You are currently viewing a new version of our website. To view the old version click .

International Journal of Financial Studies, Volume 13, Issue 3

September 2025 - 66 articles

Cover Story: This study examines how acquirers’ corporate environmental performance (CEP) affects post-merger value, using 1437 US M&A deals from 2002 to 2019. Employing multi-level fixed effects regression and IV (2SLS) models, we find CEP significantly improves long-term market value. Resource use and emissions show positive effects, with emissions performance having the strongest impact due to stakeholder concerns. Environmental innovation has weaker average effects but generates significant returns in large deals. Results highlight the strategic value of CEP pillars and suggest that prioritizing environmental innovation can enhance future competitiveness. This paper contributes by analyzing CEP sub-pillars, providing granular evidence on how environmental strategies shape acquirer value. View this paper
  • Issues are regarded as officially published after their release is announced to the table of contents alert mailing list .
  • You may sign up for email alerts to receive table of contents of newly released issues.
  • PDF is the official format for papers published in both, html and pdf forms. To view the papers in pdf format, click on the "PDF Full-text" link, and use the free Adobe Reader to open them.

Articles (66)

  • Article
  • Open Access
958 Views
19 Pages

Against the backdrop of tightened credit conditions, external financing constraints have increasingly become an important factor affecting enterprises’ high-quality development. This study focuses on the impact of financing constraints on the h...

  • Article
  • Open Access
1 Citations
2,533 Views
25 Pages

The global movement towards a cashless society has prompted the payment of tax obligations through digital platforms and sources. In this international race to ensure that transaction payments are not hindered by the lack of physical cash, Nigeria is...

  • Article
  • Open Access
2,226 Views
26 Pages

This paper investigates how market expectations regarding profitability mean reversion are reflected in stock prices. We propose a model that infers implicit expectations of future earnings using publicly available share prices based on the assumptio...

  • Article
  • Open Access
1 Citations
5,378 Views
27 Pages

Generational Insights into Herding Behavior: The Moderating Role of Investment Experience in Shaping Decisions Among Generations X, Y, and Z

  • Abdul Syukur,
  • Amron Amron,
  • Fery Riyanto,
  • Febrianur Ibnu Fitroh Sukono Putra and
  • Rifal Richard Pangemanan

Understanding generational differences in herding behavior is crucial for policymakers, financial educators, and market regulators, particularly in emerging markets where retail investor participation is rapidly growing. This study investigates the i...

  • Article
  • Open Access
5,543 Views
20 Pages

This study investigates the influence of FOMO, loss aversion, and herd behavior on gold investment decisions in the Vietnamese market. Employing data collected from 727 investors and the Partial Least Squares Structural Equation Modeling (PLS-SEM) me...

  • Article
  • Open Access
1 Citations
1,045 Views
15 Pages

This study explores the ownership–risk relationship in the GCC emerging economies during the COVID-19 pandemic, examining 44 commercial banks classified as private and publicly owned banks. The two-stage least squares (2SLS) method is employed...

  • Article
  • Open Access
1,733 Views
26 Pages

Some giant US conglomerates are now undergoing corporate spin-offs or are considering such spin-offs in the near future. Corporate spin-offs offer a unique opportunity to assess corporate capital structure decisions. The leverage ratio of the spin-of...

  • Review
  • Open Access
2 Citations
1,441 Views
21 Pages

The Philosophy of Financial Performance: A Bibliometric and Conceptual Review

  • Ionela Munteanu,
  • Liliana Ionescu-Feleagă,
  • Bogdan Ștefan Ionescu,
  • Alexandra-Maria Spânu and
  • Mircea Iosif Rus

Financial performance research has increasingly intersected with philosophical debates on ethics, sustainability, and stakeholder value, yet a clear framework linking these perspectives to actionable financial metrics remains underdeveloped. This stu...

  • Article
  • Open Access
4,848 Views
36 Pages

Financial literacy is a key competence for responsible decision-making and entrepreneurial readiness. This study looks at how Generation Z’s entrepreneurial participation is impacted by objective, subjective, and calibrated FL. The alignment of...

  • Article
  • Open Access
1,428 Views
30 Pages

This study applies machine learning methods to predict the Canadian yield curve using a comprehensive set of macroeconomic variables. Lagged values of the yield curve and a wide array of Canadian and international macroeconomic variables are utilized...

of 7

Get Alerted

Add your email address to receive forthcoming issues of this journal.

XFacebookLinkedIn
Int. J. Financial Stud. - ISSN 2227-7072