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Financial systems generally operate under two different models: one where capital markets play a primary role in financial transactions and resource allocation (market‐oriented model), and another where banks are the central institutions for these activities (bank‐oriented model). The degree of investor protection afforded by the legal system varies across these systems. What is the most efficient alignment between financial structure and investor protection? This paper attempts to quantify the structural matching relationship between the financial structure and investor protection in various countries, and examines empirically the impact of this relationship on economic development. Using a sample of cross‐country panel data, it finds that the degree of structural matching was positively related to economic development. Both the combination of a securities market and strong investor protection and the combination of a banking system and weak investor protection can contribute to promoting economic development. It extends the law and finance theory framework, enhances the analysis of scenarios with weak alignment between financial structure and investor protection, explains the growth path of developing countries, and highlights the diversity and the dynamic nature of the optimal financial structure. [ABSTRACT FROM AUTHOR]

A company’s assets, based on the criterion of origin/resource, is divided into obligations to owners and obligations to partners. The first of these defines own sources of financing, while obligations to partners define external sources. Considering the allocation duration, we find resources with a duration of more than one year and resources with a duration of less than one year. Own sources of financing entail estimated opportunity costs or costs of the nature of dividends. Foreign sources of financing with a duration of more than one year entail precisely determinable costs, in the nature of interest, while those with a duration of less than one year are free, resulting from mutual negotiations, contracts, or from legislation. With a view to obtaining external sources, taking into account the interests involved, we aim at two aspects, namely the possibility of obtaining them and, in a causal relationship, the profitability of their use at the company level. All these aspects will be applied to and interpreted at the level of an internationally renowned company in the car manufacturing sector.

Copyright of Omer Halisdemir Universitesi Iktisadi ve Idari Bilimler Fakültesi Dergisi is the property of Omer Halisdemir University, Faculty of Economics & Admistrative Sciene and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Corporate indebtedness is a powerful tool in determining a company's financial health with impacts on its image and reputation. The main objective of this research is to study the determining factors in corporate indebtedness in Portugal. It also has the secondary objectives of creating clusters of companies' behaviour in relation to the use of credit and verifying their differences in relation to the characteristics of the companies. It uses a quantitative methodology based on a questionnaire survey of 1957 Portuguese companies. The results of the factor analysis show the formation of six determining factors in corporate indebtedness, namely the negotiating relationship with banks, financing, cycle and indebtedness, company operating performance, guarantees used to obtain bank financing and financing risk analysis as well as secondary forms of bank financing. The application of cluster analysis to the six factors formed led to the classification of companies into three clusters: the resilient financial cluster, the operational excellence cluster and the strategic financial cluster. There are several statistically significant differences in the corporate financing factors in relation to the clusters to which they belong. The evidence of the factors and clusters explaining company financing provides insights for improving credit access practices and for implementing public policies that facilitate access to credit and promote economic development. [ABSTRACT FROM AUTHOR]

Copyright of Pacha: Revista de Estudios Contemporáneos del Sur Global is the property of PACHA REVISTA DE ESTUDIOS CONTEMPORANEOS DEL SUR GLOBAL and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista Gestão & Tecnologia is the property of Revista Gestao & Tecnologia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of International Journal of Disciplines Economics & Administrative Scienves Studies is the property of International Journal of Disciplines in Economics & Administrative Sciences Studies and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study explores the complex connections between financial structure, financial flexibility reserves, and corporate innovation in the Chinese corporate context. Utilising a mixed-methods approach that combines theoretical analysis with empirical testing through regression analysis of survey data, the research reveals noteworthy insights. The findings indicate that the percentage of emerging finance has a positive impact on corporate innovation. Additionally, a well-balanced financing structure improves financial flexibility, which is essential for maintaining innovation efforts. In addition, the competitive nature of the banking industry plays a crucial role in promoting financial adaptability and, as a result, fostering corporate innovation. The study also emphasizes the importance of financial flexibility in the relationship between financial structure and innovation, indicating that firms' strategic management of their financial resources greatly influences their innovation capabilities. This research adds to the current understanding of finance and innovation, providing important implications for business leaders and policymakers. [ABSTRACT FROM AUTHOR]

This paper analyzes the relationship between size, age and scaling up processes in the sports third sector entities of the Valencian Region to find the patterns that lead them to grow and become social enterprises. The study is based on a field survey of 520 organizations. The results show that the majority of entities maintain simple organizational models and rudimentary financial structures that do not allow them to start growth processes, maintaining their original size. However, a smaller percentage of organizations (approximately 25%) enter in expansion processes, developing more complex financial structures, diversifying their sources of financing, generating mostof job creation in the sector and increasing their socioeconomic impact. Within these organizations, a total of three differentiated models have been found, the first arises from the alliance with public administrations, obtaining an important part of financing from the public sector and focusing its activities on offering sports services to citizens; the second is oriented to commercialize sports goods and services, obtaining a significant part of its funds from the market; thirdly, there are also organizations with a balance between their own, public and market financing, which show greater robustness by avoiding excessive dependencies on specific sources. Finally, the presence of a hybrid growth mechanism has been identified that is initially supported by public resources to boost and allow the internal development necessary to achieve the conversion of these organizations into social enterprises. [ABSTRACT FROM AUTHOR]

Background: Gains in improving bank efficiency have widely been regarded as one of the most effective means of ensuring sustainability in a financial system. Aim: It is proposed in this article to measure monetary policy impulses and the dynamic panel data model to examine the linear relationship. Setting: The nexus between financial structure and monetary policy impulses is analysed, considering 21 sub-Saharan African (SSA) nations during the time period from 2011 to 2022. Method: The Vector Autoregressive (VAR) analysis is employed to measure monetary policy impulses and the dynamic panel data model to examine the linear relationship. Results: A significant positive association between competition in the banking system and monetary policy impulses was found. Monetary policy impulses are inversely and significantly related to financial development. Also, the size of the central bank has a significant positive influence on the effectiveness of monetary policy. Conclusion: The financial structure has a significant role to play in the monetary transmission mechanism and credit markets help propagate and amplify shocks to the macro-economy. Contribution: The relationship between financial structure and monetary policy is not a one-way street as these variables tend to influence one another. Empirical literature on the subject is not very recent and come to differing conclusions, hence the rationale for conducting this article in SSA, employing both the structural VAR model and the dynamic panel data model.

The financial structure highlights the origin of the capital needed to finance the activity. Basically, it indicates the extent to which the company opts for equity and debt financing. It is difficult or even impossible to identify an optimal capital structure that is efficient for all firms in all fields of activity. Thus, the main objective of this paper is to identify the influence of the financial structure on the value of companies in the tourism industry. The value of a company is reflected by the efficiency of the activity it carries out. To the extent that it manages to obtain a higher profit, increase the value of the patrimony or use the resources at its disposal more efficiently, its value can be considered to increase. Another objective is to identify if during the pandemic the companies in the tourism industry changed their financial structure and also if during this difficult period there was a change in the influence that the financial structure has on the value of the company. The study carried out on the basis of information on 20 companies in the tourism industry, for the period 2008-2019 and 2020-2022, regarding the correlation between total liabilities, equity, leverage and the EPS (net profit/share) indicator, highlighted an impact moderate of the financial structure on the value of the company during the pandemic period.

Corporate indebtedness is a powerful tool in determining a company’s financial health with impacts on its image and reputation. The main objective of this research is to study the determining factors in corporate indebtedness in Portugal. It also has the secondary objectives of creating clusters of companies’ behaviour in relation to the use of credit and verifying their differences in relation to the characteristics of the companies. It uses a quantitative methodology based on a questionnaire survey of 1957 Portuguese companies. The results of the factor analysis show the formation of six determining factors in corporate indebtedness, namely the negotiating relationship with banks, financing, cycle and indebtedness, company operating performance, guarantees used to obtain bank financing and financing risk analysis as well as secondary forms of bank financing. The application of cluster analysis to the six factors formed led to the classification of companies into three clusters: the resilient financial cluster, the operational excellence cluster and the strategic financial cluster. There are several statistically significant differences in the corporate financing factors in relation to the clusters to which they belong. The evidence of the factors and clusters explaining company financing provides insights for improving credit access practices and for implementing public policies that facilitate access to credit and promote economic development.

Financial structure is the primary director of economic activity in a capitalist society, it also has an important societal role in encouraging investments that are beneficial to the natural and human ecosystems. To accomplish this objective, this study addresses the unattended symmetric linkages between financial structure, energy depletion, and environmental degradation using multiple ecological footprints ‘’ (built-up land, carbon land, cropland, fishing grounds, forest products, and grazing land)’’ as an indicator over the period 1985 to 2018 for Pakistan. By using these six indicators as separate regressands, this research quantifies the impact of financial structure and energy depletion by applying the newly developed Augmented Autoregressive Distributed Lag (AARDL) approach. The outcome reveals that financial structure decreases ecological footprints, similarly, energy depletion also decreases ecological footprints. Opposite to it, trade openness increases ecological footprints, while urban population decreases ecological footprints. Given these results, comprehensive environmental and financial structure development policies are directed to achieve environmental sustainable goals.

The financial structure highlights the origin of the capital needed to finance the activity. Basically, it indicates the extent to which the company opts for equity and debt financing. It is difficult or even impossible to identify an optimal capital structure that is efficient for all firms in all fields of activity. Thus, the main objective of this paper is to identify the influence of the financial structure on the value of companies in the tourism industry. The value of a company is reflected by the efficiency of the activity it carries out. To the extent that it manages to obtain a higher profit, increase the value of the patrimony or use the resources at its disposal more efficiently, its value can be considered to increase. Another objective is to identify if during the pandemic the companies in the tourism industry changed their financial structure and also if during this difficult period there was a change in the influence that the financial structure has on the value of the company. The study carried out on the basis of information on 20 companies in the tourism industry, for the period 2008-2019 and 2020-2022, regarding the correlation between total liabilities, equity, leverage and the EPS (net profit/share) indicator, highlighted an impact moderate of the financial structure on the value of the company during the pandemic period. [ABSTRACT FROM AUTHOR]

This study examines the effect of disclosure of intellectual capital in mediating the financial structure and performance of companies using path analysis method. This study also compares the effect of disclosing intellectual capital on companies listed on the Indonesian and Singapore stock exchanges from 2018 to 2020. A two-stage least squares statistical model is used to test the research hypothesis. The findings show that the financial structure in Indonesia and Singapore has a significant negative effect on financial performance. Meanwhile, financial structure has a significant negative effect on market performance only in Singapore, while Indonesia has no effect. Disclosure of intellectual capital which is used as a mediating variable on financial structure and performance has a significant positive effect in Singapore. Meanwhile, there is no significant effect on the relationship between financial structure and market performance after being mediated by disclosure of intellectual capital. This study can be used by managers as a starting point for designing more effective methods of using intellectual capital to gain competitive advantage through leverage. JEL: M41, O34.

The study seeks to find out whether financial structure matters in economic development. Using quarterly data from 1998 to 2018 from Ghana and with auto regressive distributed lag (ARDL)‐bound testing technique in the study found that financial structure is irrelevant for long‐term economic growth in Ghana. The finding of concurs with the complementarity view between the banks and the exchange and rejects that both subsectors are substitutes since financial services indicators were significance in influencing economic growth. In this vein the study concludes on the importance of financial services rather than structure. Based on these observations, the study recommends that policymakers should grow the synergy between the banks and the markets. [ABSTRACT FROM AUTHOR]

Building on social construction theory, this paper investigates how the presence of women on the board may affect access to credit because of lenders' gender-stereotyped views. In our view this translates into different levels of the firm's bank debt. To evaluate the impact of gender as a social construct, we designed a within-country analysis in Italy by distinguishing between egalitarian and non-egalitarian contexts. To test our hypotheses, we used a sample of 3514 Italian listed and unlisted firms. Results showed a lower level of bank debt for firms with a relevant number of women in the boardroom (i.e., critical mass) if located in a non-egalitarian context. This effect was partially mitigated in firms during a crisis situation. While extant research explains gender-based differences in a firm's financial structure by a change in inner-board mechanism/dynamics caused by differences in men/women characteristics, we argue that the social construction of gender may also induce lenders in different contexts to view boards with women differently in relation to access to credit. [ABSTRACT FROM AUTHOR]

This study was designed to determine the nature of the association between the financial structure decision and shareholders' wealth—dividend payments—of firms listed on one of the largest stock markets in oil‐based economies, the Saudi stock market. The study used panel data for all nonfinancial firms listed in Saudi Arabia's primary stock market (TASI) during the period from 2000 to 2018. The pooled ordinary least squares, quantile, generalized method of moments and U‐tests were conducted to evaluate the association between the financial structure decision and dividend payment. The preliminary findings revealed a positive effect of financial leverage on dividend payments using a linear model. However, when a nonlinear model was used, the study found a nonlinear relation between the financial structure decision and dividend payouts, which exhibited an inverted U‐shaped curve driven by levels of debt. This nonlinear relation verifies the tenets of the trade‐off theory of optimum debt level based on the costs and benefits of the debt. Further, the study found a negative influence of firm performance, size, and age on dividend payments. The outcomes of this study may provide useful insights for policymakers, managers, and lenders into the optimal level of financial leverage and efficient dividend policies. [ABSTRACT FROM AUTHOR]

1- INTRODUCTION Considering the role of the capital market in the economy of countries and studying the performance of this market has a particular importance. One of the factors that affect the performance of the capital market is the decisions made regarding the financial structure of companies’ performance in this market. Today, in fact, the credit rating of companies is largely dependent on their financial structure, or in other words, their capital structure, and in fact, the basis of production and service provision depends on the way financial funds are provided and used. On the other hand, the financial structure of each company is an early warning regarding the number of financial resources of the company, and it is necessary to determine the factors affecting their financial structure in the strategic planning of companies. Many variables affect the financial structures of stock companies, among which we can mention financing with Islamic instruments. Sukuk is one of the important financial instruments and conforms with the Islamic Shari'ah, which provide an alternative source of funding, especially for large (very active) companies, and more efficient sources compared to conventional bonds. 2- THEORETICAL FRAMEWORK In financial field, the way in which the company invests is called financial structure. Financial structure, or in other words capital structure, describes the long-term capital financing of a company, which represents debt and equity, and is a type of permanent financing that supports the growth of the company and related assets. One of the most important functions of the Islamic financial system is to facilitate financial flow and guide it towards the most efficient type of investment, and as a facilitator of financial flow, it gives producers the opportunity to move economic resources with greater speed and accuracy by relying on monetary and financial resources. The existence of these types of financial instruments increases capital efficiency and optimal allocation of resources in companies. Since Islamic financing can lead to global financial stability and economic growth; Therefore, wider access to financial services improves social participation and increases market power, and ultimately strengthens protective laws and solves problems and issues of financial development, and increases profitability and improves the financing process of companies. 3- METHODOLOGY This research is considered as applied research in terms of its objective; Because it examines the relationships between variables, the subject of the research is the Tehran Stock Exchange Organization in terms of location, and the time scope of the research is from the fiscal year 2010 to 2019 by using the annual data of the companies. The 83 companies were selected as the statistical sample used in the research. In order to estimate the effects of the variables, the panel data technique with Johnssen's approach is used. In this research, the variable of financial structure is used as dependent variable and the variables of ejare sukuk, murabaha sukuk, sode sukuk, istisna sukuk and mosharekat sukuk are used as explanatory variables. 4- RESULTS & DISCUSSION According to the empirical results of this study, all new Islamic financing instruments had a positive effect on the financial structure index (ratio of capital to assets). In the long run, ejare sukuk, murabaha sukuk, sode sukuk, istisna sukuk and mosharekat sukuk explain 7.06, 20.32, 0.07, 3.32 and 0.84 percent respectively, of the changes in the financial structure index. 5- CONCLUSIONS & SUGGESTIONS The present study investigates effectiveness of the financial structure of listed companies from new Islamic financing instruments (Sukuk) by using the panel data technique with the Johanssen approach. For this purpose, the data of 83 listed companies on the Tehran Stock Exchange has been used during the years 2010 to 2019. According to the research results, instruments had a positive effect on the financial structure index (ratio of capital to assets). Accordingly, the issue of sukuk can significantly improve the financial structure of companies. Companies should use a complete combination of modern financing tools (Sukuk) to achieve benefits such as increasing liquidity, increasing shareholders' wealth and increasing diversity in financing sources. [ABSTRACT FROM AUTHOR]

Copyright of Finance & Business Economies Review is the property of Finance & Business Economies Review and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Çatalhöyük International Journal of Tourism & Social Research / Çatalhöyük Uluslararası Turizm ve Sosyal Araştırmalar Dergisi is the property of Catalhoyuk International Journal of Tourism & Social Research and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Journal of Shenzhen University Humanities & Social Sciences is the property of Journal of Shenzhen University (Humanities & Social Sciences) Editorial Office and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The aim of the article is to analyze the impact of the concept of familiness on the financing of French firms. In this respect, three factors are considered. The first one is about the presence of a family CEOs.The second deal with the presence of a family member and the third comes with transgenerational succession. Such an effect is highlighted by using a sample of 100 unlisted French family firms over the period 2003–2012. The results show that the involvement of the concept of “familiness” in family firms leads to a different financial structure from other firms. The ownership structure adopted by family CEOs and transgenerational succession improve debt. On the other hand, the presence of a family member on the board of directors does give significant results; the negative coefficients demonstrate reluctance regarding debt. A possible explanation for the paradox is that the capital structure of French family firms is specific.

Copyright of Retos, Revista de Ciencias Administrativas y Económicas is the property of Universidad Politecnica Salesiana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Clean energy is an essential means to limiting carbon emissions and improving economic transformation, and a market-oriented financial structure is the inevitable result of the deepening of supply-side financial reforms. Exploring whether clean energy enhances carbon emission efficiency (CEE) through financial structural adjustment is essential in formulating policies intended to achieve the dual goals of "carbon peaking" and "carbon neutrality". As part of the evaluation of China's provincial CEE using panel data of 30 provinces from 2000 to 2019, this paper adopts an improved nonradial directional distance function (NDDF), while empirically analyzing the influence of clean energy and a market-oriented financial structure on CEE using a spatial econometric model. The results indicate the following findings: (1) The provincial CEE in China is characterized by significant spatial autocorrelation. (2) A 1% increase in the integration of clean energy and a market-oriented financial structure leads to a 0.0032% increase in the local CEE and a 0.0076% increase in neighboring regions' CEE through the spatial spillover effect. Clean energy can efficiently enhance CEE through the stock market, while it has a passive impact through bank credit. (3) The interactive effect between clean energy and a market-oriented financial structure varies according to the provincial CEE. From the 25th to the 90th quantiles, the role of clean energy in promoting CEE through the capital market is very significant, while clean energy inhibits CEE through bank credit in most provinces. Therefore, China's clean energy development will bolster its competitiveness in the global market through a market-oriented financial structure that will bring economic development and environmental pollution into balance and provide a theoretical foundation for China's double carbon reduction. [ABSTRACT FROM AUTHOR]

The emitted levels of CO2 continue to be a striking topic. These emissions have been growing over the years, thus, making them a predicament to be reckoned with. Eradicating such a predicament has not been easy because finding an optimal determinant has not been achieved by scholars; however, foreign direct investment inflows are known to play a role in such varying instances. Therefore, to analyze the impact that such inflows have on CO2 emissions, this study employs data from 41 African countries from 2005 to 2019 and aims to assess how foreign direct investment and other variables influence CO2 emitted levels. Moreover, this study tests the validity of the pollution haven and halo hypotheses on the employed African countries as its two main objectives. After applying the pooled least squares, fixed and random effects models, and the generalized method of moments, the findings revealed that per the adopted African countries, the pollution haven and halo hypotheses do not hold; however, foreign direct investment inflows contribute to the rising and falling levels of CO2 emissions. In addition, the financial structure and per capita GDP increase the African countries' CO2 emitted levels, while trade openness causes a reduction. Based on the aforementioned findings, this study recommends that the government, policy-makers, industries, and interested personnel of this study's employed countries should: apply and execute policies, laws, and regulations that will deter or punish polluting foreign investment and encourage clean ones; since green finance is making waves but is not well established in most African countries, green financing systems should be initiated and implemented; establish preferential trading policies that will highlight an addition of value via clean technology; and practice carbon capture, usage, and storage. [ABSTRACT FROM AUTHOR]

This study aims to establish which sources of financing were used and the relevance of different banking products for Portuguese companies during the pandemic. We also intend to understand the determinants of companies' financing options and what lies behind their decisions concerning the appropriate level of debt. A quantitative methodology was used, based on a questionnaire given to Portuguese companies to analyse different financing issues. The sample was composed of 1957 companies with a business volume of more than EUR 500,000 per year. The results show that Portuguese companies focused on managing liquidity and corporate risk. We found evidence that companies kept financing themselves by banking products such as in the pre-pandemic period, although 29.6% resorted to the LAE-COVID economy support line. Companies decide on the appropriate amount of debt based on the nature of the business, the phase of the life cycle in which the company is, the cash flows' volatility, accounting results, credit rating, and fiscal benefits. Academicians and companies should master the concept of company financing and adopt strategies to consider the level of debt and refine the banking products to be used. Although the literature on business financial management usually claims that all crises are the same, the COVID-19 pandemic not only caused a recession but also forced people and companies to adapt to a new environment. Portuguese companies have shown resilience and focus on their adoption of good financing practices. [ABSTRACT FROM AUTHOR]

Objective:To achieve high levels of health, identifying the nature of health and also the factors affecting it have the most important role. If the factors threatening health and their importance are not identified, the measures taken to promote the health of the individual and society will be taken in an atmosphere of doubt. On the other hand, the limited resources of some countries (especially poor and needy countries) have been allocated over the years in a way that has only resulted in reduced health and increased mortality. Thus, such questions have always been asked by economists and policymakers: what factors can affect the level of life expectancy? And what is the role of the financial structure in this regard?Economists and policymakers have paid close attention to finding the optimal method and mechanism for promoting public health, and in recent years these efforts have had valuable effects on human health and well-being in many parts of the world. The level of increased life expectancy depends on how countries invest in improving social indicators such as health, education, retirement plans, health programs, food facilities, and improving the environment. The health status of people in the community is one of the things that health policy makers are always looking to improve. Life expectancy index is one of the components that shows the extent to which countries have achieved the goals of the health sector. The life expectancy variable is affected by several economic and social factors. In this regard, the present study intends to study the effect of factors affecting life expectancy with emphasis on financial structure.Methods: Financial structure has important effects on life expectancy. These effects have been positive in some studies and negative in others. However, it is not possible to comment from the outset on the effects of financial structure on life expectancy. So the question is, what effect has the financial structure had on life expectancy in selected countries? To answer this question, the present study tries to use the combined data method to determine the effect of financial structure on life expectancy in selected Islamic countries (including: Iran, Turkey, Azerbaijan, Pakistan, Qatar, Oman, Bahrain, UAE). Study the United Arab Emirates, Saudi Arabia, Kuwait, Iraq, Jordan and Malaysia). In this research, data and information of selected countries in the period 2000-2020 have been extracted from the World Bank database and the research model has been estimated using the Cup-FM method.Although several methods have been proposed to examine the panel co-integration relationship between variables, most of these methods only discuss the existence or absence of the relationship and do not provide information about the co-integration vector. To address this shortcoming, several methods have been proposed, including the Cup-FM method. Bai and Cao (2006) proposed the Cup-FM method, which uses a factor structure to determine the source of the cross-sectional dependence and presents the aggregate vector. This method calculates the coefficient vector coefficients by estimating the parameters and the long-term covariance matrix and the factor loads in reverse. This estimator, like the FMOLS estimator, is resistant to successive autocorrelation bias and endogenous bias, and in addition, is indifferent to the meaning and anonymity of the explanatory variables.In this study, based on research experiences to investigate the effects of financial structure on life expectancy, the regression model used in Chireshe (2018) research has been modeled, so the model used in the leading research is as follows:Where LEit is life expectancy at birth, FSit is a variable of financial structure (loans to the private sector by the banking system as a percentage of GDP), Eit is energy consumption (kg equivalent of crude oil), PGDPit is GDP per capita and HEXPit is health expenditure ( Percent of GDP). Uit is also a regression disorder about which the classical assumptions are true. All data related to the model variables can be extracted from the World Bank database and the research model estimation method in this article is the data panel method. Results: According to the research results, the effect of GDP growth at a fixed price on life expectancy is positive and indicates that with increasing economic growth, people have been able to invest more in education, improve their nutritional conditions and health facilities. Better and use more. Hence, GDP growth has a positive effect on people's life expectancy. This effect is statistically significant at the significance level of 5%. The effect of credit granted to the private sector by the banking system as a percentage of GDP on life expectancy is positive and these effects are statistically significant at the level of 5%. Because people, especially low-income or middle-income people, have been able to use bank credits and improve their economic activities by improving the financial system. This in turn can increase the use of educational and health services by these people and increase their quality of life and life expectancy. In contrast, the effect of energy consumption on life expectancy at birth is negative and this effect is statistically significant at the level of 5%. Because energy consumption, especially in recent years, causes more greenhouse gas emissions and environmental pollution, which can have a negative impact on health and life expectancy. Also, the effect of health expenditures (as a percentage of GDP) on life expectancy is positive and this effect is statistically significant at the level of 5%. Because high health expenditures lead to more and better health and medical services in the country and increase people's life expectancy.Conclusion:According to the research results, to achieve superior health status, the development of financial structure should be part of health policies and strategies in countries, and the goal of policies should be to deepen and expand the financial sector to ensure inclusive financial development.

Energy is the material basis of human progress and development. Economic expansion and improvement of economic expansion level need energy as support and improve energy efficiency. The rapid economic community growth of various countries cannot be separated from the support of energy, which is not only the motive force of rapid economic expansion, but also the material basis for promoting the continuous progress of human society. The short-term financial structure is developing rapidly, while the long-term ecosystem is obviously lagging behind. Seen from the background of the improvement of China’s financial structure development level, these major financial events shining with the wisdom of reform and innovation have promoted the tortuous rise of the financial structure development level. The improvement of economic level promotes the improvement of financial structure in all aspects, thus forming a virtuous circle between financial structure and energy economic expansion. Based on the coupling coordination model, this paper studies the relationship between financial structure and energy economic expansion and the difference of coupling coordination degree, aiming at realizing the optimization of financial structure quality, promoting the sound development of financial business and promoting the coordinated economic expansion.

This research builds on previous studies in the field of financial structure and develops knowledge for the construction industry in eight selected countries in Central and Eastern Europe – Visegrád Group, Austria, Bulgaria, Slovenia, and Romania. The aim of the research is to examine the influence of profitability, asset structure, the GDP growth rate and the reference interest rate on the level of total, long-term and short-term debt of companies. The research period is from 2009 to 2018. The main conclusion of the research is the finding that the amount of debt of selected construction companies is most affected by the determinants of the external environment – the development of the economy and the reference interest rate. This conclusion applies regardless of the size of the companies. The direction of the resulting impact differs, as each of the economies underwent a different economic development during the period under review. The interest rate negatively affected the amount of debt of Polish, Romanian and Hungarian companies, given the higher interest rates in these economies; the remaining companies have a positive impact. The impact of the GDP growth rate on the amount of debt is mainly negative for Romanian companies regardless of size, medium-sized Polish and Austrian companies, and large Czech companies; a positive effect was found for the remaining companies. Economies have grown for most of the period under review, and negative impacts may mean taking advantage of profits, which usually grow during periods of prosperity and are a cheap source of funding. This does not necessarily mean economic problems and, as a result, declining debt due to the unavailability of debt financing.

The Financial Kuznets Curve (FKC) is a variant of the renowned Kuznets Curve and a counterpart to the Environmental Kuznets Curve. In this paper, we examine the financial Kuznets curve hypothesis—based on annual data for 20 developed and developing countries—using the Phillips and Hansen (1990) fully modified ordinary least square (FMOLS) and the unobserved components model (UCM). The results correspond to the current divergence in the empirical literature and show support for the inverted U-shaped curve as well as the U-shaped curve, in more than half of the sample countries. The estimated turning points differ significantly across countries and depending on the measure of financialisation used. Overall, the findings of this research suggest that there is no uniform effect of financialisation on income inequality. The results vary according to the level of economic development, financial structure, and potentially other factors that have not been considered in the empirical analysis provided in this paper.

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Copyright of Journal of Research in Finance & Accounting is the property of Journal of Research in Finance & Accounting and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In this paper, we investigate if negative effect of geopolitical risk on economic growth reduces with the financial structure of emerging economies. Although previous studies do not find market-based structure to boost economic growth, we cast a light upon why countries still opt for shifting to that structure. We mainly utilize panel autoregressive distributed lag (ARDL) for the period between 1985 and 2021 and employ country-based geopolitical risk (GPR) indices for 15 emerging markets. Findings depict that market-based structure reduces negative impact of geopolitical risk on economic growth, which might be attributed to increasing transparency and hence investors feeling less hesitant in investing market-based economies. On the other hand, we also show that market-based system reduces the adverse effects of GPR on consumption, whereas bank-based system has the same effect on investment growth in the long-run. Therefore, our paper asserts that the financial system is not irrelevant in terms of growth perspective, if the geopolitical risk is a key factor for an emerging country. [ABSTRACT FROM AUTHOR]

For national development, the investment efficiency of listed companies should be improved. We take samples of non‐financial and non‐real estate listed companies to investigate the mechanism of financial liabilities on the inefficient investment behaviour of listed companies from a financial structure perspective. Results of our empirical research indicate an inverted U‐shaped relationship between financing liabilities and investment efficiency, and that financing liabilities inhibit underinvestment and exacerbate overinvestment. Operating liabilities were found to have a restraining effect on underinvestment. A bank‐led financial structure is more effective in regulating financing liabilities and alleviating overinvestment, while a market‐led financial structure is more conducive to regulating financing liabilities and, thus, curbs underinvestment. Therefore, a company's financial structure should be adjusted in a timely manner, according to demand, the scale of financial liabilities should be adjusted to reduce inefficient investment, and operational liabilities can be appropriately expanded. Additionally, attention should be focused on the role of administrative intervention and financial development to improve the investment efficiency of listed companies and eventually realise stable development of the national economy. [ABSTRACT FROM AUTHOR]

The study estimates whether the role of non-banking financial institutions in managing economic vulnerability contributes to whether non-banking financial institutions' role in managing economic vulnerability contributes to higher economic welfare at the public level in Pakistan. The empirical estimation is carried out on secondary data ranging from 1990 to 2020. Using autoregressive distributed lag estimation technique, short-run and long-run effects on non-banking financial institutions are examined. The study contributed to the following: the short- and long-run connection between economic development and non-banking financial institutions (NBFIs) was found, while an experimental outcome indicated a causal connection between NBFIs and financial development improvement. Moreover, the non-banking financial institutes reduce the economy's real sector due to excessive risk in the financial sector. Our results reveal a correlation between non-banking financial integration and economic growth changes related to an expansion in loan recipients. The nominal interest rate significantly explains the economic growth of Pakistan. NBFI part in the liquidity procedure of budgetary resources is said to be in charge of financial development in creating nations. General consequences of the examination on NBFIs demonstrated a positive effect on the financial development of Pakistan. From policy viewpoint, the study suggests multiple policy implications to the practitioner of non-banking financial institutions and the national economy to curtail the adverse effects of economic vulnerability on national economic welfare in the public. [ABSTRACT FROM AUTHOR]

In this era of globalization, each nation endeavors to attain sustainable growth by addressing environmental challenges. In recent decades, extensive human activities have significantly depleted natural resources, and the ecological footprint provides an effective measure to evaluate this impact. Therefore, by accounting for industrialization, urbanization, and export diversification and covering the dataset of Pakistan from 1985 to 2022, this research thoroughly analyzes the connection between financial structure and ecological impact. Another concern with the existing study is that most previous studies neglect the importance of the ecological footprint when assessing the financial structure as a source of environmental change. The dynamic Autoregressive Distributed Lag (DARDL) approach was applied to ascertain the empirical results. The findings indicate that financial structure exhibits an inverted U-shaped pattern in relation to the ecological footprint. It signifies that a pragmatic financial structure diminishes the ecological footprint. Moreover, industrialization and urbanization upsurge the ecological footprint while export diversification decreases. In the future, the government's duty to promote sustainable development should be reinforced by using eco-friendly technologies to ensure the proper sinking of financial resources and bolstering the role of the financial system in supporting sustainable development. [Display omitted] • The long-run association among the indicators is tested using the dynamic ARDL test. • EKC Hypothesis is validated for EFP, showing the positive impact of FS on the environment. • FS increases environmental conservation while industrialization substantially disrupts the environment. • Export diversification also fosters environmental sustainability. [ABSTRACT FROM AUTHOR]