Business, Finance, and Economic Development

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074).

Deadline for manuscript submissions: 31 December 2024 | Viewed by 1696

Special Issue Editor

Special Issue Information

Dear Colleagues,

The business world is experiencing significant stress, change, and, in some industries, unparalleled growth. Much of the traditional understanding of business education and theory is being questioned, making it even more vital to understand what is happening. Economic certainty appears to be eroding, and established formulas appear to not be working, if not defunct. Whereas academics were historically preoccupied with large corporations, the role of SMEs is now being highlighted. The business environment has changed and will change even more in the coming years. Some traditionally robust markets have weakened while others have grown; cultural and geographical distances between people are shrinking; and innovation in all areas (technology, markets, finance, etc.) has become critical for long-term competitive advantage. The challenge of economic development is one that all nations face, and a remarkable diversity of projects are being implemented to serve as 'economic pump starters'. Whereas formerly established markets were solely interested in how other developed economies stimulated economic progress, there is now an increasing interest in how developing economies are providing fertile ground for inventive and frequently successful projects.

The International Conference on Business and Economic Development (ICBED) aspires to address a wide range of themes linked to business and economic development; consequently, submissions should interest management professors, practitioners, and researchers in developed and developing nations with a global readership.

This Special Issue will feature original research papers from the conference submissions that are accepted and presented but not published in the conference proceedings. The scope of this Special Issue is quite broad and invites interdisciplinary research papers on the relevant aspects of finance, financial institutions, the micro-econometrics theory, banking and finance, financial economics, macroeconomic parameters and growth, mathematical methods in economics and finance, and risk management and analysis, among other topics. These analyses should be challenging and at the forefront of current thinking. However, articles should be written in non-technical language so that people outside of the linked disciplines may understand them.

Dr. Palto Ranjan Datta
Guest Editor

Manuscript Submission Information

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Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • accounting and finance
  • financial accounting
  • financial institutions
  • international finance
  • financial markets
  • risk management
  • corporate finance
  • financial economics
  • banking

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Published Papers (1 paper)

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Research

21 pages, 3914 KiB  
Article
Asset Returns: Reimagining Generative ESG Indexes and Market Interconnectedness
by Gordon Dash, Nina Kajiji and Bruno G. Kamdem
J. Risk Financial Manag. 2024, 17(10), 463; https://doi.org/10.3390/jrfm17100463 - 13 Oct 2024
Viewed by 747
Abstract
Financial economists have long studied factors related to risk premiums, pricing biases, and diversification impediments. This study examines the relationship between a firm’s commitment to environmental, social, and governance principles (ESGs) and asset market returns. We incorporate an algorithmic protocol to identify three [...] Read more.
Financial economists have long studied factors related to risk premiums, pricing biases, and diversification impediments. This study examines the relationship between a firm’s commitment to environmental, social, and governance principles (ESGs) and asset market returns. We incorporate an algorithmic protocol to identify three nonobservable but pervasive E, S, and G time-series factors to meet the study’s objectives. The novel factors were tested for information content by constructing a six-factor Fama and French model following the imposition of the isolation and disentanglement algorithm. Realizing that nonlinear relationships characterize models incorporating both observable and nonobservable factors, the Fama and French model statement was estimated using an enhanced shallow-learning neural network. Finally, as a post hoc measure, we integrated explainable AI (XAI) to simplify the machine learning outputs. Our study extends the literature on the disentanglement of investment factors across two dimensions. We first identify new time-series-based E, S, and G factors. Second, we demonstrate how machine learning can be used to model asset returns, considering the complex interconnectedness of sustainability factors. Our approach is further supported by comparing neural-network-estimated E, S, and G weights with London Stock Exchange ESG ratings. Full article
(This article belongs to the Special Issue Business, Finance, and Economic Development)
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