Journal articles: 'Commonality in Asset Growth'

1

Dissem, Sonia. "Asset commonality of European banks." Journal of Banking Regulation 20, no. 1 (February 15, 2018): 1–33. http://dx.doi.org/10.1057/s41261-018-0064-5.

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Allen, Franklin, Ana Babus, and Elena Carletti. "Asset commonality, debt maturity and systemic risk." Journal of Financial Economics 104, no. 3 (June 2012): 519–34. http://dx.doi.org/10.1016/j.jfineco.2011.07.003.

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Shehzad, Khurram, Mudassar Rashid, and Waseemullah. "Asset Commonality and Credit Expansion by Banks in Pakistan." Journal of Accounting and Finance in Emerging Economies 8, no. 2 (June 30, 2022): 287–94. http://dx.doi.org/10.26710/jafee.v8i2.2333.

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Purpose: Diversification by the majority of the banks in a system contribute to the progression of systemic risk on one hand and affects the lending behaviors of the banks on the other. Since lending behaviors of the banks directly affect the availability of credit to the non-financial sector, the situation may worsen, as a consequence of systemic risk. In this study, we examine the relationship between asset commonality and credit expansion by commercial banks in Pakistan. Design/Methodology/Approach: We use post-global financial crisis data ranging from 2011-2020. A dynamic model is employed with a two-step system GMM technique to control for the problems of autocorrelation and endogeneity, as indicated by the pre-diagnostic tests. Findings: Our results show that asset commonality significantly affects credit expansion by banks in Pakistan. Moreover, the direction of the relationship is negative implying that the asset commonality of the banks in Pakistan, induces banks on the individual level to contract credit to the non-financial sector. Implications/Originality/Value: The findings are helpful for policymakers to devise and implement a prudent regulatory framework for the monetary sector, by not only targeting risk indicators of the financial sector but also keeping in view its repercussions to the real sector of the economy.

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He, Zhongzhi Lawrence, and Lawrence Kryzanowski. "The Cross Section of Expected Returns and Amortized Spreads." Review of Pacific Basin Financial Markets and Policies 09, no. 04 (December 2006): 597–638. http://dx.doi.org/10.1142/s0219091506000872.

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The cross-sectional relationship between expected returns and amortized spreads is studied in an overlapping-generations economy with an average investor. The commonality in liquidity is directly incorporated into the asset-pricing relation. In a static equilibrium, the amortized spread of an asset is related to its expected return through four channels; namely: the equilibrium zero-beta rate, the market risk premium, a level effect, and an incremental sensitivity effect. Although both are present over the entire period, their relative importance shifts from a significant level to a significant sensitivity effect from the earlier to most recent sub-period in the Canadian stock market.

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Black, Mary, Gavin Howarth, and Mark Nicholson. "Asset risk indices: commonality, diversity and usage – the history in UK electricity distribution." CIRED - Open Access Proceedings Journal 2017, no. 1 (October 1, 2017): 2615–18. http://dx.doi.org/10.1049/oap-cired.2017.0090.

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Georgescu, Oana-Maria, Dimitrios Laliotis, Miha Leber, and Javier Población. "A Liquidity Shortfall Analysis Framework for the European Banking Sector." Mathematics 8, no. 5 (May 13, 2020): 787. http://dx.doi.org/10.3390/math8050787.

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This paper presents an analytical framework for the identification of vulnerabilities arising from the liquidity and funding profile of banks. It is composed of two pillars—estimation of liquidity needs and the counterbalancing capacity of the total liquid assets—that determine a liquidity surplus or shortfall and the drivers for a range of plausible scenarios. Granular bank-level data on the structure of liabilities, maturation profile, liquid assets quality composition, and asset encumbrance are used for that purpose, also taking into account associated commonality effects. A new liquidity metric is introduced—the distance to liquidity stress indicator (DLSI)—which measures the required stress factor for banks to become illiquid. The novelty of the approach (i.e., taking into account asset encumbrance to determine counterbalancing capacity) provides empirical evidence that asset encumbrance has a significant impact on a bank’s liquidity position, leading to the non-linear behavior of liquidity shortfalls, even in the case of linear stress factors.

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Egginton, Jared, and Ethan D. Watson. "CORRELATED BEHAVIOR IN LIMIT ORDER CANCELLATIONS, COMOVEMENT IN ASSET RETURNS, AND COMMONALITY IN LIQUIDITY." Journal of Financial Research 43, no. 1 (December 3, 2019): 37–62. http://dx.doi.org/10.1111/jfir.12200.

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Warsani Purnama Sari. "Asset Growth on Sharia Insurance." Britain International of Humanities and Social Sciences (BIoHS) Journal 2, no. 1 (February 10, 2020): 172–78. http://dx.doi.org/10.33258/biohs.v2i1.167.

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Examining the Premium Income Rate on Asset Growth in a Sharia Insurance Company registered with the Indonesian Financial Services Authority. The type of research used in this study is Comparative Causal, while the sample used in this study are 20 sharia insurance companies with the criteria of sharia insurance companies that are actively operating for the last three years. The results of this study indicate that the level of premium income positively and significantly affect the growth of asset Asuransi Syariah. This study is concerned with the level of premium income that affects the growth of Sharia Insurance assets in Indonesia.

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GÂRLEANU, NICOLAE, STAVROS PANAGEAS, and JIANFENG YU. "Technological Growth and Asset Pricing." Journal of Finance 67, no. 4 (July 19, 2012): 1265–92. http://dx.doi.org/10.1111/j.1540-6261.2012.01747.x.

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KUNG, HOWARD, and LUKAS SCHMID. "Innovation, Growth, and Asset Prices." Journal of Finance 70, no. 3 (May 11, 2015): 1001–37. http://dx.doi.org/10.1111/jofi.12241.

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Baker, Dean, J. Bradford De Long, and Paul R. Krugman. "Asset Returns and Economic Growth." Brookings Papers on Economic Activity 2005, no. 1 (2005): 289–330. http://dx.doi.org/10.1353/eca.2005.0011.

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Grossman, Gene M., and Noriyuki Yanagawa. "Asset bubbles and endogenous growth." Journal of Monetary Economics 31, no. 1 (February 1993): 3–19. http://dx.doi.org/10.1016/0304-3932(93)90014-7.

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Londono, Juan M., and Nancy R. Xu. "The Global Determinants of International Equity Risk Premiums." International Finance Discussion Paper 2021, no. 1318 (May 18, 2021): 1–67. http://dx.doi.org/10.17016/ifdp.2021.1318.

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We examine the commonality in international equity risk premiums by linking empirical evidence for the international stock return predictability of US downside and upside variance risk premiums (DVP and UVP, respectively) with implications from an international asset pricing framework, which takes the perspective of a US/global investor and features asymmetric global macroeconomic, financial market, and risk aversion shocks. We find that DVP and UVP predict international stock returns through different global equity risk premium determinants: bad and good macroeconomic uncertainties, respectively. Across countries, US investors demand lower macroeconomic risk compensation but higher financial market risk compensation for more-integrated countries.

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He, Xiaojun, and Raja Velu. "Volume and Volatility in a Common-Factor Mixture of Distributions Model." Journal of Financial and Quantitative Analysis 49, no. 1 (February 2014): 33–49. http://dx.doi.org/10.1017/s0022109014000106.

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AbstractThis paper develops a multi-asset mixture distribution hypothesis model to investigate commonality in stock returns and trading volume. The model makes two main predictions: First, the factor structures of returns and trading volume are independent although they stem from the same valuation fundamentals and jointly depend on a latent information flow; second, cross-sectional positive volatility-volume relations arise solely from the dynamic features of the information flow. Empirical analyses at the market level support these predictions. Furthermore, the results indicate that removing the information flow significantly reduces the return volatility persistence and the extent of the reduction exhibits a size pattern.

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Pagano, Andrea Jonathan, Francesco Romagnoli, and Emanuele Vannucci. "COVID-19 Effects on Cultural Heritage: The Case of Villa Adriana and Villa D’Este." Environmental and Climate Technologies 25, no. 1 (January 1, 2021): 1241–52. http://dx.doi.org/10.2478/rtuect-2021-0094.

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Abstract The paper aims to provide a clarification of assessing insurance risk related to an asset owned by a subject under public law and, more specifically, to an economic cultural asset. This study is aligned with key aspects proposed by the EU for the protection of the cultural heritage from natural disasters. In the first place, given the peculiarity of the material inherent to cultural heritage, a motivation underlies the search for the correlation between the latter and the commonality. Secondly, it appeared necessary to verify the differences, similarities and importance of the economic management of cultural heritage in order to understand the social, economic, material and intangible importance of an asset managed in an economic way within a social axis (municipality). The third reason relates to the general severity and the risk and subsequent damage that a hazard, such as a pandemic outbreak (COVID-19), can cause on one or more cultural heritage. In the final analysis, perhaps the most meaningful aspect underlies the verification of the possible consequences in the analysis of summations of losses generated by a hazard in order to allow a prospect of what could be the consequences of such a catastrophic scenario.

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Croce, Mariano M. "Growth risks, asset prices, and welfare." Economics Letters 202 (May 2021): 109817. http://dx.doi.org/10.1016/j.econlet.2021.109817.

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Goodhart, C. A. E., Miguel A. Segoviano Basurto, and Boris Hofmann. "Default, Credit Growth, and Asset Prices." IMF Working Papers 06, no. 223 (2006): 1. http://dx.doi.org/10.5089/9781451864830.001.

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18

Taylor, Lance. "GROWTH, CYCLES, ASSET PRICES AND FINANCE." Metroeconomica 63, no. 1 (March 7, 2011): 40–63. http://dx.doi.org/10.1111/j.1467-999x.2010.04117.x.

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Cooper, Ilan, and Paulo Maio. "Asset Growth, Profitability, and Investment Opportunities." Management Science 65, no. 9 (September 2019): 3988–4010. http://dx.doi.org/10.1287/mnsc.2018.3036.

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We show that recent prominent equity factor models are to a large degree compatible with the Intertemporal CAPM (ICAPM) framework. Factors associated with alternative profitability measures forecast the equity premium in a way that is consistent with the ICAPM. Several factors based on firms’ asset growth predict a significant decline in stock market volatility, thus being consistent with their positive prices of risk. The investment-based factors are also strong predictors of an improvement in future economic activity. The time-series predictive ability of most equity state variables is not subsumed by traditional ICAPM state variables. Importantly, factors that earn larger risk prices tend to be associated with state variables that are more correlated with future investment opportunities or economic activity. Moreover, these risk price estimates can be reconciled with plausible risk-aversion parameter estimates. Overall, the ICAPM can be used as a common theoretical background for recent multifactor models. This paper was accepted by Karl Diether, finance.

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Lehnert, Andreas. "Asset Pooling, Credit Rationing, and Growth." Finance and Economics Discussion Series 1998, no. 52 (1998): 1–62. http://dx.doi.org/10.17016/feds.1998.52.

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21

Song, Zhongzhi. "Asset Growth and Idiosyncratic Return Volatility *." Review of Finance 20, no. 3 (July 25, 2015): 1235–58. http://dx.doi.org/10.1093/rof/rfv033.

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Goulder, Lawrence H., and Lawrence H. Summers. "Tax policy, asset prices, and growth." Journal of Public Economics 38, no. 3 (April 1989): 265–96. http://dx.doi.org/10.1016/0047-2727(89)90060-1.

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Roh, Tai-Yong, Changjun Lee, and Byoung-Kyu Min. "Consumption growth predictability and asset prices." Journal of Empirical Finance 51 (March 2019): 95–118. http://dx.doi.org/10.1016/j.jempfin.2019.02.001.

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Chou, Pin-Huang, Kuan-Cheng Ko, and Nien-Tzu Yang. "Asset growth, style investing, and momentum." Journal of Banking & Finance 98 (January 2019): 108–24. http://dx.doi.org/10.1016/j.jbankfin.2018.11.008.

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Alwan, Zaid, and Barry J. Gledson. "Towards green building performance evaluation using asset information modelling." Built Environment Project and Asset Management 5, no. 3 (July 6, 2015): 290–303. http://dx.doi.org/10.1108/bepam-03-2014-0020.

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Purpose – The purpose of this paper is to provide a unique conceptual framework for integrated asset management strategy that includes making use of available facility assessment methods and tools such as BREEAM In-Use, and Leadership in Energy and Environmental Design (LEED); and highlights proposes areas of commonality between these and the use of as-built Building Information Modelling, that ultimately becomes the Asset Information Model (AIM). This framework will consider the emerging requirements for the capture of Building Performance Attribute Data (BPAD), and how these can be managed in order to assist with effective post-construction building performance evaluation. Design/methodology/approach – A review of the current process relevant to the development of as-built BIMs and AIMs was undertaken which included a discussion of BIM standards and of the COBie process. This was combined with data provided by industry practitioners. This led to the concept of BPADs being developed, to be used within existing green building tool, BREEAM In-Use, COBIE and FM/Asset management methods. In turn these methodologies were used to identify possible synergies and areas of integration in AIM-enabled environments. Findings – Recognising the cyclical nature of asset management and BIM, a conceptual model was generated. It was found that BPADs could be aggregated within an AIM model which could influence the delivery of effective facilities and asset management. The model considers the use of existing Building Management Systems (BMS) and Computer Aided Facility Management Systems (CAFMs) and identifies issues associated with the overall sustainability strategy. Originality/value – A conceptual framework is generated that proposes the use of effective information management and aggregation of BPAD within an AIM.

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Kumar, Gaurav, and Arun Kumar Misra. "Closer View at the Stock Market Liquidity: A Literature Review." Asian Journal of Finance & Accounting 7, no. 2 (September 1, 2015): 35. http://dx.doi.org/10.5296/ajfa.v7i2.8136.

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<p>Liquidity is said to be the lifeblood of stock markets. It has prominent implications for traders, regulators, stock exchanges and the listed firms. In recent years a huge amount of literature has emerged that deals with liquidity. This article classifies and organises the literature and provides a critical review of the frameworks currently available for modelling liquidity and its macroeconomic and firm specific drivers. Commonality and intraday behaviour of liquidity in various markets is discussed under the umbrella of market microstructures. Subsequently, liquidity risk as a factor in Asset pricing is analysed taking various models in to consideration. Finally, the study reviewed the impact of liquidity on corporate finance decisions viz. dividends, firm valuation, stock split, capital structure etc.</p>

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Iqbal, Muhammad, and Buddi Wibowo. "Analysis of Asset Growth Anomaly on Cross-Section Stock Returns: Evidence from Indonesia Stock Exchange." Journal of Economics, Business & Accountancy Ventura 20, no. 1 (July 27, 2017): 47. http://dx.doi.org/10.14414/jebav.v20i1.1036.

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Assorted types of market anomalies occur when stock prices deviate from the prediction of classical asset pricing theories. This study aims to examine asset growth anomaly where stocks with high asset growth will be followed by low returns in the subsequent periods. This study, using Indonesia Stock Exchanges data, finds that an equally-weighted low-growth portfolio outperforms high-growth portfolio by average 0.75% per month (9% per annum), confirming existence of asset growth anomaly. The analysis is extended at individual stock-level using fixed-effect panel regression in which asset growth effect remains significant even with controlling other variables of stock return determinants. This study also explores further whether asset growth can be included as risk factor. Employing two-stage cross-section regression in Fama and Macbeth (1973), the result aligns with some prior studies that asset growth is not a new risk factor; instead the anomaly is driven by mispricing due to investors’ overreaction and psychological bias. This result imply that asset growth anomaly is general phenomenon that can be found at mostly all stock market but in Indonesia market asset growth anomaly rise from investors’ overreaction, instead of playing as a factor of risk.

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McMillan, David G. "Interrelation and spillover effects between stocks and bonds: cross-market and cross-asset evidence." Studies in Economics and Finance 37, no. 3 (June 17, 2020): 561–82. http://dx.doi.org/10.1108/sef-08-2019-0330.

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Purpose This paper aims to examine the behaviour, both contemporaneous and causal, of stock and bond markets across four major international countries. Design/methodology/approach The authors generate volatility and correlations using the realised volatility approach and implement a general vector autoregression approach to examine causality and spillovers. Findings While results confirm that same asset-cross country return correlations and spillovers increase over time, the same in not true with variance and covariance behaviour. Volatility spillovers across countries exhibit a substantial amount of time variation; however, there is no evidence of trending in any direction. Equally, cross asset – same country correlations exhibit both negative and positive values. Further, the authors report an inverse relation between same asset – cross country return correlations and cross asset – same country return correlations, i.e. the stock return correlation across countries increases at the same time the stock and bond return correlation within each country declines. Moreover, the results show that the stock and bond return correlations exhibit commonality across countries. The results also demonstrate that stock returns lead movement in bond returns, while US stock and bond returns have predictive power other country stock and bond returns. In terms of the markets analysed, Japan exhibits a distinct nature compared with those of Germany, the UK and USA. Originality/value The results presented here provide a detailed characterisation of how assets interact both with each other and cross-countries and should be of interest to portfolio managers, policy-makers and those interested in modelling cross-market behaviour. Notably, the authors reveal key differences between the behaviour of stocks and bonds and across different countries.

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Asli, Muhammad, Syamsu Alam, and Erlina Pakki. "THE INFLUENCE OF CAR, LDR, BOPO AGAINST COMPANY VALUE THROUGH GROWTH OF ASSETS IN CONVENTIONAL BANKS LISTED IN INDONESIA STOCK EXCHANGE PERIOD 2013-2017." Hasanuddin Journal of Applied Business and Entrepreneurship 3, no. 2 (May 16, 2020): 79–92. http://dx.doi.org/10.26487/hjabe.v3i2.324.

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The banking sector plays an important role in a country's economy, because banks are intermediary institutions connecting between people who have excess funds and people who need funds. This study aims to determine the effect of CAR, LDR, BOPO on Company Value through Asset Growth in Conventional Banks Listed on the Indonesia Stock Exchange for the period of 2013 to 2017. The results of the study found that CAR has a positive and real influence in increasing asset growth , LDR has positive and significant effect in increasing asset growth, BOPO has a negative and significant effect on asset growth, CAR has a positive and significant effect on company value, LDR has positive and significant effect on company value, BOPO has negative and significant effect on company value, asset growth positive and significant effect on company value, asset growth is not proven to mediate the effect of CAR on company value, asset growth can mediate the effect of LDR on company value, asset growth is proven to mediate the effect of BOPO on company value.

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Lipson, Marc L., Sandra Mortal, and Michael J. Schill. "On the Scope and Drivers of the Asset Growth Effect." Journal of Financial and Quantitative Analysis 46, no. 6 (November 14, 2011): 1651–82. http://dx.doi.org/10.1017/s0022109011000561.

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AbstractRecent papers have debated whether the negative correlation between measures of firm asset growth and subsequent returns is of little importance since it applies only to small firms, is justified as compensation for risk, or is evidence of mispricing. We show that the asset growth effect is pervasive, and evidence to the contrary arises due to specification choices; that one measure of asset growth, the change in total assets, largely subsumes the explanatory power of other measures; that the ability of asset growth to explain either the cross section of returns or the time series of factor loadings is linked to firm idiosyncratic volatility (IVOL); that the return effect is concentrated around earnings announcements; and that analyst forecasts are systematically higher than realized earnings for faster growing firms. In general, there appears to be no asset growth effect in firms with low IVOL. Our findings are consistent with a mispricing-based explanation for the asset growth effect in which arbitrage costs allow the effect to persist.

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Georges, Maxeem. "Changes to the growth and discount rates and asset impairment." Accounting Research Journal 33, no. 4/5 (July 1, 2020): 577–92. http://dx.doi.org/10.1108/arj-09-2019-0175.

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Purpose With timeliness and measurement of asset impairments as well as management opportunistic behaviour being topical, since the issuance of Australian Accounting Standards Board (AASB) 136, this study aims to examine whether assumptions about growth and discount rates made about asset recoverable amounts determine asset impairments. Design/methodology/approach This study uses a sample of 450 firm-year observations representing 133 Australian listed firms from 2015 to 2018. An estimation model is used where asset impairments is the dependent variable, growth and discount rates are the variables of interest and several impairment indicators are included as controls. Findings The results show that the decrease in growth rate but not the increase in discount rate affects the recognition of large asset impairments, where firms decrease the growth rate in the year of recognition. A change in discount rate affects asset impairments only when it is higher than the industry average. Hence, the growth rate is the management’s tool of choice in the recognition of asset impairments. Originality/value This study provides additional insight into how AASB 136 is used in practice. This includes investigating the tools used by firms in the calculation of asset recoverable amount and whether firms provide important information, as a part of disclosure. The results are of interest to investors and policymakers because they highlight the need for more restrictions around growth rate assumptions and less variation in disclosure.

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LISTIANI, Nur, and Supramono SUPRAMONO. "Sustainable Growth Rate: Between Fixed Asset Growth and Firm Value." MANAGEMENT AND ECONOMICS REVIEW 5, no. 1 (June 15, 2020): 147–59. http://dx.doi.org/10.24818/mer/2020.06-12.

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Machado, Márcio André Veras, and Robert William Faff. "Asset growth and stock return: evidence in the Brazilian market." Revista Contabilidade & Finanças 29, no. 78 (June 18, 2018): 418–34. http://dx.doi.org/10.1590/1808-057x201805080.

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Abstract Empirical evidence suggests that firms which have experienced fast growth, through increased external funding and by making capital investments and acquisitions, tend to show bad operating performance and lower stock returns, whereas firms that have experienced contraction, through divestiture, share repurchase and debt retirement, tend to show good operating performance and higher stock returns. So, this study aimed to analyze the relationship between asset growth and stock return in the Brazilian stock market, and it tested the hypothesis that asset growth is negatively related to future stock return. To do this, the methodology was divided into 3 steps: verifying 1) if asset growth anomaly exists; 2) if this relation may be explained by the investment friction hypothesis and/or by the limits-to-arbitrage hypothesis; and 3) if asset growth is a risk factor or mispricing. In addition, the analysis was carried out both at a portfolio level and an individual assets level. The sample included all the non-financial firms listed at B3 from June 1997 to June 2014. As for the main results, this study found that the asset growth effect exists, both at the portfolio level and the individual assets level, although it is sensitive to the proxy. About the effect’s materiality, this study concluded that the asset growth effect is not economically relevant, since it is not observed in big firms, regardless of the proxy used, a fact that makes it difficult to explore this effect. Another finding is that the asset growth effect may not be related to the limits-to-arbitrage hypothesis and to the financial constraint hypothesis; also, this effect may be considered a risk factor, suggesting that the investment effect documented in the Brazilian stock market may be explained by the rational asset pricing perspective. Therefore, capital market professionals should take into account the asset growth factor in asset pricing models for better investment risk assessment.

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Cornell, Bradford. "Equity Duration, Growth Options, and Asset Pricing." Journal of Portfolio Management 26, no. 3 (April 30, 2000): 105–11. http://dx.doi.org/10.3905/jpm.2000.319725.

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Winn, Joan. "Asset Productivity Turnaround: the Growth/Efficiency Challenge." Journal of Management Studies 34, no. 4 (July 1997): 585–600. http://dx.doi.org/10.1111/1467-6486.00064.

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KOGAN, LEONID, and DIMITRIS PAPANIKOLAOU. "Growth Opportunities, Technology Shocks, and Asset Prices." Journal of Finance 69, no. 2 (March 17, 2014): 675–718. http://dx.doi.org/10.1111/jofi.12136.

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Hirano, Tomohiro, and Noriyuki Yanagawa. "Asset Bubbles, Endogenous Growth, and Financial Frictions." Review of Economic Studies 84, no. 1 (November 7, 2016): 406–43. http://dx.doi.org/10.1093/restud/rdw059.

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Dierkes, Maik, Stephan Germer, and Vulnet Sejdiu. "Probability distortion, asset prices, and economic growth." Journal of Behavioral and Experimental Economics 84 (February 2020): 101476. http://dx.doi.org/10.1016/j.socec.2019.101476.

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Wang, Shengquan, Langnan Chen, and Xiong Xiong. "Asset bubbles, banking stability and economic growth." Economic Modelling 78 (May 2019): 108–17. http://dx.doi.org/10.1016/j.econmod.2018.08.014.

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Lalwani, Vaibhav, and Madhumita Chakraborty. "Asset pricing factors and future economic growth." Economics Letters 168 (July 2018): 151–54. http://dx.doi.org/10.1016/j.econlet.2018.04.031.

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Titman, Sheridan, K. C. John Wei, and Feixue Xie. "Market Development and the Asset Growth Effect: International Evidence." Journal of Financial and Quantitative Analysis 48, no. 5 (September 30, 2013): 1405–32. http://dx.doi.org/10.1017/s0022109013000495.

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AbstractA number of studies of U.S. stock returns document what is referred to as the investment or asset growth effect. Specifically, firms that increase investment or total assets subsequently earn lower risk-adjusted returns. This study finds substantial cross-country differences in the asset growth effect. In particular, the asset growth effect is stronger in countries with more developed financial markets, but it does not seem to be associated with corporate governance or the costs of trading. Overall, the evidence is consistent with a q-theory where financial market development captures either managers’ willingness or ability to align investment expenditures to the cost of capital, but it is inconsistent with the hypothesis that the asset growth effect is due to bad governance and overinvestment.

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Yulianta, Yulianta, and Jasmani Jasmani. "Pengaruh Asset Growth dan Total Asset Turn Over terhadap Return On Asset pada Pt. HM Sampoerna Tbk Tahun 2006-2018." Jurnal Neraca Peradaban 1, no. 1 (January 14, 2021): 30–38. http://dx.doi.org/10.55182/jnp.v1i1.21.

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This study aims to determine the effect of Asset Growth and Total Asset Turn Over on Return On Assets at PT. HM Sampoerna Tbk Period 2016-2018. The method used is explanatory research. The analysis technique uses statistical analysis with regression testing, correlation, determination and hypothesis testing. The results of this study that Asset Growth has no significant effect on Return On Asset of 3.9%, the hypothesis test is obtained t count <t table or (-0.667 <2.201). Total Asset Turn Over has a significant effect on Return On Asset by 44.5%, hypothesis testing is obtained t count> t table or (2,967> 2,201). Asset Growth and Total Asset Turn Over simultaneously have a significant effect on Return On Assets, the regression equation Y = 13,030 + -0,232X1 + 9,431X2 is obtained and the determination value is 60.9%, the hypothesis test is obtained the value of F count> F table or (7,777> 3,710).

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Hayati, Kurnia, and Vanica Serly. "Pengaruh Biological Asset Intensity, Growth, Leverage, Dan Tingkat Internasional Terhadap Pengungkapan Aset Biologis." JURNAL EKSPLORASI AKUNTANSI 2, no. 2 (June 17, 2020): 2638–58. http://dx.doi.org/10.24036/jea.v2i2.236.

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Data from the Central Statistics Agency shows Indonesia's agricultural growth rate in the first quarter of 2019 was only 1.81%. This growth rate decreased significantly, when compared to the first quarter of 2018 which reached 3,34%. This indicates that the condition of agriculture in Indonesia is very alarming. This study aims to see the effect of biological asset intensity, growth, leverage and international level to biological asset disclosure in agricultural companies listed on the Indonesia Stock Exchange (IDX) for the period 2015-2018. Disclosure of biological asset in this study refers to PSAK 69 with 36 items of disclosure. This type of research is quantitative. The population in this study were all agricultural companies listed on the Indonesia Stock Exchange (IDX), with a total sample of 66 samples using a purposive sampling method. The analysis was done by using multiple regression model. The results of this study indicate that: (1) The biological asset intesity has a positive and significant effect on the disclosure of biological asset, (2) Growth has a positive and significant effect on the disclosure of biological asset, (3) Leverage has a negative and not significant effect on the disclosure of biological asset, (4) The international level has a negative and not significant effect on the disclosure of biological asset

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Greenwood, Robin, and David Scharfstein. "The Growth of Finance." Journal of Economic Perspectives 27, no. 2 (February 1, 2013): 3–28. http://dx.doi.org/10.1257/jep.27.2.3.

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The US financial services industry grew from 4.9 percent of GDP in 1980 to 7.9 percent of GDP in 2007. A sizeable portion of the growth can be explained by rising asset management fees, which in turn were driven by increases in the valuation of tradable assets, particularly equity. Another important factor was growth in fees associated with an expansion in household credit, particularly fees associated with residential mortgages. This expansion was fueled by the development of nonbank credit intermediation (or “shadow banking”). We offer a preliminary assessment of whether the growth of active asset management, household credit, and shadow banking—the main areas of growth in the financial sector—has been socially beneficial.

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Bamberg, G., and A. Neuhierl. "Growth Optimal Investment Strategy: The Impact of Reallocation Frequency and Heavy Tails." German Economic Review 13, no. 2 (May 1, 2012): 228–40. http://dx.doi.org/10.1111/j.1468-0475.2011.00553.x.

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Abstract The strategy to maximize the long-term growth rate of final wealth (maximum expected log strategy, maximum geometric mean strategy, Kelly criterion) is based on probability theoretic underpinnings and has asymptotic optimality properties. This article reviews the allocation of wealth in a two-asset economy with one risky asset and a risk-free asset. It is also shown that the optimal fraction to be invested in the risky asset (i) depends on the length of the basic return period and (ii) is lower for heavy-tailed log returns than for light-tailed log returns.

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Zaidi, Syeda Hina. "Liquidity commonality-economic cycle nexus in emerging Asian economies: An ARDL approach." International Journal of ADVANCED AND APPLIED SCIENCES 8, no. 6 (June 2021): 26–39. http://dx.doi.org/10.21833/ijaas.2021.06.004.

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This study investigates the impact of liquidity commonality on the economic cycle for 7 emerging Asian economies over a period of 1997-2018, using Autoregressive Regressive Distributed Lag (ARDL) approach to Cointegration. Gross domestic investment, total consumption expenditure, net trade, and unemployment rate are studied as macro variables in the analysis. The nexus has been discussed both in the short-run and long-run. A significant relationship between economic growth and stock market liquidity commonality is found for large economies including China, India, Indonesia, and Malaysia; however, we found mixed evidence regarding the direction of the relationship for different economies. The aggregate analysis revealed that liquidity commonality has a positive impact on economic growth in the short-run and a negative association in the long-run. As a non-diversifiable risk factor, liquidity co-movement shocks spread the market wide and disrupt the overall functioning of financial markets and eventually affect the economy. For regulators and policymakers and particularly for those in emerging economies, understanding the factors affecting economic cycles and recognizing their dynamics and magnitude is important for policy coordination and market development. Further, the firms in Asian markets operate in legal and regulatory environments distinct from those of firms analyzed in the previous literature. A major knowledge gap pertaining to Asian emerging markets serves as the primary motivation for this study.

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Mehmood, Khawaja Khalid. "Asset Growth and Profitability of PLCs in SAARC Economies." Journal of Accounting and Finance in Emerging Economies 3, no. 1 (June 30, 2017): 33–46. http://dx.doi.org/10.26710/jafee.v3i1.159.

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Purpose: Past research concerning companies' asset growth and profitability comparisons within and across SAARC (South Asian Association for Regional Cooperation) economies is extremely limited and the purpose of this research is to fill that gap. Design/methodology/approach: This research accessed data (2009 to 2013) from Thomson Reuters Data stream, drawn comparisons for years 2009-13, and used Tukey's HSD test for analyses. Findings: Findings reveal that profitability of Pakistani, Indian, and Bangladeshi companies was overall better in 2010 and 2011 pointing towards these countries' successful exit from crisis. These years marked higher asset growth as well among Indian, Bangladeshi, and Sri Lankan companies. Importantly, countries' cross comparisons reveal that profitability of Bangladeshi companies was better than others in all years, however, Sri Lankan companies also had higher profitability than Indian ones during 2011-13 and had higher asset growth compared to Pakistani companies in 2012 and 2013. Overall, Pakistani companies had lowest asset growth. Implications/Originality/Value: The study updates information concerning SAARC economies’ corporate and business world and demonstrates that asset growth and profitability trends could be inspired from international events and an economy's condition. Future studies could be industry specific; include other SAARC countries using a different criterion; and use different ratios for analysis.

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Ferdinand, Augusty Tae, and Maklon Felipus Killa. "THE PARETO SALES NETWORK ASSET: A NETWORKED POWER PERSPECTIVE." Business: Theory and Practice 19 (June 20, 2018): 103–13. http://dx.doi.org/10.3846/btp.2018.11.

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The purpose of this research is to develop a conceptual model dealing the relationship between EO and sales growth performance by proposing the Pareto sales network asset as a reliable bridge for mediating EO and sales growth performance in SMEs in Indonesia. Lending the network theory and the Pareto concept, we propose a concept on The Pareto sales network asset as a strategic asset for enhancing sales growth performance. The main finding of this study is that an entrepreneurial oriented firm who success in accessing the Pareto sales network which by nature is outside of the firm will get the networked power. Having, maintaining and using the networked power getting from a Pareto sales network asset will be a key asset for enhancing sales growth performance. The acceptance of the hypotheses on the role of the Pareto sales network asset demonstrated the importance of this strategic asset for SMEs in enhancing performance.

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Cao, Sean Shun. "Reexamining Growth Effects: Are All Types of Asset Growth the Same?" Contemporary Accounting Research 33, no. 4 (November 5, 2015): 1518–48. http://dx.doi.org/10.1111/1911-3846.12209.

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Cai, Charlie X., Peng Li, and Qi Zhang. "Overreaction to growth opportunities: An explanation of the asset growth anomaly." European Financial Management 25, no. 4 (July 10, 2018): 747–76. http://dx.doi.org/10.1111/eufm.12188.

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Journal articles on the topic 'Commonality in Asset Growth'

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