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Citation: Financial Innovation 2023 9:56
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Market capitalization shock effects on open innovation models in e-commerce: golden cut q-rung orthopair fuzzy multicriteria decision-making analysis
This research paper analyzes revenue trends in e-commerce, a sector with an annual sales volume of more than 340 billion dollars. The article evaluates, despite a scarcity of data, the effects on e-commerce de...
Citation: Financial Innovation 2023 9:55 -
Extreme dependencies and spillovers between gold and stock markets: evidence from MENA countries
This study addresses whether gold exhibits the function of a hedge or safe haven as often referred to in academia. It contributes to the existing literature by (i) revisiting this question for the principal st...
Citation: Financial Innovation 2023 9:47 -
A novel stochastic modeling framework for coal production and logistics through options pricing analysis
We propose a novel stochastic modeling framework for coal production and logistics using option pricing theory. The problem of valuing the inherent real optionality a coal producer has when mining and processi...
Citation: Financial Innovation 2023 9:54 -
Revisiting the nexus between fiscal decentralization and CO2 emissions in South Africa: fresh policy insights
The argument over fiscal decentralization and carbon dioxide emission (CO2) reduction has received much attention. However, evidence to back this claim is limited. Economic theory predicts that fiscal decentraliz...
Citation: Financial Innovation 2023 9:50 -
Effect of blockchain technology initiatives on firms’ market value
Despite blockchain’s potential to transform corporations by providing new ways of organizing business processes and handling information, extant research pays inadequate attention to how and under what conditi...
Citation: Financial Innovation 2023 9:48 -
Strategic interaction between institutional investors and supervision department: a theoretical analysis of low-price collusion in SBIC
We introduce evolutionary game method to analyze low-price collusion in inquiry market of Sci-Tech Innovation Board of China (SIBC) from the perspective of strategic interaction between large institutional inv...
Citation: Financial Innovation 2023 9:51 -
Cryptocurrency technology revolution: are Bitcoin prices and terrorist attacks related?
As a financial innovation of the information age, cryptocurrency is a complex concept with clear advantages and disadvantages and is worthy of discussion. Exploring from a terrorism perspective, this study use...
Citation: Financial Innovation 2023 9:29 -
Currencies of greater interest for central Asian economies: an analysis of exchange market pressure amid global and regional interdependence
Central Asian Economies (CAEs) have diverse exchange rate policies. They have recorded higher volatility in the foreign exchange market since inception. High volatility of the transition era has drifted these ...
Citation: Financial Innovation 2023 9:46 -
Empirical evidence on the ownership and liquidity of real estate tokens
To better understand the potential and limitations of the tokenization of real asset markets, empirical studies need to examine this radically new organization of financial markets. In our study, we examine th...
Citation: Financial Innovation 2023 9:45 -
A modified EDAS model for comparison of mobile wallet service providers in India
The present paper has two-fold purposes. First, the current work provides an integrated theoretical framework to compare popular mobile wallet service providers based on users' views in the Indian context. To ...
Citation: Financial Innovation 2023 9:41 -
The transaction behavior of cryptocurrency and electricity consumption
Rapidly increasing cryptocurrency prices have encouraged cryptocurrency miners to participate in cryptocurrency production, increasing network hashrates and electricity consumption. Growth in network hashrates...
Citation: Financial Innovation 2023 9:44 -
Size matters: analyzing bank profitability and efficiency under the Basel III framework
The latest regulatory framework, which has been introduced globally in the form of Basel III, and its implementation in the legislation of the member states of the European Union has generated much interest in...
Citation: Financial Innovation 2023 9:43 -
Which return regime induces overconfidence behavior? Artificial intelligence and a nonlinear approach
Overconfidence behavior, one form of positive illusion, has drawn considerable attention throughout history because it is viewed as the main reason for many crises. Investors’ overconfidence, which can be obse...
Citation: Financial Innovation 2023 9:30 -
The effect of overseas investors on local market efficiency: evidence from the Shanghai/Shenzhen–Hong Kong Stock Connect
Using a recent stock market liberalization reform policy in China—the Stock Connect—as a quasi-natural experiment, this study examines the effect of stock market liberalization on market efficiency. Employing ...
Citation: Financial Innovation 2023 9:42 -
Industry return lead-lag relationships between the US and other major countries
In this study, we analyze the lead-lag relationships between the US industry index and those of six other major countries from January 1973 to May 2021. We identify the leading role played by the US internatio...
Citation: Financial Innovation 2023 9:40 -
Novel modelling strategies for high-frequency stock trading data
Full electronic automation in stock exchanges has recently become popular, generating high-frequency intraday data and motivating the development of near real-time price forecasting methods. Machine learning a...
Citation: Financial Innovation 2023 9:39 -
The linkage between Bitcoin and foreign exchanges in developed and emerging markets
This study investigates the connectedness between Bitcoin and fiat currencies in two groups of countries: the developed G7 and the emerging BRICS. The methodology adopts the regular (R)-vine copula and compare...
Citation: Financial Innovation 2023 9:38 -
The method of residual-based bootstrap averaging of the forecast ensemble
This paper presents an optimization approach—residual-based bootstrap averaging (RBBA)—for different types of forecast ensembles. Unlike traditional residual-mean-square-error-based ensemble forecast averaging...
Citation: Financial Innovation 2023 9:37 -
Data envelopment analysis for scale elasticity measurement in the stochastic case: with an application to Indian banking
In the nonparametric data envelopment analysis literature, scale elasticity is evaluated in two alternative ways: using either the technical efficiency model or the cost efficiency model. This evaluation becom...
Citation: Financial Innovation 2023 9:31 -
Predicting Fintech Innovation Adoption: the Mediator Role of Social Norms and Attitudes
Digital innovation is challenging the traditional way of offering financial services to companies; the so-called Fintech phenomenon refers to startups that use the latest technologies to offer innovative finan...
Citation: Financial Innovation 2023 9:36 -
Weighted-indexed semi-Markov model: calibration and application to financial modeling
We address the calibration issues of the weighted-indexed semi-Markov chain (WISMC) model applied to high-frequency financial data. Specifically, we propose to automate the discretization of the price returns ...
Citation: Financial Innovation 2023 9:35 -
Probability of informed trading during the COVID-19 pandemic: the case of the Romanian stock market
Using data from the Bucharest Stock Exchange, we examine the factors influencing the probability of informed trading (PIN) during February—October 2020, a COVID-19 pandemic period. Based on an unconditional qu...
Citation: Financial Innovation 2023 9:34 -
Asymmetric nexus between commercial policies and consumption-based carbon emissions: new evidence from Pakistan
The current study extends the previous literature by exploring the effects of a newly discovered driver, i.e., import taxes (as a proxy for commercial policies), on the consumption-based carbon emissions (CCO2...
Citation: Financial Innovation 2023 9:33 -
Investigating the components of fintech ecosystem for distributed energy investments with an integrated quantum spherical decision support system
This study aimed to evaluate the components of a fintech ecosystem for distributed energy investments. A new decision-making model was created using multiple stepwise weight assessment ratio analysis and elimi...
Citation: Financial Innovation 2023 9:27 -
Online risk-based portfolio allocation on subsets of crypto assets applying a prototype-based clustering algorithm
Mean-variance portfolio optimization models are sensitive to uncertainty in risk-return estimates, which may result in poor out-of-sample performance. In particular, the estimates may suffer when the number of...
Citation: Financial Innovation 2023 9:25 -
Non-fungible tokens: a bubble or the end of an era of intellectual property rights
The viability of exponentially growing non-fungible token (NFT) market is evaluated by identifying potential value-generating mechanisms that can be rationalized. After identifying the value-generating mechani...
Citation: Financial Innovation 2023 9:32 -
Gazing through the bubble: an experimental investigation into financial risk-taking using eye-tracking
Eye tracking can facilitate understanding irrational decision-making in contexts such as financial risk-taking. For this purpose, we develop an experimental framework in which participants trade a risky asset ...
Citation: Financial Innovation 2023 9:28 -
Exploring the asymmetric effect of COVID-19 pandemic news on the cryptocurrency market: evidence from nonlinear autoregressive distributed lag approach and frequency domain causality
This paper explores the asymmetric effect of COVID-19 pandemic news, as measured by the coronavirus indices (Panic, Hype, Fake News, Sentiment, Infodemic, and Media Coverage), on the cryptocurrency market. Usi...
Citation: Financial Innovation 2023 9:21 -
Survey of feature selection and extraction techniques for stock market prediction
In stock market forecasting, the identification of critical features that affect the performance of machine learning (ML) models is crucial to achieve accurate stock price predictions. Several review papers in...
Citation: Financial Innovation 2023 9:26 -
Do U.S. economic conditions at the state level predict the realized volatility of oil-price returns? A quantile machine-learning approach
Because the U.S. is a major player in the international oil market, it is interesting to study whether aggregate and state-level economic conditions can predict the subsequent realized volatility of oil price ...
Citation: Financial Innovation 2023 9:24 -
Toward a sustainable growth path in Arab economies: an extension of classical growth model
Many economies are on the trajectory of alternative growth drivers other than conventional capital and labor. Access to credit facilities is a pertinent indicator of economic growth. In line with the United Na...
Citation: Financial Innovation 2023 9:20 -
Foreign exchange trading and management with the stochastic dual dynamic programming method
We present a novel tool for generating speculative and hedging foreign exchange (FX) trading policies. Our solution provides a schedule that determines trades in each rebalancing period based on future currenc...
Citation: Financial Innovation 2023 9:23 -
Tax avoidance and earnings management: a neural network approach for the largest European economies
In this study, we investigate the relationship between tax avoidance and earnings management in the largest five European Union economies by using artificial neural network regressions. This methodology allows...
Citation: Financial Innovation 2023 9:19 -
Is pass-through of the exchange rate to restaurant and hotel prices asymmetric in the US? Role of monetary policy uncertainty
This study examines the exchange rate pass-through to the United States (US) restaurant and hotel prices by incorporating the effect of monetary policy uncertainty over the period 2001:M12 to 2019:M01. Using ...
Citation: Financial Innovation 2023 9:18 -
Markets in crypto-assets regulation: Does it provide legal certainty and increase adoption of crypto-assets?
This study discusses the European Union’s proposal for a Regulation on Markets in Crypto-Assets, now subject to formal approval by the European Parliament. The objective is to explore whether it will positivel...
Citation: Financial Innovation 2023 9:22 -
A socioeconomic approach to the profile of microcredit holders from the Hispanic minority in the USA
The subject of this study is the microcredit market in the USA, more specifically in Florida. The justification for choosing this specific state is the massive presence of the Hispanic population. This will fa...
Citation: Financial Innovation 2023 9:17 -
Nonlinear dynamics in Divisia monetary aggregates: an application of recurrence quantification analysis
We construct recurrence plots (RPs) and conduct recurrence quantification analysis (RQA) to investigate the dynamic properties of the new Center for Financial Stability (CFS) Divisia monetary aggregates for th...
Citation: Financial Innovation 2023 9:16 -
Dynamic spatiotemporal correlation coefficient based on adaptive weight
Risk management is an important aspect of financial research because correlations among financial data are essential in evaluating portfolio risk. Among various correlations, spatiotemporal correlations involv...
Citation: Financial Innovation 2023 9:14 -
Are life insurance futures a safe haven during COVID-19?
This study aims to examine whether life insurance futures can serve as a hedge against the COVID-19 pandemic and whether they have the characteristics of a safe haven under the impact of the health shocks of t...
Citation: Financial Innovation 2023 9:13 -
The influence of CEO’s financial literacy on SMEs technological innovation: the mediating effects of MCS and risk-taking
Previous literature showed mixed results about the impact of CEOs’ financial literacy (CFL) on small and medium-sized enterprises’ (SMEs) innovation. This relationship can be motivated by relevant variables, w...
Citation: Financial Innovation 2023 9:15 -
Optimal reduction and equilibrium carbon allowance price for the thermal power industry under China’s peak carbon emissions target
As the largest source of carbon emissions in China, the thermal power industry is the only emission-controlled industry in the first national carbon market compliance cycle. Its conversion to clean-energy gene...
Citation: Financial Innovation 2023 9:12 -
A hybrid decision support system with golden cut and bipolar q-ROFSs for evaluating the risk-based strategic priorities of fintech lending for clean energy projects
In the last decade, the risk evaluation and the investment decision are among the most prominent issues of efficient project management. Especially, the innovative financial sources could have some specific ri...
Citation: Financial Innovation 2023 9:10 -
The nature and sources of international variation in formal institutions related to initial coin offerings: preliminary findings and a research agenda
As prior researchers have suggested, a firm’s success in an international market depends on how well its strategy fits the nonmarket environment, such as formal institutions. This paper examines the determinan...
Citation: Financial Innovation 2023 9:9 -
COVID-19 and tourism sector stock price in Spain: medium-term relationship through dynamic regression models
The global pandemic, coronavirus disease 2019 (COVID-19), has significantly affected tourism, especially in Spain, as it was among the first countries to be affected by the pandemic and is among the world’s bi...
Citation: Financial Innovation 2023 9:8 -
Asymmetric relationship between global and national factors and domestic food prices: evidence from Turkey with novel nonlinear approaches
This study investigates the asymmetric relationship between global and national factors and domestic food prices in Turkey, considering the recent rapid and continuous increase in domestic food prices. In this...
Citation: Financial Innovation 2023 9:11 -
Research on interaction of innovation spillovers in the AI, Fin-Tech, and IoT industries: considering structural changes accelerated by COVID-19
This paper aims to probe the influence of innovation spillovers in the artificial intelligence (AI) and financial technology (Fin-tech) industries on the value of the internet of things (IoT) companies. Python...
Citation: Financial Innovation 2023 9:7 -
Analysis of financial development and open innovation oriented fintech potential for emerging economies using an integrated decision-making approach of MF-X-DMA and golden cut bipolar q-ROFSs
The purpose of the paper is to identify the factors of financial development that have the greatest impact on open innovation in 7 emerging countries. The analysis was performed featuring the MF-X-DMA method, ...
Citation: Financial Innovation 2023 9:4 -
Trade credit financing for supply chain coordination under financial challenges: a multi-leader–follower game approach
This study is designed to solve supply chain inefficiencies caused by some members' financial problems, such as capital shortages and financing restrictions in a stochastic environment. To this end, we have es...
Citation: Financial Innovation 2023 9:6 -
Exploring the moderating role of financial development in environmental Kuznets curve for South Africa: fresh evidence from the novel dynamic ARDL simulations approach
The extant literature has produced mixed evidence on the relationship between financial development and ecological sustainability. This work addresses this conundrum by investigating financial development’s di...
Citation: Financial Innovation 2023 9:5
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- ISSN: 2199-4730 (electronic)