Zoekresultaten

Dynamics of Dividend Payout in Korean Corporations

This research conducts a meticulous examination of the determinants influencing dividend payout dynamics among firms listed on the Korean Stock Exchange (KSE) from 1995 to 2021, a period characterized by profound economic fluctuations. By leveraging a dynamic panel data model and the Generalized Method of Moments (GMM) for estimation, the study addresses endogeneity concerns while exploring the effects of firm-specific and macroeconomic variables on dividend yields. The investigation delineates three distinct economic phases: normal conditions, financial crises, and the aggregate study period, facilitating a granular understanding of firms’ dividend payout adaptability under varying economic landscapes. Empirical findings underscore the persistence of dividend payments, revealing a variable adjustment speed toward target dividend yields contingent upon the economic context, with an expedited adjustment observed during crises. Crucially, firm profitability emerges as a consistent determinant of dividend yields across all examined periods, whereas the influence of macroeconomic variables is notably more pronounced during periods of economic normalcy. This research elucidates the complex interplay between internal corporate strategies and external economic pressures in shaping dividend policies, thereby enriching the discourse on dividend payout behavior in the context of Korea’s economic evolution from an emerging to a developed market.

Flying Money 2018

Being a hub and a hotspot for many people from all over the world means that new dynamics have entered Amsterdam and other cities in the last few years. Money flows pass through the city, and we often do not know anymore whose money this is, where it comes from or where it goes. At the same time, the development of cryptocurrencies and parallel money cultures all contribute to the opaqueness of the future of the financial world.To better understand the current dynamics that will affect our financial future, the City of Amsterdam has taken the initiative to organize an international conference in collaboration with the Institute of Network Cultures from the Amsterdam University of Applied Science: Flying Money – Investigating illicit Financial Flows in the City.This publication contains the results of the conference, along with relevant academic and other articles ensuing from the conference.

Crisis Entrepreneurs and Hidden Crises

We examine the ways in which a hidden crisis can be exposed from a communication point of view. In which way can organisations create general awareness of a crisis and try to understand the dynamic nature of interactions? With the help of discourse analysis, we have examined the interactional achievements of two crisis entrepreneurs in the domain of education in the Netherlands: a rector of a secondary school and the founders of BON, a social movement aimed at improving the quality of education. In this way, we will illustrate the discursive practices that play an active role when certain players signal a crisis.

Regulation in Europe after the financial crisis: patterns of up-loading and down-loading of regulatory solutions

Design guidelines for the monetary and financial system in the digital age

In the aftermath of the systemic financial crises of 2007-9, several scholars argued that the problem of systemic financial crises is not well understood. At the same time, the introduction of digital technologies led to new threats and opportunities for the design of the monetary and financial system. For example, thousands of private cryptocurrencies have been implemented and hundreds of research papers on the (possible) introduction of public digital currencies have been published. It is often not explained why these new forms of digital money are needed and which (systemic) problems they (can) solve. In addition, the literature does not provide requirements nor guidelines to shape the development of the monetary and financial system in the digital age. This thesis applies design science to the monetary and financial system as a whole. The application of this novel methodology offers new possibilities to examine this complex system. The contribution of this thesis is threefold. First, different theories on money, banking and systemic financial crises have been researched through an extensive literature review and balance sheets. Second, those theories have been used to develop design requirements and guidelines. Finally, the consensus and pivotal dissensions about the systemic problem(s) of the current monetary and financial system, requirements and guidelines among experts have been identified through semistructured interviews. This research process results in widely supported requirements that demarcate the design space and widely supported guidelines that aim to give direction within the design space, that is, to the future development of the monetary and financial system.