Exchange Rate Volatility and Cross-Border Corporate Financial Stability

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Financial Markets".

Deadline for manuscript submissions: 30 April 2026 | Viewed by 471

Special Issue Editors


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Guest Editor
School of Business, Regent College London, London NW1 4NS, UK
Interests: financial markets; financial institutions; financial stability; monetary policy; financial economics; financial systems; macroeconomics; finance

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Guest Editor
Essex Business School, University of Essex, Colchester CO4 3SQ, UK
Interests: sustainability; financial economics; international accounting; finance

Special Issue Information

Dear Colleagues,

This Special Issue of Risk and Financial Management, entitled “Exchange Rate Volatility and Cross-Border Corporate Financial Stability”, seeks to advance the understanding of how currency fluctuations influence the financial resilience, risk exposure, and strategic decisions of firms engaged in cross-border operations. Exchange rate volatility can affect revenue streams, cost structures, investment decisions, debt servicing, and overall market valuation, particularly for multinational corporations, exporters, and import-dependent firms.

We invite high-quality theoretical, empirical, and policy-oriented studies that explore the mechanisms through which exchange rate risks impact corporate financial stability, the role of hedging and risk management strategies, and the effectiveness of monetary, fiscal, and regulatory interventions. Researchers are encouraged to focus on advanced, emerging, and developing economies—especially comparative and region-specific analyses.

Topics of interest include, but are not limited to, exchange rate pass-through effects, currency risk and capital structure, derivatives and hedging effectiveness, financial distress prediction under exchange rate volatility, and sectoral resilience to currency shocks. Studies employing innovative methodologies, firm-level datasets, or interdisciplinary approaches bridging finance, economics, and international business are of particular interest.

This Special Issue aims to provide actionable insights for policymakers, corporate managers, investors, and scholars navigating the challenges of volatile currency environments.

Dr. Olajide Oyadeyi
Dr. Babajide Oyewo
Guest Editors

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Keywords

  • exchange rate volatility
  • corporate financial stability
  • currency risk
  • cross-border corporations
  • multinational corporations
  • hedging strategies
  • risk management
  • capital structure
  • exchange rate pass-through
  • financial distress prediction
  • derivatives
  • sectoral resilience
  • currency shocks
  • international business
  • emerging markets
  • comparative analysis
  • policy interventions
  • monetary policy
  • fiscal policy
  • firm-level analysis

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Published Papers (1 paper)

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Research

21 pages, 479 KB  
Article
AI-Driven Business Model Innovation and TRIAD-AI in South Asian SMEs: Comparative Insights and Implications
by Md Mizanur Rahman
J. Risk Financial Manag. 2025, 18(12), 709; https://doi.org/10.3390/jrfm18120709 - 12 Dec 2025
Abstract
Artificial Intelligence (AI) is a transformational force reshaping business processes, financial decision-making, and enabling firms to create, deliver and capture value more effectively. While large corporations in South Asian countries, particularly Bangladesh, India, Pakistan and Sri Lanka have started leveraging AI to drive [...] Read more.
Artificial Intelligence (AI) is a transformational force reshaping business processes, financial decision-making, and enabling firms to create, deliver and capture value more effectively. While large corporations in South Asian countries, particularly Bangladesh, India, Pakistan and Sri Lanka have started leveraging AI to drive Business Model Innovation (BMI), Small and Medium Enterprises (SMEs) continue to face significant challenges. These include limited infrastructure, poor bandwidth penetration, unreliable electricity, weak institutional capacity and governance immaturity, along with ethics and compliance concerns. These challenges hinder SMEs from fully exploiting AI-driven BMI and reduce their financial resilience and competitiveness in increasingly digital and globalised markets. This paper examines how South Asian countries are adopting AI technologies in SMEs by comparing patterns and variations in adoption, capability, ethics, risks, compliance, and financial outcomes. The paper proposes a tailored, actionable framework, called TRIAD (Target, Restructure, Integrate, Accelerate, and Democratise)-AI, designed to address technical, organisational and institutional challenges that shape AI-driven BMI across South Asian SMEs and to meet regional and global SME needs. The framework integrates the best practices from global AI leaders such as China, Estonia and Singapore, emphasising responsible AI adoption through robust ethics and compliance standards, and risk management, and offering practical guidance for South Asian SMEs. By adopting this framework, South Asian countries can gain a competitive advantage, enhance operational efficiency, support GDP growth across the region and ensure adherence to all relevant international AI standards for responsible, sustainable, and financially sound innovation. Full article
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