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

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...