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International Journal of Financial Studies, Volume 12, Issue 1

March 2024 - 29 articles

Cover Story: This article provides a macro-foundation for why the specific value of 2% is a valid inflation target. The approach postulates that innovations generate transactional cost savings in comparison to barter. The optimal velocity of money is derived as a function of productivity growth and long- as well as short-term interest rates, with coefficients reflecting the leverage ratio of depository institutions and the degree of bias in technical progress in transaction technology. The model is tested for the U.S. over the period 1959–2007. Setting the inflation target rate equal to the growth rate of velocity leads to an inflation rate near 2% and is akin to pursuing the Friedman k-% rule. This rule provides flexibility to prevent deflation. A long-term Taylor-type rule is derived. A robustness test is also conducted by extending the sample period up to 2023. View this paper
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Articles (29)

  • Article
  • Open Access
4 Citations
3,156 Views
29 Pages

The importance of intellectual capital (IC) in past decades unfolds several dimensions of firm performance (FP). Still, the contradictory and inconclusive relationship between IC and FP in the literature motivates the researchers to explore further a...

  • Article
  • Open Access
4 Citations
3,417 Views
15 Pages

This study investigates the relationship between market power and bank profitability, and the impacts of CEOs’ personality traits, in Vietnam from 2007 to 2020. The analysis of CEOs’ signatures is used to determine their characteristics....

  • Article
  • Open Access
1 Citations
3,287 Views
17 Pages

Venture Capital and Dividend Policy

  • Yi Tan,
  • Xiaoli Wang and
  • Xiaoyu Fu

In this paper, we empirically examine the impact of venture capital investment on the dividend policy of the invested companies using a sample of list companies from China’s ChiNext market during the period 2014 to 2019. Our empirical results s...

  • Article
  • Open Access
3 Citations
4,767 Views
16 Pages

This research investigates the factors influencing the capital structure of 271 non-financial firms listed on the Korean Stock Exchange (KSE) over a broad period from 1995 to 2021, encompassing both stable and crisis conditions. Employing a dynamic p...

  • Article
  • Open Access
7 Citations
3,586 Views
35 Pages

This study describes a comprehensive bibliometric analysis of shadow banking and financial contagion dynamics from 1996 to 2022. Through a holistic approach, our study focuses on quantifying the impact and uncovering significant trends in scientific...

  • Article
  • Open Access
3 Citations
3,685 Views
15 Pages

Decision Rules for Corporate Investment

  • Reinier de Adelhart Toorop,
  • Dirk Schoenmaker and
  • Willem Schramade

We investigate the decision rules for corporate investment by designing a company value frontier. This company value frontier allows for balancing the financial value and social and environmental impacts. This article develops novel value concepts&md...

  • Feature Paper
  • Article
  • Open Access
7 Citations
4,162 Views
21 Pages

Following the COVID-19 pandemic, the healthcare sector has emerged as a resilient and profitable domain amidst market fluctuations. Consequently, investing in healthcare securities, particularly through mutual funds, has gained traction. Existing res...

  • Article
  • Open Access
10 Citations
21,859 Views
36 Pages

This study investigates the relationship between dividend policy, firm performance, and value within the Korean market, taking into account the unique context of Chaebol ownership structures. Utilizing a robust dataset of 5478 observations from the K...

  • Article
  • Open Access
1 Citations
4,772 Views
18 Pages

The progress of financial markets depends on the way world investors foresee the market potential of the country of choice. Countries that are associated with favorable economic incentives are able to motivate investments in their respective stock ma...

  • Article
  • Open Access
2 Citations
4,876 Views
18 Pages

This study investigates the risk-adjusted performance of energy equity mutual funds across a 23-year period, employing the Cumulative Wealth Index (CWI) to gauge their long-term performance relative to benchmark indices. Despite inherent volatility d...

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Int. J. Financial Stud. - ISSN 2227-7072Creative Common CC BY license