International Journal of Financial Studies, Volume 14, Issue 3

This article develops a rigorous and reproducible systematic review of the integration of artificial intelligence (AI) in financial education during the period 2020–2025, structured in accordance with -5.3-PRISMA and explicitly oriented toward...

This study proposes a hierarchical signal-to-policy learning framework for risk-aware portfolio optimization that integrates model-based return forecasting, explainable machine learning, and deep reinforcement learning (DRL) within a unified architec...

This study delves into how the literature conceptualizes banking efficiency as a capability shaping sustainability-oriented pathways under conditions of systemic uncertainty, including recurrent economic–financial disruptions and geopolitical s...

Forecasting returns in Real Estate Investment Trust (REIT) markets remains challenging because REIT performance is shaped by nonlinear and time-varying interactions with macro-financial conditions. This study evaluates the forecasting performance of...

Investment in risky financial assets plays a crucial role in individual wealth accumulation and broader financial market development. However, existing research has primarily emphasized financial literacy while giving limited attention to behavioral...

This study investigates the cointegrating relationships among financial inclusion, institutional quality, and economic growth in 20 Sub-Saharan African nations from 2008 to 2024. Employing the Pooled Mean Group (PMG) estimator in an Autoregressive Di...

The quality of governance is a key driver of resource mobilisation in a context marked by successive shocks that exacerbate fiscal imbalances. This study aims to analyse the role of institutional quality in the relationship between public expenditure...

This paper presents a bibliometric analysis and literature review of methodologies for optimal capital structure decision making, focusing on research published between 2000 and 2024. This study reviews current research, identifies gaps, and outlines...

The importance of financial literacy for professional athletes is undeniable. This study aimed to build on previous research by identifying the financial literacy content areas that require the highest level of competence for professional athletes co...

This study develops a novel AI-based trading framework designed to consistently generate profits across cyclical bullish and bearish futures markets. Unlike conventional strategies that rely on static rules or a single predictive model, the proposed...

This study investigates the determinants of financial performance among Micro, Small, and Medium Enterprises (MSMEs) in Indonesia, addressing the critical issues of low accountability and limited access to capital. Grounded in the Resource-Based View...

This study examines the False Reality Bias in treasury management, a cognitive distortion through which small and medium-sized enterprises (SMEs) infer financial stability from salient bank balances while overlooking pending obligations and cash-flow...

Economic crises significantly restrict corporate access to external financing, and regional differences in recovery capacity deserve close attention. This study examines the financial structure and debt of large enterprises in the Visegrád Fou...

This study investigates the financial and strategic implications of ESG implementation in the hotel sector, focusing on cost structures, stakeholder engagement, and risk-related outcomes. Empirical evidence remains limited in tourism-intensive econom...

Financial markets often display nonlinear and turbulent dynamics during periods of stress, and crude-oil and global equity systems frequently demonstrate closely connected forms of instability. Earlier studies report multifractality, chaotic features...

To mitigate credit risk, banks are required to set aside a specific amount as a safety net to absorb the expected loss on a banks’ loan portfolio called loan loss provisions (LLPs) or provisions for bad debts. All banks worldwide had to adopt I...

This study investigates how greenwashing affects firm value and whether corporate governance can mitigate its negative impact. The analysis is based on 760 companies in the energy, basic materials, and industrial sectors in Indonesia during 2020&ndas...

The correlation between sovereign bond prices and stock prices was positive from the 1970s to 2000 and then turned negative. Researchers have investigated this phenomenon using data from the 1970s to the present. This paper uses data beginning in the...

This study examines whether targets’ environmental, social, and governance (ESG) performance is associated with acquirers’ post-merger ESG outcomes and market valuation over the merger year and the subsequent two years. We treat controver...

The current research examines the impact of climate change disclosure (CCD) on firm value (FV) of Egyptian listed non-financial companies. The current research also investigates the moderating role of board gender diversity (BGD). The study sample in...

Digital transformation in commercial banks is a critical enabler of modern financial development. While technological advancement and resource allocation are key drivers, managerial attributes also play a decisive role in shaping transformation traje...

This study investigates how liquidity and leverage shape financial performance in sub-Saharan Africa’s listed healthcare firms and concludes that internal liquidity capacity is a more reliable driver of performance than debt. Using an ex post f...

Financial volatility increasingly challenges firms to maintain operational sustainability; yet the mechanisms through which cash flow uncertainty (CFU) shapes environmental practices remain unclear. Based on an international unbalanced panel of 14,79...

This paper examines the influence of Monetary Policy Transparency on Foreign Equity Portfolio Allocation by addressing the informational frictions that shape cross-border investment in Financial Markets. Building on recent developments in central ban...

Cryptocurrency markets are characterized by extreme volatility, fat-tailed return distributions, and frequent regime shifts, challenging traditional mean–variance portfolio optimization. In such environments, downside risk management becomes ce...

Vietnam’s sustained poverty reduction has coincided with rising foreign direct investment (FDI) and a major shift from income-based to multidimensional poverty measurement, raising challenges for interpreting poverty dynamics and the role of FD...