Browsing by Author "Yuen MK"

Now showing 1 - 4 of 4

Financial market development and bank deposits
(Elsevier B V, 2026-03-01) Srivastava N; Tripe D; Haq M; Yuen MK
This paper studies the effects of financial market development on bank deposits in a cross-country setting. Our empirical evidence shows that investors in developed and developing economies engage with financial markets differently, leading to varying impacts on bank deposits. For instance, in financially developed economies, financial markets typically complement the banking sector by facilitating deposit growth. Conversely, in financially developing economies, financial markets and banks often compete for deposits, thereby constraining bank deposits growth. This dynamic, however, is shaped by country-specific factors such as market concentration and the level of deposit insurance. Moreover, we find that financial market development increases per capita savings, which in turn strengthens bank deposit growth. These findings remain consistent across a range of model specifications and robustness checks.
In the heat of the moment, secrets will out: Oil price uncertainty and firm green innovation disclosure
(Elsevier Inc, 2025-03) Huang K; Chi J; Liao J; Yuen MK
This study investigates the relationship between oil price uncertainty and corporate green innovation disclosure behaviour. Drawing on a textual analysis of annual reports and social responsibility reports of Chinese listed companies, we construct a measure for the intensity of corporate green innovation disclosure. We find a significantly positive relationship between oil price volatility and the level of green innovation disclosure. This relationship remains robust after conducting robustness tests and addressing potential endogeneity. Further analysis reveals that this positive association is moderated by several firm-level factors, including environmental performance, legitimacy demands, and political connections. Additionally, the positive relationship is more pronounced in firms subject to higher regional environmental regulation intensity and market-based green initiatives. Our findings contribute new evidence to corporate sustainable development, demonstrating that energy uncertainty significantly influences information transparency in green innovation disclosure.
Shadow economy and energy efficiency: utilising goal programming for sustainability assessment
(Springer Science+Business Media, LLC, 2025-08-07) Alharbi SS; Boubaker S; Ngo T; Yuen MK
This paper combined different methods of operations research, goal programming, and unsupervised machine learning into a single framework to examine energy efficiency across the globe. Using the latest data from 131 countries in 2017, our empirical findings reveal different patterns of energy efficiency among countries and country groups under both the meta-frontier and group-frontiers. We found an inequality in production technology for many countries, which made it difficult for them to improve their energy efficiency. Importantly, our analysis also reveals that the size of the shadow economy has a small but negative impact on energy efficiency. Consequently, we suggest that governments should (i) pay more attention to the shadow economy, (ii) increase investments in education and human capital, and (iii) strengthen their institutions.
Weathering the storm: How does firm oil price uncertainty exposure impact green innovation in times of geopolitical tensions
(Elsevier B V, 2026-01-05) Huang K; Chi J; Liao J; Yuen MK
This study examines the impact of oil price uncertainty sensitivity on corporate green innovation, in times of geopolitical tensions. Using manually collected import and export data at the destination country-firm level from China Customs Dataset, we construct the unique measure of firm-level geopolitical tensions of Chinese listed companies received from foreign supply chain partners. Our results reveal that firms with higher exposure to oil price uncertainty are more likely to engage in green innovation. Importantly, geopolitical tensions significantly and positively moderate the relationship between corporate oil price uncertainty exposure and green innovation efforts, with the effect being particularly pronounced in the context of geopolitical tensions originating from customer countries. Further analysis reveals that domestic supply chain alliances and supply chain efficiency mitigate firms' urgency for green innovation. Finally, we find that the effects of oil price uncertainty and geopolitical tensions on green innovation are more pronounced in firms with higher international exposure, and greater competitive pressures.