Does leverage fit non-performing loans in the COVID-19 pandemic – evidence from the Vietnamese banking system

References

• Abdioglu, N., & Aytekin, S. (2016). Assessing the factors that impact non-performing loan ratio: an application on deposit banks by using dynamic panel data. Journal of Business Research, 8(1), 538–17. https://doi.org/10.20491/isader.2016.159
   Google Scholar
• Afriyie, H. O., & Akotey, J. O. (2013). Credit risk management and profitability of selected rural banks in Ghana. Journal of Risk Finance, 4(2), 1–18. https://www.iiste.org/Journals/index.php/EJBM/article/view/8027
   Google Scholar
• Ahmad, M. I., Guohui, W., Hassan, M., Naseem, M. A., & Rehman, R. U. (2016). NPL and corporate governance: A case of banking sector of Pakistan. Accounting and Finance Research, 5(2), 32–41. https://doi.org/10.5430/afr.v5n2p32
   Google Scholar
• Alexandri, M. B., & Santoso, T. I. (2015). Non performing loan: Impact of internal and external factor (evidence in Indonesia). International Journal of Humanities and Social Science Invention, 4(1), 87–91. http://www.ijhssi.org/v4i1(version%204).html
   Google Scholar
• Al Marzouqi, R. N., Sami, B., & Kotak. (2015). What matters for financial development and stability? International Monetary Fund.
   Google Scholar
• Al-Smadi, M. O., & Ahmad, N. H. (2009). Factors affecting banks credit risk: Evidence from Jordan. Malaysia. College of Business, University Utara Malaysia.
   Google Scholar
• Altman, E. (1968). Financial ratios, discriminant analysis and the prediction of corporate bankruptcy. Journal of Finance, 23(4), 589–609. https://doi.org/10.1111/j.1540-6261.1968.tb00843.x
   Web of Science ®Google Scholar
• Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte carlo evidence and an application to employment equations. The Review of Economic Studies, 58(2), 277–297. https://doi.org/10.2307/2297968
   Web of Science ®Google Scholar
• Asari, F. F., Muhamad, N. A., Ahmad, W., Latif, N. I., Abdullah, N., & Jusoff, K. (2011). An analysis of nonperforming loan, interest rate & inflation rate using STATA software. World Applied Sciences Journal, 12, 41–48. http://psasir.upm.edu.my/id/eprint/44545/
   Google Scholar
• Bae, K.-H., Ghoul, S. E., Guedhami, O., Kwok, C. C., & Zheng, Y. (2019). Does corporate social responsibility reduce the costs of high leverage? Evidence from capital structure and product market interactions. Journal of Banking & Finance, 100(2019), 135–150. https://doi.org/10.1016/j.jbankfin.2018.11.007
   Google Scholar
• Baholli, F., Dika, I., & Xhabija, G. (2015). Analysis of factors that influence non-performing loans with econometric model: Albanian case. Mediterranean Journal of Social Sciences, 6(1), 391–398. https://doi.org/10.5901/mjss.2015.v6n1p391
   Google Scholar
• Balgova, M., Nies, M., & Plekhanov, A. (2016). The economic impact of reducing non-performing loans. University of Oxford.
   Google Scholar
• Barr, R., & Siems, T. (1994). Predicting bank failure using DEA to quantify management quality. In Financial industry Studies (pp. 1–31). Federal Reserve Bank of Dallas.
   Google Scholar
• Bayar, Y. (2019). Macroeconomic, institutional and bank-specific determinants of non-performing loans in emerging market economies: A dynamic panel regression analysis. Journal of Central Banking Theory and Practice, 3(3), 95–110. https://doi.org/10.2478/jcbtp-2019-0026
   Google Scholar
• Berger, A. N., & DeYoung, R. (1997). Problem Loans and Cost Efficiency in Commercial Banks. Journal of Banking and Finance, 21(6), 849–870. https://doi.org/10.1016/S0378-4266(97)00003-4
   Web of Science ®Google Scholar
• Binks, M., & Ennew, T. (1997). Small business and relationship banking: The impact of participative behavior and entrepreneurship. Macmillan.
   Google Scholar
• Boulila Taktak, N., Ben Slama Zouari, S., & Boudriga, A. (2010). Do Islamic banks use loan loss provisions to smooth their results? Journal of Islamic Accounting and Business Research, 1(2), 114–127. https://doi.org/10.1108/17590811011086714
   Google Scholar
• Brownbrigde, M. (2007). United Nations Conference onTrade and Development (UNCTAD). UNCTAD/OSG/DP/132
   Google Scholar
• Bui, D. A. (2012). Loan portfolio management at Vietnamese joint stock commercial banks. Ph.D Thesis. Banking University of Ho Chi Minh city.
   Google Scholar
• Chaibi, H., & Ftiti, Z. (2015). Credit risk determinants: Evidence from a cross-country study. Research in International Business and Finance, 33(2015), 1–16. https://doi.org/10.1016/j.ribaf.2014.06.001
   Google Scholar
• Chau, D. L. (2017). The effectiveness of NPLs to bank efficiency at Vietnam commercial banking system. PhD Thesis. Ho Chi Minh City Banking University of Hochiminh City.
   Google Scholar
• Chen, W.-P., Chung, H., Lee, C., & Liao, W.-L. (2007). Corporate governance and equity liquidity: Analysis of S&P transparency and disclosure rankings. Corporate Governance: An International Review, 15(4), 644–660. https://doi.org/10.1111/j.1467-8683.2007.00594.x
   Web of Science ®Google Scholar
• Chen, V., Li, J., & Shapiro, D. (2011). Are OECD-prescribed “good corporate governance practices” really good in an emerging economy? Asia Pacific Journal of Management, 28(1), 115–138. https://doi.org/10.1007/s10490-010-9206-8
   Web of Science ®Google Scholar
• Choi, I. (2001). Unit root tests for panel data. Journal of International Money and Finance, 20(2), 249–272. https://doi.org/10.1016/S0261-5606(00)00048-6
   Web of Science ®Google Scholar
• Curak, M., Pepur, S., & Poposki, K. (2013). Determinants of non-performing loans – evidence from Southeastern European banking systems. Banks and Bank Systems, 8(1), 45–53. https://www.businessperspectives.org/author/marijana-curak
   Google Scholar
• De Bock, R., & Demyanets, A. (2012). Bank asset quality in emerging markets: Determinants and spillovers. Working Paper Series, No. wp/12/71. International Monetary Fund.
   Google Scholar
• Deshmukh, S. (2005). The effect of asymmetric information on dividend policy. Quarterly Journal of Business and Economics, 44 (1/2), 107–127. https://www.jstor.org/stable/40473398
   Google Scholar
• Ding, W., Levine, R., Lin, C., & Xie, W. (2021). Corporate immunity to the COVID-19 pandemic. Journal of Financial Economics, 141(2), 802–830. https://doi.org/10.1016/j.jfineco.2021.03.005
   PubMed Web of Science ®Google Scholar
• Donaldson, L., & Davis, J. H. (1991). Stewardship theory or agency theory: CEO Governance and shareholder returns. Economics - Australian Journal of Management, 15(3), 369–381. https://doi.org/10.1177/031289629101600103
   Google Scholar
• Edwards, P., & Turnbull, A. (1994). Finance for small and medium sized enterprises. Information and the income gearing challenge. International Journal of Marketing, 12(6), 3–9. https://doi.org/10.1108/02652329410048275
   Google Scholar
• Eisenhardt, K. M. (1989). Agency theory: An assessment and review. Academy of Management Review, 14(1), 57–74. https://doi.org/10.2307/258191
   Web of Science ®Google Scholar
• Ellis, K. A.-S., & Jordi, M. G. (2015). Effect of internal controls on credit risk among listed Spanish banks. Intangible Capital, 13(1), 25–50. http://dx.doi.org/10.3926/ic.703
   Web of Science ®Google Scholar
• Fama, E., & Jensen, M. (1983). Agency problems and residual claims. The Journal of Law & Economics, 26(2), 327. https://doi.org/10.1086/467038
   Web of Science ®Google Scholar
• Foglia, M. (2022). Non-Performing loans and macroeconomics factors: The Italian Case. Risks, 10(1), 1–13. https://doi.org/10.3390/risks10010021
   Web of Science ®Google Scholar
• Freeman, E. (1984). Strategic management: A stakeholder approach. Pitman.
   Google Scholar
• Frierman, M., & Viswanath, P. (1994). Agency problems of debt, convertible securities, and deviations from absolute priority in bankruptcy. Journal of Law and Economics, 37(2), 455–476. https://doi.org/10.1086/467320
   Web of Science ®Google Scholar
• Ghosh, A. (2015). Banking-Industry specific and regional economic determinants of non-performing loans: Evidence from US states. Journal of Financial Stability, 20(2015), 93–104. https://doi.org/10.1016/j.jfs.2015.08.004
   Web of Science ®Google Scholar
• Gómez, R. (2016). BASEL III Setting a limit to leverage in banking. BBVA Research. Regulation Economic Watch
   Google Scholar
• Goodell, J. W. (2020). COVID-19 and finance: Agendas for future research. Finance Research Letters, 35(2020), 1–13. https://doi.org/10.1016/j.frl.2020.101512
   Google Scholar
• Hannoun, H. (2010). The Basel III Capital Framework: A decisive breakthrough. In BoJ-BIS high level seminar on financial regulatory reform: Implications for Asia and the Pacific (pp. 16). Bank for International Settlement.
   Google Scholar
• Hardiyanti, S. E., & Aziz, L. H. (2021). The Case of COVID-19 impact on the level of non-performing loans of conventional commercial banks in Indonesia. Banks and Bank Systems, 161, 62–68. http://doi.org/10.21511/bbs.16(1).2021.06
   Google Scholar
• Hayes, A. F., & Krippendorff, K. (2007). Answering the call for a standard reliability measure for coding data. Communication Methods and Measures, 1(1), 77–89. https://doi.org/10.1080/19312450709336664
   Google Scholar
• Hillegeist, S. A., Keating, E. K., Cram, D. P., & Lundstedt, K. G. (2004). Assessing the probability of bankruptcy. Review of Accounting Studies, 9(1), 5–34. https://doi.org/10.1023/B:RAST.0000013627.90884.b7
   Web of Science ®Google Scholar
• Husnin, A. I., Nawawi, A., Salin, A. S. A. P., Zhou, H., & Zhou, H. (2016). Corporate governance and auditor quality – Malaysian evidence. Asian Review of Accounting, 24(2), 202–230. https://doi.org/10.1108/ARA-11-2013-0072
   Google Scholar
• IMF. (2006). Lessons of the global crisis for macroeconomic policy. IMF Staff Paper No. 09/37. Washington, DC: International Monetary Fund.
   Google Scholar
• Isaev, M., & Masih, M. (2017). Macroeconomic and bank-specific determinants of different categories of non-performing financing in Islamic banks: Evidence from Malaysia. MPRA Paper. Malaysia.
   Google Scholar
• Jais, K. M., Nawawi, A., & Salin, A. S. A. P. (2016). Reduction of audit quality by auditors of small and medium size audit firms in Malaysia: A case of premature sign-off of audit documents. Journal of Accounting, Business & Management, 23(2), 1–12. http://journal.stie-mce.ac.id/index.php/jabminternational/article/view/104
   Google Scholar
• Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X
   Web of Science ®Google Scholar
• Karim, M. Z. A., Chan, S. G., & Và Hassan, S. (2010). Bank efficiency and non-performing loans: Evidence from Malaysia and Singapore. Prague Economic Papers, 19(2), 118–132. https://doi.org/10.1016/0304-405X(76)90026-X
   Web of Science ®Google Scholar
• Kastrati, A. (2011). The determinants of non-performing loans in transition countries. Financial Stability Report, Central Bank of the Republic of Kosovo, 97–102.
   Google Scholar
• Keeton, W. R. (1999). Does faster loan growth lead to higher loan losses? Federal Reserve Bank of Kansas City Economic Review, 84(Quarter 2), 57–75. https://citeseerx.ist.psu.edu/viewdoc/summary?doi=10 .1.1.161.788
   Google Scholar
• Kini, O., Kracaw, W., & Mian, S. (2004). The nature of discipline by corporate takeovers. Journal of Finance, 59(4), 1511–1552. https://doi.org/10.1111/j.1540-6261.2004.00671.x
   Web of Science ®Google Scholar
• Klein, N. (2013). Non-performing loans in CESEE: Determinants and impact on macroeconomic performance. IMF Working Paper. WP13/72. IMF.
   Google Scholar
• Klein, L. S., O’Brien, T. J., & Peters, S. R. (2002). Debt vs. Equity and asymmetric information: A Review. Financial Review, 37(3), 317–349. https://doi.org/10.1111/1540-6288.00017
   Google Scholar
• 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
   Web of Science ®Google Scholar
• Kupčinskas, K., & Paškevičius, A. (2017). Key factors of non-performing loans in Baltic and Scandinavian countries: Lessons learned in the last decade. EKONOMIKA, 96(2), 43–55. https://doi.org/10.15388/Ekon.2017.2.10994
   Google Scholar
• Lakis, V., & Giriunas, L. (2012). The concept of internal control system: Theoretical aspect. Ekonomika, 91(2), 142–152. https://doi.org/10.15388/EKON.2012.0.890
   Google Scholar
• Lin, X. C., Zhang, Y., & Wu, H. X. (2009). Bank ownership reform and bank performance in China. Journal of Banking & Finance, 58(2009), 131–143. https://doi.org/10.1016/j.jbankfin.2015.02.012
   Google Scholar
• Louzis, D. P., Vouldis, A. T., & Metaxas, V. L. (2010). Macroeconomic and bank specific determinants of non-performing loans in Greece: A comparative study of mortgage, business and consumer loan portfolios. Bank of Greece.
   Google Scholar
• Louzis, D. P., Vouldis, A. T., & Metaxas, V. L. (2012). Macroeconomic and bank-specific determinants of non-performing loans in Greece: A comparative study of mortgage, business and consumer loan portfolios. Journal of Banking & Finance, 36(4), 1012. https://doi.org/10.1016/j.jbankfin.2011.10.012
   Web of Science ®Google Scholar
• 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
   Web of Science ®Google Scholar
• Messai, A. S., & Jouini, F. (2013). Micro and macro determinants of non-performing loans. International Journal of Economics and Financial Issues, 3(4), 852–860. https://www.econjournals.com/index.php/ijefi/article/view/517
   Google Scholar
• Mileris, R. (2012). Macroeconomic determinants of loan portfolio credit risk in banks. Inzinerine Ekonomika-Engineering Economics, 23(5), 496–504. http://dx.doi.org/10.5755/j01.ee.23.5.1890
   Web of Science ®Google Scholar
• Mishkin, F. (2006). The economics of money, banking and financial markets. Pearson Education Inc.
   Google Scholar
• Mohanty, A. (2018). Determinants of non-performing loans in India: A system GMM panel approach. Prajnan, XLVII(1), 38–56. https://www.econbiz.de/Record/determinants-of-non-performing-loans-in-india-a-system-gmm-panel-approach-mohanty-asit-ranjan/10012019099
   Google Scholar
• Morgado, A., & Pindado, J. (2003). The underinvestment and overinvestment hypotheses: An analysis using panel data. European Financial Management, 9(2), 163–177. https://doi.org/10.1111/1468-036X.00214
   Google Scholar
• Muratbek, D. (2017). Determinants of Non-performing loans in Kazakhstan. WEI International Academic Conference Proceedings (pp. 6–32). Vienna, Austria: The West East Institute.
   Google Scholar
• Muriithi, J. W. (2014). The effect of non perfoming loans on liquidity risk of commercial banks in Kenya. In Research Project. University of Nairobi - School of Business.
   Google Scholar
• Nguyen, D. T. (2012). Credit risk management at Joint Stock Commercial Bank for Industry and Trade of Vietnam. Ph.D Thesis. National Economics University.
   Google Scholar
• Nguyen, T. H. (2017). Non-performing loans of Vietnam’s commercial banking system. Doctoral thesis. Ho Chi Minh City Banking University of Hochiminh City.
   Google Scholar
• Nguyen Kim, Quoc Trung. (2020). The determinants affect non-performing loans at joint-stock commercial banks in Vietnam. Ph.D Thesis. University of Technology Ho Chi Minh City. http://lib.hutech.edu.vn/chi-tiet?id=148683
   Google Scholar
• Nguyen Kim, Quoc Trung. (2019). Determinants of Non-performing loan in commercial banks: Evidence in Vietnam. Journal of Science and Technology, 37B(1), 72–89. https://doi.org/10.46242/jst-iuh.v37i01.311
   Google Scholar
• Olatunji, O. (2009). Impact of internal control system on banking sector in Nigeria. Pakistan Journal of Social Sciences, 6(14), 181–189. https://medwelljournals.com/abstract/?doi=pjssci.2009.181.189
   Google Scholar
• Omran, M. A., & Ramdhony, D. (2015). Theoretical perspectives on corporate social responsibility disclosure: A critical review. International Journal of Accounting and Financial Reporting, 5(2), 38–55. https://doi.org/10.5296/ijafr.v5i2.8035
   Google Scholar
• Paul, R., & Krugman Và Maurice, O.2006.Exchange rates and the foreign exchange market: An asset approach,Paul, International Economics Theory and Policy (7). R. K Pearson Addison-Wesley.
   Google Scholar
• Petersson, J., & Wadman, I. (2004). Non Performing Loans - The markets of Italy and Sweden. Department of Business Studies - UPPSALA UNIVERSITY.
   Google Scholar
• Pham, D.P.T, & Nguyen, L. D. (2018). Factors affecting non-performing loan ratios of joint stock commercial banks in Vietnam. Banking Science & Training Review, 194(7), 1–10. https://hvnh.edu.vn/tapchi/vi/thang-7-2018
   Google Scholar
• Phu Hung Securities Corporation. (2020). Banking industry report June 19th 2020. Ho Chi Minh City
   Google Scholar
• Quagliarello, M. (2007). Banks’ riskiness over the business cycle: A panel analysis on Italian intermediaries. Journal Applied Financial Economics, 17(2), 119–138. https://doi.org/10.1080/09603100500486501
   Google Scholar
• Quoc Trung, N. K. . (2021b). The relationship between internal control and credit risk–The case of commercial banks in Vietnam. Cogent Business and Management, 8(1), 1–17. https://doi.org/10.1080/23311975.2021.1908760
   Web of Science ®Google Scholar
• QuocTrung, NguyenKim, Bui, Q. H., & Nguyen, T. B. (2020). Impacts upon non-performing loans in commercial banks: A Vietnamese case study. International Journal of Innovation, Creativity and Change, 13(6), 940–959 https://www.ijicc.net/index.php/volume-13-2020/189-vol-13-iss-6.
   Google Scholar
• Quoc Trung, N. K., & Tan, A. W. K. (2021). Determinants of small and medium-sized enterprises performance: The evidence from Vietnam. Cogent Business and Management, 8(1), 1–26. https://doi.org/10.1080/23311975.2021.1984626
   Web of Science ®Google Scholar
• Radivojevic, N., & Jovovic, J. (2017). Examining of Determinants of Non-Performing Loans. Prague Economic Papers, (3), 300–316.
   Google Scholar
• Reddy, K. S. (2015). Non-Performing loans in emerging economies – case study of India. Asian Journal of Finance & Accounting, 7(1), 183–206. https://doi.org/10.5296/ajfa.v7i1.7687
   Google Scholar
• Roodman, D. (2009). How to Do xtabond2: An Introduction to “Difference” and “System” GMM in Stata. Stata Journal, 9(1), 86–136. https://doi.org/10.1177/1536867X0900900106
   Web of Science ®Google Scholar
• Rosenstein, S., & Wyatt, J. G. (1990). Outside directors, board Independence and shareholder wealth. Journal of Financial Economics, 26(2), 175–191. https://doi.org/10.1016/0304-405X(90)90002-H
   Web of Science ®Google Scholar
• Rutherford, M. A., & Buchholtz, A. K. (2007). Investigating the relationship between board characteristics and board information. Corporate Governance: An International Review, 15(4), 576–584. https://doi.org/10.1111/j.1467-8683.2007.00589.x
   Web of Science ®Google Scholar
• Salin, A. S., Manan, S. K., Kamaluddin, N., & Nawawi, A. (2017). The role of Islamic ethics to prevent corporate fraud. International Journal of Business and Society, 18(S1), 113–128.
   Google Scholar
• Sargan, J. D. (1958). The estimation of economic relationships using instrument variables. Econometrica, 26(3), 393–415. https://doi.org/10.2307/1907619
   Web of Science ®Google Scholar
• Shah, S. N. (2014). The Principal–Agent Problem in Finance. The CFA Institute Research Foundation.
   Google Scholar
• Shleifer, A., & Vishny, R. (1997). A Survey of Corporate Governance. Journal of Finance, 52(2), 737–783. https://doi.org/10.1111/j.1540-6261.1997.tb04820.x
   Web of Science ®Google Scholar
• Shrives, R. E., & Dahl, D. (1995). The relationship between risk and capital in commercial banks. Journal of Banking and Finance, 16(2), 439–457. https://doi.org/10.1016/0378-4266(92)90024-T
   Google Scholar
• Sinkey, J. F., & Greenawalt, M. B. (1991). Loan loss experience and risk-taking behaviour at large commercial banks. Journal of Financial Services Research, 5(1), 43–59. https://doi.org/10.1007/BF00127083
   Google Scholar
• Skarica, B. (2014). Determinants of non-performing loans in central and Eastern European countries. Financial Theory and Practice, 38(1), 37–59. https://doi.org/10.3326/fintp.38.1.2
   Google Scholar
• Škarica, B. (2013). Determinants of non-performing loans in central and Eastern European countries. Finance Theory and Practice, 38(1), 37–59.
   Google Scholar
• Stiglitz, J., & Weiss, A. (1981). Credit rationing in markets with imperfect competition. American Economic Review, 71(3), 393–410.
   Web of Science ®Google Scholar
• Suhaimi, N. S., Nawawi, A., & Salin, A. S. (2017). Determinants and problems of successful ERP implementations – Malaysian experience. International Journal of Advanced Operations Management, 9(3), 207–223. https://doi.org/10.1504/IJAOM.2017.088252
   Google Scholar
• The State Bank of Vietnam. (2022). Overview of bad debt of the banking industry and some recommendations. https://www.sbv.gov.vn/webcenter/portal/vi/menu/fm/ddnhnn/nctd/nctd_chitiet?leftWidth=20%25&showFooter=false&showHeader=false&dDocName=SBV489213&rightWidth=0%25¢erWidth=80%25&_afrLoop=56460127007884224#%40%3F_afrLoop%3D56460127007884224%26centerWidth
   Google Scholar
• Tiwu, M. I. (2020). Pengaruh pandemic covid 19 terhadap npl bank perkreditan rakyat di Indonesia. Jurnal Akuntansi: Transparansi dan Akuntabilitas, 8(2), 79–87. https://doi.org/10.35508/jak.v8i2.2869
   Google Scholar
• Tricker, R. (1994). International Corporate Governance. Prentice-Hall.
   Google Scholar
• Vardar, G., & Özgüler, İ. C. (2015). Short term and long term linkages among nonperforming loans, macroeconomic and bank specific factors: An empirical analysis for Turkey. Ege Academic Review, 15(3), 313–325. https://dergipark.org.tr/en/pub/eab/issue/39943/474597
   Google Scholar
• VNDIRECT Securities Corporation. (2020). Banking industry report April 24th 2020. Ha Noi
   Google Scholar
• Waqas, M., Fatima, N., Khan, A., & Arif, M. (2017). Determinants of Non-performing Loans: A Comparative Study of Pakistan, India, and Bangladesh. Journal of Finance & Banking Studies, 6(1), 51–68. https://doi.org/10.20525/ijfbs.v6i1.617
   Google Scholar
• Yulianti, E., Aliamin, A., & Ibrahim, R. (2018). The effect of capital adequacy and bank size on non-performing loans in Indonesian public banks. Journal of Accounting Research, Organization and Economics, 1(2), 205–214. https://doi.org/10.24815/jaroe.v1i2.11709
   Google Scholar
• Zheng, C., Bhowmik, P. K., & Sarker, N. (2019). Industry-Specific and macroeconomic determinants of non-performing loans: A comparative analysis of ARDL and VECM. Sustainability, 12(1), 325. https://doi.org/10.3390/su12010325
   Web of Science ®Google Scholar
• Zribi, N., & Boujelbène, Y. (2011). The factors influencing bank credit risk: The case of Tunisia. Journal of Accounting and Taxation, 3(4), 70–78. https://doi.org/10.5897/JAT11.006
   Google Scholar
• Žunić, A., Kozarić, K., & Dželihodžić, E. Ž. (2021). Non-performing loan determinants and impact of COVID-19: case of Bosnia and Herzegovina. Journal of Central Banking Theory and Practice, 10(3), 5–22. https://doi.org/10.2478/jcbtp-2021-0021
   Web of Science ®Google Scholar