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Journal of Risk and Financial Management, Volume 16, Issue 2

2023 February - 83 articles

Cover Story: This article presents a research model that defines how external drivers impact financial performance outcomes, and the role played by strategic practices in reducing the negative impact of such external influences. Applying strategic orientation theory, risk management theory, and CSR theory as the encompassing theoretical rationale, the conceptual framework defines the research idea, and the research model provides the empirically testable model that identifies key variables with valid instrument measures. The results indicate that although external supply chain risk drivers do negatively impact a firm’s financial performance, the influence of these risk events can be mitigated if firms adopt CSR strategic practices in enabling firms to develop resilience from disruption events. View this paper
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Articles (83)

  • Article
  • Open Access
4 Citations
3,693 Views
21 Pages

This study builds upon the venture growth literature and venture legitimation mechanisms and investigates how venture firms in China can acquire legitimacy and necessary resources from state stakeholders for venture growth during the COVID-19 pandemi...

(This article belongs to the Special Issue The Impact of COVID-19 on Economy, Energy, and Environment)
  • Article
  • Open Access
22 Citations
10,368 Views
18 Pages

The purpose of this paper is to describe a study that was designed to determine to what extent subjective and objective measures of financial knowledge moderate the relationship between an investor’s financial risk tolerance and demographic fac...

(This article belongs to the Special Issue Financial Markets, Financial Volatility and Beyond, 2nd Edition)
  • Article
  • Open Access
76 Citations
17,862 Views
16 Pages

Demystifying the Effect of the News (Shocks) on Crypto Market Volatility

  • Mukul Bhatnagar,
  • Sanjay Taneja and
  • Ramona Rupeika-Apoga

The cryptocurrency market has enormous growth potential. In this study, the aim is to investigate how the news (shocks) affects cryptocurrency market volatility. This is significant because, while cryptocurrencies are gaining popularity among investo...

(This article belongs to the Special Issue The Future of Money: Central Bank Digital Currencies, Cryptocurrencies and Stablecoins)
  • Article
  • Open Access
1 Citations
10,190 Views
19 Pages

The primary focus of this paper is to develop an empirical model to study the relationship between key Financial Performance Indicators and IPO Offer Prices. It seeks to assist Indian IPO investors to make more informed decisions by advancing their k...

(This article belongs to the Section Economics and Finance)
  • Article
  • Open Access
30 Citations
4,362 Views
19 Pages

The primary goal of this study was to investigate the effects of changes in corporate governance elements on a company’s valuable resources (such as intellectual capital and its components). Previous studies have examined the impacts of some corporat...

(This article belongs to the Section Business and Entrepreneurship)
  • Article
  • Open Access
7 Citations
9,376 Views
12 Pages

The AGP Model for Risk Management in Agile I.T. Projects

  • Sanjeet Singh,
  • Geetika Madaan,
  • Amrinder Singh,
  • Kiran Sood and ,
  • Simon Grima and
  • Ramona Rupeika-Apoga
  • + 1 author+ 0 author

The vast majority of articles on risk in agile-managed projects fail to adequately address the interplay between the agile methodology, the risk management process, and the elements that ultimately determine the success or failure of the project. Too...

(This article belongs to the Section Financial Technology and Innovation)
  • Article
  • Open Access
9 Citations
5,401 Views
13 Pages

This study examines how engagement in financial management activities influences well-being using nationally representative data (N = approximately 30,000) from the U.S. Bureau of Labor Statistics’ American Time Use Survey and its associated We...

(This article belongs to the Section Applied Economics and Finance)
  • Article
  • Open Access
2 Citations
2,664 Views
17 Pages

The review of modern methodological approaches to assessing the sustainable development of an industrial enterprise revealed the absence of generally accepted integral tools and the connection sustainable development trends with financial flows. To f...

(This article belongs to the Section Financial Technology and Innovation)
  • Article
  • Open Access
7 Citations
4,053 Views
23 Pages

Due to inadequate studies, our knowledge of the effect of female directors and national culture on the corporate response to climate change is still limited. To address this gap, the purpose of this paper is to investigate the dynamic relationship be...

(This article belongs to the Special Issue Corporate Governance and Carbon Accounting)
  • Article
  • Open Access
2 Citations
4,711 Views
34 Pages

Performance of US and European Exchange Traded Funds: A Base Point-Slack-Based Measure Approach

  • Carla O. Henriques,
  • Maria E. Neves,
  • Jeremias A. Conceição and
  • Elisabete S. Vieira

This study evaluates the performance of United States (US) and European Exchange Traded Funds (ETFs) using the non-oriented version of the base point-slack-based measure (BP-SBM) Data Envelopment Analysis (DEA) model, which allows for handling negati...

(This article belongs to the Section Financial Technology and Innovation)
  • Article
  • Open Access
5 Citations
6,114 Views
14 Pages

Herding Trend in Working Capital Management Practices: Evidence from the Non-Financial Sector of Pakistan

  • Umar Farooq,
  • Mosab I. Tabash,
  • Ahmad A. Al-Naimi,
  • Linda Nalini Daniel and
  • Mohammad Ahmad Al-Omari

Working capital management requires careful attention from corporate managers because it plays an important role in corporate stability. The social belongingness of managers induced them to learn from their society, colleagues, and overall industrial...

  • Article
  • Open Access
4 Citations
3,533 Views
16 Pages

This study explores the dependency structure of S&P 500 survivor stocks. Using a hand-collected sample of stocks that survived in the S&P 500 since March 1957, we employ rescaled/range analysis to investigate survivors. First, we find nonline...

(This article belongs to the Special Issue Theoretical, Empirical, and Experimental Aspects of Market Microstructure II)
  • Article
  • Open Access
5,591 Views
38 Pages

We use the 2018 survey data from the Household, Income, and Labour Dynamic (HILDA) in Australia and the Household Economic Survey (HES) in New Zealand to investigate the retirement income sufficiency in Australia and New Zealand. Our baseline results...

(This article belongs to the Special Issue Managing Sustainability Risk)
  • Article
  • Open Access
7 Citations
4,919 Views
11 Pages

Capabilities and Reputation Risks Towards Firm Performance

  • Noraznira Abd Razak,
  • Najihah Hanisah Marmaya,
  • Mohd Zailani Othman,
  • Idris Osman and ,
  • Suhailah Kassim,
  • Fatin Aqilah Maskuri and
  • Nik Kutina Mat Tahir
  • + 2 authors+ 0 author

The effects of firm-specific resources on firm performance has been a quest of many and widely studied worldwide. In today’s business environment, arguments suggesting the relative importance of firm-specific resources in explaining firm perfor...

(This article belongs to the Special Issue Risk and Financial Consequences)
  • Article
  • Open Access
4 Citations
5,341 Views
11 Pages

Although the interdependence between the core competencies of the collaborating partners and synergy as an important consideration when companies decide to go for a merger is theoretically understood and evident, further empirical research is needed...

(This article belongs to the Collection Business Performance)
  • Article
  • Open Access
146 Citations
73,574 Views
12 Pages

The Impact of Fintech and Digital Financial Services on Financial Inclusion in India

  • Mohammad Asif,
  • Mohd Naved Khan,
  • Sadhana Tiwari,
  • Showkat K. Wani and
  • Firoz Alam

India’s financial inclusion has significantly improved during the last several years. In recent years, there has been a rise in the number of Indians who have bank accounts, with this figure believed to be close to 80% at present. Fintech busin...

(This article belongs to the Special Issue FinTech, Islamic Banking & Finance, Corporate Governance & Sustainability)
  • Article
  • Open Access
14 Citations
13,356 Views
19 Pages

The purpose of this article is to analyze the most popular maturity models in order to identify their strengths and weaknesses. Research conducted by international project management communities such as Software Engineering Institute (SEI), Project M...

(This article belongs to the Section Business and Entrepreneurship)
  • Article
  • Open Access
5 Citations
4,027 Views
21 Pages

Based on the impact of industry extreme return on the attention of institutional investors, taking Chinese A-share listed companies from 2011 to 2020 as a sample, this paper empirically tests the relationship between institutional investors’ di...

  • Article
  • Open Access
3 Citations
3,903 Views
22 Pages

The Effect of Social Capital on Auditor’s Performance

  • Maryamalsadat Mousavi Azghandi,
  • Sahar Jabbari,
  • Hossien Rezaei Ranjbar and
  • Ahmed Al-janabi

This paper investigates the relationship between social capital and auditor’s performance in Iranian listed firms. The sample included 128 firms on the Tehran Stock Exchange from 2014 to 2020. The research method was descriptive-correlational,...

(This article belongs to the Special Issue Accounting and Auditing during the World Crisis)
  • Article
  • Open Access
6 Citations
4,802 Views
17 Pages

The rapidly increasing use of building information modeling (BIM) technologies in the world is highly relevant to the search for new approaches and managerial models for enterprises in the construction sphere. As shown in the study of several develop...

(This article belongs to the Special Issue Firms’ Behavior, Productivity and Economics of Innovation)
  • Article
  • Open Access
4 Citations
9,816 Views
31 Pages

This paper studies price discovery in Nikkei 225 markets through the nonlinear smooth transition price adjustments between spot and future prices and across all three futures markets. We test for smooth transition nonlinearity and employ an exponenti...

(This article belongs to the Special Issue Financial Econometrics and Models)
  • Article
  • Open Access
6 Citations
4,271 Views
17 Pages

A Statistical Analysis of Companies’ Financing Strategies in Portugal during the COVID-19 Pandemic

  • Fernando Tavares,
  • Eulália Santos,
  • Mafalda Venâncio de Vasconcelos and
  • Vasco Capela Tavares

This study aims to establish which sources of financing were used and the relevance of different banking products for Portuguese companies during the pandemic. We also intend to understand the determinants of companies’ financing options and wh...

  • Article
  • Open Access
2 Citations
4,526 Views
24 Pages

Selecting stock portfolios and assessing their relative volatility risk compared to the market as a whole, market indices, or other portfolios is of great importance to professional fund managers and individual investors alike. Our research uses the...

(This article belongs to the Special Issue Macroeconomic Modelling)
  • Article
  • Open Access
4 Citations
3,044 Views
12 Pages

The COVID-19 pandemic has had a devastating impact on the world. The surge in the number of daily new cases and deaths around the world and in South Africa, in particular, has increased fear, psychological breakdown, and uncertainty among the populat...

  • Article
  • Open Access
8 Citations
10,368 Views
19 Pages

Value and contrarian investment strategies are two basic approaches which are widely used by investors worldwide. Both value and contrarian investment strategies are assumed to pick the same stocks even though the approach to picking the stocks is di...

(This article belongs to the Section Applied Economics and Finance)
  • Article
  • Open Access
2 Citations
6,824 Views
18 Pages

On the Measurement of Hedging Effectiveness for Long-Term Investment Guarantees

  • Maciej Augustyniak,
  • Alexandru Badescu and
  • Mathieu Boudreault

Although the finance literature has devoted a lot of research into the development of advanced models for improving the pricing and hedging performance, there has been much less emphasis on approaches to measure dynamic hedging effectiveness. This ar...

(This article belongs to the Section Risk)
  • Article
  • Open Access
16 Citations
5,897 Views
19 Pages

Dynamic Conditional Correlation and Volatility Spillover between Conventional and Islamic Stock Markets: Evidence from Developed and Emerging Countries

  • Mohammad Sahabuddin,
  • Md. Aminul Islam,
  • Mosab I. Tabash,
  • Md. Kausar Alam and ,
  • Linda Nalini Daniel and
  • Imad Ibraheem Mostafa
  • + 1 author+ 0 author

This study aims to investigate the dynamic conditional correlation and volatility spillover between the conventional and Islamic stock markets in developed and emerging countries in order to develop better portfolio and asset allocation strategies. W...

(This article belongs to the Special Issue Stability of Financial Markets and Sustainability Post-COVID-19)
  • Article
  • Open Access
2 Citations
3,600 Views
36 Pages

Despite the voluminous literature on the effect of aid-for-trade (AfT) flows on recipient countries’ trade performance, little is known about the relationship between AfT flows and other capital flows to developing countries. This paper contrib...

(This article belongs to the Special Issue International Trade, Finance, and Development)
  • Article
  • Open Access
58 Citations
10,003 Views
11 Pages

Impact of Environmental, Social, and Governance Activities on the Financial Performance of Indian Health Care Sector Firms: Using Competition as a Moderator

  • Bhakti Agarwal,
  • Rahul Singh Gautam,
  • Pooja Jain,
  • Shailesh Rastogi and ,
  • Venkata Mrudula Bhimavarapu and
  • Saumya Singh
  • + 1 author+ 0 author

Environmental, social, and governance (ESG) activities have become essential and viable activities of corporations because of the increase in concern for environmental, social, and governance issues. The motive of this research is to measure the effe...

(This article belongs to the Special Issue ESG-Investing and ESG-Finance)
  • Article
  • Open Access
50 Citations
18,046 Views
17 Pages

Emerging Research Trends in Green Finance: A Bibliometric Overview

  • Sagarika Mohanty,
  • Sudhansu Sekhar Nanda,
  • Tushar Soubhari,
  • Vishnu N S and ,
  • Sthitipragyan Biswal and
  • Shalini Patnaik
  • + 1 author+ 0 author

Green finance is significant since it is the first organized effort by the financial industry to link financial performance with a positive environmental impact. Green finance products are being developed appropriately to achieve sustainability. The...

(This article belongs to the Section Energy and Environment: Economics, Finance and Policy)
  • Article
  • Open Access
7 Citations
5,871 Views
13 Pages

Impact of Financial Distress on the Dividend Policy of Banks in India

  • Anureet Virk Sidhu,
  • Pooja Jain,
  • Satyendra Pratap Singh,
  • Jagjeevan Kanoujiya and ,
  • Aashi Rawal,
  • Shailesh Rastogi and
  • Venkata Mrudula Bhimavarapu
  • + 2 authors+ 0 author

The present study primarily examines the impact of financial distress (FD) on the dividend policy of 33 banks working in the Indian economy from 2010 to 2019. In addition, we further explore the association between financial distress and dividend pol...

(This article belongs to the Special Issue Financial Markets, Financial Volatility and Beyond, 2nd Edition)
  • Article
  • Open Access
5 Citations
4,293 Views
26 Pages

Unbeknownst to the public, most investment funds actually underperform the broader market. Yet, millions of individual investors fare even worse, barely treading water. Algorithmic trading now accounts for over 80% of all trades and is the domain of...

(This article belongs to the Section Mathematics and Finance)
  • Article
  • Open Access
1 Citations
2,904 Views
19 Pages

A key problem of construction firms’ management and economy is organization of effective participation in public tenders. The direct executor, who determines the price of the contract, may be interested in obtaining as many contracts as possibl...

(This article belongs to the Special Issue Firms’ Behavior, Productivity and Economics of Innovation)
  • Article
  • Open Access
1 Citations
3,909 Views
16 Pages

The COVID-19 pandemic had unprecedented consequences on businesses and, in particular, small and medium enterprises (SMEs). The aim of this paper is to empirically study the impact of the COVID-19 sanitary crisis on Swiss SMEs two years after the ons...

(This article belongs to the Section Business and Entrepreneurship)
  • Article
  • Open Access
11 Citations
5,596 Views
17 Pages

This paper applies the multivariate GARCH models to investigate the role of Bitcoin as a hedge and safe haven for ASEAN+6 stock markets compared to gold. We used daily data for the dates 2 January 2017–20 January 2023, covering the recent COVID...

(This article belongs to the Special Issue The Future of Money: Central Bank Digital Currencies, Cryptocurrencies and Stablecoins)
  • Article
  • Open Access
14 Citations
11,427 Views
21 Pages

The purpose of this paper is twofold. Firstly, we aim to investigate the relationships among environmental uncertainty, broad-scope and timely management accounting information usefulness, and (traditional and contemporary) management accounting prac...

(This article belongs to the Special Issue Financial and Sustainability Reporting in a Digital Era)
  • Article
  • Open Access
31 Citations
10,024 Views
13 Pages

Environmental, regulatory, and economic exogenous disruptions force companies within the maritime shipping industry to become more sustainable. Financing for implementing the necessary changes is particularly challenging for these companies, consider...

(This article belongs to the Special Issue Climate Risk and Sustainability: The Impact on Insurance, Investments, Financing, the Banking Industry, Business and Social Models)
  • Article
  • Open Access
2 Citations
2,887 Views
23 Pages

The conventional functional form of the Constant-Elasticity-of-Substitution (CES) production function is a general production function nesting a number of other forms of production functions. Examples of such functions include Leontief, Cobb–Do...

  • Article
  • Open Access
14 Citations
7,596 Views
15 Pages

This study aims to investigate the performance and behavior of fiat- and gold-backed cryptocurrencies to support stakeholders through the preparation of a portfolio from 1 January 2021 to 30 June 2022. Moreover, while searching for a hedge or a diver...

(This article belongs to the Special Issue European Financial Market Efficiency: Investors' Behaviour, Efficient Market Hypothesis and Behavioural Finance)
  • Article
  • Open Access
11 Citations
5,331 Views
19 Pages

Consumer Segmentation of Green Financial Products Based on Sociodemographic Characteristics

  • Sándor Gáspár,
  • László Pataki,
  • Ákos Barta,
  • Gergő Thalmeiner and
  • Zoltán Zéman

Many green financial products currently have a low financial return level; even so, these products are spreading dynamically. In our study, we explored Hungarian green financial investment preferences and separated consumers of green financial produc...

(This article belongs to the Special Issue Green Marketing, Green Finance and Sustainable Development)
  • Article
  • Open Access
17 Citations
6,241 Views
16 Pages

Risk management is an ongoing process that includes several stages of mapping and identification, analysis, and evaluation, planning, and implementation to reduce risks and ensure ongoing control. Risk management along the supply chains has become mo...

(This article belongs to the Section Financial Technology and Innovation)
  • Article
  • Open Access
15 Citations
6,365 Views
7 Pages

Though consumers with vulnerabilities, such as visually impaired or blind and partially sighted people (BPSP), face several marketplace problems and challenges, existing literature provides limited guidance. The present study aims to examine the issu...

(This article belongs to the Special Issue Financial Development and Economic Growth)
  • Article
  • Open Access
1 Citations
3,945 Views
20 Pages

This paper investigates an optimal reinsurance policy using a risk model with dependent claim and insurance premium by assuming that the insurance premium is random. Their dependence structure is modeled using Sarmanov’s bivariate exponential d...

  • Article
  • Open Access
45 Citations
15,313 Views
17 Pages

Digital Technologies for Firms’ Competitive Advantage and Improved Supply Chain Performance

  • M M Hussain Shahadat,
  • Abu Hena Mohammed Yeaseen Chowdhury,
  • Robert Jeyakumar Nathan and
  • Maria Fekete-Farkas

Supply chain operation is more competitive in a dynamic business environment. Developing supply chain capability is, hence, important for gaining a competitive advantage and overall improved supply chain performance. The purpose of this study is to e...

(This article belongs to the Collection Business Performance)
  • Article
  • Open Access
8 Citations
5,511 Views
28 Pages

The Relationship between Intellectual Capital and Audit Fees

  • Mahmoud Lari Dashtbayaz,
  • Amjed Hameed Mezher,
  • Khalid Haitham Khalid Albadr and
  • Bashaer Khudhair Abbas Alkafaji

The present study investigates whether intellectual capital (IC) is related to audit fees and financial statement restatements in companies listed on the Iraq Stock Exchange (ISE). The present study is a pioneer investigation of this topic in emergin...

(This article belongs to the Special Issue Accounting and Auditing during the World Crisis)
  • Article
  • Open Access
13 Citations
4,361 Views
14 Pages

Over the past three decades, economic transformations in Eastern Europe and Russia have substantially affected the use of management technologies. More and more businesses prioritize sustaining growth and development in the long run instead of maximi...

(This article belongs to the Section Financial Markets)
  • Article
  • Open Access
113 Citations
10,065 Views
14 Pages

Utilizing natural resources wisely, reducing pollution, and taking other environmental factors into account are now critical to the prospects for long-term economic growth and, by extension, sustainable development. We investigate the impact of total...

(This article belongs to the Special Issue Interdisciplinary Empirical Research in Financial Econometrics)
  • Article
  • Open Access
13 Citations
11,739 Views
12 Pages

Corporate Social Responsibility Funding and Its Impact on India’s Sustainable Development: Using the Poverty Score as a Moderator

  • Rahul Singh Gautam,
  • Venkata Mrudula Bhimavarapu,
  • Shailesh Rastogi,
  • Jyoti Mehndiratta Kappal and ,
  • Hitesh Patole and
  • Aman Pushp
  • + 1 author+ 0 author

This study investigates the impact of corporate social responsibility (CSR) funding in the education sector and the environment and how it affects India’s sustainable development. This study was conducted using secondary data and the data were...

(This article belongs to the Special Issue Corporate Governance in Global Shocks and Risk Management (Volume II))
  • Article
  • Open Access
5 Citations
3,973 Views
18 Pages

In the early 1990s, Anthony Fielding coined the term ‘escalator region’ to describe how London and the South East attracted those with greater human capital by offering them superior career prospects and enhanced returns in the housing ma...

(This article belongs to the Special Issue Shocks, Public Policies and Housing Markets)

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J. Risk Financ. Manag. - ISSN 1911-8074