2025 January - 43 articles
We are privileged to present this Special Issue of the Journal of Risk and Financial Management (JRFM), focused on the intersection of mathematics and finance [...]
This paper challenges the prevailing view that intra-industry information transfers are primarily driven by public information. Contrary to conventional wisdom, I find that investors in late-announcing firms impound more private information after ear...
The region of the Arab Gulf is marching ahead very fast toward digitalization in ways prompted by initiatives, such as Saudi Vision 2030 and the UAE’s strategy for Smart Government. Thus, both underscore the boundless movement toward the inclus...
This study investigates the impact of corporate governance characteristics on bank financial performance in Gulf Cooperation Council countries. The board characteristics include board size, board independence, board gender diversity, and CEO duality...
This paper examines Bitcoin’s viability as money through the lens of its risk profile, with a particular focus on its store of value function. We employ a suite of wavelet techniques, including Wavelet Transform (WT), Wavelet Transform Coherenc...
Decentralized Finance (DeFi) is a recent advancement of the cryptocurrency ecosystem, giving plenty of opportunities for financial inclusion, innovation, and growth domains by providing services such as lending, borrowing, and trading without traditi...
Africa is vulnerable to a perfect storm which comprises a burgeoning youthful population, insufficient infrastructure, benign donor neglect and more malign foreign interference, much of which can be traced to decades of weak economic performance. Afr...
This research investigates the relationship between Basel capital regulations, bank risk, and bank efficiency in the context of Pakistani and Indian commercial banks. This study examines the period from 2009 to 2022 and specifically analyses the impa...
This research aimed to examine firm performance and its determinants in the textile and textile product (TPT) industry of Indonesia before and after the COVID-19 pandemic. The analysis used data from the manufacturing survey conducted by Indonesia&rs...
Expected Shortfall (ES) is a risk measure that is acquiring an increasingly relevant role in financial risk management. In contrast to Value-at-Risk (VaR), ES considers the severity of the potential losses and reflects the benefits of diversification...
This study examines the intraday dynamics of liquidity and trading activity on the Egyptian Exchange (EGX) to assess its market quality. Using reconstructed five-minute limit order book data, this study measures liquidity dimensions and explores anom...
This study investigates the stability of trend management strategies under stochastic chaos conditions, with a focus on speculative trading in the Forex market. The primary aim is to evaluate the feasibility and robustness of these strategies for ass...
The purpose of this study is to investigate the impact of corporate governance on ESG performance in large publicly listed firms in Indonesia from 2016 to 2023. The study adopts both stakeholder-agency theory and resource dependency theory to explore...
Predicting future price movements has always been one of the major topics in financial research, and there is no better method to predict the future prices of an asset than using its derivatives. In this paper, we propose a model-free lattice model t...
Since the effectiveness of hospital management is influenced by financial management, healthcare professionals’ financial literacy has drawn the attention of researchers and policymakers. Previous research on medical students and healthcare pro...
This study investigated the individuals’ perspectives towards participating in retirement planning in the mining industry in South Africa. The study employed a quantitative research approach. The study sampled 172 mineworkers from the selected...
This study examines the moderating role of female audit committee chairs on the relationship between audit quality (measured by audit fees) and corporate tax avoidance. The analysis is based on 165 UK firms between 2011 and 2021 using static panel da...
The identification and prediction of financial bankruptcy has gained relevance due to its impact on economic and financial stability. This study performs a systematic review of artificial intelligence (AI) models used in bankruptcy prediction, evalua...
Using a structural VAR model, this paper investigates how oil price shocks and US uncertainty affect emerging market corporate bond returns. The key finding is that the response of emerging market corporate bond returns varies significantly depending...
Existing research critically examines the influence of environmental, social, and governance (ESG) ratings on corporate financial performance (CFP), with outcomes varying considerably. This study employs a dataset of publicly traded firms across 16 c...
This article compares the predictive capabilities of six models, namely, linear discriminant analysis (LDA), logistic regression (LR), support vector machine (SVM), XGBoost, random forest (RF), and deep neural network (DNN), to predict the default be...
Driven by positive accounting, agency, and political and economic theories, this study examines the relationship between research and development (R&D) intensity and earnings management for listed pharmaceutical companies in the Amman Stock Excha...
In this study, we identified firms receiving COVID-19-related audit report disclosures through critical audit matter (CAM) mentions of COVID-19 in their audit reports. Through OLS regressions, we then investigated the fundamental accounting and audit...
Stablecoins are crypto assets designed to maintain stable value by bridging fiat currencies and volatile crypto assets. Our study extends previous research by analyzing the instability and co-movement of major stablecoins (USDT, USDC, DAI, and TUSD)...
This study explores the resilience of the Indian stock market in the face of global shocks in the post-pandemic era, focusing on its volatility dynamics and interconnections with international indices. Through a combination of Vector Autoregression (...
This study investigates the occurrence and persistence of abnormal stock returns surrounding corporate earnings announcements, particularly emphasizing how varying frequencies of financial reporting influence market behavior. Specifically, this resea...
This article examines how CEO compensation structure and CEO gender were associated with corporate social responsibility (CSR) performance in U.S. firms in the period between 2003 and 2013. Building on prior research in economics, finance, accounting...
This study provides empirical evidence on the relative impact of innovations in information content and noise embedded in economic news and social media sentiments on DJIA, S&P 500, NASDAQ, and Russell 2000 index returns. We find that economic ne...
We investigate the common movement and information content of trades at steps away from the best bid and offer (BBO) using Tokyo Stock Exchange data. We create strings, a series of trades at the same or at an inferior price. The number of the strings...
This paper aims to investigate the effects of accessibility to bank branches on the capital structure of small- and medium-sized enterprises (SMEs) by analysing the change in three different leverage measures (total, short-term and long-term leverage...
Legislative regulations have recognized the significance of board independence in enhancing the board’s role and strengthening its autonomy, which are among the key features that mitigate conflicts of interest between management and shareholder...
Since the Great 2008 Recession, central banks around the world have been coping with monetary consequences that highlight structural costs of the economic system and the rise of unconventional monetary measures. This research aims to capture the hete...
We introduce a new identification strategy for uncertainty shocks to explain macroeconomic volatility in financial markets. The Chicago Board Options Exchange Volatility Index (VIX) measures the market expectations of future volatility, but tradition...
This study aims to analyze publications on financial development between 1986 and 2023 using bibliometric analysis methods. The analysis, based on data obtained from the Web of Science database, utilizes bibliometric tools such as keyword analysis, a...
This research demonstrates that penny-wise acumen in costonomics can lead to significant financial gains, transforming costs into entrepreneurial gold for enterprises. The study aims to explore how effective financial management, through the applicat...
The readability (RDB) of annual reports (ARs) plays a crucial role in determining the effectiveness of disclosure of information to interested parties, particularly investors. Given that investors rely on the financial information provided in ARs, th...
In the transportation services industry, the proper assessment of insurance claim count distribution is an important step to determine insurance premiums based on policyholders’ risk profiles. Risk factors are identified through regression anal...
We examine the impact of firm-level regulatory intensity on corporate labor investment efficiency in U.S. firms using a sample from 1995 to 2019. We find that labor investment inefficiency decreases with regulatory intensity, providing evidence that...
This study investigates the effect of audit committee characteristics on the level of tax aggressiveness. Drawing on a sample of 72 French listed firms from the SBF120 index for the period from 2015 to 2022, this study measures the level of tax aggre...
Purpose: This study examines the impact of artificial intelligence disclosure within the US banking sector. It may explore the implications of AI disclosure on issues like financial reporting, transparency, accountability, and ethical considerations...
The significance of internal auditing and its quality cannot be overstated, making it essential to investigate the factors influencing this quality. This study, employing a cross-sectional analysis, aims to assess how the characteristics of external...
This study empirically investigates the relationship between realized higher-order moments and the Fear and Greed Index as a measure of sentiments. We estimate daily realized moments using 5 min return data of the S&P 500 index from 3 January 201...
Inflation targeting, a monetary policy framework, is criticized for its narrow mandate of safeguarding price stability only and neglecting other equally important macroeconomic variables. This negligence, according to the critics, might have had a ro...
