Journal of Risk and Financial Management最新文献_第2页

An Empirical Analysis of Tax Evasion among Companies Engaged in Stablecoin Transactions 对参与稳定币交易的公司逃税行为的实证分析

Journal of Risk and Financial Management Pub Date : 2024-09-06 DOI: 10.3390/jrfm17090400

Rubens Moura de Carvalho, Helena Coelho Inácio, Rui Pedro Marques

{"title":"An Empirical Analysis of Tax Evasion among Companies Engaged in Stablecoin Transactions","authors":"Rubens Moura de Carvalho, Helena Coelho Inácio, Rui Pedro Marques","doi":"10.3390/jrfm17090400","DOIUrl":"https://doi.org/10.3390/jrfm17090400","url":null,"abstract":"This research investigates the relationship between stablecoin usage and tax evasion. We present a model that includes variables related to transactions such as intensity, frequency, environment on-chain (P2P) vs. off-chain (IntraVasp), and company characteristics such as age, sector, and size. Our model was empirically tested using a logistic regression based on data from the Brazilian Federal Revenue Service (Receita Federal do Brasil (RFB)) in 2021. This novel approach aims to understand the tax behaviours associated with stablecoin use in corporate financial practices. Our results indicate that the intensity, frequency, environment of transactions (specifically IntraVasp and P2P transactions), age, sector, and size are factors significantly associated with tax evasion behaviour. However, we found no evidence to suggest that firms engaging in only P2P transactions have a higher propensity for tax evasion than those engaging only in IntraVasp transactions. Our findings reveal that younger and medium-sized companies with intensive use of stablecoin, with high stablecoin transaction frequency, engaging in IntraVasp and P2P transactions, and belonging to the service sector are more likely to evade tax. Therefore, our research provides a detailed understanding of how digital financial practices with crypto assets (blockchain-based technology) intersect with corporate tax strategies, which can offer valuable insights for regulators, industry practitioners, and policymakers.","PeriodicalId":47226,"journal":{"name":"Journal of Risk and Financial Management","volume":"39 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-09-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142221341","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Journal of Risk and Financial Management Pub Date : 2024-09-05 DOI: 10.3390/jrfm17090398

Linh Tu Ho, Christopher Gan, Zhenzhen Zhao

{"title":"Climate-Related Regulations and Financial Markets: A Meta-Analytic Literature Review","authors":"Linh Tu Ho, Christopher Gan, Zhenzhen Zhao","doi":"10.3390/jrfm17090398","DOIUrl":"https://doi.org/10.3390/jrfm17090398","url":null,"abstract":"Countries are confronting climate change using climate-related regulations that require firms and investors to disclose their green strategies and activities. Using the Meta-Analysis Structural Equation Modeling (MASEM) technique, this study evaluates the relationship between climate-related regulations and financial markets. The meta-regression analysis is conducted based on the outcomes of 52 empirical studies screened from 143 relevant articles. The results show the predictive power of the climate-related disclosure (CRD) laws and environmental regulations (ERs) on financial performance across all studies. ERs create mixed impacts on the equity market and support the debt market. Firm value is affected by ERs either negatively or positively. Methodologies and risk-related factors (market, industry, and firm risks) are important in explaining the relationships between ER/CRD and financial performance. The more developed the market, the less the impact of ERs and CRD on the equity market. Considering industry risk is recommended because different industries are exposed to changes in policies differently. The ER/CRD–firm value relationship is affected by all market, industry, and firm risks. The downside effect of mandatory CRD on the equity market suggests that policy makers, firms, and investors should be cautious in passing a new CRD regulation for transformation towards a sustainable economy.","PeriodicalId":47226,"journal":{"name":"Journal of Risk and Financial Management","volume":"183 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142221170","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Capturing Tail Risks in Cryptomarkets: A New Systemic Risk Approach 捕捉加密市场的尾部风险：新的系统风险方法

Journal of Risk and Financial Management Pub Date : 2024-09-05 DOI: 10.3390/jrfm17090397

Itai Barkai, Elroi Hadad, Tomer Shushi, Rami Yosef

引用次数: 0

Do Corporate Ethics Enhance Financial Analysts’ Behavior and Performance? 企业伦理能提升金融分析师的行为和绩效吗？

Journal of Risk and Financial Management Pub Date : 2024-09-05 DOI: 10.3390/jrfm17090396

Sana Ben Hassine, Claude Francoeur

引用次数: 0

Market Mavericks in Emerging Economies: Redefining Sales Velocity and Profit Surge in Today’s Dynamic Business Environment 新兴经济体的市场特立独行者：在当今充满活力的商业环境中重新定义销售速度和利润增长

Journal of Risk and Financial Management Pub Date : 2024-09-04 DOI: 10.3390/jrfm17090395

Enkeleda Lulaj, Blerta Dragusha, Donjeta Lulaj

{"title":"Market Mavericks in Emerging Economies: Redefining Sales Velocity and Profit Surge in Today’s Dynamic Business Environment","authors":"Enkeleda Lulaj, Blerta Dragusha, Donjeta Lulaj","doi":"10.3390/jrfm17090395","DOIUrl":"https://doi.org/10.3390/jrfm17090395","url":null,"abstract":"This research aims to explore market mavericks by redefining sales velocity and profit surge in today’s dynamic business environment in emerging economies. The study focuses on the interplay between Sales Excellence (SE), Sales Capability (SC), Market Alignment (MA), Strategic Responsiveness (SR), and Dynamic Sales Management (DSM). Data from 180 companies (2021–2023), provided by financial leaders, were analyzed using SPSS (23.0) and AMOS (23.0) software. The analysis employed exploratory factor analysis (EFA), reliability analysis, and confirmatory factor analysis (CFA). The results highlight the critical role of these factors in shaping market mavericks and their significant impact on sales and profits in emerging economies. Specifically, SE enhances sales and profits when supported by effective strategies, SC drives organizational change by aligning service quality with SE, and MA drives sales velocity and profit surges through accurate forecasting. SR positively influences sales results by aligning sales with corporate strategy, while DSM is critical for motivating salespeople and shows strong links to SC and SR for successful adaptation in a dynamic business environment. The study reveals the interdependence of these factors and emphasizes the need for seamless integration and coordination to drive effective organizational change. These findings have significant implications for corporations seeking to improve their sales strategies and achieve sustainable growth in a rapidly evolving marketplace in emerging economies. This research explores market mavericks, redefines sales velocity and profit surge, and provides valuable insights into the critical factors shaping market mavericks and their impact on sales and profits. It offers guidance for organizations seeking sustainable growth.","PeriodicalId":47226,"journal":{"name":"Journal of Risk and Financial Management","volume":"29 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-09-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142221345","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Forecasting the Evolution of the Digital Economy in the Industry of the European Union 预测欧盟工业中数字经济的演变

Journal of Risk and Financial Management Pub Date : 2024-09-04 DOI: 10.3390/jrfm17090393

Iordanis Karavasilis, Vasiliki Vrana, George Karavasilis

引用次数: 0

Liquidity Spillover between Exchange-Traded Funds: Variations across News Regimes 交易所交易基金之间的流动性溢出：不同新闻制度下的差异

Journal of Risk and Financial Management Pub Date : 2024-09-04 DOI: 10.3390/jrfm17090391

Yang Liu, Yongchen Zhao

引用次数: 0

Corporate Social Responsibility and the Misclassification of Income Statement Items during the Coronavirus Pandemic 企业社会责任与冠状病毒大流行期间损益表项目的错误分类

Journal of Risk and Financial Management Pub Date : 2024-09-04 DOI: 10.3390/jrfm17090392

Zakeya Sanad, Hidaya Al Lawati, Abdalmuttaleb Al-Sartawi

{"title":"Corporate Social Responsibility and the Misclassification of Income Statement Items during the Coronavirus Pandemic","authors":"Zakeya Sanad, Hidaya Al Lawati, Abdalmuttaleb Al-Sartawi","doi":"10.3390/jrfm17090392","DOIUrl":"https://doi.org/10.3390/jrfm17090392","url":null,"abstract":"The purpose of this study was to examine the relationship between corporate social responsibility (CSR) and earnings management in Gulf Cooperation Council (GCC)-listed companies. It specifically addresses the question of whether companies that practice greater corporate social responsibility are less likely to engage in earnings management practices. The study sample consisted of 300 firms listed between 2015 and 2021 on GCC bourses (Saudi Arabia, United Arab Emirates, Bahrain, Qatar, Oman, and Kuwait). In this study, we developed multiple linear regression models and collected data from the Bloomberg database, Refinitiv, annual reports, official firms’ websites, and the GCC’s bourse websites for the period from 2015 to 2021. In the pre-pandemic period, firms that engaged in corporate social responsibility activities were more likely to have fewer classification-shifting practices. During the pandemic era, however, this relationship became significantly positive, suggesting that firms’ corporate social responsibility practices may be used to hide their opportunistic classification-shifting practices during difficult times, such as a pandemic. This paper presents a thorough investigation of how businesses may alter their behavior toward increasingly applied but understudied earnings management strategies and CSR practices during a difficult period such as a pandemic.","PeriodicalId":47226,"journal":{"name":"Journal of Risk and Financial Management","volume":"285 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-09-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142221340","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Twin Agency Problems and Debt Management around the World 孪生机构问题与世界各地的债务管理

Journal of Risk and Financial Management Pub Date : 2024-09-04 DOI: 10.3390/jrfm17090394

Tatiana Salikhova, Svetlana V. Orlova, Li Sun

引用次数: 0

Patterns in the Chaos: The Moving Hurst Indicator and Its Role in Indian Market Volatility 混乱中的模式：移动赫斯特指标及其在印度市场波动中的作用

Journal of Risk and Financial Management Pub Date : 2024-09-03 DOI: 10.3390/jrfm17090390

Param Shah, Ankush Raje, Jigarkumar Shah

引用次数: 0