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Journal of Risk and Financial Management, Volume 14, Issue 1

2021 January - 41 articles

Cover Story: A new year has arrived, but the COVID-19 pandemic has removed any chance of a clean slate, as it has had parallel and uneven worldwide shocks on the economy. Stock markets were as usual the first to react, and within this context, they presented drop rates which were as significant as those seen in the global financial crisis of 2008. This study uses daily data to model the impact of the COVID-19 pandemic on the first affected countries’ stock market indices and global commodity markets. The results confirm the negative short-term impact of the virus spread rate on the returns of the stock market indices and partial negative effects on commodities. View this paper.
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Articles (41)

  • Article
  • Open Access
14 Citations
7,751 Views
20 Pages

This paper conducts a review on theoretical and empirical findings on the increasingly popular measure of trade policy uncertainty (TPU) in economics and finance. Moreover, an empirical investigation takes place in order to find the impact that TPU e...

  • Article
  • Open Access
74 Citations
14,460 Views
19 Pages

The Concept of Sustainable Rural Tourism Development in the Face of COVID-19 Crisis: Evidence from Russia

  • Anna Polukhina,
  • Marina Sheresheva,
  • Marina Efremova,
  • Oxana Suranova,
  • Oksana Agalakova and
  • Anton Antonov-Ovseenko

In the context of globalized processes, the importance of the sustainable development concept in solving the problems of local tourism systems development is growing. Unprecedented challenges caused by the COVID-19 crisis in the tourism sector, on th...

  • Article
  • Open Access
21 Citations
4,078 Views
58 Pages

Rising concerns over climate change have increased investors’ and policymakers’ interests in environmentally friendly investments, which have led to the rapid expansion of the green equity market recently. Previous studies have focused on...

  • Article
  • Open Access
9 Citations
5,191 Views
18 Pages

Factors Influencing the Extent of the Ethical Codes: Evidence from Slovakia

  • Jana Kozáková,
  • Mária Urbánová and
  • Radovan Savov

Even though formalization of ethical principles is a must in today’s business, research and evidence in the Slovak conditions remain scarce. Yet, creating an ethical business climate and especially the formalization of ethics through codes of e...

  • Article
  • Open Access
17 Citations
22,802 Views
21 Pages

Much research has examined performance or market efficiency by using the moving average convergence divergence (MACD) technical analysis tool. However, most tests fail to verify efficiency with the traditional parameter settings of 12, 26, and 9 days...

  • Article
  • Open Access
3 Citations
4,637 Views
26 Pages

Economic sanctions are among the most powerful instruments of international policy. However, this study, using the example of the so-called anti-Russian sanctions, shows that in the global economy, countries are rapidly using other alternatives, and...

  • Article
  • Open Access
8 Citations
4,866 Views
18 Pages

CEO Duality: Newspapers and Stock Market Reactions

  • Marco Caiffa,
  • Vincenzo Farina and
  • Lucrezia Fattobene

This study aims to investigate the unsettled issue of the relationship between CEO duality and a firm’s value through the perspective of investors’ reaction to news which mention apical directors with a single role and Board Chair CEOs. W...

  • Article
  • Open Access
15 Citations
7,303 Views
14 Pages

Tourism Well-Being and Transitioning Island Destinations for Sustainable Development

  • Jerome Agrusa,
  • Cathrine Linnes,
  • Joseph Lema,
  • Jihye (Ellie) Min,
  • Tony Henthorne,
  • Holly Itoga and
  • Harold Lee

The unprecedented growth of tourism over the last century has led to increasing concerns over the sustainable development of many popular tourism destinations throughout the globe. High concentrations of tourists and residents, especially in urbanize...

  • Article
  • Open Access
4 Citations
4,364 Views
16 Pages

Prior studies provide evidence that both corporate governance and corporate investment efficiency affect corporate disclosure practice. In this paper, we examine their joint effect on disclosure. In particular, we examine whether corporate governance...

  • Article
  • Open Access
15 Citations
5,860 Views
13 Pages

Market Graph Clustering via QUBO and Digital Annealing

  • Seo Woo Hong,
  • Pierre Miasnikof,
  • Roy Kwon and
  • Yuri Lawryshyn

We present a novel technique for cardinality-constrained index-tracking, a common task in the financial industry. Our approach is based on market graph models. We model our reference indices as market graphs and express the index-tracking problem as...

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J. Risk Financial Manag. - ISSN 1911-8074