ASEAN countries. To this end, the SMEs are classified into four categories, namely non-innovators and product, process, and product-and-process innovator SMEs. Subsequently, a propensity score weighting (PSW) anal...

Purpose This study explores the effects of the COVID-19 outbreak and its following lockdown on daily stock returns in Vietnam, a fast-growing emerging market that successfully revived after the pandemic lockdown. Design/methodology/approach This study uses panel-data regression models to evaluate the influence of the daily increase in the number o...

This paper examines the empirical relationship between working capital management (WCM) and firm performance (FP) for Australasian publicly listed firms. Australia and New Zealand are attractive investment destinations due to their business friendly environments. The past two decades have seen increased academic attention in studies linking WCM and...

Purpose This study investigates the short-run and long-run impacts of agricultural credit on Vietnam's agricultural GDP over the period 2004:Q4–2016:Q4, with the incorporation of agricultural labor, public investment and rainfall as important determinants of agricultural GDP. Design/methodology/approach This study applies the indicator saturation...

Asynchronous trading hours between the markets of Exchange-Traded Funds (ETFs) and their benchmarks not only make it difficult to apply a full replication strategy but also make the creation/redemption process ineffective and consequently distress the performance of international ETFs. Despite the exponential growth of the ETF industry in general a...

This study investigates the relationship between access to microcredit and SMEs' performance. Using survey data on SME's owners/managers in Terengganu, Malaysia in 2016, the study investigates how access to microcredit affects SME sales and employment growth. Employing the Propensity Score Matching method (PSM), the study showed that SMEs with micr...

Purpose This study analyses climate change vulnerability and adaptation in a northern province in Vietnam from the gender perspective. Design/methodology/approach A survey questionnaire was used to collect data for the study. The Livelihood Vulnerability Index (LVI) was calculated for 134 female and 239 male-headed households. Descriptive statisti...

This study investigates the influences of companies’ cultural diversity on International Financial Reporting Standards (IFRS) adoption in Nigeria. The diverse response to IFRS adoption is a phenomenon that necessitates further investigation to understand the reasons some companies adopt IFRS while others do not. Previous studies have investigated p...

Microfinance institutions (MFIs) play an important role in enabling poor households to escape poverty. MFIs cannot help borrowers if their own performance is poor. This study evaluates financial performance of Village Funds (VFs) and Saving Groups for Production (SGPs) to determine how well the MFIs are performing financially and how to improve the...

Income inequality is a major problem in Thailand. A key determinant of income inequality in Thailand is the lack of financial access to financial institutions for low-income families. Microfinance institutions (MFIs) play an important role in enabling poor households to access financial resources at a reasonable cost. The purpose of this paper is t...

The existence of financial intermediaries is arguably an artifact of information asymmetry. Beyond simple financial transactions, financial intermediation provides a mechanism for information transmission, which can reduce the degree of information asymmetry and consequently increase market efficiency. During the process of information transmission...

Increasing society’s resilience to high-impact natural events requires coordinated research and new investments in observation and prediction. To enable all nations to benefit from these investments, scientific and technical advancements need to be more accessible and usable. The new research strategy of the World Meteorological Organization (WMO),...

Despite the dramatic increase in online motorcycle taxis (OMTs) in many developing countries, empirical studies on passenger satisfaction toward OMTs have been overlooked. This study proposes a model of OMT passenger satisfaction where service quality and perceived value are determinants and behavioral intentions are the consequences, compared acro...

Upgrading in global value chains (GVCs) is an important path for developing countries to move along to capture higher benefits. Several qualitative studies of GVCs have identified two main upgrading types: economic (product, process, functional, and inter-sectoral) and social upgrading. The upgrading concept is widespread in productive sectors such...

Purpose This study investigates the welfare impact of microfinance on rural households in Indonesia. Its finding will bridge the gap in the Indonesian microfinance literature. Design/methodology/approach The research was conducted by collecting primary data and administering a structured questionnaire to rural households in Bantul District, Yogyak...

This study examines the impact of cash crop cultivation on household income and migration decisions, using survey data collected from low-income regions in China. Given farmers decide themselves whether to cultivate cash crops, an endogenous treatment regression model that accounts for potential selection bias issue is used to analyze the data. The...

This study identifies determinants of customer loyalty to Islamic banking in Indonesia using a structural equation model (SEM) and confirmatory factor analysis (CFA). Data of 362 respondents from two cities of East Java Indonesia have been used to determine the factors of customer loyalty of state-owned and private Islamic bank. The findings sugges...

The benefits of trade liberalization are not shared equally among countries and enterprises across the globe. Small and Medium-sized Enterprises (SMEs) in developing countries are less able to participate in export markets than their larger counterparts, despite various export assistance provisions by their governments. This study aims to investiga...

Foreign direct investment distribution is unequal in terms of economic activities as well as among regions, provinces and cities within countries. Therefore, understanding reasons why foreign investors favour a location over others are necessary for policymakers, governments, and international investors. Although determinants of selecting investmen...

Purpose The purpose of this paper is to measure profitability and marketability efficiencies as well as examine the efficiencies’ determinants of listed manufacturing firms in Vietnam. Design/methodology/approach This study employs a bootstrap two-stage data envelopment analysis (DEA) approach to investigate the profitability and marketability eff...

This study examines the financing cost enterprises confront when seeking backing from venture capitalists (VC) in different institutional settings related to proxy voting rights. Using a sociological perspective, we have developed new indexes for proxy voting rights from 28 countries. Examining 2598 VC-backed financing deals over the period of 1997...

Abstract: The manufacturing sector plays an increasingly pivotal role in the development of Vietnam. In the context of economic integration, Vietnam manufacturing enterprises receive abundant investment and market-expansion opportunities that enhance their operating profits and market values. With the aim of supporting corporate managers to positio...

Thailand has been developing its economy based on national and social-development plans over the last six decades. These plans focus on economic growth by supporting the manufacturing industry in order to export products to other countries. As a result, the growth rate performance has been outstanding since the late 1950s. Moreover, the Thai econom...

Using data from the 2014 China Family Panel Studies survey (CFPS), we investigate the effects of financial planning ability and risk perception on household portfolio choice. Our findings show that households with greater financial planning ability are more likely to invest in financial markets and hold a larger proportion of risky financial assets...

The WMO convened the “Science Summit on Seamless Research for Weather, Climate, Water, and Environment” to guide the Commission for Atmospheric Sciences (CAS-17) on future scientific research needs and requirements. Whether on an urban or planetary scale, covering timescales of a few minutes or a few decades, the societal need for more accurate wea...

Purpose The purpose of this paper is to investigate factors that determine rural households’ access to finance provided by Islamic microfinance institutions (MFIs) in Indonesia. Design/methodology/approach A two-year panel data set with logistic regression is used to identify the determinants of access to finance by rural households. The study sam...

This study examines the relationship between economic policy uncertainty (EPU) and firm performance of the US-listed non-financial firms. Using four proxies of firm performance such as Return on Assets, Return on Equity, Net Profit Margin and Tobin’s Q, we find that the effect of EPU on firm performance is significant and negative on all four proxi...

The banking industry is an essential financial intermediary, thus the efficient operation of banks is vital for economic development and social welfare. However, the 2008 global financial crisis triggered a reconsideration of the banking systems, as well as the role of government intervention. The literature has paid little attention to the banking...

Capital regulation is a primary focus of regulators to maintain the stability and credibility of the financial system. However, whether banks increase capital and reduce the risk to respond to the capital regulation is uncertain. Examining this issue on Asian banks during the period between 2002 and 2016, this study finds that capital regulation ha...

Purpose This paper aims to provide a review of the existing literature available on working capital (WC) and working capital management (WCM). Design/methodology/approach A systematic literature review (SLR) methodology is used to review 187 articles selected from referred journals, books and international conferences for the period 1980-2017. Fi...

This paper investigates the effects of Investment Incentive Policies (IIP), Provincial Competitiveness Index (PCI) and sub-indices on attracting FDI at the provincial level in Vietnam from 2000 to 2015. IIP is constructed based on Vietnam regulations and laws related to three types of investment incentives including free land, income tax exemption,...

This article examines the impact of stock market liquidity on bank liquidity creation in Malaysia. Our results indicate that a stock market enhances the liquidity creation of banks both on and off the banks’ balance sheets when the market liquidity increases. Further analysis shows that the positive impact of stock market liquidity is evident on th...

This study investigates the effect of demographic factors on formal and informal borrowing households in rural Fujian Province. The study tests whether credit constraint affects rural farmers’ welfare in the studied region, using a probit regression and endogenous switching regression model to analyse data collected in 2017 from 960 farm households...

Purpose This paper aims to integrate and examine three loyalty routes (i.e. service quality, emotional attachment and religiosity) in developing customer loyalty towards Islamic banking. Design/methodology/approach Data were collected from 412 Islamic bank customers from Indonesia. Variance-based structural equation modelling was applied to eval...