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This research mainly focuses on investigating the role of the interactions between cash flows, oil price uncertainty, and geopolitical risk on corporate cash holdings across 42 countries. We also investigate whether such interactions may differ across firm and country characteristics. The main results show that the interactions between cash flows interacting with oil price uncertainty and geopolitical risk have a positive correlation with corporate cash holdings. Additionally, the nexus between the interactions and corporate cash holdings is more prominent for financially constrained firms, firms located in highly competitive industries, or Asia and Europe. The main policy implication based on our findings is that policymakers should exercise caution and take into account the effect of the uncertainties of oil price movement and geopolitical risk when designing policies related to corporate decision makings. [ABSTRACT FROM AUTHOR]

The financial industry has been affected by the rise of informational technology and is actively developing digital finance. The use of technology has become an alternative resolution to improve global financial inclusion. This research discusses whether the development of mobile payment systems promotes financial inclusion and improves green environment in 29 low- and middle-income countries in Asia from 2014 to 2018. We utilize the outstanding bank deposit ratio and bank loan ratio as measures of financial inclusion and three measures for mobile payment. This study considers green recovery under an education indicator that shows awareness about the implementation of green recovery technologies. We find that some amount from loans is also useful when spent on green recovery in the move towards a clean environment. The empirical investigation notes a significant impact from mobile payment to financial inclusion development with the effect from mobile payment to financial inclusion more critical for lower- than higher-income countries in the sample. The empirical findings offer concrete evidence to encourage mobile payment ecosystems through the cooperation of government, financial institutions, and technology companies. A few policy implications are presented at the end of the study. [ABSTRACT FROM AUTHOR]

Since the Belt and Road Initiative (BRI) has increased the economic growth of many developing countries in Asia, more attention should be paid to carbon dioxide (CO2) emissions in these regions. Based on the Tapio decoupling model and Kaya-LMDI model, this paper investigates the spatiotemporal evolution of decoupling and driving factors of CO2 emissions of 57 BRI countries from 1991 to 2016. The results are as follows. First, the decoupling statuses of higher income countries are generally better than lower income countries. Second, Northeast Asia, South Asia, and West Asia accounted for 68.5%, 16.8%, and 13.3% of CO2 emission increases in BRI countries from 1991 to 2016. Third, almost all countries' CO2 emissions significantly rise due to economic growth, while energy intensity reduces CO2 emissions to some extent. Energy exports increase CO2 emissions to varying degrees in Asia countries, but their impact has gradually fallen. Except for Europe, the population size effect increases CO2 emissions, especially in West Asia. China, India, Russia, and five OPEC countries show similar characteristics with the above regions. • The Tapio decoupling model is applied to analyze the CO 2 decoupling of 57 Belt and Road Initiative countries. • Five driving forces of CO 2 emissions are identified via the Kaya-LMDI model. • Spatiotemporal characteristics of decoupling and driving forces are highlighted. [ABSTRACT FROM AUTHOR]