Journal of Risk and Financial Management, Volume 16, Issue 8

Regulations related to the disclosure of environmental, governance, and social (ESG) factors are evolving rapidly and are a major concern for financial compliance worldwide. Information technology has the potential to reduce the effort and cost of ES...

The purpose of this paper is to study the generalized method of moments (GMM) estimation procedures of the realized stochastic volatility model; we give the moment conditions for this model and then obtain the estimation of parameters. Then, we apply...

This paper contributes to the advancement of noise trader theory by examining the connection between aggregate news sentiment and stock market returns during days of significant stock market movement. In contrast to previous studies that solely focus...

This study delves into the impact of tax collection behavior on tax compliance among individual taxpayers in Indonesia, with a specific focus on two distinct behaviors: respectful treatment and authoritarian procedures. The research employs a cross-s...

This study analyzes the impact of adopting International Financial Reporting Standards (IFRS) on the cost of equity capital for firms listed on STOXX Europe 600 using a sample of 9773 firm-year observations between 1994 and 2022. We estimate the cost...

Modern technologies require the need to analyze the opportunities for improving the integration of digital technologies in CSR activities in the context of added values between business and science in perspective, including the future digital society...

The benefits, opportunities, costs, and risks (BOCR) model is a multiple-criteria decision-making (MCDM) model used to elicit a mutually exclusive and collectively exhaustive set of criteria. As an acronym proposed in the theory of the analytic hiera...

This paper conducts an analysis of the impact of COVID-19 and digital transformation (DT) on the financial performance of European listed companies. Using a panel data regression model from 2015 to 2021, the study analyzed the financial performance o...

Russia is taking the first steps in the formation of an emissions trading system. In this article, we studied the impact of carbon risk on Russian stock returns. We link carbon risk to CO₂ emissions and air protection costs. We suggest that carbon fi...

Bound choices such as portfolio choices are studied in an aggregate fashion using an extension of the notion of barycenter of masses. This paper answers the question of whether such an extension is a natural fashion of studying bound choices or not....

This article is a synthetic, brief review of the literature, reports and references on the transformation of the automotive industry into zero-emission cars, in particular electric cars. It analyzes the technological and economic aspects of changes i...

In this study, we investigated some extensions of the classical portfolio theory and try to evaluate them in a situation of crisis. We studied some additional criteria for portfolio selection, based on market multiples representing the overall situat...

The firm’s valuation (FV) is the key element for all stakeholders, particularly the investors, for their investment decisions. The main impetus of this research is to estimate the effects of the debt ratio (DR, i.e., leverage) on the FV (i.e.,...

The contemporary environment is interrelated, and interactions between markets, countries, and international actors at different levels exist in every corner of the globe. Amid this, the failures of the free-market system have paved the way for insti...

The perception, adoption, use and satisfaction regarding Internet banking in Mexico have been scarcely explored. This research contributes to the limited literature on Internet banking in Mexico. Its objective is to analyze the perception that a popu...

This paper investigates the impact of flood management policies on airport investment and the resulting financial constraints. Specifically, it examines the effects of flood insurance, building codes, and public adaptation investment on the investmen...

This article explores the interactive effect of advertising investment and corporate social responsibility (CSR) on financial performance by selecting 2431 listed companies that participated in the professional evaluation of Hexun.com as the research...

This article presents a bibliometric study on different types of risk and bankruptcy, aiming to contribute to academic knowledge in this area. We used the bibliometrix tools in R and VOSviewer, following the main laws of bibliometrics (Bradford&rsquo...

Blockchain technology, initially known for its applications in the financial industry, has emerged as a promising solution for various other domains. One prominent area for the use of blockchain-based solutions is forensics, specifically the chain of...

We examine how firms manage their foreign exchange (FX) exposure using publicly reported data on FX exposure before and after hedging with corresponding hedging instruments. Based on calculated firm-, year-, and currency-specific hedge ratios, we fin...

While disclosing financial information has been widely proved to reduce the financing cost of a company, the impact of non-financial information, such as sustainability information, disclosing on the financing cost of the company is still in debate....

This paper examines the implications of imperfect competition in a two-country framework where a single good is produced. Using an overlapping generation model, we analyze the effects of market structures. Specifically, one country is assumed to oper...

This paper re-examines the presence of the Sharpe–Treynor–Lintner–Mossin capital asset pricing model (CAPM) in the finance literature and is accompanied by a bibliometric summary analysis. The popular model is in its sixth decade; w...

In the burgeoning field of bitcoin research, a cohesive understanding of how knowledge and insights have evolved over time is lacking. This study aims to address this gap through an exploration of 4123 academic articles pertaining to bitcoin. Utilizi...

This study examines Cambodian farmers’ demand for weather index insurance (WII), an innovative financial product, for managing climate change-related risks. Rice and cassava farmers in Battambang Province of Cambodia were interviewed to underst...

This study examines the influence of culture on corporate responses to climate change. Given the inherent uncertainty associated with climate change, cultural values, as a non-market force, are expected to impact corporate’s decision making reg...

This paper delves into the dynamics of asset pricing within Bachelier’s market model (BMM), elucidating the representation of risky asset price dynamics and the definition of riskless assets. It highlights the fundamental differences between BMM and...

Sustainable development is a subject of study and consideration by scientists and policymakers, especially the sustainable development of the night-time economy. The night-time economy refers to the various economic activities and businesses that pri...

The recent literature provides conflicting findings and remains inconclusive regarding the impact of the COVID-19 crisis on firms’ dividend policies. In this paper, we examine the dividend policy of Moroccan firms listed in the Casablanca Stock...

This study investigates the anchoring bias and disposition effect in investor trading decisions under different market volatility conditions (stable and volatile markets) and examines their impact on portfolio performance. Employing a quasi-experimen...

In 2018, Cuthbert proved that any transaction vector can be uniquely partitioned into a sequence of pure investments with strictly decreasing internal rates of return (IRRs). In a subsequent paper, Cuthbert used the partitioning theorem to derive a n...

This paper examines the performance of actively managed portfolios constructed using target price recommendations provided by analysts. We propose two methods for constructing portfolios based on Bloomberg’s 12-month target price consensus, whi...

In the digital era, new financial technologies and big data are accelerating the development of financial transactions. With the rise of e-commerce transactions, the financial industry has come to recognize that banking as a service can be seamlessly...

In the circumstances of increasing forms of corporate reporting, the relevance of the financial information is slightly decreasing, as the reporting strategies do not provide evidence of the potential deterioration of reported earnings, but rather tr...