Macroeconomic Impact of Bank Regulation and Supervision: A Cross-Country Investigation

Bank regulation and supervision (RS) is a formal institutional mechanism that aims to reduce the adverse selection and moral hazard risks in the banking sector. This paper offers an empirical exploration of the relationship between banking-sector performance and RS using data on the legal quality of bank regulation and supervision. The main channels via which RS affects bank performance are considered to be depositor trust, investment mobilization, and borrower discipline. An event study of up to fifty-three countries provides robust evidence that RS has significant positive effects on bank deposits and investment rate and significant negative effects on nonperforming loans.     

Intergenerational influence on sustainable consumer attitudes and behaviors: Roles of family communication and peer influence in environmental consumer socialization

Intergenerational research on sustainable consumption remains scarce, particularly in relation to which factors may affect the level of intergenerational similarity and the direction of intergenerational transmission. The present study addresses these gaps and adds to the growing body of literature in environmental consumer socialization by examining intergenerational influence on sustainable consumer attitudes and behaviors in a sample of 146 dyads comprised of mothers and college-age daughters. In the domain of intergenerational influence, we study two potential moderating factors suggested in past consumer research: communication effectiveness and peer conformity. Using the co-orientational model and nominal dyad method, we reveal the existence of intergenerational similarity in dyads' sustainable consumer attitudes and behaviors—after accounting for nominal effects— and show that stronger parent–child communication between mother–daughter pairs leads to greater intergenerational similarity, whereas stronger peer influence on daughters reduces intergenerational agreement. Our analysis further suggests the presence of reverse environmental socialization, in which intergenerational influence predominantly occurs from daughter to mother. Dyads' subjective knowledge regarding sustainable consumption provides empirical insights for this co-orientational model finding on reverse intergenerational transfer. Overall, outcomes of this study encourage marketing managers to leverage young-adult offspring in the process of communicating sustainable marketing strategies.     

Examination of the impacts of the immediate interest rate of the United States and the VIX on the Dow Jones Islamic Market Index

This study examines the effects of the market volatility index of the Chicago Board Options Exchange (VIX) and the immediate interest rate of the United States on the Dow Jones Islamic Market Index (DJIMI) using quantile-based techniques and wavelet coherence (WTC) analysis with monthly data for the period January 2010to May 2021. A quantile cointegration model indicated that the relationship between the VIX and the DJIMI can be valid in the long term since the estimated coefficients are negative and statistically significant across the quantiles 0.05 and 0.50, while a quantile autoregressive model revealed that large negative and positive changes in the VIX and the immediate interest rate of the United States do not have a significant impact on the DJIMI in the short term. Allowing the role of regime changes, it was found by the quantile regression model that an increase in the VIX lowers the performance in the DJIMI, supported by the WTC. It was also underlined that the DJIMI may not benefit from the positive financial conditions. According to the quantile regression models, the immediate interest rate of the US has asymmetrical effects, and the stabilizing effect of the increase/decrease is valid during bearish/bullish market conditions in the DJIMI.