Journal of Risk and Financial Management, Volume 18, Issue 10

Over the past three decades, rising income inequality has undermined economic performance and posed challenges for policymakers, highlighting the need to identify its underlying drivers to design effective policy responses. Financial development is o...

The increasing complexity of energy systems amid the global push for decarbonization raises important questions about how transitions in the energy matrix affect financial risk in electricity markets. This study investigates the relationship between...

This study examines the early impact of Industry 4.0 (I4.0) implementation on the financial performance of Croatian companies, focusing on indicators of profitability, efficiency, and activity. The research investigates whether firms adopting I4.0 te...

This paper examines the impact of the COVID-19 pandemic on the volatility of the EUR/MRU and USD/MRU exchange rates using GARCH-type models. Symmetric GARCH(1,1) and asymmetric specifications—EGARCH and GJR-GARCH—are applied to capture po...

The Hurst parameter H plays a critical role in modeling long-memory behavior in financial time series, particularly within the framework of the fractional Black–Scholes model (fBSM). While the Method of Moments (MOM) provides a fast, closed-for...

The rise of fintech has disrupted traditional financial services, prompting banks and asset managers to respond strategically, often through mergers and acquisitions. This study investigates the short-term market reaction to M&A announcements inv...

This study examines the role of fintech adoption in enhancing financial inclusion in Qatar, with a particular focus on the mediating influence of access barriers. A structured questionnaire was administered to 220 respondents, of which 200 valid resp...

This study examines analyst forecast bias during the initial coverage of a firm using a sample of 631,660 firm-quarter analyst forecasts from 2007 to 2022. Estimating OLS regressions with firm, analyst, and time fixed effects, we find that analysts&r...

Accounting manipulation undermines the integrity of financial reporting and can distort key performance indicators, yet its quantitative effects on accounting quality (AQ) and value-related metrics remain underexplored. This study analyses U.S. publi...

As the urgency to address climate change intensifies, understanding the financial implications of corporate greenhouse gas (GHG) emission reduction has become critical. This study examines the relationship between emission reductions and corporate fi...

Purpose: This study examines how tone management in board reports influences corporate social responsibility (CSR) performance in emerging markets, focusing on the Tehran Stock Exchange. It addresses the underexplored qualitative aspects of CSR discl...

This study examines the financial behavior of university students in Economics, Business Administration, and Accounting in Tegucigalpa, Honduras, using the FB–13 instrument. Exploratory and confirmatory factor analyses validate a three-dimensio...

On Wednesday, 25 June 2025, the Federal Reserve voted to make changes to the Tier 1 Capital requirements for eight global systemically important banks. The changes include a cut to the enhanced supplementary leverage ratio (eSLR). The purpose of this...

This study determines the role of integrated reporting (Int_Re) in affecting firm value and investigates how CEO integrity (CEOI) moderates this effect among firms listed on the Indian stock exchange. The sample consists of 150 firms listed on the In...

Impact investing and sustainable finance are crucial in addressing social and environmental issues while developing a more resilient, equitable, and sustainable world. The purpose of this article is to analyze, synthesize, and evaluate the existing l...

This paper shows that a common form of external habit persistence, despite having much success in asset pricing, implies an extreme degree of conformity in investors’ portfolio choice. If an investor with this utility function uses US aggregate...

In the wake of the 2008–2009 Global Financial Crisis, the Federal Reserve began paying interest on reserves (IOR) on 1 October 2008—an intervention that, along with others, constituted a regime change for U.S. banks. In this study, we inv...

This study aims to investigate the impact of digital transformation on corporate tax avoidance. In fact, this revolution has pervasively affected firms in different aspects and represents a significant opportunity to modernize their internal processe...

The South African Value-Added Tax (VAT) Act exhibits an illogical structure for digital imports. The complexity of digital import taxation creates uncertainty and has an impact on compliance, resulting in tax avoidance and diminished tax revenues. Th...

Blockchain technology has become a game changer in sectors like accounting and auditing. Its usage is still restricted due to a lack of insight into what drives people to adopt it for financial services like accounting and auditing. This research del...

This study investigates the relationship between artificial intelligence (AI) adoption and environmental, social, and governance (ESG) performance among 100 listed Saudi Arabian firms over the period 2015–2024. Drawing on panel data regression...

This study analyzes the ESG (Environmental, Social, and Governance) reporting practices of Greek Real Estate Investment Companies (REICs). Our findings reveal significant variation in compliance levels. This can be attributed to loose regulations, co...

We refine a bottom-up, quantity-clearing framework of Bitcoin price formation that couples its fixed 21-million-coin cap with plausible demand growth and execution behavior. This approach relies on first-principles economic supply-and-demand dynamics...

In the contemporary structure of political economy, one of the leading actors is Non-Governmental Organisations (NGOs). Some of these organisations, to promote their goals, often engage in public disputes with enterprises that have publicly traded sh...

This paper examines how shifts in sustainable capital markets influence societal well-being through the lens of a “Jazz Economy”, highlighting improvisation and adaptability in financial systems while grounding the analysis in empirical m...

This study investigates the firm- and country-level determinants that influence the extent of financial disclosure under International Financial Reporting Standards (IFRS) in selected Latin American Organisation for Economic Co-operation and Developm...

This study investigates the causal impact of board governance structures on firm profitability. We develop the Board Structure Influence (BSI) index, a composite metric that captures board independence, diversity, and role distribution—which we...

This paper examines the high-frequency impact of tariff rhetoric on financial markets, a topic largely unexplored in existing literature. Unlike previous studies that focus on the long-term, macroeconomic effects of enacted trade policies, our resear...

Using a panel of 3515 Chinese listed firms from 2011 to 2023, this study shows that the education level of the top management team (TMT) positively influences firm stock liquidity. The beneficial effect of TMT education on stock liquidity is stronger...

This article aims to investigate the impact of sustainable assets on dynamic portfolio optimization under varying levels of investor risk aversion, particularly during turbulent market conditions. The analysis compares the performance of two portfoli...

Environmental sustainability reporting is increasingly adopted by firms, yet its actual impact on economic performance remains unclear, raising the question of whether such disclosures represent genuine strategic resources or merely symbolic practice...

This study aims to explore the intersection of Artificial Intelligence (AI), Environmental, Social, and Governance (ESG) factors, and Open Innovation (OI) within the context of mergers and acquisitions (M&A). As ESG considerations increasingly in...

Digital transformation has fundamentally altered how individuals manage their finances. The expansion of financial technologies and the digitalization of banking services underscore the need for digital financial literacy, defined as the ability to s...

This study examined the impact of organizational capital (OC) on the cost stickiness of Japanese firms and analyzed whether this effect varies with the magnitude of sales changes. Using 12,727 firm-year observations from Tokyo Stock Exchange-listed f...

Green banking is a significant financial strategy for balancing environmental sustainability with economic progress. Banks can help address Indonesia’s environmental concerns by promoting sustainable behavior, financing green projects, and impl...

This study is designed to investigate the dynamic risk transmission processes between clean energy ETFs and ESG indices in the BRICS countries—Brazil, India, China, and South Africa—while excluding Russia due to the lack of consistent dat...

The objective of this study is to examine the impact of Chief Executive Officer (CEO) attributes on corporate performance in Jordan, a representative frontier market. The analysis focuses on four key CEO attributes, comprising two socio-demographic v...

As governments increasingly explore digital financial instruments to diversify funding channels and expand citizen participation, Thailand’s G-Token represents an early attempt to integrate blockchain technology into sovereign debt issuance. Th...

This paper reviews the current research landscape on Personal Saving Behavior, focusing on its antecedents and outcomes. Using bibliographic analysis of publication trends—highlighting productive authors, journals, countries, and keywords&mdash...

It is an honor to serve as the Guest Editor for this Special Issue, “Financial Technology (Fintech) and Sustainable Financing [...]

This paper’s goal was to determine the state of green financing and reveal the main aspects of its regulation and influence on environmental risk management in the conditions of the growth of global uncertainty. Based on the sample that contain...

The prediction of stock prices is challenging due to their volatility, irregular patterns, and complex time-series structure. Reliably forecasting stock market data plays a crucial role in minimizing financial risk and optimizing investment strategie...

This article aims to create insights concerning the remuneration of executives (also known as vice chancellors (VCs)) in higher education in South Africa. Their remuneration is a trending and contentious topic in the media and literature within the S...

Statistical factor models are widely applied across various domains of the financial industry, including risk management, portfolio selection, and statistical arbitrage strategies. However, conventional factor models often rely on unrealistic assumpt...

In the context of rising uncertainty and financial crises, the roles of financial advisors are evolving beyond technical compliance, particularly in household contexts. This article introduces a novel perspective by highlighting how these professiona...

This study examines whether audit quality enhances the value relevance of earnings and book value of equity in explaining market prices of common shares in Thailand’s emerging market. Using data from 401 non-financial firms listed on the Stock...

In addition to the technological aspects of FinTech solutions, it is important to consider user willingness, particularly among the digitally savvy Generation Z. We conducted a survey in Hungary and Poland to gather information on young people’...

This study looks at the role of foreign finance in promoting the shift to renewable energy in the Developing-8 (D8) countries—Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey—between 2000 and 2023, with particul...

This study examines the moderating effect of bank capitalization on the relationship between economic freedom and banking performance, offering comparative evidence from both advanced and emerging economies. Using an unbalanced panel of 213 countries...

This study examines the dynamic relationship between the gold markets of India and the United States from 2005 to 2025. Recognising gold’s role as a hedge and safe-haven during market uncertainty, we employ the Autoregressive Distributed Lag (A...