The purpose of this study is to examine the behavior of bank lending in ASEAN economies. For this purpose, macroeconomic and bank related factors are identified from existing literature, defining the lending behavior. Data is collected from official sources like web pages, company’s annual report and online databases. A sample of five banking firm from four ASEAN economies is collected over 2011–2017 with annual observations. Regression analysis indicates the fact that both macroeconomic factors (GDP growth, inflation) are playing their significant role in defining the lending behavior of bank as measured through net loans and unused commitments. From bank related variables, liquidity ratio, risk, return on assets and equity are found to be significant determinant for bank lending. it is highly suggested that credit managers in banking firms, and related departments should use these findings as documentary evidence for the future decision making. Additionally, these findings are also useful facts for country administration, dealing with the macroeconomic factors and their direct influence on bank lending. However, various limitations are also observed which can be addressed in upcoming research studies. Sample size is limited to five banking firms from each state with seven years of time period. At second, specific macroeconomic and bank related measures are used which can be expanded in coming studies.
The objective of this study is to examine the effect of business size, market value of equity, required rate of return, systematic risk, debt ratio and total debt along with inflation on cost of capital for selected firms in five states of ASEAN region. Secondary data is collected during the time of 2000–2017 for ten firms in each country. Findings through regression analysis indicates the fact that significant determinant for fixed payment ratio is required rate of return, size, market to book ratio, systematic risk, and inflation are significant determinant. For interest covered ratio, key determinants are required return, total debt, and market to book ratio, size, and inflation. For dividend payment, size, debt ratio, inflation, and market value of equity. For interest payment, systematic risk, inflation, log market value of equity, size and market to book ratio are found to be significant determinant. These findings are providing a new insight in the literature of finance and financial management. Both theoretical and practical significance of the study can be viewed through provision of literature discussion and empirical findings. Policy makers, financial analysts, and other industry experts can utilize these findings as a meaningful source for strategic decision. However, future studies can be reconsidered remaining countries in ASEAN region and better sample size of the firms.
The purpose of this research is to examine the impact of macroeconomic indicators on tourism revenue from five states of ASEAN region. To address this objective secondary data is collected over last 18 years from 2001-2017 with annual observations. Macroeconomic indicators include inflation, oil prices, industrial growth, exchange rate stock market index, and gross domestic product over time. Method of the study is based on regression OLS estimation with robust standard errors. Empirical findings indicates that key determinants for the change in tourism revenue in selected countries are exchange rate, stock market index, inflation and industrial growth. However, impact of GDP on tourism revenue is also significant for Malaysia, Indonesia, and Brunei. Study findings can be very much beneficial for present decision-making regarding growth in tourism industry in ASEAN region. Limitations of the study includes less than 20 years of time duration, ignoring the microeconomic indicators of tourism revenue and cross-sectional analysis. Future studies can address these limitations which better understanding and practical implications.