The evidence of financial globalization and the rapid and uniform contagion that it entails among the different international financial markets, have been exposed after the 2008 crisis outbreak, as well as the different chapters of financial stress that have been experienced since then, such as...

This paper provides causal evidence on the effect of credit crunches on political polarisation. Combining data on bank-firm connections and electoral outcomes at the city-level during the 2008-2014 Spanish financial crisis, I construct an instrument for unemployment based on the city-level...

Money, capitalist market societies' paramount contract, relies on the belief in its enduring value. However, we still know surprisingly little about the social foundations that sustain that belief. How is our collective trust in the enduring value of money socially built, and what happens if...

This paper applies an empirical model of corporate capital structure, optimal debt, and overleveraging to estimate overleveraging measured as the difference between actual and optimal debt. Estimated using a sample of the twenty largest pharmaceutical firms, covering the time span from 2000 to...

Financial bubbles and crashes have repeatedly caused economic turmoil notably but not only during the 2008 financial crisis. However, both in the popular press as well as scientific publications, the meaning of bubble is sometimes unspecified. Due to the multitude of bubble definitions, we...

This study examines the impact of firms' overall corporate policy risk on stock liquidity. This study constructs a novel overall corporate policies risk index (PRI) for firms by capturing risk embedded in managers' different policy decisions, such as investment, financing, diversification, and...

The significant increase in non-performing loans (NPLs) during the escalating recession of the Greek economy motivates us to study the predictive power of credit rating models in periods of economic shocks. In parallel, we examined the responsibilities of bank management in the expansion of NPLs...

Objective:The article examines how strong the sell-off on the capital market in the United States must be to cause above-average, positive rates of return on the gold investment market. The durability of such above-average gains in the gold market was also assessed.Research Design & Methods: The...

Sectoral vulnerability to distinct crisis types in small, open, and geopolitically exposed markets-such as Jordan-remains insufficiently quantified, constraining targeted policy design and portfolio allocation. This study's primary purpose is to establish a transparent, comparable metric of...

Given that small and medium-sized enterprises (SMEs) are the backbone of the economy, SME survival and resilience are vital during financial, health, or social crises, such as war or political upheaval. The current study conducted a systematic literature analysis from theoretical perspectives...

This study explores the relationship between income inequality, economic growth, and unemployment in Greece from 2003 to 2020, encompassing key economic phases: pre-crisis, crisis, memoranda, and post-memoranda. The aim is to analyze how economic growth (logarithm of GDP-LOGGDP) and unemployment...

Using developing countries in Europe for context, this study examines the complex relationship between financial crises and financial integration. We use panel data comprising 37 countries in Europe, including Iceland, Belarus, Ukraine, Turkey, and Russia from 2000-2019 and the general method of...

We present a methodology based on quarterly sectoral accounts to build a map of the euro area financial system. The map can be used to visualise existing cross-sectoral interconnections and exposures, to analyse how the main bilateral positions have evolved over time, and to understand how past...

This research examines the determinants of banks' profit by employing the GLS, GMM and SEM regression method for 574 observations obtaining from 35 banks functioning in Vietnam between 2005 and 2022. Our evidence indicates that non-performing loans, deposit, loan, capital, operating cost,...

Challenging the perceived immunity of Islamic stocks to the global financial crisis, this research investigates whether there was any coherence and long-run cointegration between Islamic stocks of BRIC countries and S&P 500 options implied volatility smirk (IVS) in BRIC countries during the...

Crypto assets' partial money-like use promotes toxic developments in the financial system. Even though crypto assets might be regarded as close substitutes to traditional money, we show that they lack important functions of money. Traditional fiat money requires several interacting institutions...

This paper examines the relative cost efficiency of U.S. small banks after the 2008 Global Financial Crisis (2008 GFC). Using financial information from 10,495 of the same small banks operating from 2010 to 2021, we examine the after-effects of the recent global financial crises on the U.S....

This study offers a comprehensive insight into the realms of economic fraud and risk management, underscoring the necessity of adaptability to evolving technologies and shifts in financial market dynamics. Through the application of bibliometric methodologies, this study meticulously maps the...

This article provides empirical evidence on the zero-leverage phenomenon for a sample of European listed firms for the period 1995-2016. It is shown that there are two types of firms with zero leverage: the financially constrained firms that face obstacles in obtaining external finance, as...