دانلود مقاله ISI انگلیسی شماره 44294
عنوان فارسی مقاله

رفتار اخلاقی و اعتماد در رابطه با بازار سهام رشد

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
44294 2015 15 صفحه PDF سفارش دهید 6630 کلمه
خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.
عنوان انگلیسی
Ethical behavior and trustworthiness in the stock market-growth nexus
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Research in International Business and Finance, Volume 33, January 2015, Pages 44–58

کلمات کلیدی
سرمایه اجتماعی - رفتار اخلاقی - امانت - توسعه بازار سهام - رشد - اثرات آستانه
پیش نمایش مقاله
پیش نمایش مقاله رفتار اخلاقی و اعتماد در رابطه با بازار سهام رشد

چکیده انگلیسی

While formal institutional quality has been used to explain the finance-growth nexus, the role of social capital has not been fully addressed. The proposition of “better finance, more growth” is important amidst concerns over the erosion of ethics and trust in finance in the aftermath of the 2007/2008 global financial crisis. Using threshold estimation technique, this study examines whether the growth effect of stock market development differs according to the distinct levels of ethical behavior and trustworthiness in a cross-section of 73 jurisdictions during the post-crisis period. The results demonstrate that the impact of stock market liquidity on gross domestic product (GDP) and total factor productivity (TFP) growth is positive and significant only where there is high level of ethical behavior in firms. Similar effect is discerned in the case of strong trustworthiness and confidence. However, there is mixed evidence when formal institutional quality in the form of regulation and supervision of securities exchanges is considered. In terms of policy implications, this study upholds the “better finance, more growth” proposition and contributes to the identification of thresholds above which ethical behavior and trustworthiness can influence positively the relations between stock market development and macroeconomic performance.

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