2025 November - 66 articles
South Korea has become one of the most important economies in Asia. The largest Korean multinational firms are affiliated with influential family-owned business groups known as the chaebol. Despite the surging academic popularity of the chaebol, ther...
The COVID-19 pandemic created abnormal credit risk conditions that did not align well with pre-2020 credit scores. Since the pandemic, most organizations have either excluded the period 2020–2021 from their modeling or included it without adjus...
Over the last two decades, financial literacy has emerged as a central determinant of economic wellbeing, social inclusion, and individual empowerment (Tavares et al [...]
This paper examines the long-memory properties of the returns of exchange-traded funds (ETFs) that provide exposure to companies operating in the fields of artificial intelligence (AI) and robotics listed on the US market, along with other assets suc...
As part of the environmental, social, and governance (ESG) ecosystem, this paper evaluates fundamental success factors that influence external auditors and relevant stakeholders to be proactive and efficacious in sustaining corporate governance pract...
The study focuses on the SET50 Index, a benchmark of the fifty largest companies listed on the Stock Exchange of Thailand (SET). Thailand, despite being part of the options-dominated Asia-Pacific region, has a unique market structure where SET50 Inde...
Considered by some authors as blindsiding sustainable finance, tax evasion and avoidance represents a measurement problem. This research aims at measuring corporate tax avoidance as a risk continuum and at correlating this measure of risk with financ...
This paper compares the rulebooks of five main Shariah-compliant equity indices—DJIMI, KLSI, FTSE Shariah, MSCI Islamic, and STOXX Europe Islamic 50—inside one fixed S&P 500 stock list from Q1 2019 to Q4 2023. For each index, we build...
In a context where the measurement of economic value is key for financial decision-making, Economic Value Added (EVA) stands out as a relevant indicator for assessing companies’ financial performance efficiency. This research aimed to determine...
This paper aims to assess the level of financial and tax literacy among the resident population in Portugal, as well as to evaluate their perception of existing public measures in this field. Financial literacy is a key pillar for individual developm...
We examine how capital structure related to firm performance for UK companies in the FTSE All-Share over 2018–2023, explicitly segmenting pre-pandemic (2018–2019), pandemic (2020–2021), and post-pandemic (2022–2023) periods. U...
This study aims to investigate the determinants of labour productivity across European non-financial entities using aggregated data from the Bank for the Accounts of Companies Harmonized (BACH) database. Focusing on six European Union countries (Belg...
Micro, small and medium enterprises (MSMEs) contribute significantly to Indonesia’s economic growth. In an increasingly digitalised era, MSMEs face challenges and opportunities that affect their performance. Technology adoption will have an imp...
This paper explores how geopolitical risk impacts small and medium-sized enterprises (SMEs), focusing on the COVID-19 pandemic and the Russia–Ukraine war. Using daily return data from the ECPI Italy SME Equity and Shenzhen SME Composite indexes...
This study investigates the relationship between cryptocurrency adoption rates (CARs) and the development of central bank digital currencies (CBDCs) using a global panel of 109 countries from 2020 to 2024. The analysis employs pooled OLS, fixed effec...
This paper examines the impact of country risk on banking sector stability, employing the CAMELS framework, within 13 Middle Eastern and North African (MENA) countries for 1984–2024. The analysis exploits the impact of political, economic, and...
The integration of Bitcoin into corporate treasuries constitutes a critical strategic choice, motivated by its capacity to bolster liquidity and serve as an inflation hedge, while simultaneously being encumbered by pronounced financial volatility and...
The corporate finance field is inherently engaging, with a strong focus on factors influencing various performance indicators. This study analyzes 66 companies from the Information and Technology sector, all part of the Standard and Poor’s 500...
This paper develops a dynamic asset allocation strategy for defined contribution pension funds using a stochastic control framework under the Heston stochastic volatility model. By solving the associated Hamilton–Jacobi–Bellman partial di...
This study uses a dataset of conventional banks from 2010 to 2022 to investigate the moderating effect of board characteristics (BC) on the relationship between corporate social responsibility (CSR) and bank stability in the MENA region. Bank stabili...
The efficacy of monetary policy depends on an accurate model of bank behavior, yet the existing literature has a significant blind spot: the central role of deposit interest rate setting. This paper argues that the deposit rate is the primary arena w...
Clustering techniques are widely applied to equity markets to uncover sectoral structures and regime shifts, yet most studies rely solely on empirical returns. This paper introduces a novel perspective by using diffusion-based parameters from the Bla...
This study examines whether restatements involving revenues have a different impact on lending decisions than restatements involving expenses and whether restatements that result in increased net income impact lending decisions differently than resta...
This study investigated how banks’ balance sheet fundamentals shape their credit growth using panel co-integration methods and two estimation methods—pooled mean group (PMG) and dynamic fixed effects (DFE). Both approaches yielded consist...
This paper unveils the nexus of the energy finance market and its significant dynamics. The results exhibit potential research areas, dominating research patterns and interlinkages among them. Our sample consists of 927 articles selected from the Sco...
This research examines the time–frequency co-movement patterns among the Johannesburg Stock Exchange (JSE) size-based indices, utilizing daily data covering the period from November 2016 to December 2024. To conduct the analysis, three sophisti...
This study investigates the determinants of household borrowing choices in Thailand, with a focus on the risks associated with formal and informal credit markets. Using cross-sectional survey data from 6949 respondents across 77 provinces collected i...
The traditional role of banks as intermediaries has been transferred to a vast array of businesses, creating many sources of income. The present study examines the impact of income diversification on bank risk. A total of 565 commercial banks from 50...
In credit risk, scoring models based on logistic regression have been developed to optimize the default risk assessment. However, these models require complex feature engineering, and their accuracy worsens as the arrears progresses. This study propo...
In this study, I used regression analysis to examine the relation between stock return dispersion from the market returns and market portfolio returns as a measure of herding behaviour in opportunistic insider traders from 2014 to 2024 in the USA. Op...
This study examines the intricate relationships between cryptocurrency and various uncertainties related to economic policy and global risk factors. It explores the interactions between cryptocurrency and global risk factors, comparing these with the...
This study investigates the relationship between the Business Confidence Index (BCI) and the volatility of stock returns in South Africa using quantile regression and GARCH (1,1) models across the Financial Services, Industrial, and Resources sectors...
The present study examines the relationship between economic growth and the tax burden that is formed as a result of income taxes. The main goal is to verify whether there is a link between these research variables in the long run and if this is conf...
This study examines the relationship between corporate cash holdings and firm performance within the IT industry, which is characterized by intense competition and rapid technological advancements. We propose an integrated framework that combines pri...
Municipalities are facing mounting fiscal pressures that contribute to financial distress, often resulting in reduced service delivery and economic instability. Despite extensive research on this topic, there is neither a framework nor established cr...
We introduce the Reward–VaR curve, a novel framework for evaluating risk-adjusted investment performance across a range of investor risk preferences. When returns are normally distributed, the Reward–VaR curve yields the same asset rankin...
This study aims to develop an entrepreneurial literacy model for mompreneurs that contributes to Sustainable Development Goal (SDG) 1 (poverty reduction) and Sustainable Development Goal (SDG) 8 (decent work and economic growth), focusing on how entr...
This systematic review examines how sustainability is utilized by government institutions in reporting and tracking social and environmental impacts. As a result of the Prisma 2020 guidelines, we examined 84 papers published between 2009 and December...
The systematic failure of standard Value-at-Risk (VaR) models for the Tokyo Commodity Exchange (TOCOM) rubber futures contract poses significant challenges for risk management. This study addresses the issue by examining the market’s split trading se...
Against China’s innovation-driven strategy, this study explores the impact of R&D investment on firm innovation performance and the mediating role of the wage gap between high- and low-skilled labor (HLWG) using data from Chinese A-share no...
Tax practitioners (such as accountants and bookkeepers) are important enablers of tax compliance. Taxpayers, particularly small businesses, look to tax practitioners for expert advice because of increasingly complex tax legislation. This study’...
Modern credit scoring systems must operate under increasingly complex borrower data conditions, characterized by structural heterogeneity and regulatory demands for transparency. This study proposes a modular modeling framework that addresses both in...
As global emphasis on environmental, social, and governance practices intensifies, sustainability reporting emerges as a critical tool for corporate transparency and accountability. The study aims to assess the impact of sustainability reporting on t...
This study investigates the internal governance mechanisms of sustainability and their influence on corporate environmental performance (CEP) from 2014 to 2021 in Saudi Arabia. The analysis centers on three primary mechanisms: the presence of a susta...
In this study, we incorporate heterogeneity in technology into a micro-founded monetary search framework to explain the recent trend in observed money demand, assuming technological heterogeneity so as to formalize the rise in high-tech innovations i...
Large-scale transitions to eco-friendly vehicle fleets present complex capital budgeting challenges, requiring the integration of extensive operational data with financial modeling while balancing economic profitability and environmental sustainabili...
Rising financial fraud impacts industries, economies, and consumers, creating a need for advanced technological solutions. Compliance frameworks help detect and prevent illicit activities like money laundering, market manipulation, etc. However, with...
This paper investigates the risk determinants and spatial patterns of tax revenue loss due to illicit tobacco consumption across the 27 EU Member States from 2017 to 2022. Using a panel dataset covering economic, demographic, social, political, and b...
We develop a robust continuous time portfolio optimization framework that incorporates time-varying ESG risk through dynamically evolving drift ambiguity. Building on the equivalence between linear ESG penalties in mean-variance optimization and robu...
This study examines whether CEO risk tolerance influences a firm’s sustainable practices, as measured by Environmental, Social, and Governance (ESG) scores. The analysis uses facial width–height ratio (fWHR) as a proxy for CEO testosteron...
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