2021 February - 48 articles
This paper explores mood anomalies, specifically the seasonal affective disorder (SAD) effect on the Zagreb Stock Exchange (ZSE). SAD is defined as a syndrome of depressive episodes in human behavior due to the changing of the season. Thus, the motiv...
In the present paper, we investigate the Merton portfolio management problem in the context of non-exponential discounting, a context that gives rise to time-inconsistency of the decision-maker. We consider equilibrium policies within the class of op...
Considering the importance of political economy in implementing Disaster Risk Reduction (DRR), this research investigates the significance of political economy in the distribution of DRR funding in Bangladesh. The study analysed data from self-report...
Current research about crowdsourcing covers industries like food systems or logistics, leaving out the possible impact of crowdsourcing on sustainable retail. The debate about the sustainable impact of different industries is ongoing, especially disc...
Global energy production has been on the rise for many years, and reliance on traditional sources of energy remains strong. The extraction and production of energy can serve as an important avenue of growth, particularly for developing economies. To...
This research paper investigates the impact of natural resources volatility on economic growth. The paper focused on three resource-rich economies, namely, UAE, Saudi Arabia, and Oman. Using data from 1970 to 2016 and employing the autoregressive dis...
Basel III regulation intent is to increase the resiliency of banks through effective risk management practices that can reduce significant idiosyncratic operational losses. A systemic risk event that leads to significant losses in a bank holding comp...
From the early 1970s to the Global Financial Crisis of 2007–09, U.S. crude oil production followed a declining trend. After the Global Financial Crisis, U.S. crude oil production increased rapidly. This paper addresses the important question “what ec...
Financial derivatives have been increasingly used by firms to hedge against financial risks. However, it is still not clear what factors at the firm level lead to firms’ derivative use and whether derivative use can generate performance improvement,...
This paper empirically evidences the role played by board characteristics (skills, diversity, structure, independence) in supporting risk management disclosure and shaping the financial performance of European companies operating in the financial ser...
In the European Union, the concern for sustainability has been legitimized by its politically and ecologically motivated discourse disseminated through recent policies of the European Commission and the local as well as international media. In the ar...
Methodological approaches to investing in companies and reducing the negative impact of risks that are formed at the macro and micro levels are considered in the article. The algorithm for expressing investment risks through related risks and conduct...
This paper proposes the sample path generation method for the stochastic volatility version of the CGMY process. We present the Monte-Carlo method for European and American option pricing with the sample path generation and calibrate model parameters...
The objective of this contribution is to predict the development of the Czech Republic’s (CR) exports to the PRC (People’s Republic of China) using ANN (artificial neural networks). To meet the objective, two research questions are formulated. The qu...
In numerous Central and Eastern European (CEE) countries, the global financial crisis as well as the unpegging of the foreign exchange rate of the Swiss franc (CHF) against the euro amplified the repayment troubles of households with the outstanding...
One of the controversies of diversification is that it may not be beneficial to banks, as it tends to increase systemic risk. Recent theoretical and empirical work have addressed this problem. We argue, from a theoretical perspective, that this contr...
This study analyzes the relationships and dynamics between material production, foreign direct investment (FDI), economic activity, carbon productivity, the stock market, and green tech, both in a global and European context, using panel vector autor...
Acquisition-based dynamic capabilities have become well established as a new imperative for organizing mergers and acquisitions (M&A) processes. However, understanding the full benefits and possible limits of real options applications to measure...
The sudden and abrupt rise of COVID-19 became a challenge for the world economy. In this paper, we investigate the changes in a trend of mutual trade between the EU-15 countries and China during the demanding times of the COVID-19 crisis. We use mont...
In this study, we investigate the relationship between environmental, social, and governance (ESG) disclosures and stock price crash risk. A stock price crash is a dreadful event for market participants. Thus, exploring stock price crash determinants...
This study examines whether financial analysts consider or incorporate the environmental, social and governance disclosures (thereafter ESG) in their recommendations. We then test whether royal family directors affect this relation. Using a dataset f...
Unprecedented opportunities have been brought by advancements in machine learning in the prediction of the economic success of movies. The analysis of movie title keywords is one promising but rarely investigated direction of study. To address this g...
The aim of this paper is to identify the risks that need to be addressed when holding fine art, determine which are perceived as being the most important, and whether the risk perception is influenced by demographic variables such as age, educational...
The study provides solutions for the scientific task related to the improvement of theoretical and development of methodological and applied principles, and the identification and evaluation of risks and threats as factors of anti-crisis management o...
Although the European business environment induces important premises and assures conditions in determining economic growth and social well-being, the determinant and existent connections between the evolution of small and medium-sized enterprises (S...
The inventory carrying cost has been assumed uniform for all products in an organization or a warehouse. This assumption is not valid for a diversified range of items in an organization or warehouse. This paper tested this hypothesis of variations in...
The purpose of this paper is to investigate the causality between good public governance captured through six World Bank governance indicators and unemployment rate (unemployment as % of the total labour force) as a clear indicator of labour market p...
The business success of small- and medium-sized enterprises (SMEs) increasingly relies on the adoption of various technological innovations. For today’s unpredictable business operations, business intelligence systems (BISs) represent one of the most...
The paper examines tax progressivity and income inequality using Census Bureau Current Population Survey (CPS) personal income data. The Kakwani index is used to derive tax progressivity for All, Male, Female, White and African American personal wage...
In this paper, we evaluate American-style, path-dependent derivatives with an artificial intelligence technique. Specifically, we use swarm intelligence to find the optimal exercise boundary for an American-style derivative. Swarm intelligence is par...
The rapid growth of negative consequences from climate changes provokes divergent effects in all economic sectors. The experts proved that a core catalyst which bootstrapped the climate changes was greenhouse gas emission. This has led to a range of...
Beyond financial stability as the European Banking Union’s primary objective, the European capital market integration provides an impetus for deepening bank integration and greater financial market efficiency. This article proposes an empirical frame...
The yield curve is an important tool to assess the economic progress of a country. In this study, we examine the strength of the relationship between term spread and economic activity, and between the components of the yield curve and economic activi...
Countries trying to attract foreign direct investment often use various tools to influence the foreign investor’s allocation decision including public subsidies in the form of investment incentives. However, the effects associated with providing thes...
Equity crowdfunding (ECF) is becoming a convenient alternative instrument for investing in entrepreneurs’ projects in many countries. The purpose of this study was to investigate the factors that affect the investor’s intentions toward EC...
External shocks, like the climate catastrophe or the COVID-19 pandemic, as well as intrinsic fallacies like the securitization of bad debt leading up to the financial crisis in 2008, point to the need for updating our monetary and financial systems....
In this paper, we present a study on Reinforcement Learning optimization models for automatic trading, in which we focus on the effects of varying the observation time. Our Reinforcement Learning agents feature a Convolutional Neural Network (CNN) to...
In this paper, we extend the parametric approach of VaR estimation that is based upon the application of two transforms, one for handling skewness and other for kurtosis. These transformations restore normality to data when applied in succession. The...
This paper aims at investigating whether and how the intensity of trade between a pair of countries changes when they experience improvements in their infrastructural systems. We carry out our analysis considering countries participating in the Belt...
As a dynamic way to raise funds for professional and private projects in recent years, crowdfunding has made tremendous progress, especially through online platforms. However, research on this subject is still young, leaving room for different perspe...
In Canada, financial advisors and dealers are required by provincial securities commissions and self-regulatory organizations—charged with direct regulation over investment dealers and mutual fund dealers—to respectively collect and maint...
Using individual level transaction data and a revised difference-in-differences method with nonparametric smoothing, we study the effect of COVID-19 on house prices. The analyses are performed on the areas of Houston, Santa Clara, Honolulu, Irvine, a...
Climate change, green consumers, energy security, fossil fuel divestment, and technological innovation are powerful forces shaping an increased interest towards investing in companies that specialize in clean energy. Well informed investors need reli...
Corporate finance deals with the financing and investment decisions set by the corporations’ management in order to maximize the value of the shareholders’ wealth [...]
Peer review is the driving force of journal development, and reviewers are gatekeepers who ensure that Journal of Risk and Financial Management maintains its standards for the high quality of its published papers [...]
Human resources are vitally important to banking. The mission statements of 50 banks with the biggest market value are analyzed qualitatively and quantitatively for subsequent judgments of consideration of employees among top strategic priorities of...
In this paper, we shall compare the average volatility that characterises the main stablecoin design types with a view to answering the question of whether all stablecoin designs accomplish the goal of minimising their price fluctuations to the same...
This paper looks at arrears among US households between 1995 and 2013. It uses household data from the Survey of Consumer Finances (SCF) where arrears occur when a household reports it “sometimes got behind or missed a payment”. The key c...
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