2025 March - 60 articles
As an integral part of financial inclusion, adequate and correct financial knowledge provides individuals with tools to achieve better financial performance throughout their lives. Financial knowledge also contributes to agents exhibiting financial b...
Since the foundational contributions of Katarina Juselius and Søren Johansen on cointegration, along with earlier works by influential scholars like Clive Granger, the field has witnessed significant developments [...]
Building on the Innovation Diffusion Theory, this study proposes and explores the influence of financial literacy on the behavioral intention to use central banks’ digital currency (CBDC) and the moderating role of trust of respondents in the f...
This study examines the impact of corruption on business innovation from a comparative perspective and shows that this relationship is inherently heterogeneous across firms and countries. It addresses two main research questions: (i) Does corruption...
This study explores the determinants of CEO compensation in the banking sector, focusing on cross-listing and loan growth. Using 8800 observations from 45 countries spanning 2004 to 2018, the analysis reveals significant differences in compensation s...
Cryptocurrencies are decentralized digital financial services that do not physically exist in the world of tangible products and goods, and therefore purportedly offer some positive environmental sustainability features. However, since they are based...
This study seeks to quantify the rising financial linkages between mainland China, Australia, Hong Kong, New Zealand, and the six largest Association of Southeast Asian Nations (ASEAN group). Stock market co-movements would be consistent with growing...
Projects are exposed to risks that may hinder their success regarding cost, schedule, and quality/content. After identifying these risks, the project manager must select a subset for mitigation, constrained by a limited risk response budget. The prob...
Artificial intelligence is transforming financial behavior and decision-making processes, offering new opportunities to optimize financial systems and reduce bias. This study explores the intersection of AI and financial behavior using bibliometric a...
This study examines the investment landscape of Pakistan as an emerging and frontier market, focusing on implications for international investors, particularly those in the United States, through exchange-traded funds (ETFs) with exposure to Pakistan...
This study examines the effect of firms’ greenness on IPO underpricing and subsequent short-term performance during the COVID-19 crisis period. Using 173 U.S. IPOs, we find that IPO underpricing is more pronounced for brown firms (i.e., firms h...
The fraud triangle has long served as a fundamental model for understanding corporate fraud, emphasizing opportunity, pressure, and rationalization. Over time, this framework evolved with the fraud diamond, which introduced capability; the fraud pent...
Using data from the Qingsike Private Equity Database, in this paper, we systematically examine how government policy-guiding funds impacted regional economic development in China from 2010 to 2021. An empirical analysis confirms that government-guide...
This study examines the transformative potential of FinTech, particularly crowdfunding, in the context of traditional financial systems amidst the FinTech market downturn (‘Winter’) of 2022. We address a fundamental question: Does crowdfu...
This study focused on exploring the influence of infrastructural development on foreign direct investment (FDI) in BRICS countries, including Brazil, Russia, India, China, and South Africa, using a fixed-effects approach. Secondary data ranged from 1...
Environmental, social and governance (ESG) ratings (scores) provide quantitative measures for socially responsible investment. We consider ESG scores to be a third independent variable—on par with financial risk and return—and incorporate such numeri...
This study analyzes the relationship between financial education, financial attitude, financial advice, financial knowledge, and behavior and its influence on financial capabilities, as well as their impact on financial well-being. The population con...
The swift expansion of financial technology (FinTech) can substantially improve financial inclusion, especially in the rural regions of emerging nations such as India. FinTech has the potential to drive inclusive growth, reduce inequalities, and fost...
This study examines the association between self-employment, otherwise known as entrepreneurship, and student loan debt. Based on data from the 2021 National Financial Capability Study, which were analyzed using a multinomial probit model, our result...
This paper investigates whether the external audit quality has an impact on the link between ESG performance and firm valuation using a sample of publicly listed Nordic firms. The results from a fixed-effect panel regression show that higher ESG scor...
This study investigates the impact of digital transformation on modern accounting practices among Jordanian SMEs, focusing on the moderating role of organizational culture. Digital transformation using AI, blockchain, and cloud computing improves ope...
This study examines the effects of implementing sustainable strategies in operations on the abnormal stock returns of companies listed on the Vietnamese stock market under uncertain conditions, using an event study and difference-in-differences analy...
Disparities in financial literacy between males and females pose significant challenges in the developing world, particularly in terms of banking sector participation and economic engagement. Women, in particular, face greater difficulties in managin...
This paper investigates the valuation of international acquisitions of multinational corporations (MNCs) using real options theory, focusing on L’Oréal’s acquisition of Aesop. It explores how MNCs create growth and deferral options...
Despite the fact that a decade has elapsed since the establishment of the Eurasian Economic Union (EAEU), the impact of the EAEU on the economic development of its member states remains a subject of ongoing debate. This article examines the mutual tr...
Because of the theoretical challenges posed by the Efficient Market Hypothesis with respect to technical analysis, the effectiveness of technical indicators in high-frequency trading remains inadequately explored, particularly at the minute-level fre...
The issue of key determinants affecting the financial performance of advertising and marketing companies in Central and Eastern Europe remains understudied, despite the industry’s rapid growth and regional specifics. This study investigates fin...
This study aims to investigate how innovation development drives green finance in the Visegrad countries by analyzing the role of R&D investments, high-tech trade, and patent activity in attracting greenfield investments. Using a vector autoregre...
An efficient legal system facilitates the enforcement of guarantees, enables the recovery of non-performing loans and increases trust between creditors and borrowers. This study examines the effect of the legal environment and the profitability of th...
The reversal of the trend towards the decline in income inequality in the last four decades in most countries has created favorable grounds for the rise of nationalist and anti-globalization sentiments. Economic failures of countries, groups of peopl...
This paper examines the relationship between a firm’s working capital policy and the volatility of its stock returns. We find that a firm with an aggressive working capital policy tends to exhibit a higher level of return volatility. This findi...
This study explores the impact of audit quality and the proportion of women on an audit committee on earnings management. Moreover, we examined how age diversity and the presence of non-foreign women on audit committees influence earnings management....
The COVID-19 pandemic had a significant impact on the economy and the stability of financial markets, creating challenges and financial risks for companies. This study analyzes the financial reports of companies listed on Euronext Lisbon with the aim...
Homebuilder ETFs provide investors with a diversified portfolio of residential construction and sales companies which reduces risks associated with individual stock selection in the sector. This study examines the net monthly returns of homebuilder e...
This study aimed to identify the impact of audit committee characteristics on voluntary risk disclosure and to discover the moderating effect of family ownership on the relationship between audit committee characteristics and voluntary risk disclosur...
This study investigates weekend price gaps in three major stock market indices—the Dow Jones Industrial Average (DJIA), NASDAQ, and Germany’s DAX—from 2013 to 2023, using high-frequency (5 min) data to explore whether gap movements...
The relationship between financial systems and entrepreneurial development is explored in this paper, specifically how the conditions and characteristics of a country’s financial system affect entrepreneurial opportunities within a space of sus...
The present work aims to fill the gaps in existing research on the application of machine learning in fraud detection and management in the banking sector. It provides a theoretical perspective on the evolution of algorithms, highlights practical asp...
This study assesses the informational usefulness of several uncertainty metrics in predicting the monetary policy and actual economic activity of Tunisia. We use a Bayesian time-varying vector autoregressive (VAR) model to identify uncertainty shocks...
This study examines the relationships among ICT adoption, resistance to change, and digital transformation, focusing on their influence on financial and operational risk management. The research utilizes a quantitative design, drawing on data from 76...
This study investigates the relationship between listed Ghanaian banks’ financial performance and corporate social responsibility (CSR), given the anticipated increase in businesses’ social duties. This study utilizes a panel autoregressi...
The global economy was profoundly impacted by the emergence of the COVID-19 pandemic, with the hotel industry being among the sectors most severely affected. This study explores the relationship between environmental, social, and governance (ESG) per...
The paper demonstrates the nonsense of using Bitcoin in financial investments. By using mean-variance financial analysis, stochastic dominance, CVaR, and the Shapley value theory as analytical statistical models, I show how Bitcoin performs poorly by...
We analyze intraday liquidity for a range of cryptocurrencies across different exchanges. Among the liquidity measures used, order book variation is most interesting for crypto traders, as it directly impacts their profit/loss. We find evidence that...
The purpose of this study is to analyze the factors influencing the attitudes of women investors in the context of Islamic unit trust funds in Malaysia, with a focus on women’s religiosity and on the perceived religiosity of fund providers. Usi...
The rapid growth of decentralized finance (DeFi) has revolutionized the global financial landscape, providing decentralized alternatives to traditional financial services. This study investigates the asymmetric multifractal behavior of nine DeFi mark...
This study measured the risk aversion of nineteen selected countries using Szpiro’s approach and analyzed its effect on life insurance demand. Additionally, income and education were included as control variables and tested for their effects on...
This study explores the application of time series, machine learning (ML), and deep learning (DL) models to predict the prices and performance of covered call ETFs. Utilizing historical data from major covered call ETFs like QYLD, XYLD, JEPI, JEPQ, a...
Countries such as advanced systemic economies (ASEs) and systemic middle-income countries (SMICs), considering macroprudential policy coordination, must ensure that their financial cycles are sufficiently synchronized. However, differences in the fea...
This article investigates the effectiveness of various classification techniques in predicting financial distress for Albanian firms. The dataset includes 16 financial ratios from the financial statements of 187 of the largest non-financial businesse...
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