Articles
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Citation: Financial Innovation 2023 9:72
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A multidimensional review of the cash management problem
In this paper, we summarize and analyze the relevant research on the cash management problem appearing in the literature. First, we identify the main dimensions of the cash management problem. Next, we review ...
Citation: Financial Innovation 2023 9:67 -
Effects of ambiguity on innovation strategies
Technological innovations significantly influence individual firms and other innovations, such as financial innovations. The future of a firm depends on its innovation investment strategy. According to the lit...
Citation: Financial Innovation 2023 9:68 -
Online payment fraud: from anomaly detection to risk management
Online banking fraud occurs whenever a criminal can seize accounts and transfer funds from an individual’s online bank account. Successfully preventing this requires the detection of as many fraudsters as poss...
Citation: Financial Innovation 2023 9:66 -
Blockchain technology-based FinTech banking sector involvement using adaptive neuro-fuzzy-based K-nearest neighbors algorithm
The study aims to investigate the financial technology (FinTech) factors influencing Chinese banking performance. Financial expectations and global realities may be changed by FinTech’s multidimensional scope,...
Citation: Financial Innovation 2023 9:65 -
Is a correlation-based investment strategy beneficial for long-term international portfolio investors?
Using negative to low-correlated assets to manage short-term portfolio risk is not uncommon among investors, although the long-term benefits of this strategy remain unclear. This study examines the long-term b...
Citation: Financial Innovation 2023 9:64 -
The predictive power of Bitcoin prices for the realized volatility of US stock sector returns
This paper is motivated by Bitcoin’s rapid ascension into mainstream finance and recent evidence of a strong relationship between Bitcoin and US stock markets. It is also motivated by a lack of empirical studi...
Citation: Financial Innovation 2023 9:62 -
Fundamental and speculative components of the cryptocurrency pricing dynamics
The driving forces behind cryptoassets’ price dynamics are often perceived as being dominated by speculative factors and inherent bubble-bust episodes. Fundamental components are believed to have a weak, if an...
Citation: Financial Innovation 2023 9:61 -
Smart cities from low cost to expensive solutions under an optimal analysis
This scientific approach mainly aims to develop a smart city/smart community concept to objectively evaluate the progress of these organizational forms in relation to other classical/traditional forms of city ...
Citation: Financial Innovation 2023 9:60 -
Understanding the adoption context of China’s digital currency electronic payment
Central banks worldwide have started researching and developing central bank digital currencies (CBDCs). In the digital economy context, concerns regarding the integrity, competition, and privacy of CBDC syste...
Citation: Financial Innovation 2023 9:63 -
A model-free approach to do long-term volatility forecasting and its variants
Volatility forecasting is important in financial econometrics and is mainly based on the application of various GARCH-type models. However, it is difficult to choose a specific GARCH model that works uniformly...
Citation: Financial Innovation 2023 9:59 -
Adverse selection, loan access and default behavior in the Chilean consumer debt market
Why do households use different types of loans? Which factors cause borrowers to default? Using a comprehensive survey dataset from Chile, I estimate a partial information model of consumer debt access, lender...
Citation: Financial Innovation 2023 9:49 -
Management disclosure of risk factors and COVID-19
Public companies in the United States are required to file annual reports (i.e., Form 10-K) and disclose, among other things, the risk factors that may harm their stock price. The risk of a pandemic was well-k...
Citation: Financial Innovation 2023 9:53 -
The special issue: “Financial innovation for Emission Trading Scheme”
Citation: Financial Innovation 2023 9:58 -
Stock profiling using time–frequency-varying systematic risk measure
This study proposes a wavelets approach to estimating time–frequency-varying betas in the capital asset pricing model (CAPM) framework. The dynamic of systematic risk across time and frequency is analyzed to i...
Citation: Financial Innovation 2023 9:52 -
Did weekly economic index and volatility index impact US food sales during the first year of the pandemic?
We explore the impacts of economic and financial dislocations caused by COVID-19 pandemic shocks on food sales in the United States from January 2020 to January 2021. We use the US weekly economic index (WEI) to ...
Citation: Financial Innovation 2023 9:57 -
Correction: Nonlinear dynamics in Divisia monetary aggregates: an application of recurrence quantification analysis
Citation: Financial Innovation 2023 9:56 -
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
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- ISSN: 2199-4730 (electronic)