Since portfolio management relies on the association of portfolio diversification, analyzing the spillover between the United States (US) and Asian-Pacific financial markets has become more critical. If Asian stock markets have low or negative correlations with each other and/or the US market,...

Drawing upon an extensive dataset comprising 3,680 cyberattacks on firms listed in 5 stock markets, our main objective is to ascertain the financial market reaction based on a hybrid valuation inspired by the event study methodology and a counterfactual analysis. Analyses concern three dates...

Katharina Pistor proposed the Legal Theory of Finance (LTF), based on the premise that finance is legally constructed. In this paper, we apply network science to provide empirical evidence from global financial networks (GFN) to support the argument of the LFT. Using data from the World Bank and...

Microfinance is an emerging concept which is improving the socioeconomic status of customers. This study assesses customer satisfaction of clients of Islamic and conventional microfinance providers using a sample of 578 clients i.e. 289 from each side. Akhuwat and Kashf (Islamic microfinance)...

The insurance industry plays a substantive vitality in the growth of the economy. However, there is limited literature on the activities of the insurance industry and economic growth in Ghana. As one of the fastest-growing economies in sub-Saharan Africa before the global pandemic in 2020, there...

Like most of International Institutions, the Central Bank of West African States (BCEAO) considers universal access to finance as key to empowering disadvantaged people. Fitting into that context, this study aims to assess the accelerating role of digital technologies using mobile phone...

Theoretical approaches and demonstrated repertoires in the Islamic finance literature have formed a divergent and inconsistent system that did not truly value the importance of the Shariah Advisory Board’s quality and practices. The real impacts generated by the Shariah Advisory Board on the...

Microfinance institutions (MFIs) are a prominent financial inclusion initiative in many developing countries. In Zimbabwe, however, less is known about microfinance borrowers, determinants of loan utilisation and borrowers’ repayment behaviour. Demonstrating that MFIs serve those who are...

Quotients, ratios, are among the most applied tools for measuring performance of mutual funds and investment portfolios, the Jensen index being an exception to the general rule. In this paper, we show some problems that arise when quotients are applied, closely related to their statistical...

The main objective of this paper was to establish which behavioural finance biases are associated with a certain level of risk tolerance and investor personality. Furthermore, the study aimed to indicate how these behavioural finance biases can influence investment decisions. Since behavioural...