Figure 1 Study framework A diagram illustrating the study framework for CBDC use behavior. A diagram illustrating the study framework for CBDC use behavior. The diagram includes several factors influencing CBDC use behavior and intention to use CBDC. Performance expectancy, effort expectancy, ... More about this image found in Study framework A diagram illustrating the study framework for CBDC use ...

Figure 1 Conceptual framework A conceptual framework diagram illustrating the relationship between foreign bank presence, institutional quality, and financial stability. A conceptual framework diagram illustrating the relationship between foreign bank presence, institutional quality, and finan... More about this image found in Conceptual framework A conceptual framework diagram illustrating the rel...

Figure 2 Correlation matrix of key variables. Source: Author’s work A heat map showing the correlation matrix of key variables. A heat map displays the correlation matrix of key variables, with a color scale indicating the correlation coefficient ranging from -0.6 to 0.6. The heat map features... More about this image found in Correlation matrix of key variables. Source: Author’s work A heat map sh...

Figure 3 Trends in ZSCORE, FBP (FS1, FS2), and EWDI before and after COVID-19. Notes: Trends are shown for four key variables from 2010–2019 (pre-COVID, black) and 2020–2024 (post-COVID, red). Variables include ZSCORE (banking stability), FS2 (foreign bank asset share), FS1 (foreign bank number share), and EWGI (governance quality). Solid lines show annual means; shaded areas represent ±1 standard deviation. Dashed lines indicate linear trends within each period. Source: Author’s work Four line graphs compare trends in banking stability, foreign bank presence, and governance quality before and after COVID-19. Four line graphs depict trends in banking stability, foreign bank presence, and governance quality before and after COVID-19. Panel A shows the trend of ZSCORE, with the y-axis labeled 'Average ZSCORE' and the x-axis labeled 'Year'. The graph includes data from 2010 to 2024, with pre-COVID data in black and post-COVID data in red. The shaded areas represent 1 standard deviation, and dashed lines indicate linear trends within each period. Panel B shows the trend of Foreign Bank Asset Share (FS2), with the y-axis labeled 'Average FS2 (Foreign Bank Asset Share)' and the x-axis labeled 'Year'. Panel C shows the trend of Foreign Bank Number (FS1), with the y-axis labeled 'Average FS1 (Foreign Bank Number)' and the x-axis labeled 'Year'. Panel D shows the trend of EWGI, with the y-axis labeled 'Average EWGI' and the x-axis labeled 'Year'. Each graph includes data from 2010 to 2024, with pre-COVID data in black and post-COVID data in red. More about this image found in Trends in ZSCORE, FBP (FS1, FS2), and EWDI before and after COVID-19.

Figure 1 Top tourist nations [1] A world map highlighting top tourist nations with different colors for each country. A world map highlighting top tourist nations with different colors for each country. The map uses distinct colors to represent various countries known for tourism. Spain is m... More about this image found in Top tourist nations [1] A world map highlighting top tourist nations w...

Figure 2 Trends of the variables Multiple line graphs depict trends of variables for different countries over time. The image contains four separate line graphs, each depicting trends of variables for different countries over time. The graphs are arranged in a 2x2 grid. The x-axis of each grap... More about this image found in Trends of the variables Multiple line graphs depict trends of variables ...

Figure 3 Kernel density graph Five kernel density estimate graphs showing density distributions for different variables. Five kernel density estimate graphs depict density distributions for different variables. Panel A: The graph shows the density distribution for the variable FDI. The x-axis ... More about this image found in Kernel density graph Five kernel density estimate graphs showing density...

Figure 4 Methodological flow A flowchart illustrating the stages of a research methodology. The flowchart begins with Data Collection from sources such as World Bank and OECD. Next is Preliminary Analysis, which includes Descriptive Test, CSD, CIPS, CADF, and SH Test. Following this is Panel C... More about this image found in Methodological flow A flowchart illustrating the stages of a research me...

Figure 1 Median cumulative returns of DRL agents and benchmarks (2023–2025). PPO achieves the highest cumulative performance, followed by TD3, while SAC and TQC remain closer to benchmark levels. The results represent the median of ten independent runs using five Vietnamese equities A line grap... More about this image found in Median cumulative returns of DRL agents and benchmarks (2023–2025). PPO ach...

Figure 2 Checkpoint-based Sharpe ratio convergence for representative training runs. PPO (green) achieves the highest and most consistent improvement, followed by TD3 (cyan) and RecurrentPPO (light purple), whereas SAC (light orange) and TQC (pink) remain comparatively flat A line graph showing... More about this image found in Checkpoint-based Sharpe ratio convergence for representative training runs....

Figure 3 Median annual return and maximum drawdown of DRL agents and benchmarks over ten runs. Blue bars indicate return; red bars indicate drawdown A bar graph comparing median annual return and median max drawdown for different agents over ten runs. The bar graph compares median annual retur... More about this image found in Median annual return and maximum drawdown of DRL agents and benchmarks over...

Figure 4 Distribution of Sharpe ratios across ten independent experimental runs. PPO attains the highest median and lowest dispersion, while other agents such as RecurrentPPO, SAC and TD3 show wider variability A box-and-whisker plot showing the distribution of Sharpe ratios for different strat... More about this image found in Distribution of Sharpe ratios across ten independent experimental runs. PPO...