Suchergebnisse

To assess the nexus between financial development and economic growth in Mexico, we used an ARDL model over the period of 1978-2019. Domestic credit to the private sector is used as a proxy for the banking sector development; value of shares traded is used as a proxy for the financial market development. In the long-run, we find that the banking sector development has a positive impact on growth; an increase by 1% in the banking sector development causes an improvement of 0.098% in growth. Moreover, we find a negative relationship between the stock market development and growth; where an increase by 1% in the stock market development causes a decrease by 0.046% in growth. Findings from this paper suggest that Mexican authorities should accelerate in priority the financial reforms of the stock market, and reinforce the regulatory environment in order to stimulate economic growth in the long-run.

Abstract:This study aims to identify the effect of unexpected political-events on Saudi stock market returns based on the efficient market hypothesis (EMH) assumptions. The disappearance of the Saudi journalist Jamal Khashoggi in Turkey is the political event has been determined in this study. The data collected from ten companies traded in the Saudi stock market which accounted for more than 62 percent of the total market capitalization. However, this paper applied the Event Study Methodology. The results showed that the Saudi stock market initially reacted to the event and tried to absorb the information received but could not correct itself in most of the window event period. It seems that the market did not get the relevant news quickly or clearly. So, the information that flow among traders was not readily available for the investors at the same level and time. Ultimately, the Saudi stock market is described as a weak-form market (inefficient).Keywords: Unanticipated political events, the stock market, expected returns, abnormal returns, cumulative returns, event study methodologyAbstract: This study aims to identify the effect of unexpected political-events on Saudi stock market returns based on the efficient market hypothesis (EMH) assumptions. The disappearance of the Saudi journalist Jamal Khashoggi in Turkey is the political event has been determined in this study. The data collected from ten companies traded in the Saudi stock market which accounted for more than 62 percent of the total market capitalization. However, this paper applied the Event Study Methodology. The results showed that the Saudi stock market initially reacted to the event and tried to absorb the information received but could not correct itself in most of the window event period. It seems that the market did not get the relevant news quickly or clearly. So, the information that flow among traders was not readily available for the investors at the same level and time. Ultimately, the Saudi stock market is described as a weak-form market (inefficient).Keywords: Unanticipated political events, the stock market, expected returns, abnormal returns, cumulative returns, event study methodology.

Context
Understanding the ecological impacts of the palm-oil industry on native fauna requires information on anthropogenic threats that may cause species decline or local extinction.

Aim
The main aim of the study was to assess wildlife deaths caused by illegal hunting, road accidents and introduced predators in established oil-palm landscapes in Peninsular Malaysia.

Methods
Between April and October 2009, we interviewed 362 oil-palm workers at 36 sites, including large industrial estates and semi-traditional smallholdings.

Key results
Our results showed that (1) illegal hunting by oil-palm workers in different oil-palm management systems was not statistically significant (P = 0.097), (2) native fauna were more often destroyed as pests in smallholdings than in conventional and eco-friendly plantation estates (P = 0.005), (3) non-local poachers conducted illegal activity more often in smallholdings than in conventional and eco-friendly plantation estates (P = 0.011), (4) road accidents were reported to kill more native fauna in conventional plantation estates than in smallholdings and eco-friendly plantation estates (P < 0.001) and (5) feral dogs were reported as killing more native fauna in eco-friendly plantation estates than in conventional plantation estates and smallholdings (P = 0.034).

Conclusion
In addition to the conversion of native forest to oil-palm monocultures, various other anthropogenic threats can have a substantial effect on wildlife in oil-palm landscapes.

Implications
To improve the conservation value of oil-palm landscapes, we recommend that palm-oil stakeholders should implement anti-poaching patrols, organise conservation programs to educate workers, reduce vehicle speeds on roads within oil-palm landscapes, and control local populations of feral dogs.