2026 January - 94 articles
Employing textual analysis of the “short-term vision” vocabulary in annual reports, we investigate the impact of managerial myopia on firm innovation and performance. Our results indicate that managerial myopia hampers innovation, and thi...
This study analyzes the relationship between macroeconomic distress and financial dollarization in Türkiye using annual regional panel data for 26 Nomenclature of Territorial Units for Statistics 2 regions over the period 2005–2021. Macroe...
(1) Background: The convergence of Big Data and the Internet of Things (IoT) is transforming digital accounting from retrospective documentation into real-time operational intelligence. This systematic review examines how Industry 4.0 technologies&md...
This paper addresses a critical inconsistency in models of the term structure of interest rates (TSIR), where zero-coupon bonds are priced under risk-neutral measures distinct from those used in equity markets. We consider a unified TSIR framework th...
Artificial intelligence technology has increased in popularity in the domain of accounting. Previous studies have focused on analysing the impact of AI integration on accounting in general and on work performance, with few researchers analysing the i...
This paper compares actively managed bond vs. equity mutual fund performance using modified False Discovery Rate (
In this paper, the authors survey and summarize the widely researched morbidities and their life expectancy results. A constant impaired mortality adjustment for each morbidity is defined so that life expectancy is consistent with current medical res...
This study examines the relationship between publicly traded Thai companies’ ESG performance and value as well as how board structures moderate this. In the Thai context, there is a limited number of empirical studies that employ the board of d...
We investigate the underlying risk exposures of ETFs compared with their indices using a Principal Component Analysis approach. Then, we test whether ETFs’ tracking errors can capture the risk exposure difference between ETFs and their underlyi...
Background: Working capital management plays a critical role in ensuring business liquidity and financial sustainability. However, few studies in developing economies have employed multivariate statistical techniques to optimize working capital decis...
We have developed a comprehensive mathematical framework that delineates the complete transition of a firm from private to public ownership. This framework explicitly formalizes the endogenous decision to list, pre-listing restructuring, regulatory f...
This study investigates the relationship between stock returns and income inequality in South Africa, a country marked by persistently high levels of income disparities and a sophisticated and structurally unique financial market. Despite the Johanne...
This study proposes a neural-augmented Libor Market Model (LMM) for swaption surface calibration that enhances expressive power while maintaining the interpretability, arbitrage-free structure, and numerical stability of the classical framework. Clas...
In this study, we evaluated the returns and return volatility of a Brazilian stablecoin linked to fertilizers during periods preceding its discontinuation. In light of the safe haven literature, we also tested the correlation between this stablecoin...
Blockchain is widely promoted as a tool for enhancing transparency, trust, and sustainability in business, yet little is known about how creative micro, small, and medium enterprises (MSMEs) in emerging economies can meaningfully adopt it for finance...
Pairs trading via futures calendar spreads offers a robust market-neutral approach to exploiting transient mispricings, yet real-time implementation is hindered by asynchronous trading. This paper introduces a Cointegrated Ising Spin Model, CISM, for...
Before the enactment of the Dodd–Frank Act, firm size was taken into account by rating agencies in determining the credit ratings of banks. Therefore, the “too-big-to-fail” problem was, at least partially, reflected in big banks&rsq...
Accurate volatility forecasting in energy markets is paramount for risk management, derivative pricing, and strategic policy planning. Traditional econometric models like the Heterogeneous Auto-regressive (HAR) model effectively capture the long-memo...
Taking climate funds (e.g., the Green Climate Fund) as the main financial mechanism for providing funding to developing countries, this paper examines a long-term climate funding relationship between two parties—the rich country and the poor co...
Two main perspectives exist regarding the interaction between fiscal deficits and expansionary monetary policy. The first perspective argues that fiscal deficits raise interest rates, thereby increasing interest payments and complicating monetary sta...
This study investigates the valuation dynamics of 30 publicly listed fintech firms across six Asian economies from January 2021 to December 2025. It examines how intrinsic firm-level scale (market capitalization) and extrinsic macroeconomic condition...
This study aimed to develop a credit risk index to classify coffee producers according to socioeconomic, agronomic, and financial performance variables, with the purpose of strengthening financial inclusion. We combined qualitative and quantitative m...
Financial crises increasingly exhibit complex, interconnected patterns that traditional risk models fail to capture. The 2008 global financial crisis, 2020 pandemic shock, and recent banking sector stress events demonstrate how systemic risks propaga...
This study examines how inclusive finance organisations are adapting to the European Union (EU)’s digital–green twin transition and how regulatory design can reinforce this alignment. Drawing on qualitative insights from 26 institutions&m...
We investigate the profitability of systematic sector rotation strategies in the Canadian equity market using TSX 60 constituents (2000–2025). Testing 72 distinct strategies across three theoretical frameworks—momentum, mean-reversion, an...
Exchange-traded funds (ETFs) provide low-cost, liquid access to broad equity and fixed-income exposures, including rapidly growing Asian and Asia-focused markets. Yet the academic evidence on Asian ETF portfolio construction remains fragmented, often...
We investigate how environmental, social, and governance (ESG) risk can spread between peers and its impact on long-term firm performance. Using data across six geographically diverse countries over a fourteen-year period, we find a significant spill...
This study examines the impact of tax avoidance practices on investment efficiency in Egypt, with particular emphasis on the moderating role of earnings management by exploring whether these tactics reflect managerial opportunism or serve as a mechan...
This research aims to analyze strategic risks from financial digitalization, highlighting the disruptive role of Fintech firms and Neobanks, the associated challenges and opportunities, and how traditional banks can adapt to remain competitive and st...
This paper examines the association between company reputation and internal control quality. The prior literature suggests that reputation concerns reduce the range of risky choices by management. Building on this idea, we propose that reputation con...
This study analyzes the socio-cultural and behavioral determinants of FinTech adoption and access to credit among Ecuadorian SMEs. A probabilistic sample of 600 firms, operating in the services, commerce, information and communication technologies (I...
Decentralized Finance (DeFi) has become a major component of digital asset markets, yet accurately valuing protocol performance remains difficult due to high volatility, nonlinear pricing dynamics, and persistent disclosure gaps that amplify valuatio...
This paper examines an optimal investment–consumption problem in a setting where the financial environment is influenced by both stochastic factors and delayed effects. The investor, endowed with Constant Relative Risk Aversion (CRRA) preferenc...
With the enactment of the 2013 government mandate, Indian corporations meeting specific criteria no longer have the discretion to forgo CSR expenditures. Previous studies have reported negative capital market reactions to this regulatory intervention...
Overfitting remains a critical challenge in data-driven financial modelling, where machine learning (ML) systems learn spurious patterns in historical prices and fail out of sample and in deployment. This paper introduces the GT-Score, a composite ob...
We investigate informed trading in the Bitcoin market throughout the COVID-19 pandemic. Compared to the pre-pandemic period, we find that informed trading is significantly higher in the affective first stage of the pandemic, before reverting to its p...
As corporate sustainability reporting evolves into a pivotal resource for investors, regulators, and stakeholders, the imperative to evaluate and elevate ESG disclosure quality intensifies amid persistent challenges like opacity, inconsistency, and g...
This study examines the determinants of goodwill impairment recognition under IFRS 3 in the context of Moroccan listed firms. Using an unbalanced panel covering the period of 2006–2024 and comprising 862 firm-year observations, we employ a thre...
Over the last decade, there has been a significant increase in banks’ investment in technology, alongside a substantial rise in CEO compensation. Research on executive compensation has primarily focused on traditional performance metrics, such...
This study investigates the influence of major regulatory interventions on decentralised finance (DeFi) token markets by conducting an event study of six high-profile announcements issued between 2023 and 2025. The analysis reveals that these interve...
Between 2018 and 2025, alternative finance expanded while micro-, small- and medium-sized enterprises in emerging economies continued to face a substantial funding gap. This study examines how entrepreneurial frugality articulates frugal ecosystems,...
This paper examines how International Monetary Fund (IMF) lending affects financial markets across emerging and developed economies from 2002 to 2023 using an event study approach. Our findings indicate that IMF loans are typically granted during per...
Artificial intelligence (AI) use has become a major emerging trend in corporate finance and governance. AI is used for a variety of business tasks, such as assessing credit risk, document analysis, corporate default forecasting, and detecting fraud....
This study classifies corporate financial performance in countries in the Middle East and North Africa (MENA) region, addressing the critical need for accurate and early identification of high-, moderate-, and low-performance companies. The selection...
This study examines how environmental, social, and governance (ESG) occurrences relate to firm performance and how these relationships depend on firms’ investments in brand capital. Using firm-level data spanning more than two decades, we analy...
Internal accounting control personnel constitute the operational foundation through which firms ensure the accuracy and reliability of financial reporting, yet their relevance to capital market outcomes remains insufficiently documented. This study e...
This paper develops a quantitative framework for climate–financial risk measurement that combines a spatially explicit jump–diffusion asset–loss model with prudentially aligned risk metrics. The approach connects regional physical h...
This paper empirically analyses variation in use of formally, semi-formally, and informally regulated finance using the South African National Income Dynamics Study longitudinal data. The logistic regressions indicate that many individuals use a comb...
This study examines the effects of geopolitical risks on the investment efficiency of Vietnamese firms from 2017 to 2024 using fixed effect models and a series of robustness tests. The research findings reveal a negative effect of geopolitical risks...
This study investigates the measurement bias introduced by the widespread use of overlapping returns in time series momentum (TSM) research, which can materially overstate the strength of TSM signals. Using a univariate AR(1) framework, simulations,...
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