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PROF Victor Murinde's Outputs (89)

CEO power, bank risk-taking and national culture: International evidence (2023)
Journal Article
Pour, E. K., Uddin, M., Murinde, V., & Amini, S. (2023). CEO power, bank risk-taking and national culture: International evidence. Journal of Financial Stability, 67, Article 101133. https://doi.org/10.1016/j.jfs.2023.101133

Using unique hand-collected data for 336 large banks across 48 countries, together with values of national culture, our empirical analysis uncovers three new robust findings. First, variations of bank risk-taking across national culture and CEO power... Read More about CEO power, bank risk-taking and national culture: International evidence.

Private capital flows and productivity in Sub-Saharan Africa: does the capital allocation puzzle matter? (2023)
Journal Article
Bationo, F. D. B., Griffith-Jones, S., Murinde, V., Soumaré, I., & Tyson, J. (2024). Private capital flows and productivity in Sub-Saharan Africa: does the capital allocation puzzle matter?. Applied Economics, 56(38), 4576-4593. https://doi.org/10.1080/00036846.2023.2212969

The puzzling relationship between foreign private capital flows and productivity remains unresolved. We attempt to resolve the puzzle by extending the literature to investigate the effects of the flows across heterogeneous recipient sectors, using a... Read More about Private capital flows and productivity in Sub-Saharan Africa: does the capital allocation puzzle matter?.

Mobile money, ICT, financial inclusion and growth: How different is Africa? (2023)
Journal Article
Ahmad, A. H., Green, C. J., Jiang, F., & Murinde, V. (2023). Mobile money, ICT, financial inclusion and growth: How different is Africa?. Economic Modelling, 121, Article 106220. https://doi.org/10.1016/j.econmod.2023.106220

We investigate the contributions of fixed and mobile telecommunications (ICT) and mobile money to economic growth and financial inclusion in a 22-year panel of 146 countries. We extend the Solow growth model to include human capital, money, ICT, and... Read More about Mobile money, ICT, financial inclusion and growth: How different is Africa?.

Mandatory and voluntary credit information sharing among banks (2023)
Thesis
Ighedosa, J. Mandatory and voluntary credit information sharing among banks. (Thesis). SOAS University of London

Credit information sharing schemes, which are either mandatory because they are a regulatory requirement of the central bank or voluntary in the sense of being discretionary as a private arrangement among peers, are aimed at reducing asymmetric infor... Read More about Mandatory and voluntary credit information sharing among banks.

Fellowship amongst peers: A single country analysis of the effects of bank governance and competitiveness on interbank market microstructure (2022)
Thesis
Ikimalo, A. Fellowship amongst peers: A single country analysis of the effects of bank governance and competitiveness on interbank market microstructure. (Thesis). SOAS University of London

The aim of this study is to examine the market microstructure and evolution of overnight lending rates in the interbank market in a single country. Interest in understanding the interbank market surged in the aftermath of the 2008 global financial cr... Read More about Fellowship amongst peers: A single country analysis of the effects of bank governance and competitiveness on interbank market microstructure.

The diffusion of fintech, financial inclusion and income per capita (2021)
Journal Article
Kanga, D., Oughton, C., Harris, L., & Murinde, V. (2022). The diffusion of fintech, financial inclusion and income per capita. European Journal of Finance, 28(1), 108-136. https://doi.org/10.1080/1351847X.2021.1945646

Advances in information and communication technology (ICT) have provided a platform for the introduction and diffusion of a range of financial technologies that have transformed the financial sector. This study analyses the diffusion of financial tec... Read More about The diffusion of fintech, financial inclusion and income per capita.

The Impact of Climate Vulnerability on Firms’ Cost of Capital and Access to Finance (2020)
Journal Article
Kling, G., Volz, U., Murinde, V., & Ayas, S. (2021). The Impact of Climate Vulnerability on Firms’ Cost of Capital and Access to Finance. World Development, 137, Article 105131. https://doi.org/10.1016/j.worlddev.2020.105131

This paper presents the first systematic investigation of the effects of climate-related vulnerability on firms’ cost of capital and access to finance and sheds light on a hitherto under-appreciated cost of climate change for climate vulnerable devel... Read More about The Impact of Climate Vulnerability on Firms’ Cost of Capital and Access to Finance.

Fintech, financial inclusion and income inequality: A quantile regression approach (2020)
Journal Article
Demir, A., Pesque-Cela, V., Altunbas, Y., & Murinde, V. (2022). Fintech, financial inclusion and income inequality: A quantile regression approach. European Journal of Finance, 28(1), 86-107. https://doi.org/10.1080/1351847X.2020.1772335

Although theory suggests that financial market imperfections – mainly information asymmetries, market segmentation and transaction costs – prevent poor people from escaping poverty by limiting their access to formal financial services, new financial... Read More about Fintech, financial inclusion and income inequality: A quantile regression approach.

Threshold Effects of Financial Inclusion on Income Inequality (2020)
Preprint / Working Paper
Demir, A., Pesque-Cela, V., & Murinde, V. Threshold Effects of Financial Inclusion on Income Inequality. London

Economic theory predicts an indeterminate (positive or inverse) relationship between financial inclusion and income inequality. We invoke a panel threshold model to investigate the possibility of a non-linear relationship between financial inclusion... Read More about Threshold Effects of Financial Inclusion on Income Inequality.

Capital, risk and profitability of WAEMU banks: Does bank ownership matter? (2020)
Journal Article
Kanga, D., Murinde, V., & Soumaré, I. (2020). Capital, risk and profitability of WAEMU banks: Does bank ownership matter?. Journal of Banking and Finance, 114, https://doi.org/10.1016/j.jbankfin.2020.105814

We investigate the simultaneous relationship among bank capital, risk and profitability, but also considering bank ownership and the emergence of Pan-African cross-border banks. We specify a simultaneous equation model and estimate it using hand-coll... Read More about Capital, risk and profitability of WAEMU banks: Does bank ownership matter?.

Oil booms, bank productivity and natural resource curse in finance (2019)
Journal Article
Adetutu, M. O., Odusanya, K. A., Ebireri, J. E., & Murinde, V. (2020). Oil booms, bank productivity and natural resource curse in finance. Economics Letters, 186, Article 108517. https://doi.org/10.1016/j.econlet.2019.07.002

Using a rich monthly microdata, this study is the first one to investigate the effect of commodity booms on bank productivity in the context of resource-endowed economies. Consistent with the axiom of a natural resource curse in finance, we find sign... Read More about Oil booms, bank productivity and natural resource curse in finance.

Varieties of neo-colonialism: Government accounting reforms in Anglophone and Francophone Africa – Benin and Ghana compared (2019)
Journal Article
Lassou, P. J., Hopper, T., Tsamenyi, M., & Murinde, V. (2019). Varieties of neo-colonialism: Government accounting reforms in Anglophone and Francophone Africa – Benin and Ghana compared. Critical Perspectives On Accounting, 65, Article 102071. https://doi.org/10.1016/j.cpa.2019.01.003

This study compares government accounting reforms in an Anglophone and a Francophone African country, namely Ghana and Benin, with respect to neo-colonialism. The data draws from interviews with local officials concerned with government accounting, d... Read More about Varieties of neo-colonialism: Government accounting reforms in Anglophone and Francophone Africa – Benin and Ghana compared.

The Impact of Climate Vulnerability on Firms’ Cost of Capital and Access to Finance (2019)
Preprint / Working Paper
Kling, G., Volz, U., Murinde, V., & Ayas, S. The Impact of Climate Vulnerability on Firms’ Cost of Capital and Access to Finance. London

This paper investigates the effect of climate-related risk on firms’ cost of capital and access to finance. Building on recent findings that climate vulnerability significantly increases sovereign cost of debt, we posit a ‘pass-through effect’ whereb... Read More about The Impact of Climate Vulnerability on Firms’ Cost of Capital and Access to Finance.

How does banking market power affect bank opacity? Evidence from analysts' forecasts (2018)
Journal Article
Fosu, S., Danso, A., Agyei-Boapeah, H., Ntim, C. G., & Murinde, V. (2018). How does banking market power affect bank opacity? Evidence from analysts' forecasts. International Review of Financial Analysis, 60, 38-52. https://doi.org/10.1016/j.irfa.2018.08.015

Whilst the ongoing banking regulatory reforms towards a comprehensive Basel III framework emphasise bank transparency, disclosure and a competitive banking market environment, very little is known about the empirical relationship between bank opacity... Read More about How does banking market power affect bank opacity? Evidence from analysts' forecasts.

Climate Change and the Cost of Capital in Developing Countries (2018)
Report
Buhr, B., Volz, U., Donovan, C., Kling, G., Lo, Y. C., Murinde, V., & Pullin, N. (2018). Climate Change and the Cost of Capital in Developing Countries

This report represents the first systematic effort to assess the relationship between climate vulnerability, sovereign credit profiles, and the cost of capital in developing countries. Climate risks are multi-dimensional, covering a range of geophysi... Read More about Climate Change and the Cost of Capital in Developing Countries.

Bank fragility in Africa: GMM dynamic panel data evidence (2018)
Journal Article
Kedir, A. M., Iftikhar, S. F., Murinde, V., & Dia Kamgnia, B. (2018). Bank fragility in Africa: GMM dynamic panel data evidence. Transnational Corporations Review, 10(2), 170-178. https://doi.org/10.1080/19186444.2018.1475105

This study investigates the impact of bank-level and macroeconomic variables on bank fragility using a dynamic two-step GMM panel estimator on 433 banks in 46 African countries over the period 1997–2012. The study finds that both bank characteristics... Read More about Bank fragility in Africa: GMM dynamic panel data evidence.

Overnight interbank markets and the determination of the interbank rate: A selective survey (2016)
Journal Article
Green, C. J., Bai, Y., Murinde, V., Ngoka, K., Maana, I., & Tiriongo, S. (2016). Overnight interbank markets and the determination of the interbank rate: A selective survey. International Review of Financial Analysis, 44, 149-161. https://doi.org/10.1016/j.irfa.2016.01.014

Overnight interbank markets provide critical facilities for the banking system to manage, pool and redistribute its cash reserves. We provide a selective survey of the literature on overnight interbank markets. We outline the typical structure of ove... Read More about Overnight interbank markets and the determination of the interbank rate: A selective survey.