2021 January - 41 articles
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
By analyzing the case of Athens during the Classical period (508-323 BCE) the main thesis of this paper is that under direct democracy procedures and the related institutional setup, a monetary system without a Central Bank may function relatively we...
We examine the role of employee stock option plans (ESOPs) in mitigating agency problems in New Zealand firms. We find that ESOPs have a significant and positive effect on firm performance relative to their non-ESOP counterparts. This relation appear...
A large amount of literature in the field of social psychology and product pricing discusses the role of reference prices in affecting buyer’s price perception and purchase intention. Reference price denotes a standard against which the consume...
This paper has two main aims. Firstly, we examine whether, given a critical mass of female board members, their presence has a different effect on the firm’s CSR practices according to its family or non-family nature. We then consider whether t...
This study empirically presents evidence of nonlinearity and heterogeneity relation between intellectual capital and risk-taking for the Vietnamese banking system. We used quantile regression methods on a data set of 30 Vietnamese banks from 2007 to...
This paper analyses Foreign Direct Investment (FDI) investment in Ireland and Iceland from other European countries during two periods, i.e., the pre-financial crisis period of 2000–2007 and the financial crisis period of 2008–2010. The a...
This paper reviews the cost-benefit analysis, or “regulatory impact analysis” (RIA), in US bank regulators’ risk-based capital (RBC) rule proposals. We review the principles of cost-benefit analysis and its application by US bank regulators. We provi...
The COVID 19 pandemic has had wide-ranging and severe effects on global economies. Stock markets as usual were the first to react, with drop rates as much as the global financial crises of 2008. This study uses daily data to model the dynamic impact...
Researchers question the impact of governmental venture capitalists (GVC) compared to private venture capitalists (PVC), but we know little about why this difference occurs and if this criticism is justified. We observed a group of GVCs and developed...
This study aims at examining the short-run and long-run dynamic linkages among exchange rates and stock market index in India through a structured cointegration and Granger causality tests. Daily exchange rates of USD, EUR, CNY, JPY, and GBP to INR a...
We exploit data from the China Household Finance Survey to examine the impact of changes in the minimum wage on employment and investment decisions. We are able to non-parametrically identify the average treatment effect on the treated via exogenous...
Several studies have explored the linkage between non-performing loans and major macroeconomic indicators, using a wide variety of methodologies, sometimes with different results. This occurs, we argue, because these relationships are generally deriv...
Country Risk (CR) is a relevant instrument to analyze and understand economic performances and relationships between different countries in the actual economic and political international globalized context. The present work develops indexes for the...
This issue comprises nine highly downloaded and cited articles in the Journal of Risk and Financial Management [...]
Considering the recent debates regarding Brexit and the potential negative effects of immigrants on Italian labor market, the main aim of this paper is to assess the impact of immigrants from Italy on the labor market of this country using econometri...
Investment decisions in the field of sustainable development should be taken based on an economic calculation, taking into account the analysis of a diverse economic environment. The economic calculus of an enterprise is treated as a kind of way of t...
The objective of this study is to identify the current state of, and the prospects for, information and communication technologies (ICT) dissemination in rural areas in Ukraine in juxtaposition with other post-transition countries. The spread of ICT...
This paper demonstrates how the contract theory framework can and should complement standard financial mathematics for analysing Islamic financial securities (IFSs). It is motivated by the perception that most valuations of IFSs are rather simplistic...
This paper presents an evaluation index system of public service quality, which contains 35 indexes from the dimensions of the output and effect. Based on data from 2010 to 2017 in 12 coastal provinces and cities of China, this paper assesses public...
In the Dynamic Conditional Correlation with Mixed Data Sampling (DCC-MIDAS) framework, we scrutinize the correlations between the macro-financial environment and CO
In the last few years, the financing of responsibly operating small and medium-sized enterprises (SMEs) has become the focus of attention of several national and international bodies. Consequently, a number of policies and support programmes have bee...
In this research, we demonstrate that business sustainability can be a model to foster in order to reach real development, as it is shown that business sustainability has both an ethical and economic logic. Even though, from an ethical point of view,...
By using information technology, local governments can develop alternative forms of citizen engagement. Civic crowdfunding campaigns supported by online platforms enable citizens to participate financially in social projects and can be matched with g...
The purpose of this study is to investigate the relationship between working capital and firm profitability for a sample of 719 Polish listed firms over the period of 2007–2016. The scarcity of empirical evidence for emerging economies and the import...
There are various factors that can affect an organization’s ability to overcome a crisis and the uncertainties that arise thereafter. Little is known about the process of organizational resilience and the factors that can help or prevent it. In...
This study investigates the effect of corporate governance reforms protecting minority shareholders on the firm value measured by Tobin’s Q. Using the difference-in-differences estimation and a large international sample from 65 countries for t...
In the existing studies devoted to predicting bankruptcy, the authors of such models only used book measures. Considering the fact that the evolution of corporate measure efficiency (in addition to book measures) brought into existence and exposed th...
Immigration is a controversial topic that draws much debate. From a human sustainability perspective, immigration is disadvantageous for home countries causing brain drains. Ample evidence suggests the developed host countries benefit from immigratio...
The knowledge, attitudes and perceptions of the high school students on Croatia’s European Union (EU) accession event were omitted in numerous public opinion polls conducted since the 2013 accession. Therefore, the paper shows key benefits of C...
We propose a novel multi-period trading model that allows portfolio managers to perform optimal portfolio allocation while incorporating their interpretable investment views. This model’s significant advantage is its intuitive and reactive desi...
This paper conducts an empirical study on the inclusion of uniform European Collective Action Clauses (CACs) in sovereign bond contracts issued from member states of the European Union, introduced as a regulatory result of the European sovereign debt...
