IDEAS home Printed from https://ideas.repec.org/a/eee/riibaf/v70y2024ipbs0275531924001788.html
   My bibliography  Save this article

Impact of social welfare finance on institutional financial performance: Cross-country evidence

Author

Listed:
  • Liu, Guohua
  • Zhao, Lihua
  • Wang, Xiaoyan
  • liao, Meihui

Abstract

This study explores the nuanced impact of social welfare finance on institutional financial performance, focusing solely on its direct effects. Utilizing fixed effect, feasible generalized, and quantitative approaches alongside the dynamic generalized method of moments (GMM), we conduct a thorough analysis using data from 20 upper-middle-income economies spanning 2000–2023. Our findings highlight the pivotal role of social welfare finance, including its dynamic and lagged impacts, as a significant determinant of institutional financial performance. Quantile analysis reveals varying effects across different quantiles, enriching our understanding. The results emphasize the direct influence of social welfare finance and unveil its indirect impact through Corporate Social Responsibility (CSR), a novel contribution to the literature. Moreover, we stress the critical importance of reasonable resource allocation, highlighting the indispensable role of social welfare finance resources. We advocate for prioritizing public-private partnerships to optimize financial targeting, offering a pragmatic strategy for fostering a resilient financial economy.

Suggested Citation

  • Liu, Guohua & Zhao, Lihua & Wang, Xiaoyan & liao, Meihui, 2024. "Impact of social welfare finance on institutional financial performance: Cross-country evidence," Research in International Business and Finance, Elsevier, vol. 70(PB).
  • Handle: RePEc:eee:riibaf:v:70:y:2024:i:pb:s0275531924001788
    DOI: 10.1016/j.ribaf.2024.102385
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0275531924001788
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.ribaf.2024.102385?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:riibaf:v:70:y:2024:i:pb:s0275531924001788. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ribaf .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.