2026 May - 24 articles
The growing incorporation of environmental, social, and governance (ESG) considerations into global financial systems has significantly influenced investment decision-making. Previous studies have mainly concentrated on ESG performance and their asso...
This study assesses liquidity, profitability, and working capital management (WCM) strategy in Polish manufacturing companies in the pressure-casting industry, drawing on evidence from the pre-COVID-19, COVID-19, and Russia–Ukraine war periods....
While there is some agreement on estimating construction cost contingency for “known unknowns,” there is little consensus on estimating management reserves for “unknown unknowns.” Definitions of risk and uncertainty also diffe...
This study examines how internal board governance influences carbon emission disclosure (CED), conceptualized as both a key dimension of ESG transparency and a mechanism for managing disclosure-related risks. Using panel data from 175 listed firms ac...
The rapid development of the fintech sector has facilitated the emergence of digital multi-level marketing (MLM) schemes, raising concerns about investor protection. Despite extensive literature on MLM schemes and pyramid schemes, there remains a sig...
Crop insurance has to be priced and screened before the season’s main losses are known. This paper asks how far an insurer can get using only the information already available when a contract is enrolled: where the farm is, what crop and practi...
This study examines the relationship between climate policy uncertainty (CPU) and residential housing prices across U.S. metropolitan areas using the U.S. CPU index developed by Gavriilidis in 2021 and monthly S&P CoreLogic Case-Shiller Home Pric...
This study examined the determinants of intentions to participate in digital asset investment among Thai mutual fund investors with medium-to-high risk tolerance by extending the Theory of Planned Behavior (TPB) to include financial literacy and trus...
Risk-based approaches constitute the cornerstone of contemporary anti-money laundering (AML) regulatory frameworks, requiring institutions to conduct Business Risk Assessments (BRAs). While the customer risk assessment component is well-defined acros...
This study investigates the impact of jointly modeling jumps in asset prices and mortality rates on the valuation of insurance guarantees. Mortality dynamics are specified using two extended frameworks based on the classical Lee–Carter model, w...
Following the implementation of Basel IV, China’s financial regulators have replaced Value-at-Risk (VaR) with Expected Shortfall (ES) as the standard market risk measure, necessitating regulatory-oriented evaluation of ES forecasts. This study...
Standard asset pricing models treat price dynamics as a stochastic process driven by undifferentiated random noise, rendering them agnostic about the primary engine of price discovery: the arrival of economically significant information. This paper i...
This study investigates the effects of liquidity regulation, specifically the liquidity coverage ratio (LCR), on the capital structure of South African banks, with a focus on debt maturity composition. Using panel data covering the period 2015–...
Organizations are currently in a stage where the volume of financial transactions and data is constantly growing. The same goes for risks associated with the use of data for risk management and strategic decision-making. The likelihood of transaction...
This study examines the financial resilience of Hungarian local governments in the period 2020–2023, which was characterised by successive economic shocks caused by the COVID-19 pandemic and the Russian–Ukrainian war. Based on a panel dat...
The insurance industry is under increasing pressure to undergo digital transformation as global markets, customer demands, and regulatory requirements evolve. Despite this growing importance, the sector continues to face persistent obstacles that hin...
The interaction between crude oil prices and exchange rates is central to understanding global financial stability and macro-economic balances. Contrary to traditional static analyses, the heterogeneous market hypothesis argues that market participan...
This paper develops a deep reinforcement learning framework for cryptocurrency portfolio management in which transaction costs are derived from the Riemannian geometry of the underlying volatility model rather than assumed constant. A Proximal Policy...
Climate change poses significant challenges to the agricultural and financial sectors, affecting crop productivity and the overall financial stability. This study evaluates the robustness of the Actuaries Climate IndexTM (ACI), a relatively recent to...
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We introduce the Normalising Flow GARCH (NF-GARCH), a two-stage hybrid framework that enhances traditional GARCH models by replacing restrictive parametric innovation distributions with learned densities via normalising flows. Our approach preserves...
The present study provides a high-frequency empirical assessment of the financial performance, volatility, and market integration of thematic sustainability-oriented equity funds, focusing on clean energy and environmental innovation indices. Specifi...
In the context of behavioral finance, detecting credit card fraud remains a critical challenge, particularly when dealing with highly imbalanced datasets and ambiguous transaction patterns. This complexity highlights the limitations of traditional fr...
Using daily data from Investing.com South Africa, this study investigates the forecasting performance of four Rand currency rate markets (EUR/ZAR, CHF/ZAR, BRL/ZAR, and CNY/ZAR) from 13 February 2018 until 24 February 2025. The predictive fitness of...
