Articles
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Citation: Financial Innovation 2020 6:27
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Encoding candlesticks as images for pattern classification using convolutional neural networks
Candlestick charts display the high, low, opening, and closing prices in a specific period. Candlestick patterns emerge because human actions and reactions are patterned and continuously replicate. These patte...
Citation: Financial Innovation 2020 6:26 -
Portfolio optimization of credit risky bonds: a semi-Markov process approach
This article presents a semi-Markov process based approach to optimally select a portfolio consisting of credit risky bonds. The criteria to optimize the credit portfolio is based on l∞-norm risk measure and the ...
Citation: Financial Innovation 2020 6:25 -
Investigating liquidity constraints as a channel of contagion: a regime switching approach
The present study investigates the timing and repercussion of the subprime crisis of 2008–09 in a regime-switching model. The interdependence and co-movement of financial markets in different countries has bee...
Citation: Financial Innovation 2020 6:24 -
Testing the governance-performance relationship for the Tunisian banks: a GMM in system analysis
This study aims to contribute to settling the lack of consensus regarding the determinants of bank performance, not only by considering bank governance, but also by including factors such as CEO compensation a...
Citation: Financial Innovation 2020 6:23 -
Evaluating the exchange rate and commodity price nexus in Malaysia: evidence from the threshold cointegration approach
This paper examines the long- and short-run dynamics of asymmetric adjustment between the nominal exchange rate and commodity prices, namely oil, palm oil, rubber, and natural gas prices, in Malaysia using mon...
Citation: Financial Innovation 2020 6:22 -
Bitcoin pricing: impact of attractiveness variables
The research seeks to contribute to Bitcoin pricing analysis based on the dynamics between variables of attractiveness and the value of the digital currency. Using the error correction model, the relationship ...
Citation: Financial Innovation 2020 6:21 -
Editor’s introduction
Citation: Financial Innovation 2020 6:20 -
Correction to: Does the EVA valuation model explain the market value of equity better under changing required return than constant required return?
After publication of this article [1], it is reported this article contained an error in the section ‘Risk-free return (rf)’
Citation: Financial Innovation 2020 6:19 -
On the volatility of daily stock returns of Total Nigeria Plc: evidence from GARCH models, value-at-risk and backtesting
This study investigates the volatility in daily stock returns for Total Nigeria Plc using nine variants of GARCH models: sGARCH, girGARCH, eGARCH, iGARCH, aGARCH, TGARCH, NGARCH, NAGARCH, and AVGARCH along wit...
Citation: Financial Innovation 2020 6:18 -
Portfolio selection: a fuzzy-ANP approach
This study developed specific criteria and a fuzzy analytic network process (FANP) to assess and select portfolios on the Tehran Stock Exchange (TSE). Although the portfolio selection problem has been widely i...
Citation: Financial Innovation 2020 6:17 -
Extreme learning with chemical reaction optimization for stock volatility prediction
Extreme learning machine (ELM) allows for fast learning and better generalization performance than conventional gradient-based learning. However, the possible inclusion of non-optimal weight and bias due to ra...
Citation: Financial Innovation 2020 6:16 -
Impact of petroleum and non-petroleum indices on financial development in Oman
This study analyzes the impact of petroleum and non-petroleum indices on the financial development of the Sultanate of Oman from 1978 to 2017. To this end, it uses the petroleum proxy of oil rents (% of gross ...
Citation: Financial Innovation 2020 6:15 -
Fighting African capital flight: trajectories, dynamics, and tendencies
This study provides a harmonization framework for common capital flight policies in Africa. It builds on evidence of persistent extreme poverty in the continent to assess how common measures can be adopted by ...
Citation: Financial Innovation 2020 6:14 -
Predicting changes in Bitcoin price using grey system theory
Bitcoin is currently the leading global provider of cryptocurrency. Cryptocurrency allows users to safely and anonymously use the Internet to perform digital currency transfers and storage. In recent years, th...
Citation: Financial Innovation 2020 6:13 -
Development of E-banking channels and market share in developing countries
There is fierce global competition within the banking industry. Therefore, banks endeavor to grow and strive to increase their market share. We analyzed the effect of developing innovative channels of presenti...
Citation: Financial Innovation 2020 6:12 -
Distributed ledger technology for securities clearing and settlement: benefits, risks, and regulatory implications
This article outlines the benefits and risks of the distributed ledger technology (DLT) for the clearing and settlement of exchange-traded and OTC securities, followed by a description of the technology’s pote...
Citation: Financial Innovation 2020 6:11 -
Nexus between foreign direct investment and economic growth in Bangladesh: an augmented autoregressive distributed lag bounds testing approach
The relationship between foreign direct investment (FDI) inflows and economic growth in host countries is a heavily debated issue. Although some studies have found evidence of the positive impact of FDI on eco...
Citation: Financial Innovation 2020 6:10 -
Does the EVA valuation model explain the market value of equity better under changing required return than constant required return?
Through the Economic-Value-Added (EVA) valuation model, the expected market value of equity can be determined by adding the book value of equity with the present value of expected EVAs under the assumption of ...
Citation: Financial Innovation 2020 6:9 -
Editor’s introduction
Citation: Financial Innovation 2020 6:8 -
Privacy-preserving analytics for the securitization market: a zero-knowledge distributed ledger technology application
A zero-knowledge proof or protocol is a cryptographic technique for verifying private data without revealing it in its clear form. In this paper, we evaluate the potential for zero-knowledge distributed ledger...
Citation: Financial Innovation 2020 6:7 -
Overall profit Malmquist productivity index under data uncertainty
The calculation of the overall profit Malmquist productivity index (MPI) requires precise and accurate information on the input, output, input-output prices of each decision making unit (DMU). However, in many...
Citation: Financial Innovation 2020 6:6 -
Effect of regional factor productivity on manufacturing sector: The case of Sino-Pak economic ties
Economic ties and trade blocs increase the flow of trade between participating countries and lead to different levels of economic and structural changes.
Citation: Financial Innovation 2020 6:5 -
Tail dependence in emerging ASEAN-6 equity markets: empirical evidence from quantitative approaches
This study contributes a rich set of quantitative methodologies including a non-parametric approach (Chi-plots and K-plots) as well as copulas (traditional and time-varying with Student’s t-copulas) to the exi...
Citation: Financial Innovation 2020 6:4 -
The relationship between energy consumption, economic growth and carbon dioxide emissions in Pakistan
Developing countries are facing the problem of environmental degradation. Environmental degradation is caused by the use of non-renewable energy consumptions for economic growth but the consequences of environ...
Citation: Financial Innovation 2020 6:1 -
General election effect on the network topology of Pakistan’s stock market: network-based study of a political event
To examine the interdependency and evolution of Pakistan’s stock market, we consider the cross-correlation coefficients of daily stock returns belonging to the blue chip Karachi stock exchange (KSE-100) index....
Citation: Financial Innovation 2020 6:2 -
The comparative African regional economics of globalization in financial allocation efficiency: the pre-crisis era revisited
This study assesses the role of globalization-fueled regionalization policies on the financial allocation efficiency of four economic and monetary regions in Africa from 1980 to 2008. Banking and financial sys...
Citation: Financial Innovation 2020 6:3 -
Editor’s introduction
Citation: Financial Innovation 2019 5:46 -
Impact of risk management strategies on the credit risk faced by commercial banks of Balochistan
This study aims to identify risk management strategies undertaken by the commercial banks of Balochistan, Pakistan, to mitigate or eliminate credit risk. The findings of the study are significant as commercial...
Citation: Financial Innovation 2019 5:44 -
Introduction to the special issue on FinTech
Citation: Financial Innovation 2019 5:45 -
Industry- and liquidity-based momentum in Australian equities
This study examined momentum profitability in Australia, providing further evidence for intermediate-term momentum profitability. Using data spanning different market states, we found that momentum was stronge...
Citation: Financial Innovation 2019 5:43 -
Evaluation of forecasting methods from selected stock market returns
Forecasting stock market returns is one of the most effective tools for risk management and portfolio diversification. There are several forecasting techniques in the literature for obtaining accurate forecast...
Citation: Financial Innovation 2019 5:40 -
Effect of family control on corporate dividend policy of firms in Pakistan
This study examines the impact of family control on the dividend policy of firms in Pakistan, covering the period from 2009 to 2016. It also investigates whether family control moderates the impact of firm-spe...
Citation: Financial Innovation 2019 5:42 -
The relative importance of competition to contagion: evidence from the digital currency market
How does the valuation change of an industry leader influence its competitors? Does it induce a competitive effect or a contagion effect? What are the driving forces of such influences? We attempted to answer ...
Citation: Financial Innovation 2019 5:41 -
Savings, investment, and growth in Nepal: an empirical analysis
This study analyzes the relationship between savings, investment, and economic growth in Nepal over 1975–2016. The structural breaks in the variables have been accounted for using the (Zivot and Andrews’s, J B...
Citation: Financial Innovation 2019 5:39 -
A chemical-reaction-optimization-based neuro-fuzzy hybrid network for stock closing price prediction
Accurate prediction of stock market behavior is a challenging issue for financial forecasting. Artificial neural networks, such as multilayer perceptron have been established as better approximation and classi...
Citation: Financial Innovation 2019 5:38 -
Does abnormal lending behavior increase bank riskiness? Evidence from Turkey
This study empirically analyzes whether the rapid growth of loans and risk-taking behavior during the expansion of loans affected non-performing loans (NPLs) and the solvency of financial institutions in the T...
Citation: Financial Innovation 2019 5:37 -
Testing the relationship between financial sector output, employment and economic growth in North Cyprus
Sound and efficient functioning of financial systems is critical to the economic prosperity of any economy. This paper investigates the tripartite relationship between financial sector output, employment and e...
Citation: Financial Innovation 2019 5:36 -
An integrated new threshold FCMs Markov chain based forecasting model for analyzing the power of stock trading trend
This paper explores the power of stock trading trend using an integrated New Threshold Fuzzy Cognitive Maps (NTFCMs) Markov chain model. This new model captures the positive as well as the negative jumps and p...
Citation: Financial Innovation 2019 5:35 -
Publisher Correction to: Financial innovation, volume 5
An error occurred during the publication of a number of articles in Financial Innovation. Several articles were published in volume 5 with a duplicate citation number.
Citation: Financial Innovation 2019 5:34 -
Co-movement in crypto-currency markets: evidences from wavelet analysis
We study the time varying co-movement patterns of the crypto-currency prices with the help of wavelet-based methods; employing daily bilateral exchange rate of four major crypto-currencies namely Bitcoin, Ethe...
Citation: Financial Innovation 2019 5:33 -
Assessing the spillover effects of U.S. monetary policy normalization on Nigeria sovereign bond yield
This study examines the spillover effects of U.S. monetary policy normalization on Nigeria 10-Year Treasury bond yield between 2011 and 2017, using the vector error correction model approach. Our results revea...
Citation: Financial Innovation 2019 5:32 -
Do migrant remittances matter for financial development in Kenya?
The paper analyzes the relationship between remittances and financial development using Kenyan quarterly data from 2006 to 2016. Five different indicators of financial development are used: credit to the priva...
Citation: Financial Innovation 2019 5:31 -
A hybrid Bayesian-network proposition for forecasting the crude oil price
This paper proposes a hybrid Bayesian Network (BN) method for short-term forecasting of crude oil prices. The method performed is a hybrid, based on both the aspects of classification of influencing factors as...
Citation: Financial Innovation 2019 5:30 -
Stock market and macroeconomic variables: new evidence from India
Understanding the relationship between macroeconomic variables and the stock market is important because macroeconomic variables have a systematic effect on stock market returns. This study uses monthly data f...
Citation: Financial Innovation 2019 5:29 -
Editor’s introduction
Citation: Financial Innovation 2019 5:28 -
A systematic review of blockchain
Blockchain is considered by many to be a disruptive core technology. Although many researchers have realized the importance of blockchain, the research of blockchain is still in its infancy. Consequently, this...
Citation: Financial Innovation 2019 5:27 -
The interaction effect of foreign capital inflows and financial development on economic welfare in sub-Saharan Africa
This study examines the interaction effects of foreign capital inflows and financial development on economic welfare in sub-Saharan Africa (SSA). Estimates based on the system-GMM estimator using panel data on...
Citation: Financial Innovation 2019 5:25 -
Predicting the daily return direction of the stock market using hybrid machine learning algorithms
Big data analytic techniques associated with machine learning algorithms are playing an increasingly important role in various application fields, including stock market investment. However, few studies have f...
Citation: Financial Innovation 2019 5:24 -
Modeling and forecasting time series of precious metals: a new approach to multifractal data
We introduce a novel approach to multifractal data in order to achieve transcended modeling and forecasting performances by extracting time series out of local Hurst exponent calculations at a specified scale....
Citation: Financial Innovation 2019 5:22
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- ISSN: 2199-4730 (electronic)