Journal of Risk and Financial Management, Volume 17, Issue 2

In the current study, we sought to construct an integrated model to identify various elements and evaluate the impact of these identified factors on customers’ behavioral intention to use or not use specific M-wallets for payment. To this end,...

This study investigates the relationship between the real effective exchange rate (REER) and its volatility with the net inflow of foreign direct investment (FDI) to Canada, placing a novel emphasis on sector-level analysis. The study utilizes time s...

This study analyzes the term structures of sovereign quanto credit default swap (CDS) spreads and currency options, which are driven by anticipated currency depreciation risk following sovereign credit default (Twin Ds). We develop consistent pricing...

This study examines (1) how risk–payoff preference can be affected by differences in consideration of future consequences (CFC), prior gain/loss, and personal risk profile, and (2) whether one’s risk–payoff preference may vary with...

The rise in crime against a person in rapidly growing cities poses significant risks to societies and economies, affecting both microeconomic and macroeconomic aspects. This trend could potentially deter economic performance and domestic investment....

This study examines the impact of family ownership on tax avoidance decisions. This study further investigates the effects of corporate governance quality on the relationship between family ownership and tax avoidance. We construct a sample of non-fi...

This paper proposes a penalized Bayesian computational algorithm as an improvement to the LASSO approach for economic forecasting in multivariate time series. Methodologically, a weighted variable selection procedure is involved in handling high-dime...

In the wake of inflation, investors engage in identifying inflation hedging instruments. Most importantly, investors attempt to minimize risk and maximize returns to safeguard against inflation. Risk plays an important role in this process. The objec...

To adapt to the business environment, organisations adhere to management strategies capable of removing the effects of negative events, transforming themselves into resilient organisations. Physical and mental difficulties are the consequences of rec...

While well-established literature argues that realized variances are close to a lognormal distribution, this study follows Benoit Mandelbrot by taking a fractal perspective. Using power laws to model realized foreign exchange rate variances, our find...

An efficient and effective portfolio provides maximum return potential with minimum risk by choosing an optimal balance among assets. Therefore, the objective of this study is to analyze the performance of optimized portfolios in minimizing risk and...

We here analyze the factor loadings given by the CAPM, the Fama–French three (FF3), and the five-factor model (FF5), and test the performance and the validity of adding two more factors (volatility and dispersion of returns) to the FF5 factor m...

Classical double entry accounting has provided the foundation for accounting within the firm for many centuries. The digitally signed receipt, an innovation from financial cryptography, gives rise to exactly duplicated entries for each of 3 parties o...

This paper studies optimal consumption and investment strategies with lifetime uncertainty to design a smooth pension product. In a simplified Black–Scholes market, we investigate three strategies for consumption and investment: the classical s...

The growth of state transfers to offset disparities in regional development affects the stability of the country’s financial system. This article delves into this outcome, empirically analyzing whether the transfer system for horizontal fiscal...

The exercise of audit judgment is essential because it is impractical to perform an audit on all types of evidence. These types of evidence are considered in forming an opinion on audited financial statements, making audit judgment a determinant of t...

This paper delves into the evolving post-pandemic business arena, focusing on how liability options and social norms are reshaping industry structures. We anticipate lasting transformations due to the emergence of new safety standards that bridge the...

We show that three prominent consumption-based asset pricing models—the Bansal–Yaron, Campbell–Cochrane and Cecchetti–Lam–Mark models—cannot explain the dynamic properties of stock market returns. We show this by e...

Shadow prices simplify the derivation of optimal trading strategies in markets with transaction costs by transferring optimization into a more tractable, frictionless market. This paper establishes that a naïve shadow price ansatz for maximizing...

We aim to detect outliers in the daily stock price indices from the Saudi Arabia stock exchange (Tadawul) with 2026 observations from October 2011 to December 2019 provided by the Saudi Authority for Statistics and the Saudi Central Bank. We apply th...

This review aims to provide a comprehensive synthesis of the coverage of sustainability reporting (SR) aspects within the corpus of qualitative SR literature. It seeks to elucidate the theoretical and conceptual foundations that have guided the traje...

The Black–Scholes model and many of its extensions imply a log-normal distribution of stock total returns over any finite holding period. However, for a holding period of up to one year, empirical stock return distributions (both conditional an...

This study explores the role of digital financial inclusion in mitigating poverty and bolstering economic growth, with a special focus on developing nations during the COVID-19 era. Centering on Jordan, it seeks to identify key influencers of financi...

Financial decision making requires a sound handling of chance events. However, various studies have suggested that people are prone to illusion of control, i.e., the belief that prospects of a chancy event are better if they are involved in the rando...

The purpose of this study is to verify whether the transportation infrastructure investment carried out by the Asian Infrastructure Investment Bank (AIIB) has promoted the economic development of its recipient countries. Since the establishment of th...

Financial literacy is the ability of people to process economic information to make better financial decisions. Therefore, the financial literacy of entrepreneurs could affect the management of their companies and their results. The aim of this resea...

In an initial public offering (IPO) the firm can set the offer price of its shares, based on the valuation of the firm, by changing the number of shares. This study uses stock ownership records and hand-collected IPO data to analyze the offer prices,...

This research study aims to assess the impact of environmental accounting information disclosure on financial risk within the context of Vietnam’s stock market. The data collection process involved 60 non-financial companies, carefully selected...

The public sector has limited resources, and how these resources are allocated in expenditures and investments is crucial. Our article focuses on controlling this allocation for the Greek economy from 2000 to 2021, which includes the country’s...

Stock bubbles are characterized by unpredictable price surges and subsequent declines, causing significant losses for investors. This study investigates the effectiveness of the Generalized Sup Augmented Dickey–Fuller (GSADF) test in identifyin...

The advent of cryptocurrencies and blockchain technology has sparked a revolutionary shift in the financial sector. This study sets out on a wide-ranging investigation to understand the nuanced dynamics, repercussions, and potential future paths of t...

The study examines the return performance and resilience to market volatility of the recently introduced environment, social/sustainable, and governance (ESG) weight-tilted Hang Seng index compared to its parent, the Hang Seng index. The ESG-infused...

This paper deals with ensuring the sustainability of the financial system and combating hybrid threats in relation to anti-money laundering and counter-terrorist financing (AML/CTF) measures. International cooperation in the field of combating hybrid...

This paper empirically evaluates the impact of ownership structure on the cost of credit in US banks. It does so by comparing their grouped option-adjusted credit spreads on the outstanding debt issues. As the overall risk of the creditors is reflect...

This paper examines how the combination of artificial intelligence (AI) and blockchain technology can enable autonomous AI agents to engage and execute economic and financial transactions. We critically examine the constraints on AI agents in achievi...

This work aimed to examine the effect of corporate cash holdings on financial performance. The data covered 536 non-financial firms for the 2006–2020 period from 11 MENA region countries. This study used fixed- and random-effects testing models...

This study examines how automatic enrollment and employer contribution provisions relate to the retirement plan participation decisions of Millennials using data from the 2018 U.S. Financial Industry Regulatory Authority’s (FINRA) Millennial In...

Recent empirical literature has focused on the social aspect of gender-based violence regarding domestic violence and physical abuse while the implications of economic empowerment in an attempt to reduce gender-based violence remain under-researched....

An accurate prediction of loan default is crucial in credit risk evaluation. A slight deviation from true accuracy can often cause financial losses to lending institutes. This study describes the non-parametric approach that compares five different m...

In this in-depth study, we explored the nuanced dynamics of boardroom gender diversity and its consequential impact on sustainability reporting within the U.S. Healthcare sector. Leveraging a comprehensive dataset from Refinitiv Eikon, our analysis s...

Using a hand-collected sample of non-financial firms listed on the Pakistan Stock Exchange (PSX) over the period of 2011–2021, we examine the joint effect of intellectual capital and innovation on the financial vulnerability of a firm, which is...

The aim of this paper is to analyze the evolution of bank liquidity regulations, considering the global regulatory framework applicable to financial institutions, from the beginning of the banking and liquidity crisis in 2007–2008 to the presen...

The rising adoption of FinTech is changing the financial sector. However, the determinants of FinTech have not been examined thoroughly. The purpose of this paper is to examine whether corporate governance is related to FinTech products in the bankin...

Triple Entry Accounting (TEA) provides an opportunity for fundamental change in accounting. TEA is a foundational development of Blockchain technology, which is considered a pillar of the Fourth Industrial Revolution. Nevertheless, in order to augmen...

During the pandemic, the restaurant industry placed greater emphasis on corporate social responsibility (CSR) initiatives. However, there seems to be a dearth of comprehension regarding how customers’ perceived risks impacted their dining inten...

In option pricing, we often deal with options whose payoffs depend on multiple factors such as foreign exchange rates, stocks, etc. Usually, this leads to a knowledge of the joint distributions and complicated integration procedures. This paper devel...

The purpose of this study is to summarize the research results on corporate value published from 2000 to 2022; show the research overview, hot trends, and topic evolution of this research field; provide new ideas for the mining of the research fronti...