Emmanuel Anoruo
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3 publications
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560 downloads
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1149 views
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Joint variance-ratio tests of random walks in China's closed-end fund market
Emmanuel Anoruo , Uchenna ElikeInvestment Management and Financial Innovations Volume 5, 2008 Issue #2
Views: 629 Downloads: 178 TO CITE -
Asymmetric dynamics in current account - interest rate nexus: evidence from Asian countries
Emmanuel Anoruo , Uchenna ElikeInvestment Management and Financial Innovations Volume 5, 2008 Issue #4
Views: 497 Downloads: 130 TO CITE -
Testing for explosive bubbles in the South African-US exchange rate using the sequential ADF procedures
Uchenna Elike , Emmanuel Anoruo doi: http://dx.doi.org/10.21511/bbs.12(1-1).2017.02Banks and Bank Systems Volume 12, 2017 Issue #1 (cont.) pp. 105-112
Views: 1166 Downloads: 501 TO CITE АНОТАЦІЯThis paper tests for the existence of speculative bubbles in the South African-US exchange rate using the sequential ADF procedures. In particular, the paper uses the SADF and GSADF right-tailed unit root tests to explore the existence of explosive bubbles in the South African-US exchange rate for the time period running from January1980 through July 2012. The results provide evidence in support of the existence of explosive bubbles in the nominal rand-dollar exchange rate, the real exchange rate of traded and non-traded goods. The explosive behavior exhibited by the South African rand-US dollar exchange rate can be interpreted as evidence of rational bubbles given that this behavior is driven by the fundamentals including relative prices of traded and non-traded goods.
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An empirical analysis of the determinants of the U.S. banks’ profitability
Chiaku Chukwuogor , Emmanuel Anoruo , Ikechukwu Ndu doi: doi http://dx.doi.org/10.21511/bbs.16(4).2021.17Banks and Bank Systems Volume 16, 2021 Issue #4 pp. 209-217
Views: 697 Downloads: 167 TO CITE АНОТАЦІЯThis study investigates the determinants of the profitability of U.S. banks. Employing quarterly data, this paper further examines the historical and recent trends for all U.S. banks from 1996 to 2019 in the relationship between return and assets (ROA) and other bank internal (or endogenous) profitability contributors such as net interest margin (NIM), loan loss reserves, ratio of non-performing loans to gross loans, and external (or exogenous) macroeconomic variables, such as the 30-year average mortgage rate, Gross Domestic Product (GDP) economic growth rate, unemployment rate, interest rate, inflation rate and openness (i.e., exports + imports/GDP) by using the Generalized Method of Moments (GMM) estimator technique. The results reveal that bank-specific variables, including net interest margin, loan loss reserves and non-performing loans, have a significant impact on bank profitability in the United States. Similarly, the results show that macroeconomic variables, namely the average mortgage rate, economic growth, and unemployment rate, exert significant effects on the U.S. banks’ profitability. The results further indicate that changes in openness are detrimental to bank profitability. The implications are discussed.