International Journal of Finance最新文献

{"title":"The Impact of Fintech Innovations on Traditional Banking Systems","authors":"Belinda Nkatekho","doi":"10.47941/ijf.2116","DOIUrl":"https://doi.org/10.47941/ijf.2116","url":null,"abstract":"Purpose: This study sought to explore the impact of fintech innovations on traditional banking systems. \u0000Methodology: The study adopted a desktop research methodology. Desk research refers to secondary data or that which can be collected without fieldwork. Desk research is basically involved in collecting data from existing resources hence it is often considered a low cost technique as compared to field research, as the main cost is involved in executive’s time, telephone charges and directories. Thus, the study relied on already published studies, reports and statistics. This secondary data was easily accessed through the online journals and library. \u0000Findings: The findings reveal that there exists a contextual and methodological gap relating to the impact of fintech innovations on traditional banking systems. Preliminary empirical review revealed that fintech innovations had significantly transformed the financial industry, presenting both opportunities and challenges for traditional banking systems. It revealed that while fintech solutions enhanced operational efficiencies and customer satisfaction, traditional banks needed to adopt strategic planning and agile adaptation to maintain their competitiveness. The study highlighted the importance of collaboration between fintech firms and traditional banks, emphasizing the need for a balanced regulatory approach to foster innovation while ensuring financial stability. \u0000Unique Contribution to Theory, Practice and Policy: The Disruptive Innovation Theory, Diffusion of Innovations Theory and the Resource Based View Theory may be used to anchor future studies on fintech innovations on traditional banking systems. The study recommended that traditional banks embrace digital transformation by investing in technology infrastructure, fostering innovation, and upskilling employees. It suggested forming strategic partnerships with fintech firms to leverage technological advancements and enhance competitiveness. The study also advised policymakers to update regulatory frameworks to support innovation and maintain financial stability, while promoting financial literacy and inclusion. Lastly, it called for continuous dialogue and collaboration among all stakeholders to address challenges and seize opportunities presented by fintech innovations.","PeriodicalId":508423,"journal":{"name":"International Journal of Finance","volume":" 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141826545","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}

{"title":"Cryptocurrency and Its Role in Portfolio Diversification","authors":"Goodwell Okechukwu","doi":"10.47941/ijf.2115","DOIUrl":"https://doi.org/10.47941/ijf.2115","url":null,"abstract":"Purpose: This study sought to explore cryptocurrency and its role in portfolio diversification. \u0000Methodology: The study adopted a desktop research methodology. Desk research refers to secondary data or that which can be collected without fieldwork. Desk research is basically involved in collecting data from existing resources hence it is often considered a low cost technique as compared to field research, as the main cost is involved in executive’s time, telephone charges and directories. Thus, the study relied on already published studies, reports and statistics. This secondary data was easily accessed through the online journals and library. \u0000Findings: The findings reveal that there exists a contextual and methodological gap relating to cryptocurrency and its role in portfolio diversification. Preliminary empirical review revealed that incorporating cryptocurrencies into investment portfolios offered promising diversification benefits due to their low correlation with traditional assets, despite their high volatility and regulatory uncertainties. It highlighted the significant risk management challenges posed by cryptocurrencies' extreme price fluctuations and the evolving regulatory landscape. The study emphasized the importance of careful, limited allocation to cryptocurrencies, robust risk management practices, and continuous market monitoring. Ultimately, it suggested that cryptocurrencies could enhance portfolio performance when strategically used alongside traditional diversification methods. \u0000Unique Contribution to Theory, Practice and Policy: The Modern Portfolio Theory, Efficient Market Hypothesis and Behavioural Finance Theory may be used to anchor future studies on portfolio diversification. The study recommended a cautious yet strategic inclusion of cryptocurrencies in investment portfolios to enhance diversification, emphasizing the importance of ongoing research, robust risk management, and proactive monitoring due to their high volatility and regulatory uncertainties. It called for clear and consistent regulatory frameworks to protect investors while fostering market growth, and highlighted the need for collaboration between academia, industry, and regulatory bodies to improve financial literacy and market stability. These recommendations aimed to contribute to theoretical, practical, and policy aspects of cryptocurrency investments.","PeriodicalId":508423,"journal":{"name":"International Journal of Finance","volume":" 27","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141825041","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}

{"title":"Behavioral Finance: Investor Psychology and Market Outcomes","authors":"Zachary Taylor","doi":"10.47941/ijf.2113","DOIUrl":"https://doi.org/10.47941/ijf.2113","url":null,"abstract":"Purpose: The general objective of the study was to explore how psychological factors and cognitive biases influence investor decisions and market dynamics. \u0000Methodology: The study adopted a desktop research methodology. Desk research refers to secondary data or that which can be collected without fieldwork. Desk research is basically involved in collecting data from existing resources hence it is often considered a low cost technique as compared to field research, as the main cost is involved in executive’s time, telephone charges and directories. Thus, the study relied on already published studies, reports and statistics. This secondary data was easily accessed through the online journals and library. \u0000Findings: The findings reveal that there exists a contextual and methodological gap relating to investor psychology and market outcomes. Preliminary empirical review revealed that psychological factors such as cognitive biases and investor sentiment significantly impacted financial decision-making and market dynamics, leading to anomalies like market bubbles and volatility. It highlighted the need for integrating behavioral insights into financial models to better predict and understand market behavior, emphasizing the importance of financial literacy in mitigating adverse effects of these biases. \u0000Unique Contribution to Theory, Practice and Policy: The Prospect Theory, Herding Theory and Efficient Market Hypothesis (EMH) may be used to anchor future studies on behavioural finance. The study recommended further development of behavioral finance models to incorporate psychological factors, and for financial institutions to integrate behavioral insights into their services to guide better investment decisions. It also advised policymakers to design regulations enhancing market transparency and protecting investors from biases, while promoting financial literacy and implementing measures to monitor and mitigate systemic risks from irrational behavior.","PeriodicalId":508423,"journal":{"name":"International Journal of Finance","volume":" 42","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141824020","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}

{"title":"Challenges for the Peer-to-Peer (P2P) Lending Market","authors":"Goutham Sabbani","doi":"10.47941/ijf.2009","DOIUrl":"https://doi.org/10.47941/ijf.2009","url":null,"abstract":"Through this paper, I would like to point out some pain points faced in P2P lending marketing and suggest appropriate ways to tackle these issues. To put things into perspective, I will start by talking about the history of P2P lending and the growth it has already achieved. Then, I will first talk about how fraudulent agents can act as deterrents to prospective market participants. Then, I will discuss how financial regulation is not always uniform across borders and the challenges that can arise out of this. Finally, I will conclude the paper with some recommendations of my own.","PeriodicalId":508423,"journal":{"name":"International Journal of Finance","volume":"9 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141336052","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}

{"title":"Effect of Working Capital Management Practices on Financial Performance of Hotels in Kenya: A Case of Selected Three Star Hotels in Garissa Town","authors":"Aden Abdi Rashid, Peter Butali, Robert Odunga","doi":"10.47941/ijf.1986","DOIUrl":"https://doi.org/10.47941/ijf.1986","url":null,"abstract":"Purpose: The main objective of this study was the effect of working capital management practices on the financial performance 3 star hotels in Garissa County. The study objectives was; to examine the influence of cash management practices, the effect of payables management practices, and effect of receivables management practices on financial performance 3 star hotels in Garissa town. Methodology: Three theories underpinned the study that is Theory of Working Capital Management, Cash Conversion Cycle Theory and Transaction Cost Theory. The research design used in the study was descriptive. The 171 employees of the chosen three-star hotels in Garissa Town were the target population where the sample of 120 participants was determined using Taro Yamane's formula (1967). Primary data were used in the study and was collected through a questionnaire through a drop-and-pick method. The Statistical Package for Social Sciences was used to analyze the data. Findings were presented using bar charts, graphs, and diagrams. Findings: The descriptive results revealed that all respondents were in agreement with statements on working capital management practices and its effect on financial performance. Additionally, the model summary results established that working capital management practices (cash management practices, payable management practices, and receivable management practices) accounts for 73.3% of variations in the financial performance of 3 star rated hotels in the county. The study further established that cash management practices, payable management practices, and receivable management practices bears a positive and significant effect on financial performance of hotels operating in Garissa Town as depicted by beta values of 0.593, 0.276 and 0.471 and significant values of 0.000, 0.004 and 0.000 respectively. The results imply that the financial performance of hotels operating in Garissa Town changes with respective beta values when each of the independent variable is increased with one unit. Unique Contribution to Theory, Practice and Policy: The study provided recommendations to the management of the hotels operating in Garissa Town to enhance working capital management practices such as cash management practices, payable management practices, and receivable management practices since the practices positively and significantly affects the levels of financial performance of the hotels. ","PeriodicalId":508423,"journal":{"name":"International Journal of Finance","volume":" 18","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141370376","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}

{"title":"Effect of Financial Accountability Practices on Financial Sustainability of Micro Finance Institutions in Garissa County, Kenya","authors":"Abdikadir Salah Diis, Robert Odunga, J. Ayora","doi":"10.47941/ijf.1987","DOIUrl":"https://doi.org/10.47941/ijf.1987","url":null,"abstract":"Purpose: This study aimed at establishing the effect of financial accountability practices on financial sustainability of micro finance institutions in Garissa County, Kenya. Specifically, the study aimed at establishing the effects of financial reporting practices, risk assessment practices, financial structure accountability practices and monitoring activities on financial sustainability of micro finance institutions in Garissa County. \u0000Methodology: The study was grounded in three key theories: Accounting Theory, Agency Theory, and Stewardship Theory. It adopted a descriptive research methodology and focuses on eight microfinance institutions in Garissa County. The target population includes 210 employees from departments such as Audit, Finance, and Accounting, along with operational staff, middle-level supervisors, and departmental heads. The study uses a census approach to select all 210 respondents. Both descriptive and inferential statistical methods are utilized for analysis. The analysis was conducted using SPSS version 24 and Microsoft Excel to generate both descriptive and inferential statistics. Tables and figures were employed in displaying the results of the study. \u0000Findings: The study established that financial accountability practices comprising of financial reporting practices, risk assessment practices, financial structure accountability practices and monitoring activities positively and significantly affects financial sustainability of micro finance institutions in Garissa, Kenya. This is demonstrated by beta values of 0.176, 0.211, 0.436, and 0.306, along with significant values of 0.019, 0.007, 0.000, and 0.001, respectively. The results bears the implications that increasing each of the financial accountability practices with one unit results to increase in financial sustainability with respective beta values. The study concluded that enhancing the financial accountability practices leads to enhanced financial sustainability of micro finance institutions in Garissa County. \u0000Unique Contribution to Theory, Practice and Policy: The study provided recommendations to the management of the MFIs to enhance financial accountability practices such as financial reporting practices, risk assessment practices, financial structure accountability practices and monitoring activities.","PeriodicalId":508423,"journal":{"name":"International Journal of Finance","volume":" 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141369063","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}

{"title":"The Future of the Finance Workforce: How Microsoft Copilot May Reshape Roles and Skillsets","authors":"Nikhil Jarunde","doi":"10.47941/ijf.1918","DOIUrl":"https://doi.org/10.47941/ijf.1918","url":null,"abstract":"Purpose: Artificial intelligence (AI) is rapidly advancing, with tools like Microsoft Copilot poised to significantly change the workplace. This paper examines the potential impact of Copilot adoption on the finance workforce. \u0000Methodology: It analyzes which financial tasks may be susceptible to automation through Copilot's capabilities and identifies the emerging skills that will be crucial for finance professionals to remain competitive in an AI-driven landscape. \u0000Findings: This research provides insights for educators, policymakers, and finance professionals seeking to prepare for the future of work in the finance sector. \u0000Unique contribution to theory, policy and practice: In essence, the future of the finance workforce will be characterized by a dynamic interplay between automation, skill evolution, and ethical considerations. By embracing the transformative potential of Microsoft Copilot and cultivating the necessary skillsets, finance professionals can seize opportunities for innovation, drive value creation, and navigate the evolving landscape of finance with confidence and resilience.","PeriodicalId":508423,"journal":{"name":"International Journal of Finance","volume":"77 8","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141101731","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}

{"title":"Exploring the Role of Artificial Intelligence in Personalized Payment Recommendations","authors":"Kalyanasundharam Ramachandran","doi":"10.47941/ijf.1913","DOIUrl":"https://doi.org/10.47941/ijf.1913","url":null,"abstract":"This white paper delves into the transformative potential of Artificial Intelligence (AI) in revolutionizing payment systems through personalized payment recommendations. It explores how AI technologies can be leveraged to analyze consumer behavior and customize payment options, thereby enhancing user engagement and security in digital transactions. Stakeholders, including financial institutions, e-commerce platforms, payment service providers, and technology developers, will find in-depth analysis and actionable insights on integrating AI to optimize payment experiences. This document outlines the benefits, challenges, and practical implementations of AI in payment systems, offering stakeholders a comprehensive guide to harnessing AI for improved consumer satisfaction and transaction efficiency. Through this exploration, stakeholders can anticipate gaining a clear understanding of how AI-driven personalization can be strategically implemented to drive business innovation and maintain competitive advantage in the rapidly evolving digital marketplace.","PeriodicalId":508423,"journal":{"name":"International Journal of Finance","volume":"38 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141120252","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}

{"title":"Financial Crises and Economic Downturns of Commercial Banks in North Rift Region, Kenya","authors":"Benard Agwata Onchwari, Julius Miroga","doi":"10.47941/ijf.1904","DOIUrl":"https://doi.org/10.47941/ijf.1904","url":null,"abstract":"Purpose: General objective of the study was to explore the financial crises and economic downturn of commercial banks in North Rift Region in Kenya. The study specifically sought to establish the effects of interest rates crisis, currency crisis, corporate debt crisis and liquidity crisis on economic downturns of commercial banks in North Rift Region in Kenya. The study was anchored on Credit Crunch Theory, the Debt Overhang Theory, the Liquidity Preference Theory and the Credit cycle Theory. \u0000Methodology: A descriptive survey design was adopted. The study population consisted of all the 44 commercial banks in the North rift region in Kenya and in each commercial bank, branch managers were also targeted who gave a clear overview of financial crises and how it affected the economic downturns of their respective banks. Purposive sampling was employed to select the 44 branch managers. The primary data was collected by using a questionnaire that was pretested for reliability and validity. The study also analyzed the data using both descriptive and inferential statistics. Descriptive statistics including percentages, frequencies, means and standard deviations were adopted in analyzing the data. Linear Regression analysis and correlation analysis as the inferential statistics were used to show the relationship that existed between the variables. The findings were then presented using tables. \u0000Findings: The study findings indicated that interest rates crisis had a significant negative effect on the economic downturns of commercial banks (p = 0.027, <0.05). The findings also indicated that currency crisis had a significant negative effect on the economic downturns of commercial banks with p = 0.033, <0.05. corporate debt crisis had a significant negative effect on the economic downturns of commercial banks (p = 0.015, <0.05). Liquidity crisis had a significant negative effect on economic downturns of commercial banks where the regression model also indicated that p = 0.002, <0.05. The study concluded that interest rates crisis, currency crisis, corporate debt crisis and liquidity crisis had a negative effect on the economic downturns of commercial banks. \u0000Unique contribution to theory, practice and policy: The study recommends that the commercial banks should develop products with flexible interest rates to cater to borrowers during periods of high interest rates. The management should consider offering fixed-rate loans for a limited term to provide some stability to businesses. The policy makers such as the Central Bank of Kenya should implement measures to stabilize the national currency and promote foreign investment during crises.","PeriodicalId":508423,"journal":{"name":"International Journal of Finance","volume":"6 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140979855","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}

{"title":"Breaking Down Barriers: Adapting Three Lines of Defense for Ever Changing Banking Regulations","authors":"Kinil Doshi","doi":"10.47941/ijf.1876","DOIUrl":"https://doi.org/10.47941/ijf.1876","url":null,"abstract":"The changing regulatory landscape presents a significant challenge to banks. This paper discusses the challenges associated with adapting the Three Lines of Defense (3LOD) model in order to comply with regulatory changes within the banking industry. The paper focuses on the challenges of adapting to the rapidly evolving banking regulatory environment. The three lines of defense (LoDs) model is a framework that enables banks to manage risk and compliance with regulatory requirements with precision and accountability. The 3LODs are based on a three-line strategy. The LLOD model enables a bank to identify and manage risks accurately and effectively. The use of technology and analytics can enable banks to automate control checks to improve the speed and precision of their control checks. To conclude, banks need to refine the three lines of defense to keep up with an ever-evolving regulatory environment to ensure compliance with rules, identifying risks accurately, and enhancing their risk management capabilities.","PeriodicalId":508423,"journal":{"name":"International Journal of Finance","volume":"18 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141014436","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}