This paper develops a functional and historical appraisal of finance. We start by proposing a taxonomy of three core, theory-driven functions of the financial system - intermediation, entrepreneurial, and accumulative - that coevolve throughout the history of capitalism. We build an empirical...

Lara Ikrat: "Talentsuche in der Finanzbranche: Effektive Recruiting-Maßnahmen" / Lea Schlamp: "Künstliche Intelligenz im Recruiting: Einsatzmöglichkeiten und Herausforderungen für Kreditinstitute" / Simon Trautmann: "Auswirkungen des digitalen Euro für Privatkunden auf die DZ BANK AG"

This paper studies the role of banking supervision in anticipating, monitoring, and disciplining failing banks. We document that supervisors anticipate most bank failures with a high degree of accuracy. Supervisors play an important role in requiring troubled banks to recognize losses, taking...

The COVID-19 pandemic has caused market turmoil and economic distress. To understand the effect of the pandemic on the U.S. financial systemic risk, we analyze the explanatory power of detailed COVID-19 data on three market-based systemic risk measures (SRMs): Conditional Value at Risk, Distress...

This paper examines how digital metaspace technologies impact the financial market infrastructure. This paper develops a methodological platform for integrating the financial technology (FinTech) ecosystem models in the financial market infrastructure. The findings show that the benefits of...

Since the 2007 global financial crisis, scholars have attempted to explain market failures using aspects other than corporate governance. Previous studies focused on the function of corporate governance in financial performance, with a dearth of literature on other financial dimensions like risk...

As financial globalization continues to evolve, it has played a pivotal role in the development of financial sectors in developing countries, enhancing efficiency and fostering competition. However, this trend has also raised concerns regarding its socio-economic impacts, particularly in...

In this paper, we analyse data from 493 listed banks across 28 countries to investigate the impact and mechanisms through which banks' derivatives holdings influence systemic risk. Our empirical results indicate that banks' derivatives holdings significantly increase systemic risk. Regarding the...

This study investigates the impact of financial development (FD) on energy security risk (ESR) in 48 Belt and Road Initiative (BRI) countries from 1948 to 2022, emphasizing the roles of human capital (HC) and institutional quality (IQ). Findings reveal that FD significantly influences ESR, with...

Despite growing global concern, the gender pay gap (GPG) within China's financial sector remains underexplored through systematic, data-driven approaches. This study presents one of the few, if not the only, systematic literature review (SLR) and bibliometric analyses focused on the GPG in this...

The rapid accumulation of public debt raises global concern over its implications for financial markets. This study examines the effect of domestic public debt on financial development in Middle East and North Africa (MENA) countries, a region marked by sharp heterogeneity in institutions, debt...

Both developed and developing countries increased their energy consumption while continuing to advance economically and financially. In parallel with increasing energy use, the intensification of anthropogenic activities has led to higher greenhouse gas emissions, exposing countries to the...

China's robust economic growth serves as a key driver propelling the global economy forward. As such, understanding the factors influencing its sustainable economic growth remains a critical concern for stakeholders. In this context, this study aims to investigate the key determinants of China's...

This study examines how financial sector development mediates the relationship between digital payments and money laundering. The current study relies on a sample of 120 countries, including both developed and developing economies, for the years 2014, 2017, and 2021. The findings reveal that...

On 9 April 2024, the European Court of Human Rights (ECtHR) delivered a landmark ruling in Verein KlimaSeniorinnen Schweiz and Others v. Switzerland. The ruling was handed down together with two further rulings in Duarte Agostinho and others v. Portugal and others, and in Carême v. France. The...

The main objective of this study is to examine the relationship between globalization, financial development, human development and economic growth. The financial dimension of globalization, which is a multi-dimensional concept, is focused on, and the impact of financial globalization is...

Objective: The article aims to examine the impact of digitisation on employment and productivity in the financial sector and provide a comparative analysis between the Central European and the Baltic countries as no study has yet compared these two regions in terms of digitalisation and...

In this work, we problematize the issue of the statistical visibility of the trans population in the federal government's databases and administrative records. To the extent that it is represented through informational traces or vestiges, this segment encounters problems about population...

Banking has evolved from ancient times of using grain banks and temple lending to modern banking practices. The transformation of the banking sector has ensured that banks play the crucial role of facilitating faster and efficient service delivery. This paper traced the evolution of banking and...

Monetary policy and central banks faced significant challenges in recent decades, like the Great Recession and the 2008-2009 financial crisis, and the Global Inflation Surge of 2021-2022. The introduction of blockchain technology triggered major financial innovations. Nevertheless, the adoption...

As economies across the world continue to digitize, debates around the design and efficiency of national infrastructures for electronic payments have gained added relevance. Central to these debates is the question of how many electronic funds transfer (EFT) systems can viably coexist within a...

Climate change and environmental degradation threaten the world and global economic conditions. As one of countries' most important economic components, the financial sector might be an effective tool for reducing and even reversing environmental degradation. The financial sector can affect...

An important feature of the process of transformation in developing economies is the depth and outreach of their capital and credit markets, i.e. financial development. As this is often considered crucial to support growth and poverty reduction, it is important to understand what structural...