Journal of Risk and Financial Management, Volume 18, Issue 7

Despite growing scholarly interest in digital transformation, few studies have systematically explored the mechanisms linking digital transformation capability to firm performance. This study examines both the direct and indirect effects of digital t...

This study investigates whether internationally diversified firms substitute between accrual-based and real earnings management and examines how institutional supervision moderates this relationship. Drawing on a sample of Taiwanese firms listed on t...

This study explores the relationship between customer satisfaction and loyalty in mobile banking, emphasizing the moderating role of Technology Readiness. As mobile banking becomes increasingly central to financial service delivery, understanding the...

This study examines the relationship between crude oil returns (CRT) and Islamic stock returns (ISR) in BRIC countries during the Global Financial Crisis (GFC), employing wavelet-based comovement analysis and regression models that incorporate both c...

The increasing complexity of the hotel industry necessitates the implementation of sophisticated cost systems capable of delivering accurate and relevant cost information to support managerial decision-making. Investigating the determinants of cost s...

The study of capital structure is one of the most relevant topics in finance because, despite the various theories that seek to explain it, there is still no consensus on the determining factors or the behaviors of financing decisions in companies. T...

The contagious COVID-19 disease not only brought about a global health crisis but also a disruption in the global economy. The uncertainty levels regarding the impact of the disease increased volatility. This study analyses stock market volatility an...

Global financial markets have experienced significant volatility during crises, particularly COVID-19 and the Russia–Ukraine conflict, prompting questions about how regional markets respond to such shocks. Previous research highlights the influ...

This research investigates the liability management of Thai life insurers in a prolonged low-interest rate environment. It examines the impact of interest rate changes on life insurance products, solvency, and profitability. The study identifies a si...

This paper highlights the importance of accounting for both the maturity structure of government debt and the composition of fiscal instruments when studying the macroeconomic effects of fiscal policy. Using a dynamic stochastic general equilibrium (...

We investigate the affine term structure models (ATSMs) with unspanned stochastic volatility (USV). Our aim is to test their ability to generate accurate cross-sectional behavior and time-series dynamics of bond yields. Comparing the restricted model...

Central Bank Digital Currencies (CBDCs) are increasingly positioned as digital equivalents to physical cash, yet their ability to replicate the full functionality of cash remains contested. This study investigates whether the proposed Digital Euro ca...

This study aims to analyze the impact of the U.S. Federal Reserve System’s monetary policy on major cryptocurrencies. Specifically, it explores whether the effects differ between volatile cryptocurrencies, such as Bitcoin and Ethereum, and the...

This study examines the impact of financial inclusion (FI) on reducing poverty and income inequality in Latin America and the Caribbean (LAC), using panel data from 15 countries for the period 2004–2021. System GMM with robust errors was used t...

The maritime sector faces urgent decarbonisation pressures due to regulatory instruments, such as the International Maritime Organization’s (IMO) Carbon Intensity Indicator (CII), which mandates reductions in greenhouse gas emissions per transp...

This study investigates the impact of digital transformation on corporate tax avoidance in the banking industry, focusing on banks in the Middle East and North Africa (MENA). This study employs regression analysis on a sample of 123 banks in the MENA...

This study investigates why firms with large book–tax differences (BTDs) exhibit lower earnings persistence, particularly during periods of revenue declines. While prior literature has linked BTDs, especially large positive BTDs (LPBTDs), to ea...

This study examines the impact of cost stickiness on research and development (R&D) investment and corporate performance in Japanese firms. Additionally, it investigates the moderating effect of managerial overconfidence and financial slack. To d...

This study compares two risk tolerance scales used in the Survey of Consumer Finances (SCF), namely the long-standing 4-point scale and the newer 11-point scale, to determine which better captures an individual’s investment risk preferences. Th...

This study examines the role of supervisory frameworks in shaping the risk management behavior of Greece’s four systemic banks during the period of 2015–2024. It explores how regulatory reforms under Capital Requirements Regulation II, Ba...

This study explores the impact of growth opportunities on the capital structure of South African banks, utilising panel data from registered banking institutions covering the period from 2014 to 2023. While a substantial body of literature examines t...

This study examines the deferred tax valuation allowance disclosures of a sample of venture-capital-backed IPO firms that incurred a net operating loss (NOL) in the period prior to their public offering (IPO). I find that 82 percent of these firms re...

Bank operations are contingent upon investor confidence, particularly during periods of economic distress. If investor confidence drops, a bank faces difficulties obtaining money, higher borrowing costs, and lower stock values. Non-performing loans (...

As digital connectivity transforms financial decision-making, this study offers one of the first empirical investigations into the relationship between social media use and socially responsible investing (SRI). Using data from the 2021 National Finan...

This study investigates cyclical asymmetries in money demand models considering the moderating effect of financial development. Prior research has overlooked this issue in the money demand literature within the Fijian context, where research is outda...

The valuation of biological assets represents a crucial component for the generation of accounting information, especially in the context of the agricultural sector, where assets subject to continuous transformation processes predominate. This study...

This paper addresses the definitional ambiguity surrounding the term “green fintech” and its distinction from related concepts such as green finance and sustainable finance. We argue that the lack of clarity impedes accountability and fac...

Sub-Saharan Africa’s (SSA) corporate environment, like many emerging markets, is marked by institutional voids, weak oversight structures, and patriarchal leadership norms, which heighten the risk of real earnings management (REM). This study e...

Sustainability performance is an important criterion for investors and lenders when making financing decisions. This study aims to analyze whether sustainability governance influences sustainability performance and the extent to which sustainability...

Zimbabwe’s economy has experienced extreme exchange rate fluctuations over the past decades, driven by persistent macroeconomic instability and episodes of hyperinflation. The instability in exchange rates can significantly impact trade balance...

In this work, we examine the correlation between financial inclusion and the Environmental, Social, and Governance (ESG) factors of sustainable development with the assistance of an exhaustive panel dataset of 103 emerging and developing economies sp...

Audit quality is crucial, particularly for small and medium-sized enterprises (SMEs), due to their significant economic role. This study examined how spatial distance (physical separation) and social distance (perceived dissimilarity) between auditor...

Considered as innovation-oriented, this research was conducted to examine whether STEM-educated CEOs drive better ESG performance. Using OLS regression, this research was conducted using listed companies assessed for their ESG performance on Sustaina...

This study examined the relationship between margin trading and cryptocurrency investment using data from the 2018 and 2021 waves of the National Financial Capability Study (NFCS) Investor Survey. Guided by behavioral finance theory, which suggests t...

This study examines the effects of capital lease arrangements on the operating performance of shipping firms as proxied by Return on Assets (ROA). The maritime industry is highly capital-intensive, often requiring substantial investments in fleet acq...

This research evaluates the effectiveness of traditional models in predicting movements in the Moroccan financial market, with a focus on the MASI and MASI ESG indices. As environmental, social, and governance (ESG) criteria gain prominence in financ...

This study examines stock market reactions to female board appointments among 34 publicly listed companies in Saudi Arabia between 2021 and 2024. We employ a multi-method approach covering 36 announcements. Our primary methodology is an event study,...

This study investigates the attributes influencing the adoption of fintech services for sustainable investment within the blue economy. Specifically, it integrates the Diffusion of Innovations (DOI) theory and the Technology Acceptance Model (TAM) to...

The impact of Environmental, Social, and Governance (ESG) scores on financial performance remains a subject of debate, as the literature reports mixed evidence regarding their effect on stock returns. This research aims to examine the relationship be...

With the increasing adoption of technologies such as mobile banking and blockchain, the banking sector in developing and emerging economies is experiencing both opportunities and challenges. This study examines the impact of FinTech on bank risk-taki...

This study investigates the yield-seeking behavior of income-oriented institutional investors, who are essential players in financial markets. While external pressures compelling firms to “reach for yield” are well-documented, the firm-le...

This study investigates the effectiveness of neural network models, particularly LSTM networks, in enhancing the accuracy of inflation forecasting. We compare LSTM models with traditional univariate time series models such as SARIMA and AR(p) models,...

Aim: This article explores the contributing factors to the decline in the number of auditors globally and aims to provide the consequences and possible recommendations. Auditors play a critical role in ensuring transparency, trust, and credibility of...

This paper investigates the ability of asset pricing models to explain the cross-section of average stock returns of anomaly portfolios. A large sample of 286 anomaly portfolios are employed. We perform out-of-sample cross-sectional regression tests...

This study investigates how consumers respond to firm communications emphasizing Environmental, Social and Governance (ESG) dimensions. Through experimental design, how consumers distinguish among ESG components and how each affects behavioral financ...

This paper examines cryptocurrency shock transmission to financial markets and the macroeconomy using a Bayesian structural VAR with Pandemic Priors from 2015 to 2024. By affecting overall risk appetite, cryptocurrency price shocks generate positive...

The role of digitization in promoting Sustainable Development (SD), as a key topic in recent scientific research, remains a subject of debate. In order to investigate this, a panel dataset covering 28 developed and 27 developing countries from 2000 t...

Restrictive conditions that financial institutions require on credit allocation remain the main constraints to developing and creating new businesses. In this context, the concept of private equity came to fill this problem. However, because it is a...

The investment–saving relationship has been the subject of much debate. On the one hand, there is the conventional mainstream neoclassical school of thought that advocates for the idea that saving determines investment. On the other hand, heter...

Purpose: This study aims to provide a comprehensive and objective view to investigate whether the motives of strong financial managers to adopt an accounting conservatism strategy have significant effects on improving financial growth opportunities i...