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It is well acknowledged that achieving sustainable development goals without negatively impacting a country’s economic activity is complicated. The question of whether foreign or domestic capital can be used to address the financial demands of the nations who lack the financial resources for a green transformation should now be resolved. Based on this, the main goal of this research is to analyze the impacts of domestic and foreign capital on carbon emissions for a heterogeneous panel of 42 countries for the period from 1990 to 2017. Aside from capital accumulation, the environmental impact of elements such as economic growth, urbanization, trade openness, and energy usage is also studied. The newly developed quantile via moment approach is utilized to isolate the impacts according to the countries’ emission levels. Finally, the impact of these variables on the recently constructed sustainable development index is investigated in order to ensure its robustness. The findings of the study reveal that the environmental efficiency of domestic capital accumulation in countries with low emission levels is higher than in countries with high emission levels. Foreign capital, on the other hand, has no substantial effect on emission levels in all quantiles.

This research article examines the impact of stock market capitalization on carbon emissions using forty high carbon-emitting countries from 1996 to 2018. This study adopts the Driscoll-Kraay method that simultaneously tackles heteroscedasticity, autocorrelation, and contemporaneous correlation issues. We find an inverted U relationship between stock market capitalization (SMC) and environmental degradation. We propose an extended environmental Kuznets curve based on SMC while energy intensity, industrialization, and urbanization increase emissions in sample countries. The quadratic method, SLM test, and derivative graphing detect the consensus of the inverted U relationship. The weak-negative SMC2 coefficient reveals that the dangerous impact of capitalization declines gradually and finally curbs the environmental degradation challenges. The relationship is strong in highly polluted countries with overvalued stock markets. The study catches no policy synergies between the growing stock market and increased carbon emissions. Stock market capitalization should be integrated into climate change adaptation strategies at national and regional levels, primarily to address the dark effect of environmental degradation.

Purpose: The study aims to evaluate the impact of exchange rate volatility on the indicators of stock market, such as the returns, capitalization, liquidity, transaction volume, based on the Nigerian evidence.   Theoretical framework: The paper considers extant model of exchange rate-stock market interactions. Because the diversity of the market is important the paper follows suggestions by El-Wassal (2013) to examine variety of stock market indicators in order to offer accurate depiction of how the stock market drives exchange rate volatility.   Design/Methodology/Approach: The study employs a simple static regression model of stock market indicators with autoregressive adjustment component which absorb autocorrelation. The models are tested on annual data (1985-2020).   Findings: The study finds that the exchange rate volatility has negative impact on stock market development - returns, capitalization and volume. The paper reveals further that other correlated controls factors impinge different impacts on the stock market indicators.   Research, Practical & Social implications: One implication of the finding is that the volatility may discourage investors, reduce firm performance, and lead to reduction on the returns of firm shares. Policy makers should put in place growth-inducing infrastructural investments to make the business environment more conducive to attract foreign capital, while also positioning the capital market with several initiatives to increase trading activities.   Originality/Value: The connection between the foreign exchange and financial markets is of policy importance. Although the focus is on the Nigerian markets, the evidence could be extended to other African and global markets, to serve as guide to foreign investors.

This study investigates how repo rates and the nominal effective exchange rates affect stock market capitalization between 2016M1 and 2022M1, with a focus on the threshold level of investment in artificial intelligence. To analyze the data, econometrics techniques were employed. The Augmented Dickey-Fuller test confirmed that while market capitalization and repo rates became stationary after the first difference that of investments in artificial intelligence and the nominal effective exchange rates were stationary at level. A threshold model identified the threshold level of investment in artificial intelligence. The findings indicate that repo rates and the nominal effective exchange rates positively influence stock market capitalization when the threshold level of investment in artificial intelligence is below 7.7647. However, above the threshold, repo rates and the nominal effective exchange rates negatively affect stock market capitalization. This study concludes that the negative impact of the repo rates and the nominal effective exchange rates on stock market capitalization at higher levels of investment in artificial intelligence should be internalized through government subsidies that reduce the production cost of firms. However, the SARB should consistently manage the exchange rates from growing out of proportion.

The progress of financial markets depends on the way world investors foresee the market potential of the country of choice. Countries that are associated with favorable economic incentives are able to motivate investments in their respective stock markets. The objective of this paper is to examine the role of the many economic components which constitute the Market Potential Index in enhancing stock market progress. The methodology goes through testing and estimation. The tests include linearity versus nonlinearity (RESET), normality, and cointegration. The estimation includes cointegration regression and discriminant analysis to distinguish between high and low stock market progress. This study examines unbalanced panel data that covers the years 1996–2022 for 54 countries where a stock market exists. The results show the following: (a) increases in people’s expenditure result in decreases in consumption of investment in financial securities; (b) the investments in infrastructure technology is positively associated with stock market progress; (c) the positive effect of economic freedom indicates that further adaptive trading regulations are beneficial to stock market progress; (d) increases in imports consume large proportions of people’s income, coming at the expense of investment in financial securities; (e) stock markets that are associated with high country risk are characterized by a positive risk–return tradeoff, i.e., a high risk premium; (f) the stock markets listed in the MPI can reach high progress by improving three indicators, namely commercial infrastructure, market receptivity, and country risk. This paper offers a thorough and unique examination of the institutional arrangements and stock market progress. The paper offers a guide to policy makers about how economic institutional arrangements can be promoted in order to reach high stock market progress.

As a part of their strategic transactions, corporations often acquire stakes in other companies that do not grant them control, but allow them to use their resources to increase their profitability, access technological progress and innovation, develop products, or obtain dividends. The main objective of this paper is to identify the factors influencing the behavior of acquirers who buy securities in the capital of the target companies, listed on Bucharest Stock Exchange, without intending to control them. The study aims to describe two dimensions of the buyers' behavior, when they buy shares that do not lead to the control of the target companies (below 50%). The first dimension refers to the buyer's decision to invest in a certain share of capital, influenced by the profitability of the target company and its market capitalization (dimensions of their performance), but also by the audit opinion on the annual financial statements. The relationship is positive and significant. The second dimension focuses on the decision of the acquirers to invest or not in a blue-chip company (top companies, considered the most efficient and stable on the financial market), with the main purpose of obtaining dividends or trading the respective securities on the capital market, in order to generate cash flows. The result shows that investors buy small shares in blue chip companies, compared to other companies, taking into account their performance and the audit opinion on the annual financial statements.

The Indonesian stock market is a growing financial industry that plays a strategic role in the growth of the country’s economy. Its development is affected by various factors. This study examined the impact of the exchange rate, gross domestic product (GDP), interest rates, inflation, foreign portfolio investment (FPI), and domestic political stability on stock market capitalization. Quarterly data between 2000:Q1 and 2020:Q4 are used. The autoregressive distributed lag (ARDL) method is applied to identify long-run relationships between variables. To understand how fast the system reaches equilibrium after a shock, the model also examines short-run relationships using an error correction model (ECM). The findings show that the impact of exchange rate, interest rate, and inflation on stock market capitalization is negative in the long run. While the GDP, FPI, and political stability are positive. Increment in the US Dollar against the Indonesian Rupiah, interest rate, and inflation by 1% respectively, caused stock market capitalization to fall by 1.31%, 0.06%, and 0.04%. A rise in GDP, FPI, and political stability by 1% respectively, increases the stock market’s value by 1.17%, 1.08%, and 1.28%. In the short run, the coefficient of ECM indicates the speed of adjustment of the system: the occurrence of the shock to reach long-run equilibrium is quick enough, at 63.8% each quarter. The study recommends governments evaluate the impact of these factors when formulating monetary policies, promote economic growth, and continuously implement good governance, thus supporting stock market development.

This research investigates how the USA's load capacity factor (LCF) has been impacted by trade openness, financial development, stock market capitalization, and industrialization over the period 1990–2022. This study also tests the “Load Capacity Curve (LCC)” hypothesis. Various unit root tests were conducted to determine the stationarity of the dataset, revealing that the variables are free from unit root problems and exhibit mixed orders of integration. The “Autoregressive Distributed Lag (ARDL)” bounds test confirmed co-integration among the variables. The results from the ARDL model validated the existence of the LCC hypothesis in the USA. The findings also demonstrated that industrialization is positively correlated with LCF, whereas financial development, stock market capitalization, and trade openness are negatively correlated with LCF. To ensure the robustness of the ARDL estimations, the study also employed several regressions, all of which confirmed the validity of the ARDL results. Additionally, pairwise Granger causality tests revealed unidirectional causal relationships between GDP and LCF, stock market capitalization and LCF, and industrialization and LCF, while no causal relationships were found between financial development and LCF and trade openness and LCF. The findings advocate that the USA should advance eco-friendly industrial practices to ensure environmental sustainability, alongside regulated financial markets and institutions that mandate the utilization of green investments.

Inequality in income distribution has increased in recent decades while households have seen their relationship with the financial sector deepen, raising the question of whether there is a causal relationship between the two phenomena. This paper studies how changes in house prices, private credit, and stock market capitalization affect income inequality. Dynamic panel data methods are used on an unbalanced panel of 57 advanced and emerging economies between 1998 and 2018. The results point to a positive impact of an increase in these variables on both the Gini coefficient of disposable income and the share of top incomes. Overall, the evidence indicates that the development of the financial sector and its consequent extension to households has been a driver of income inequality. The results are robust to different measures of house prices, different econometric specifications, and control variables.

'Investor Protection and Corporate Governance' analyzes the impact of corporate governance on firm performance and valuation. Using unique datasets gathered at the firm-level—the first such data in the region—and results from a homogeneous corporate governance questionnaire, the book examines corporate governance characteristics, ownership structures, dividend policies, and performance measures. The book's analysis reveals the very high levels of ownership and voting rights concentrations and monolithic governance structures in the largest samples of Latin American companies up to now, and new data emphasize the importance of specific characteristics of the investor protection regimes in several Latin American countries. By and large, those firms with better governance measures across several dimensions are granted higher valuations and thus lower cost of capital. This title will be useful to researchers, policy makers, government officials, and other professionals involved in corporate governance, economic policy, and business finance, law, and management.