Purpose -The main aspect of security analysis is its valuation through a relationship between the security return and the associated risk. The purpose of this paper is to review the traditional capital asset pricing model (CAPM) and its variants adopted in empirical investigations of asset...

Purpose - The purpose of this paper is to theoretically examine under what circumstances economic cycles advance or deter corporate defaults. Design/methodology/approach - The theoretical inferences are authenticated through Monte Carlo simulations. Findings -It is found that an ongoing...

Purpose - The purpose of this paper is to study the differences or variance in the yields of Islamic and conventional bank deposits and capital, respectively, in view of their contractual differences, namely the former which is based on equity and the latter on debt. Design/methodology/approach...

Purpose – Aims to examine the currency impact on return, risk and market correlations from the perspective of both dollar and non-dollar-based investments. Design/methodolgy/approach - Monthly data on six stock index series and exchange rates from Financial Times Sources are used, covering the...

Purpose – To attempt to relate the mean returns and price volatility of a selected sample of 30 companies listed in Athens stock exchange (ATHEX), to the introduction of the legal framework concerning corporate governance. Design/methodology/approach - The essence of this approach is...

Purpose –One of the implications of Islamic investment principles is the availability of Islamic financial instruments in the financial market. The main aim of this research is to observe the differences in terms of performance between Islamic and conventional mutual fund in the context of...

Purpose - The purpose of this study is to present theory and empirical evidence on whether changes in leverage are systematically associated with changes in the CEO's risk incentives over time. Design/methodology/approach - A model is developed to explain the dynamic relationship between...

In this paper, the future trends and challenges of financial risk management are considered. First, the historical developments and current status of financial risk management are assessed. Then, key features of the financial industry in the digital economy are discussed. It is argued that the...

The objective of this study is to analyze the framework within which microfinance institutions (MFIs) deliver their services and provide an assessment of their operations and financial management. These institutions are examined because of their current importance to a special group of...

This paper compares the hedging performance of the minimum‐extended Gini hedge ratio (MEGHR) and the minimum‐variance hedge ratio (MVHR) using three emerging market currencies. The MEGHR is consistent with the expected utility hypothesis under very general conditions, unlike the MVHR which...