📈 economics

Corporate board characteristics and banks valuation measures: Empirical evidence from the MENA Region

This study analyzes 104 MENA banks from 2010 to 2024 and finds that corporate board characteristics significantly influence bank valuation, with ownership concentration, gender diversity, and audit committee independence positively affecting value, while CEO duality negatively impacts stock returns, noting that these governance mechanisms are more effective in conventional banks than in Islamic banks.

Ghaithaa El Mokdad, Abdelhafid Benamraoui, Prem Puwanenthiren, Ali Awdeh2026-08-11
📈 economics

Geopolitical Risk and Global Financial Market Connectedness: Evidence from TVP-VAR Spillovers and DCC-GARCH Correlations

This study employs TVP-VAR and DCC-GARCH models to demonstrate that geopolitical risk and global financial markets exhibit deep, time-varying interconnectedness where developed markets typically transmit shocks while emerging markets and commodities receive them, with spillovers and correlations intensifying significantly during systemic crises and limiting diversification benefits.

Pankaj Agrawal, Aditya Keshari2026-08-11
📈 economics

Strategic Agility, Managerial Ties, and the Sustainable Performance of Small and Medium Enterprises in an Emerging Economy: Direct and Relational Pathways

Drawing on dynamic capabilities and social capital theories, this study of Indonesian SMEs demonstrates that strategic agility directly drives sustainable performance while also exerting a smaller, complementary indirect effect through managerial ties, challenging the notion that relational resources fully mediate this relationship.

Harimukti Wandebori, Anak Agung Ngurah Tata Pinandhika, Bernadetta Nadya Amarani Sitompul2026-08-11
📈 economics

Global Risk and Sustainable Investment Performance Nexus in Indonesia: A Vector Autoregressive Approach

Using a Vector Autoregressive model on monthly data from 2009 to 2025, this study reveals a bidirectional relationship between global risk and Indonesia's stock market, alongside a unidirectional impact on policy rates, highlighting the necessity for coordinated, data-driven policies to enhance financial resilience.

Suriani Suriani, Sartiyah Sartiyah, Abd. Jamal, Asri Diana, Musliadi Bin Usman2026-08-11
📈 economics

AI-Enabled Digital Transformation for Economic Diversification in Kazakhstan: Towards a Responsible AI Governance Framework

This conceptual paper proposes a Responsible AI Governance Framework (RAI-ED) to guide Kazakhstan's economic diversification away from hydrocarbon dependence by integrating strategic, institutional, and technological layers to position responsible AI as a foundational enabler of digital transformation rather than a mere compliance requirement.

Zhanar Nurbossynova, Yerkenazym Orynbassarova, Dina Mangibayeva, Bibigul Saubetova, Obby Phiri2026-08-11