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Journal of Risk and Financial Management, Volume 16, Issue 11

November 2023 - 27 articles

Cover Story: We investigate the effect of gas/oil markets (spot/futures) on herding in stock markets in BRICS over 15 years. The effect of gas/oil markets on herding is minimal (even during the ongoing Russia–Ukraine war), and investors herd selectively during crises. Low volatility in energy markets can trigger herding (consistent with previous research in US, China) in all BRICS. Speculative activities during (non)crises appear to have a minimal impact on herding. However, as the degree of intensity (volatility) in speculative activities increases in oil/gas markets, it causes herding in all countries, except Brazil. It is not the speculation activity per se but the intensity/volatility in speculation activity that causes herding, an expected finding given the uncertainty that speculation causes. View this paper
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Articles (27)

  • Article
  • Open Access
2 Citations
4,396 Views
15 Pages

The Relationship between Promoters’ Holdings, Institutional Holdings, Dividend Payout Ratio and Firm Value: The Firm Age and Size as Moderators

  • Balamuralikrishnan Chakkravarthy,
  • Francis Gnanasekar Irudayasamy,
  • Arul Ramanatha Pillai,
  • Rajesh Elangovan,
  • Natarajan Rengaraju and
  • Satyanarayana Parayitam

The present paper aims to empirically examine the effect of promoters’ holdings and institutional holdings on dividend payout ratio and the firm value. Most importantly, this paper explores the age and size of the firm as the moderators in the...

  • Article
  • Open Access
5 Citations
3,224 Views
13 Pages

Comprehending the motivating factors that drive Digital Business Transformation (DBT) is crucial for cultivating success in DBT initiatives. The objective of the research outlined in this paper was to pinpoint and categorize the factors that inspire...

  • Article
  • Open Access
2 Citations
4,699 Views
18 Pages

This study aims to analyze and generalize the factors influencing credit decision-making in Turkey’s service sector, which has seen substantial growth and increased dynamism post-2000, coinciding with accelerated economic development. The evolv...

  • Article
  • Open Access
3,265 Views
23 Pages

The Effect of Short-Sale Restrictions on Corporate Managers

  • Baixiao Liu,
  • John J. McConnell and
  • Andrew Schrowang

This paper studies the effect of short selling on corporate managers from 2002 through 2010. We examine how the exemption of short-sale uptick tests due to the Regulation SHO pilot program affects managers’ decisions to abandon value-reducing a...

  • Review
  • Open Access
1 Citations
5,568 Views
15 Pages

IFRS has become a global financial reporting standard, with many countries adopting it as their primary framework and others contemplating its adoption. Research on voluntary IFRS adoption sheds light on global convergence progress and its impact on...

  • Article
  • Open Access
2 Citations
4,338 Views
23 Pages

Using a sample of 11,365 unique US firms over the period 1966 to 2021, this study examines the relationship between the age of a firm and its cash holdings. We categorize firms as young, mature, or old based on their age or years of operation. Our re...

  • Article
  • Open Access
13 Citations
4,716 Views
18 Pages

The Effect of COVID-19 on Consumer Goods Sector Performance: The Role of Firm Characteristics

  • Irwansyah,
  • Muhammad Rinaldi,
  • Abdurrahman Maulana Yusuf,
  • Muhammad Harits Zidni Khatib Ramadhani,
  • Sitti Rahma Sudirman and
  • Rizky Yudaruddin

This study investigates the impact of the COVID-19 pandemic on company performance in the consumer goods industry. Additionally, it explores how company characteristics influence the relationship between the pandemic and company performance based on...

  • Article
  • Open Access
2 Citations
4,448 Views
19 Pages

Credit Access and the Firm–Government Connection: Is There Any Link?

  • Trang Thu Phan,
  • Linh Nhat Ta,
  • Trang Tran Minh Pham and
  • Dung Thi Thuy Pham

Access to credit for businesses is an unresolved issue, especially in developing countries and transition economies. There has been a lot of research exploring factors affecting firms’ credit accessibility. Particularly, factors related to borr...

  • Article
  • Open Access
1 Citations
5,913 Views
12 Pages

The National Football League and National Hockey League have instituted several rule changes, equipment improvements and medical protocols in response to the frequency of serious career-ending injuries. These two professional leagues and others have...

  • Article
  • Open Access
6 Citations
12,099 Views
22 Pages

Timor-Leste is a new country still in the process of economic development and does not yet have a capital market for stock and bond investments. These two asset classes have been invested in international capital markets such as the US, the UK, Japan...

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J. Risk Financial Manag. - ISSN 1911-8074