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Purpose: The importance of financial dependence of small and medium enterprises (SMEs) on their performance is a relatively unaddressed area of research. Relatedly, whether and to what extent foreign bank penetration exerts an impact in the presence of financial dependence also remains an open question. The purpose of the paper in this regard is to exploit unit-level data on Indian SMEs and assess the independent and interactive effects of financial dependence on SME behaviour, in the presence of foreign banks. Design/methodology/approach: This study uses fixed effects specification to address the issue. In subsequent analysis, this study also uses an instrumental variable approach for robustness. Findings: The results indicate that financial dependence improves investment and employment, although there is a decline in productivity. These findings differ across size classes of SMEs. Similar is the evidence in the presence of foreign banks. In particular, foreign bank penetration leads to a decline in investment for micro and medium SMEs, although for small SMEs, the impact is found to be the opposite. Originality/value: To the best of the author's knowledge, this is one of the early within-country studies to examine the interface between SMEs and financial dependence and the role played by foreign banks in this regard. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of the present study is to identify the core cultural aspects perceived by the executives of public, private and foreign banks in India. Design/methodology/approach – Of the 124 responses, 96 usable responses were assessed from middle and lower level managers. Qualitative content analysis and deconstruction method were used to identify the perceived cultural aspects. Findings – Interestingly, managers of Indian banking industry stated that cultural aspects of their banks possess good work and working environment, prefer people, management, experience and promotions in comparison to other factors like policy, bonus, market, commitment, project, etc. It is also noted that cultural aspects of banks prefer learning, training and team working. Practical implications – Assessment of the perception of managers toward their culture will foster the banks to develop integral subculture and to achieve the long-term organizational goals. Originality/value – The study analyze the cultural aspects in Indian banking industry qualitatively, based on executives characteristics. This qualitative analysis helps to find out more contemporary and prevailing factors of banks.

This study presents novel estimates of foreign holdings using a consolidated-by-nationality approach for a sample of 14 developed countries over multiple years. This approach provides an alternative for policymakers and researchers to analyse international exposure that complements the existing approach based on residence-based data. Two main advantages of the nationality-based approach are that it looks through corporate structures of multinational enterprises and considers local positions. The resulting novel data show that aggregate international financial integration is larger than residence-based data indicate for the sample. These data are used to analyse (i) profit-shifting activities and (ii) spillovers from United States monetary policy shocks. This study presents evidence suggesting that nationals of relatively high-tax countries may shift assets to low-tax countries in ways not fully captured in residence-based statistics. It also shows that a tightening in United States monetary policy is associated with a decline in foreign asset holdings by non-financial multinational enterprises using the consolidated-by-nationality approach. These findings underscore the relevance of using the consolidated-by-nationality approach to evaluate policy-relevant questions. Keywords : consolidated-by-nationality statistics, financial globalization, international financial integration, policy spillovers, residence-based statistics, tax differentials JEL classification codes : F21, F23, F36, F41, F42, 1. Introduction How can policymakers assess the exposure that a country's households and firms have to international risk factors? The conventional approach uses data on countries' foreign holdings. These data [...]

The study examined the relationship between organisational trust, organisational commitment and turnover intention among employees of banks in Ghana. Participants were drawn from both domestic banks and foreign-owned banks. A cross-sectional research design was adopted for this study and a sample of 128 participants was conveniently selected for the study. A set of questionnaires measuring organisational trust, organisational commitment and turnover intention were administered to the participants. Analysis of the data revealed a significant negative relationship between organisational trust and turnover intention. Also, a significant negative relationship between organisational commitment and turnover intention was observed. Organisational commitment was identified as the only significant predictor of turnover intention and accounted for 43.6% of the variance in turnover intention. Further analysis showed that the affective component (β = −.374, p < .001) accounted for the most strength in reducing turnover intention than the continuance (β = −.246, p < .01) and normative components (β = −.245, p < .001). Organisational commitment was found to be significantly higher in foreign banks than in domestic banks. The turnover intention was significantly higher in domestic banks than in foreign banks. Concerning organisational trust, no significant difference was observed between domestic and foreign banks. Relevant stakeholders in the banking sector need to pay attention to the significant roles of organisational trust and organisational commitment in mitigating the turnover intentions of their employees.

The Doomsday Book is a collection of documents and memoranda compiled by the legal department of the Federal Reserve Bank of New York (FRBNY). The book focuses on financial crises [...]

The ethical ideal of authenticity serves as the right prescription to conduct a good life. If this ideal is put into practice, it ameliorates the value of a person's life. The standard of authenticity can thus be used to gauge the quality of a person's life and his/her level of awareness. In this context, Devil on the Cross by Ngugi wa Thiong'o foregrounds the drift between bad faith and authentic existence. A set of African characters subdue the drive of self-deception rather than the anguish of freedom and embrace their alienated existence by relinquishing their autonomy to their white masters. On the other hand, another set prefer to ride the storm and decline to substitute a displeasing truth for a pleasing falsehood by choosing to be free agents rather than masquerading in white masks. Against this backdrop, Ngugi wa Thiong'o demonstrates that colonialism is partially the outcome of the socioeconomic, historical, as well as internal sources of stress and anxiety and partially a free choice., INTRODUCTION Against the yoke of determinism, Jean Paul Sartre foregrounds the ideas of choice and free will as the most significant blessing of existentialism despite causing a great deal of [...]

When sanctions involve traded goods, it is relatively easy to understand how they function. Either certain goods are permitted to cross a national border or they are not. In contrast, [...]

Between 2016 and 2019, the online gambling industry in Cambodia grew from obscurity to become the largest in Southeast Asia, capturing news headlines worldwide. Focusing primarily on the adverse impacts of this phenomenon, especially surging crime rates and discontent among local Cambodians, these reports often failed to provide a meaningful understanding of the complex factors and actors behind the industry. With little systematic scholarly research on the topic, this article seeks to fill the gap. Utilizing data from fieldwork in Cambodia and China, it examines the drivers of Chinese investment in Cambodia's gambling industry, from its openness to foreign capital and weak governance to crackdowns in other gambling hubs like the Philippines and Macau. It further offers an ethnographic discussion of Chinese online gambling operations in Cambodia and their impacts on both Cambodian and Chinese societies. Additionally, it considers the implications of the Cambodian government's crackdown on online gambling in 2019 and the COVID-19 pandemic on China-Cambodia relations. Keywords: Chinese investment, online gambling, Sihanoukville, money laundering, Cambodia's economy., Chinese investment in Cambodia has been the subject of global attention in recent years, (1) particularly in the coastal city of Sihanoukville, where a mostly Chinese-funded gambling industry has been [...]

The tax exemption of interest revenues and the high level of professional secrecy were the unique selling points of Luxembourg for the German banking community. From the 1960s to the 1990s, they were the main causes for the rise of Luxembourg to one of the biggest euromarket places. The government of Luxembourg used these institutional factors to foster and accelerate the economic transformation from an industrial to a post-industrial country. The German banks did not reduce or even discontinue their presence in Luxembourg after the end of tax exemption and strict banking secrecy. Instead, they specialized on syndicated loans, treasury functions and Private Wealth Management for wealthy clients.