Indicators of non-performing loan: does efficiency matter?
Abstract
The purpose of this study is to examine the impact of various factors on the level of non-performing loans (NPL) and, to determine the moderating role of efficiency on the relationship between different factors and NPL in China. The current study addressed four important factors to examine the role in relation to the NPL. These factors include; return on assets (ROA), return on equity (ROE), economic sustainability and political instability index. Furthermore, the moderating role of efficiency is addressed between these factors and NPL. Secondary data is used in this study to consider the empirical results. Secondary data related to ROA, ROE, economic sustainability and political instability index is collected from different sources. Consistent with the literature, we found significant effect of ROA, ROE, economic sustainability and political instability index on NPL. Banking sector of China is majorly influenced by these factors due to the effect on NPLs. Furthermore, the efficiency has contribution to the NPLs as moderating variable. Results of this study are helpful for the management of banking industry to resolve various issues related to NPLs.
Keyword : non-performing loans (NPL), return on assets (ROA), return on equity (ROE), economic sustainability, political instability index, efficiency, banking industry
How to Cite
Jiang, T., & Zheng, Y. (2024). Indicators of non-performing loan: does efficiency matter?. Technological and Economic Development of Economy, 30(1), 129–147. https://doi.org/10.3846/tede.2024.20453
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
Adem, M. (2022). Determinants of credit risk in Ethiopian banking industry: Does political stability matter? Global Business Review. https://doi.org/10.1177/09721509221104244
Alzahrani, A., & Alfares, H. (2021). Consistency-based multi-criteria group decision-making for fire station staffing. International Journal of Operations and Quantitative Management, 27(4), 303–320. https://doi.org/10.46970/2021.27.4.1
Anjom, W., & Karim, A. M. (2016). Relationship between non-performing loans and macroeconomic factors with bank specific factors: A case study on loan portfolios – SAARC countries perspective. ELK Asia Pacific Journal of Finance and Risk Management, 7(2), 1–29.
Aprilia, J., & Handayani, S. R. (2018). Pengaruh capital adequacy ratio, biaya operasional per pendapatan operasional, non performing loan, dan loan to deposit ratio terhadap return on asset dan return on equity (Studi pada Bank Umum Swasta Nasional Devisa Tahun 2012–2016). Jurnal Administrasi Bisnis (JAB), 61(3), 172–182.
Arham, N., Salisi, M. S., Mohammed, R. U., & Tuyon, J. (2020). Impact of macroeconomic cyclical indicators and country governance on bank non-performing loans in Emerging Asia. Eurasian Economic Review, 10(4), 707–726. https://doi.org/10.1007/s40822-020-00156-z
Ari, A., Chen, S., & Ratnovski, L. (2021). The dynamics of non-performing loans during banking crises: A new database with post-COVID-19 implications. Journal of Banking and Finance, 133, Article 106140. https://doi.org/10.1016/j.jbankfin.2021.106140
Badawaiy, S. O., & Sabah, K. K. (2021). Analysis of non-performing loans indicators and their treatment in the Kurdistan Region–Iraq: A practical study of sample of banks for 2019. Qalaai Zanist Journal, 6(1), 652–695. https://doi.org/10.25212/lfu.qzj.6.1.25
Badell, A. C., Claver, E. L., Brufau, I., Ensenyat, A., & Torrents, C. (2020). Hockey patines “XS”: Does it affect the load at initiation? Journal of Sports Psychology, 29(5), 124–132. https://rpd-online.com/index.php/rpd/issue/view/6/7
Batlle, C. B., Rodríguez, M. G., & Benedicto, T. P. (2020). Fair value of a swap: CVA and DVA. A binomial approximation. Spanish Journal of Economics and Finance, 43(122), 229–242. https://doi.org/10.32826/cude.v42i122.202
Bekun, F. V., Yalçiner, K., Etokakpan, M. U., & Alola, A. A. (2020). Renewed evidence of environmental sustainability from globalization and energy consumption over economic growth in China. Environmental Science and Pollution Research, 27(23), 29644–29658. https://doi.org/10.1007/s11356-020-08866-2
Bhattarai, B. P. (2018). Assessing banks internal and macroeconomic factors as determinants of non-performing loans: Evidence from Nepalese commercial banks. International Journal of Accounting & Finance Review, 3(1), 13–32. https://doi.org/10.46281/ijafr.v3i1.28
CEIC Data. (2023). China non performing loans ratio. 2005–2023. https://www.ceicdata.com/en/indicator/china/non-performing-loans-ratio
Chowdhury, E. K. (2020). Non-performing loans in Bangladesh: Bank specific and macroeconomic effects. Journal of Business Administration, 41(2), 139–156 108–125. https://www.researchgate.net/profile/Emon-Chowdhury/publication/350411059
Ciukaj, R., & Kil, K. (2020). Determinants of the non-performing loan ratio in the European Union banking sectors with a high level of impaired loans. Economics and Business Review, 6(1), 22–45. https://doi.org/10.18559/ebr.2020.1.2
Clauß, T., Kraus, S., & Jones, P. (2022). Sustainability in family business: Mechanisms, technologies and business models for achieving economic prosperity, environmental quality and social equity. Technological Forecasting and Social Change, 176, Article 121450. https://doi.org/10.1016/j.techfore.2021.121450
Çollaku, B., & Aliu, M. (2021). Impact of non-performing loans on bank’s profitability: Empirical evidence from commercial banks in Kosovo. Journal of Accounting, Finance and Auditing Studies, 7(3), 226–242. https://doi.org/10.32602/jafas.2021.027
Dong, Y., Wu, S. X.-Y., Dong, W.-Y., & Tang, Y. (2020). The effects of home literacy environment on children’s reading comprehension development: A meta-analysis. Educational Sciences: Theory and Practice, 20(2), 63–82.
Edi, E. & Wijaya, E. (2022). The Role of Managerial Ability on Operational Performance and Stock Return Moderated by CEO Overconfidence. Journal of Accounting, Finance and Auditing Studies, 8(4), 258-277.
Ekinci, R., & Poyraz, G. (2019). The effect of credit risk on financial performance of deposit banks in Turkey. Procedia Computer Science, 158, 979–987. https://doi.org/10.1016/j.procs.2019.09.139
Farooq, M. O., Elseoud, M., Turen, S., & Abdulla, M. (2019). Causes of non-performing loans: The experience of gulf cooperation council countries. Entrepreneurship and Sustainability Issues, 6(4), 1955–1974. https://ssrn.com/abstract=3410043
Ghosh, S. (2005). Does leverage influence banks’ non-performing loans? Evidence from India. Applied Economics Letters, 12(15), 913–918. https://doi.org/10.1080/13504850500378064
Hamid, F. S., & Ibrahim, M. H. (2021). Competition, diversification and performance in dual banking: A panel VAR analysis. Economic Research, 34(1), 194–220. https://doi.org/10.1080/1331677X.2020.1782242
Jassim, T. L. (2021). The influence of oil prices, licensing and production on the economic development: An empirical investigation of Iraq economy. AgBioForum, 23(1), 1–11.
John, T. A. (2018). Effect of non-performing loans on bank performance of some selected commercial bank in the Nigerian banking sector. International Journal of New Technology and Research, 4(4), 11–17.
Kaya, P., Babuşçu, Ş., & Hazar, A. (2021). The determinants of profitability of large-scale and small-scale Turkish deposit banks. Journal of Corporate Governance, Insurance, and Risk Management, 8(1), 1–18. https://doi.org/10.51410/jcgirm.8.1.1
Khamisah, N., Nani, D. A., & Ashsifa, I. (2020). The effect of Non Performing Loans (NPL), BOPO and company size on Return On Assets (ROA) of banking companies listed on the Indonesia Stock Exchange (IDX). TECHNOBIZ: International Journal of Business, 3(2), 18–23. https://doi.org/10.33365/tb.v3i2.836
Khan, M. A., Siddique, A., & Sarwar, Z. (2020). Determinants of non-performing loans in the banking sector in developing state. Asian Journal of Accounting Research, 5(1), 135–145. https://doi.org/10.1108/AJAR-10-2019-0080
Khoirunisa, H., Hutauruk, C. M., & Muchtar, S. (2022). Factors affecting non-performing loans of conventional banking: Evidence in Indonesia stock exchange. Jurnal Syntax Transformation, 3(1), 65–78. https://doi.org/10.46799/jst.v3i1.494
Kiral, B. (2020). A case study regarding of the parental responsibilities to their children. Eurasian Journal of Educational Research, 2020(85), 65–92.
Kjosevski, J., & Petkovski, M. (2017). Non-performing loans in Baltic States: Determinants and macroeconomic effects. Baltic Journal of Economics, 17(1), 25–44. https://doi.org/10.1080/1406099X.2016.1246234
Kjosevski, J., & Petkovski, M. (2021). Macroeconomic and bank-specific determinants of non-performing loans: The case of Baltic States. Empirica, 48(4), 1009–1028. https://doi.org/10.1007/s10663-020-09491-5
Koju, L., Koju, R., & Wang, S. (2018). Macroeconomic and bank-specific determinants of non-performing loans: Evidence from Nepalese banking system. Journal of Central Banking Theory and Practice, 7(3), 111–138. https://doi.org/10.2478/jcbtp-2018-0026
Kumar, V., & Kishore, P. (2019). Macroeconomic and bank specific determinants of non-performing loans in UAE conventional bank. Journal of Banking and Finance Management, 2(1), 1–12. https://doi.org/10.22259/2642-9144.0201001
Lee, S. Y., Park, M., & Shin, Y. (2021). Hit harder, recover slower? Unequal employment effects of the COVID-19 shock. Federal Reserve Bank of St. Louis Review, Fourth Quarter, 103(4), 367–383. https://doi.org/10.20955/r.103.367-83
Lee, Y. Y., Yahya, M. H. D. H., Habibullah, M. S., & Ashhari, Z. M. (2020). Non-performing loans in European Union: Country governance dimensions. Journal of Financial Economic Policy, 12(2), 209–226. https://doi.org/10.1108/JFEP-01-2019-0027
Long, V. M., Yen, N. T., & Long, P. D. (2020). Factors affecting Non-Performing Loans (NPLs) of banks: The case of Vietnam. Ho Chi Minh City Open University Journal of Science-Economics and Business Administration, 10(2), 83–93. https://doi.org/10.46223/HCMCOUJS.econ.en.10.2.967.2020
Mahato, S. K. (2021). Non-performing assets and its effect on profitability of Nepalese Commercial Banks (with reference to ADBL, NIBL, GIBL, EBL and NIC Asia Bank) [Phd Dissertation]. Department of Management.
Makri, V., Tsagkanos, A., & Bellas, A. (2014). Determinants of non-performing loans: The case of Eurozone. Panoeconomicus, 61(2), 193–206. https://doi.org/10.2298/PAN1402193M
Mazreku, I., Morina, F., Misiri, V., Spiteri, J. V., & Grima, S. (2018). Determinants of the level of non-performing loans in commercial banks of transition countries. European Research Studies Journal, 21(3), 3–13. www.um.edu.mt/library/oar//handle/123456789/34250
Morakinyo, A. E., & Sibanda, M. (2016). The determinants of non-performing loans in the MINT economies. Journal of Economics and Behavioral Studies, 8(5), 39–55. https://doi.org/10.22610/jebs.v8i5(J).1430
Mosala, K., & Chinomona, E. (2020). Motorists attitudes towards implementation of e-tolls in Gauteng Province, South Africa. International Journal of eBusiness and eGovernment Studies, 12(1), 48–62. https://doi.org/10.34111/ijebeg.202012104
Murad, M., Bhatti, A., Bakar, A., Ahmad, R., & Khan, A. J. (2022). Exploring the relationship between effective management & social equity: A CSR perspective. Journal of South Asian Studies, 10(1), 103–111. https://doi.org/10.33687/jsas.010.01.4180
Ntarmah, A. H., Kong, Y., Cobbinah, E., Gyan, M. K., & Manu, E. K. (2020). Analysis of the responsiveness of environmental sustainability to non-performing loans in Africa. Applied Economics Journal, 27(2), 77–109. www.researchgate.net/profile/Albert-Ntarmah/publication/355132259
Olorogun, L. A. (2020). Spillover effects of Covid-19 uncertainty on non-performing loans of the Turkish agricultural sector on bank performance. Journal for Global Business Advancement, 13(4), 514–532. https://doi.org/10.1504/JGBA.2020.112389
Oni, O. O. (2019). Determinants of non-performing loans of deposit money banks in Sub-Saharan Africa. Kwara State University (Nigeria).
Partovi, E., & Matousek, R. (2019). Bank efficiency and non-performing loans: Evidence from Turkey. Research in International Business and Finance, 48, 287–309. https://doi.org/10.1016/j.ribaf.2018.12.011
Pereira, L. F., Jeronimo, C., Dias, A., & Costa, R. (2022). Pereira Diamond – benefits realization management. The Journal of Modern Project Management, 9(2), 20–35.
Petkovski, M., Kjosevski, J., & Jovanovski, K. (2018). Empirical panel analysis of non-performing loans in the Czech Republic. What are their determinants and how strong is their impact on the real economy? Czech Journal of Economics and Finance (Finance a uver), 68(5), 460–490.
Philip, J. F., Sudalai, S., Devanesan, M. G., Babazadeh, R., & Arumugam, A. (2022). Environmental sustainability, technoeconomic analysis, and policy-making aspects of biodiesel. In A. Arumugam (Ed.), Production of biodiesel from non-edible sources (pp. 211–239). Elsevier. https://doi.org/10.1016/B978-0-12-824295-7.00008-5
Pilinkienė, V., Stundziene, A., Stankevicius, E., & Grybauskas, A. (2021). Impact of the economic stimulus measures on Lithuanian Real Estate Market under the conditions of the COVID-19 pandemic. Engineering Economics, 32(5), 459–468. https://doi.org/10.5755/j01.ee.32.5.28057
Pu, Z., & Fu, J. (2018). Economic growth, environmental sustainability and China mayors’ promotion. Journal of Cleaner Production, 172, 454–465. https://doi.org/10.1016/j.jclepro.2017.10.162
Qin, Y., Wang, X., Xu, Z., & Škare, M. (2021). The impact of poverty cycles on economic research: Evidence from econometric analysis. Economic Research, 34(1), 152–171. https://doi.org/10.1080/1331677X.2020.1780144
Radivojevic, N., & Jovovic, J. (2017). Examining of determinants of non-performing loans. Prague Economic Papers, 26(3), 300–316. https://doi.org/10.18267/j.pep.615
Ramachann, N., Al-muqaimi, S. K., & Al-hajri, N. R. (2022). Characteristics of Audit Committee and Banking Sector Performance in Oman. Journal of Corporate Governance, Insurance, and Risk Management, 9(S1), 263-273.
Rašidagić, E. K., & Hesova, Z. (2020). Development of Turkish foreign policy towards the Western Balkans with Focus on Bosnia and Herzegovina. Croatian International Relations Review, 26(86), 96–129. https://doi.org/10.37173/cirr.26.86.4
Reuters. (2020, August 30). China’s big banks brace for lagging COVID-19 risks as bad loans rise. https://www.reuters.com/article/china-banks/wrapup-1-chinas-big-banks-brace-for-lagging-covid-19-risks-as-bad-loans-rise-idUSL4N2FW07R
Ribaudo, G. (2020). Brand’s country-of-origin effect on demand for hotels: An exploratory study. Contemporary Economics, 14(1), 58–72. https://ssrn.com/abstract=3730045
Rinaldi, L., & Sanchis-Arellano, A. (2006). Household debt sustainability: What explains household non-performing loans? An empirical analysis (ECB Working Paper No. 570). https://doi.org/10.2139/ssrn.872528
Salman, Z. T., & Hidan, N. K. (2019). Corruption as one of the obstacles to political stability in Iraq. Tikrit Journal For Political Science, 2019(3), 390–410.
Sell, F. (2020). Static and dynamic price effects motivated by innovation and imitation: Novel insights using the Barone’s Curve. Contemporary Economics, 14(1), 73–89.
Service, R. (2021). Cities of consumers: A reading of the 2011 English riots. Social Space Journal, 21(1), 53–67. https://bibliotekanauki.pl/articles/1939479.pdf
Shah, W. U. H., Hao, G., Yan, H., & Yasmeen, R. (2022). Efficiency evaluation of commercial banks in Pakistan: A slacks-based measure Super-SBM approach with bad output (Non-performing loans). PloS ONE, 17(7), Article e0270406. https://doi.org/10.1371/journal.pone.0270406
Sigurdsson, V., Larsen, N. M., Gudmundsdottir, H. K., Alemu, M. H., Menon, R. G. V., & Fagerstrøm, A. (2021). Social media: Where customers air their troubles – How to respond to them? Journal of Innovation & Knowledge, 6(4), 257–267. https://doi.org/10.1016/j.jik.2021.07.001
Singh, S. K., Basuki, B., & Setiawan, R. (2021). The effect of non-performing loan on profitability: Empirical evidence from Nepalese commercial banks. The Journal of Asian Finance, Economics and Business, 8(4), 709–716.
Sunardi, S., Damayanti, T. W., & Supramono, S. (2021). Does female top managers’debt preference shift? If firm experiences sales growth. International Journal of Economics and Finance Studies, 13(1), 90–109.
Tetrevova, L., Jelínková, M., & Munzarova, S. (2021). Traditional and developing segments of the sharing economy from the point of view of customers. Engineering Economics, 32(5), 469–483. https://doi.org/10.5755/j01.ee.32.5.28337
Ulutas, A., Popovic, G., Radanov, P., Stanujkic, D., & Karabasevic, D. (2021). A new hybrid fuzzy PSI-PIPRECIA-CoCoSo MCDM based approach to solving the transportation company selection problem. Technological and Economic Development of Economy, 27(5), 1227–1249. https://doi.org/10.3846/tede.2021.15058
Vinte, C., Smeureanu, I., Dârdală, M., & Reveiu, A. (2021). Sustainable development in education – automating curriculum assessment. Technological and Economic Development of Economy, 27(5), 1159–1185. https://doi.org/10.3846/tede.2021.15018
Vouldis, A. T., & Louzis, D. P. (2018). Leading indicators of non-performing loans in Greece: The information content of macro-, micro-and bank-specific variables. Empirical Economics, 54(3), 1187–1214. https://doi.org/10.1007/s00181-017-1247-0
Wang, Z., Wang, Z., Xu, G., Ren, J., Wang, H., & Li, J. (2020). Sustainability assessment of straw direct combustion power generation in China: From the environmental and economic perspectives of straw substitute to coal. Journal of Cleaner Production, 273, Article 122890. https://doi.org/10.1016/j.jclepro.2020.122890
Wildau, G. (2017). China overtakes Eurozone as world’s biggest bank system. Financial Times. https://www.ft.com/content/14f929de-ffc5-11e6-96f8-3700c5664d30
Wolfe, M. T., Patel, P. C., & Manikas, A. S. (2021). Shock and awe: Loudness and unpredictability in Twitter messages and crowdfunding campaign success. Journal of Innovation & Knowledge, 6(4), 246–256. https://doi.org/10.1016/j.jik.2021.06.002
Wood, A., & Skinner, N. (2018). Determinants of non-performing loans: Evidence from commercial banks in Barbados. The Business & Management Review, 9(3), 44–64.
Wynn, M. (2021). Storied identity: Reading the Bible Eucharistically. European Journal for Philosophy of Religion, 13(4). https://doi.org/10.24204/ejpr.2021.3724
Xiao, J. J., Serido, J., & Shim, S. (2011). Financial education, financial knowledge, and risky credit behavior of college students. In Lamdin, D. J. (Ed.), Consumer knowledge and financial decisions (pp. 113–128). Springer. https://doi.org/10.1007/978-1-4614-0475-0_8
Yang, L., Huang, B., Mao, M., Yao, L., Niedermann, S., Hu, W., & Chen, Y. (2016). Sustainability assessment of greenhouse vegetable farming practices from environmental, economic, and socio-institutional perspectives in China. Environmental Science and Pollution Research, 23(17), 17287–17297. https://doi.org/10.1007/s11356-016-6937-1
Zheng, C., Bhowmik, P. K., & Sarker, N. (2020). Industry-specific and macroeconomic determinants of non-performing loans: A comparative analysis of ARDL and VECM. Sustainability, 12(1), Article 325. https://doi.org/10.3390/su12010325
Zia, S., ur Rahman, M., Noor, M. H., Khan, M. K., Bibi, M., Godil, D. I., Quddoos, M. U., & Anser, M. K. (2021). Striving towards environmental sustainability: How natural resources, human capital, financial development, and economic growth interact with ecological footprint in China. Environmental Science and Pollution Research, 28(37), 52499–52513. https://doi.org/10.1007/s11356-021-14342-2
Alzahrani, A., & Alfares, H. (2021). Consistency-based multi-criteria group decision-making for fire station staffing. International Journal of Operations and Quantitative Management, 27(4), 303–320. https://doi.org/10.46970/2021.27.4.1
Anjom, W., & Karim, A. M. (2016). Relationship between non-performing loans and macroeconomic factors with bank specific factors: A case study on loan portfolios – SAARC countries perspective. ELK Asia Pacific Journal of Finance and Risk Management, 7(2), 1–29.
Aprilia, J., & Handayani, S. R. (2018). Pengaruh capital adequacy ratio, biaya operasional per pendapatan operasional, non performing loan, dan loan to deposit ratio terhadap return on asset dan return on equity (Studi pada Bank Umum Swasta Nasional Devisa Tahun 2012–2016). Jurnal Administrasi Bisnis (JAB), 61(3), 172–182.
Arham, N., Salisi, M. S., Mohammed, R. U., & Tuyon, J. (2020). Impact of macroeconomic cyclical indicators and country governance on bank non-performing loans in Emerging Asia. Eurasian Economic Review, 10(4), 707–726. https://doi.org/10.1007/s40822-020-00156-z
Ari, A., Chen, S., & Ratnovski, L. (2021). The dynamics of non-performing loans during banking crises: A new database with post-COVID-19 implications. Journal of Banking and Finance, 133, Article 106140. https://doi.org/10.1016/j.jbankfin.2021.106140
Badawaiy, S. O., & Sabah, K. K. (2021). Analysis of non-performing loans indicators and their treatment in the Kurdistan Region–Iraq: A practical study of sample of banks for 2019. Qalaai Zanist Journal, 6(1), 652–695. https://doi.org/10.25212/lfu.qzj.6.1.25
Badell, A. C., Claver, E. L., Brufau, I., Ensenyat, A., & Torrents, C. (2020). Hockey patines “XS”: Does it affect the load at initiation? Journal of Sports Psychology, 29(5), 124–132. https://rpd-online.com/index.php/rpd/issue/view/6/7
Batlle, C. B., Rodríguez, M. G., & Benedicto, T. P. (2020). Fair value of a swap: CVA and DVA. A binomial approximation. Spanish Journal of Economics and Finance, 43(122), 229–242. https://doi.org/10.32826/cude.v42i122.202
Bekun, F. V., Yalçiner, K., Etokakpan, M. U., & Alola, A. A. (2020). Renewed evidence of environmental sustainability from globalization and energy consumption over economic growth in China. Environmental Science and Pollution Research, 27(23), 29644–29658. https://doi.org/10.1007/s11356-020-08866-2
Bhattarai, B. P. (2018). Assessing banks internal and macroeconomic factors as determinants of non-performing loans: Evidence from Nepalese commercial banks. International Journal of Accounting & Finance Review, 3(1), 13–32. https://doi.org/10.46281/ijafr.v3i1.28
CEIC Data. (2023). China non performing loans ratio. 2005–2023. https://www.ceicdata.com/en/indicator/china/non-performing-loans-ratio
Chowdhury, E. K. (2020). Non-performing loans in Bangladesh: Bank specific and macroeconomic effects. Journal of Business Administration, 41(2), 139–156 108–125. https://www.researchgate.net/profile/Emon-Chowdhury/publication/350411059
Ciukaj, R., & Kil, K. (2020). Determinants of the non-performing loan ratio in the European Union banking sectors with a high level of impaired loans. Economics and Business Review, 6(1), 22–45. https://doi.org/10.18559/ebr.2020.1.2
Clauß, T., Kraus, S., & Jones, P. (2022). Sustainability in family business: Mechanisms, technologies and business models for achieving economic prosperity, environmental quality and social equity. Technological Forecasting and Social Change, 176, Article 121450. https://doi.org/10.1016/j.techfore.2021.121450
Çollaku, B., & Aliu, M. (2021). Impact of non-performing loans on bank’s profitability: Empirical evidence from commercial banks in Kosovo. Journal of Accounting, Finance and Auditing Studies, 7(3), 226–242. https://doi.org/10.32602/jafas.2021.027
Dong, Y., Wu, S. X.-Y., Dong, W.-Y., & Tang, Y. (2020). The effects of home literacy environment on children’s reading comprehension development: A meta-analysis. Educational Sciences: Theory and Practice, 20(2), 63–82.
Edi, E. & Wijaya, E. (2022). The Role of Managerial Ability on Operational Performance and Stock Return Moderated by CEO Overconfidence. Journal of Accounting, Finance and Auditing Studies, 8(4), 258-277.
Ekinci, R., & Poyraz, G. (2019). The effect of credit risk on financial performance of deposit banks in Turkey. Procedia Computer Science, 158, 979–987. https://doi.org/10.1016/j.procs.2019.09.139
Farooq, M. O., Elseoud, M., Turen, S., & Abdulla, M. (2019). Causes of non-performing loans: The experience of gulf cooperation council countries. Entrepreneurship and Sustainability Issues, 6(4), 1955–1974. https://ssrn.com/abstract=3410043
Ghosh, S. (2005). Does leverage influence banks’ non-performing loans? Evidence from India. Applied Economics Letters, 12(15), 913–918. https://doi.org/10.1080/13504850500378064
Hamid, F. S., & Ibrahim, M. H. (2021). Competition, diversification and performance in dual banking: A panel VAR analysis. Economic Research, 34(1), 194–220. https://doi.org/10.1080/1331677X.2020.1782242
Jassim, T. L. (2021). The influence of oil prices, licensing and production on the economic development: An empirical investigation of Iraq economy. AgBioForum, 23(1), 1–11.
John, T. A. (2018). Effect of non-performing loans on bank performance of some selected commercial bank in the Nigerian banking sector. International Journal of New Technology and Research, 4(4), 11–17.
Kaya, P., Babuşçu, Ş., & Hazar, A. (2021). The determinants of profitability of large-scale and small-scale Turkish deposit banks. Journal of Corporate Governance, Insurance, and Risk Management, 8(1), 1–18. https://doi.org/10.51410/jcgirm.8.1.1
Khamisah, N., Nani, D. A., & Ashsifa, I. (2020). The effect of Non Performing Loans (NPL), BOPO and company size on Return On Assets (ROA) of banking companies listed on the Indonesia Stock Exchange (IDX). TECHNOBIZ: International Journal of Business, 3(2), 18–23. https://doi.org/10.33365/tb.v3i2.836
Khan, M. A., Siddique, A., & Sarwar, Z. (2020). Determinants of non-performing loans in the banking sector in developing state. Asian Journal of Accounting Research, 5(1), 135–145. https://doi.org/10.1108/AJAR-10-2019-0080
Khoirunisa, H., Hutauruk, C. M., & Muchtar, S. (2022). Factors affecting non-performing loans of conventional banking: Evidence in Indonesia stock exchange. Jurnal Syntax Transformation, 3(1), 65–78. https://doi.org/10.46799/jst.v3i1.494
Kiral, B. (2020). A case study regarding of the parental responsibilities to their children. Eurasian Journal of Educational Research, 2020(85), 65–92.
Kjosevski, J., & Petkovski, M. (2017). Non-performing loans in Baltic States: Determinants and macroeconomic effects. Baltic Journal of Economics, 17(1), 25–44. https://doi.org/10.1080/1406099X.2016.1246234
Kjosevski, J., & Petkovski, M. (2021). Macroeconomic and bank-specific determinants of non-performing loans: The case of Baltic States. Empirica, 48(4), 1009–1028. https://doi.org/10.1007/s10663-020-09491-5
Koju, L., Koju, R., & Wang, S. (2018). Macroeconomic and bank-specific determinants of non-performing loans: Evidence from Nepalese banking system. Journal of Central Banking Theory and Practice, 7(3), 111–138. https://doi.org/10.2478/jcbtp-2018-0026
Kumar, V., & Kishore, P. (2019). Macroeconomic and bank specific determinants of non-performing loans in UAE conventional bank. Journal of Banking and Finance Management, 2(1), 1–12. https://doi.org/10.22259/2642-9144.0201001
Lee, S. Y., Park, M., & Shin, Y. (2021). Hit harder, recover slower? Unequal employment effects of the COVID-19 shock. Federal Reserve Bank of St. Louis Review, Fourth Quarter, 103(4), 367–383. https://doi.org/10.20955/r.103.367-83
Lee, Y. Y., Yahya, M. H. D. H., Habibullah, M. S., & Ashhari, Z. M. (2020). Non-performing loans in European Union: Country governance dimensions. Journal of Financial Economic Policy, 12(2), 209–226. https://doi.org/10.1108/JFEP-01-2019-0027
Long, V. M., Yen, N. T., & Long, P. D. (2020). Factors affecting Non-Performing Loans (NPLs) of banks: The case of Vietnam. Ho Chi Minh City Open University Journal of Science-Economics and Business Administration, 10(2), 83–93. https://doi.org/10.46223/HCMCOUJS.econ.en.10.2.967.2020
Mahato, S. K. (2021). Non-performing assets and its effect on profitability of Nepalese Commercial Banks (with reference to ADBL, NIBL, GIBL, EBL and NIC Asia Bank) [Phd Dissertation]. Department of Management.
Makri, V., Tsagkanos, A., & Bellas, A. (2014). Determinants of non-performing loans: The case of Eurozone. Panoeconomicus, 61(2), 193–206. https://doi.org/10.2298/PAN1402193M
Mazreku, I., Morina, F., Misiri, V., Spiteri, J. V., & Grima, S. (2018). Determinants of the level of non-performing loans in commercial banks of transition countries. European Research Studies Journal, 21(3), 3–13. www.um.edu.mt/library/oar//handle/123456789/34250
Morakinyo, A. E., & Sibanda, M. (2016). The determinants of non-performing loans in the MINT economies. Journal of Economics and Behavioral Studies, 8(5), 39–55. https://doi.org/10.22610/jebs.v8i5(J).1430
Mosala, K., & Chinomona, E. (2020). Motorists attitudes towards implementation of e-tolls in Gauteng Province, South Africa. International Journal of eBusiness and eGovernment Studies, 12(1), 48–62. https://doi.org/10.34111/ijebeg.202012104
Murad, M., Bhatti, A., Bakar, A., Ahmad, R., & Khan, A. J. (2022). Exploring the relationship between effective management & social equity: A CSR perspective. Journal of South Asian Studies, 10(1), 103–111. https://doi.org/10.33687/jsas.010.01.4180
Ntarmah, A. H., Kong, Y., Cobbinah, E., Gyan, M. K., & Manu, E. K. (2020). Analysis of the responsiveness of environmental sustainability to non-performing loans in Africa. Applied Economics Journal, 27(2), 77–109. www.researchgate.net/profile/Albert-Ntarmah/publication/355132259
Olorogun, L. A. (2020). Spillover effects of Covid-19 uncertainty on non-performing loans of the Turkish agricultural sector on bank performance. Journal for Global Business Advancement, 13(4), 514–532. https://doi.org/10.1504/JGBA.2020.112389
Oni, O. O. (2019). Determinants of non-performing loans of deposit money banks in Sub-Saharan Africa. Kwara State University (Nigeria).
Partovi, E., & Matousek, R. (2019). Bank efficiency and non-performing loans: Evidence from Turkey. Research in International Business and Finance, 48, 287–309. https://doi.org/10.1016/j.ribaf.2018.12.011
Pereira, L. F., Jeronimo, C., Dias, A., & Costa, R. (2022). Pereira Diamond – benefits realization management. The Journal of Modern Project Management, 9(2), 20–35.
Petkovski, M., Kjosevski, J., & Jovanovski, K. (2018). Empirical panel analysis of non-performing loans in the Czech Republic. What are their determinants and how strong is their impact on the real economy? Czech Journal of Economics and Finance (Finance a uver), 68(5), 460–490.
Philip, J. F., Sudalai, S., Devanesan, M. G., Babazadeh, R., & Arumugam, A. (2022). Environmental sustainability, technoeconomic analysis, and policy-making aspects of biodiesel. In A. Arumugam (Ed.), Production of biodiesel from non-edible sources (pp. 211–239). Elsevier. https://doi.org/10.1016/B978-0-12-824295-7.00008-5
Pilinkienė, V., Stundziene, A., Stankevicius, E., & Grybauskas, A. (2021). Impact of the economic stimulus measures on Lithuanian Real Estate Market under the conditions of the COVID-19 pandemic. Engineering Economics, 32(5), 459–468. https://doi.org/10.5755/j01.ee.32.5.28057
Pu, Z., & Fu, J. (2018). Economic growth, environmental sustainability and China mayors’ promotion. Journal of Cleaner Production, 172, 454–465. https://doi.org/10.1016/j.jclepro.2017.10.162
Qin, Y., Wang, X., Xu, Z., & Škare, M. (2021). The impact of poverty cycles on economic research: Evidence from econometric analysis. Economic Research, 34(1), 152–171. https://doi.org/10.1080/1331677X.2020.1780144
Radivojevic, N., & Jovovic, J. (2017). Examining of determinants of non-performing loans. Prague Economic Papers, 26(3), 300–316. https://doi.org/10.18267/j.pep.615
Ramachann, N., Al-muqaimi, S. K., & Al-hajri, N. R. (2022). Characteristics of Audit Committee and Banking Sector Performance in Oman. Journal of Corporate Governance, Insurance, and Risk Management, 9(S1), 263-273.
Rašidagić, E. K., & Hesova, Z. (2020). Development of Turkish foreign policy towards the Western Balkans with Focus on Bosnia and Herzegovina. Croatian International Relations Review, 26(86), 96–129. https://doi.org/10.37173/cirr.26.86.4
Reuters. (2020, August 30). China’s big banks brace for lagging COVID-19 risks as bad loans rise. https://www.reuters.com/article/china-banks/wrapup-1-chinas-big-banks-brace-for-lagging-covid-19-risks-as-bad-loans-rise-idUSL4N2FW07R
Ribaudo, G. (2020). Brand’s country-of-origin effect on demand for hotels: An exploratory study. Contemporary Economics, 14(1), 58–72. https://ssrn.com/abstract=3730045
Rinaldi, L., & Sanchis-Arellano, A. (2006). Household debt sustainability: What explains household non-performing loans? An empirical analysis (ECB Working Paper No. 570). https://doi.org/10.2139/ssrn.872528
Salman, Z. T., & Hidan, N. K. (2019). Corruption as one of the obstacles to political stability in Iraq. Tikrit Journal For Political Science, 2019(3), 390–410.
Sell, F. (2020). Static and dynamic price effects motivated by innovation and imitation: Novel insights using the Barone’s Curve. Contemporary Economics, 14(1), 73–89.
Service, R. (2021). Cities of consumers: A reading of the 2011 English riots. Social Space Journal, 21(1), 53–67. https://bibliotekanauki.pl/articles/1939479.pdf
Shah, W. U. H., Hao, G., Yan, H., & Yasmeen, R. (2022). Efficiency evaluation of commercial banks in Pakistan: A slacks-based measure Super-SBM approach with bad output (Non-performing loans). PloS ONE, 17(7), Article e0270406. https://doi.org/10.1371/journal.pone.0270406
Sigurdsson, V., Larsen, N. M., Gudmundsdottir, H. K., Alemu, M. H., Menon, R. G. V., & Fagerstrøm, A. (2021). Social media: Where customers air their troubles – How to respond to them? Journal of Innovation & Knowledge, 6(4), 257–267. https://doi.org/10.1016/j.jik.2021.07.001
Singh, S. K., Basuki, B., & Setiawan, R. (2021). The effect of non-performing loan on profitability: Empirical evidence from Nepalese commercial banks. The Journal of Asian Finance, Economics and Business, 8(4), 709–716.
Sunardi, S., Damayanti, T. W., & Supramono, S. (2021). Does female top managers’debt preference shift? If firm experiences sales growth. International Journal of Economics and Finance Studies, 13(1), 90–109.
Tetrevova, L., Jelínková, M., & Munzarova, S. (2021). Traditional and developing segments of the sharing economy from the point of view of customers. Engineering Economics, 32(5), 469–483. https://doi.org/10.5755/j01.ee.32.5.28337
Ulutas, A., Popovic, G., Radanov, P., Stanujkic, D., & Karabasevic, D. (2021). A new hybrid fuzzy PSI-PIPRECIA-CoCoSo MCDM based approach to solving the transportation company selection problem. Technological and Economic Development of Economy, 27(5), 1227–1249. https://doi.org/10.3846/tede.2021.15058
Vinte, C., Smeureanu, I., Dârdală, M., & Reveiu, A. (2021). Sustainable development in education – automating curriculum assessment. Technological and Economic Development of Economy, 27(5), 1159–1185. https://doi.org/10.3846/tede.2021.15018
Vouldis, A. T., & Louzis, D. P. (2018). Leading indicators of non-performing loans in Greece: The information content of macro-, micro-and bank-specific variables. Empirical Economics, 54(3), 1187–1214. https://doi.org/10.1007/s00181-017-1247-0
Wang, Z., Wang, Z., Xu, G., Ren, J., Wang, H., & Li, J. (2020). Sustainability assessment of straw direct combustion power generation in China: From the environmental and economic perspectives of straw substitute to coal. Journal of Cleaner Production, 273, Article 122890. https://doi.org/10.1016/j.jclepro.2020.122890
Wildau, G. (2017). China overtakes Eurozone as world’s biggest bank system. Financial Times. https://www.ft.com/content/14f929de-ffc5-11e6-96f8-3700c5664d30
Wolfe, M. T., Patel, P. C., & Manikas, A. S. (2021). Shock and awe: Loudness and unpredictability in Twitter messages and crowdfunding campaign success. Journal of Innovation & Knowledge, 6(4), 246–256. https://doi.org/10.1016/j.jik.2021.06.002
Wood, A., & Skinner, N. (2018). Determinants of non-performing loans: Evidence from commercial banks in Barbados. The Business & Management Review, 9(3), 44–64.
Wynn, M. (2021). Storied identity: Reading the Bible Eucharistically. European Journal for Philosophy of Religion, 13(4). https://doi.org/10.24204/ejpr.2021.3724
Xiao, J. J., Serido, J., & Shim, S. (2011). Financial education, financial knowledge, and risky credit behavior of college students. In Lamdin, D. J. (Ed.), Consumer knowledge and financial decisions (pp. 113–128). Springer. https://doi.org/10.1007/978-1-4614-0475-0_8
Yang, L., Huang, B., Mao, M., Yao, L., Niedermann, S., Hu, W., & Chen, Y. (2016). Sustainability assessment of greenhouse vegetable farming practices from environmental, economic, and socio-institutional perspectives in China. Environmental Science and Pollution Research, 23(17), 17287–17297. https://doi.org/10.1007/s11356-016-6937-1
Zheng, C., Bhowmik, P. K., & Sarker, N. (2020). Industry-specific and macroeconomic determinants of non-performing loans: A comparative analysis of ARDL and VECM. Sustainability, 12(1), Article 325. https://doi.org/10.3390/su12010325
Zia, S., ur Rahman, M., Noor, M. H., Khan, M. K., Bibi, M., Godil, D. I., Quddoos, M. U., & Anser, M. K. (2021). Striving towards environmental sustainability: How natural resources, human capital, financial development, and economic growth interact with ecological footprint in China. Environmental Science and Pollution Research, 28(37), 52499–52513. https://doi.org/10.1007/s11356-021-14342-2