2025 June - 66 articles
The link between ESG and financial performance is still under debate. In this study, we explore which aspects of ESG specifically drive market valuations through both systematic and idiosyncratic risk channels. We analyze the impact of the three core...
This paper establishes an insider trading model under market supervision, which includes four types of trading entities: an insider trader, n external traders, noise traders, and market makers. The insider trader voluntarily discloses information to...
The financial valuation of professional football players is influenced by multiple factors that evolve throughout a player’s career. This study examines these determinants using Gradient Boosting Machine Learning models, segmented by three age...
This study explores how geographical factors shape El Salvador’s banking sector, particularly focusing on regional disparities, urbanization, and vulnerability to natural disasters affecting access to financial services. By employing a mixed-me...
This study investigates the impact of digital finance on corporate ESG performance, using panel data from A-share listed companies on the Shanghai and Shenzhen stock markets between 2011 and 2022. Our findings demonstrate that digital finance signifi...
Bitcoin and other cryptocurrency returns show higher volatility than equity, bond, and other asset classes. Increasingly, researchers rely on machine learning techniques to forecast returns, where different machine learning algorithms reduce the fore...
The Model of Intuitive Morality and Exemplars (MIME) suggests that news audiences, including investors, evaluate news based on their moral frames, and that these moral evaluations shape behavior. We extracted moral signals from 382,185 news articles...
This research examines the challenges of issuing green bonds due to a lack of established benchmarks. We compare regional differences between the U.S. and the E.U., hypothesizing that issuers of green bonds stand to benefit from comparing them to con...
The emergence of online brokerage platforms, mobile banking applications, and commission-free trading has altered the investment landscape, renewing commercial and scholarly interest in retail investors. In light of these changes, the present study a...
This research empirically investigates how the adoption of restricted stock units (RSUs) affects earnings per share (EPS) and operating profit, focusing on variations across industries. RSUs have emerged as a strategic compensation tool for promoting...
This paper investigates whether countries’ investments in financial inclusion, beyond what their economic capacity would predict, help mitigate gender and income-group gaps in financial opportunities. We construct a novel index, the Abnormal Fi...
Accurate gold price forecasting is essential for informed financial decision-making, as gold is sensitive to economic, political, and social factors. This study presents a hybrid framework for multivariate gold price prediction that integrates classi...
The Middle East and North Africa (MENA) region has faced challenges like political instability and economic fluctuations, which have impacted non-performing loans (NPL) levels. At the same time, over the years, reforms and regulations have encouraged...
This study examines the impact of corporate venture capital (CVC) on the labor income share of science and innovation enterprises, focusing on data from China’s Science and Technology Innovation Board (STIB) and Growth Enterprise Market (GEM) b...
This study examines whether portfolio optimization can be effectively based on annual changes in the harmonized index of consumer prices (HICP) data. Specifically, we assess whether asset allocation based on consumer expenditure can generate superior...
This study examines the causal and dynamic effects of carbon information disclosure on firm value, using a policy-driven setting in China’s carbon-intensive industries. In 2018, the Ministry of Ecology and Environment implemented a regulatory p...
This paper employs a Time-Varying Parameter Vector Autoregression Directional–Spillover (TVP-VAR-DY) model to investigate the dynamic spillover effects among China’s energy, real estate, and stock markets from 2013 to 2023, with a focus o...
Based on data from the China Household Finance Survey (CHFS) conducted in 2019, this paper conducted an in-depth study on the impact and mechanism of financial attention on household consumption upgrading. The study found that an increase in financia...
This study examines the impact that fat-tailed distributions of the spread residuals have on the optimal orders for pairs trading of stocks and cryptocurrencies. Using daily data from selected pairs, the spread dynamics has been modeled through a mea...
This study investigates whether and how the complexity of derivative use influences the stock price crash risk in China’s capital market, a critical question given the growing use of derivatives in emerging economies where governance structures...
Exchange rate volatility has emerged to be one of the most critical determinants of price stability for countries operating in multicurrency systems with their own currency in the basket of currencies. This study empirically examined the impact of ex...
The objective of this paper is to contribute to the analysis of the relationship between banks and stock markets in sub-Saharan African countries and their impacts on economic growth. While the literature on this issue is abundant, our article focuse...
The popular Wishart (WI) processes, first introduced by Bru in 1991, exhibit convenient analytical properties for modeling asset prices, particularly a closed-form characteristic function, and the ability to jointly model stochastic volatility and co...
From reviewing the literature, there was still a scarcity of research about direct and indirect relationships between fintech adoption (FA) and banks’ environmental performance (BEP), particularly in developing countries. Therefore, this is a p...
This paper examines the inflationary episode of 1603 in Spain through the lens of Austrian Economic Theory. The study focuses on the effects of monetary expansion caused by the influx of precious metals from the Americas and its impact on real wages...
In this paper, we propose a linear factor model that incorporates investor preferences toward sustainability to analyze indirect effects that climate concerns may have on asset prices. Our approach is based on the relationship between environmental,...
The rise of social media has significantly influenced the cryptocurrency market, driving volatility through sentiment-driven trading. This study employs a bibliometric and content analysis approach to examine how social media, particularly Twitter, i...
This study investigates the non-linear effect of the cash conversion cycle (CCC) on a firm’s profitability for a sample of 6072 firms from five countries (Germany, Spain, France, Great Britain, and Italy) from 2006 to 2015. Additionally, this s...
The field of sustainable finance has grown rapidly in response to escalating climate and economic challenges, yet its intellectual landscape, especially the connectedness between green and traditional financial systems, remains underexplored. This pa...
This study examines whether Chief Executive Officers (CEOs) exercise a greater proportion of their exercisable options in response to firm-specific stock price bubbles. For a sample of U.S. firms from 1992 to 2021, the study identifies stock price bu...
This study investigates the factors influencing tax compliance among Greek entrepreneurs functioning within a difficult fiscal landscape. Through a randomized field experiment, we analyze the effects of differing tax rates, audit likelihoods, and leg...
This study explores the impact of environmental, social, and governance (ESG) factors on profitability and market capitalization within the European automotive industry. Since the industry is confronted with environmental and regulatory challenges, E...
Elderly individuals who need the support of others may be subjected to abuse in managing their budgets and financial decisions. This situation is explained as financial exploitation, which is a subtype of elder abuse. The main purpose of this study i...
Managing risk, matching resources efficiently, and ensuring fair allocation are fundamental challenges in both finance and decision-making processes. In many scenarios, participants contribute unequally to collective outcomes, raising the question of...
This study examines whether the gaps in four financial well-being (FWB) indicators—emergency fund availability, spending less than income, perceived financial comfort, and no credit card debt—between groups with varying levels of financia...
In light of global initiatives aimed at promoting sustainability and low-carbon growth, this research investigates how green finance affects regional technological innovation in China, specifically highlighting the mediating effect of R&D investm...
This study aims to review research on voluntary IFRS application and future research directions. This study presents a bibliometric review of 185 studies on voluntary IFRS application using Web of Science data and R software. Four research clusters a...
This study examines the relationship between banking sector development (credit and deposits) and economic growth in Ecuador, using quarterly data for the period 2000–2022. An ARDL approach with Bound Test cointegration is employed, incorporati...
Financial sentiment analysis is crucial for making informed decisions in the financial markets, as it helps predict trends, guide investments, and assess economic conditions. Traditional methods for financial sentiment classification, such as Support...
This study examines the impact of Hofstede’s six cultural dimensions and institutional quality on financial development in the periods preceding and following the global financial crisis. The study analyzes data from 33 countries spanning 2001...
(1) Background: The survival and growth of startups in their early stages are negatively impacted by the lack of financial sustainability and scarce resources that entrepreneurs face during the first 5 years. This is known as the Valley of Death (VoD...
This study aims to analyze the spatial effects triggered by dollar liquidity by constructing a multidimensional spatial matrix that modifies the traditional monetary spatial framework. We utilized a three-level spatial econometric model (Spatial Lag,...
Extreme weather events are the primary driver of environmental, social, and governance (ESG) responsible investment or sustainable stocks, which are gaining popularity worldwide, including in Thailand. Nevertheless, the function of sustainable stocks...
The objective of the study is to examine the effects of investor sentiment on the Johannesburg Stock Exchange (JSE) index returns in bull and bear market conditions. Accordingly, this study uses monthly data to construct a new market-wide investor se...
This study aims to investigate how sustainable innovation (SI) influences the relationship between internal audit effectiveness (IAE) and sustainability auditing (SA) practices in Libya’s public sector, providing valuable insights into its impl...
Information asymmetry between banks and enterprises in the credit market is essentially the microfoundation of financial risk generation. The frequent occurrence of corporate debt defaults, mainly due to the behavior of short-term debt for long-term...
Welfare quality is usually a stochastic outcome, as attempts at improving social welfare cannot be predicted in advance. The advances in stock market participation conclude that equity market performance is able to reflect investors’ mass react...
The financial markets are highly influential and any change in the economy can be reflected in stock prices and thus have an impact on stock indices. The relationship between stock indices and the way they are affected by extreme phenomena is importa...
This study conducts a comprehensive bibliometric analysis of the use of agent-based modeling (ABM) in finance and banking, aiming to uncover how this methodology has evolved over the past two decades. It addresses the following overarching question:...
In today’s rapidly changing economic landscape, financial stability plays a crucial role in ensuring individual and societal well-being. Millennials encounter unique financial pressures, including shifting labor markets, high housing costs, and...
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