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Revisiting Stock Market Integration Pre-Post Subprime Mortgage Crisis: Insight From BRIC Countries Brahmana, Rayenda; Puah, Chin-Hong; Wong, Kai-Hung
Economics and Finance in Indonesia Vol. 61, No. 2
Publisher : UI Scholars Hub

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Abstract

This study revisits the long-run relationships and short-run dynamic causal linkages among BRIC stock market, with the particular attention to the 2008 subprime mortgage crisis. Extending related empirical studies, comparative analyses of pre-crisis, and post-crisis periods were conducted to comprehensively evaluate how stock market integration was affected by financial crises. In general, after employing cointegration test and VAR test, the results reveal the increase of stock market integration in BRICs after the subprime crisis. The evidence also found that China stock market is the most influential among the BRICs, in which China stock market has the ability to Granger cause the other three BRICs member countries. An important implication of our findings is that the degree of integration among countries tends to change over time, especially around periods marked by financial crises.
ENTREPRENEURIAL BRICOLAGE AND IMPROVING THE CAPABILITY OF WOMEN WEAVING ENTREPRENEURS Purnamawati, I Gusti Ayu; Yuniarta, Gede Adi; Puah, Chin-Hong
Jurnal Aplikasi Manajemen Vol. 20 No. 1 (2022)
Publisher : Universitas Brawijaya, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.jam.2022.020.01.05

Abstract

The COVID-19 pandemic has put a lot of pressure on the women-run weaving industry, one of which is a decline in demand and the loss of opportunities for women to support the economic life of their families amid global efforts to improve gender equality and women's welfare. This research is expected to solve the inequality problem, especially for women, supporting economic growth and achieving prosperity. Efforts to empower women are expected to increase innovation and productivity amidst scarce resources. The research objective is to analyze the role of women in achieving business productivity and subjective welfare through strengthening the position of bricolage. In addition, material flexibility in managing resource constraints and highlighting the development of a company-specific social resource environment by exploring bricolage from an institutional aspect. The sample in this study were 112 women who own the weaving handicraft business in Bali Province, which were obtained using a saturated sampling method. Research data collection using observation and interview. Data were analyzed using a structural equation model, namely Partial Least Square. The study results reveal a strong influence of bricolage for women's empowerment on improving business performance. Other dimensions that affect subjective welfare are empowerment, entrepreneurial orientation, bricolage, business networks, and business performance. Weaving business players strive for innovation as the primary key factor in surviving in a dynamic environment and changing technology. Further research can use the government's role and technology implementation variables to improve weaving artisans' welfare.