The 2nd Global Alternative Finance Market Benchmarking Report contributes 2019 and 2020 data, collected from financial technology firms that undertake digital lending and digital capital raising activities, to our globally comparable panel database on alternative finance. The study was supported...

We demonstrate how government deleveraging causes corporate distress in a distorted financial market. Our difference-in-differences (DID) analysis exploits China's top-down deleveraging policy in 2017, which targets shadow bank financing and reduces local governments' borrowing capacity. We find...

Purpose - Construction projects are fraught with hazards that have a detrimental impact on schedules, estimates, and quality. The project execution phase exposes contractors to internal and external hazards, either implicitly or explicitly. A project's achievement is contingent on the proper...

A new industrial development paradigm, the Fifth Industrial Revolution or 'Industry 5.0' is expected to humanise green technological innovation (GTI), social resilience, and sustainable development of industrial ecosystems. Emphasising the supplier-customer interaction, 'Industry 5.0' is...

The study characterizes financial monitoring as part of the system for preventing and counteracting the legalization of income and the financing of terrorism. The purpose of the research is to study the experience of how national financial monitoring systems function (in the UK, USA, China,...

We study the effect of Department of Justice lawsuits in the 2010s against large lenders for alleged fraud in the Federal Housing Administration (FHA) mortgage insurance program. The suits led to more than $5 billion in settlements and caused targeted banks and their peers to precipitously exit...

This paper deals with the problem of how the risk perception among retail customers is affected by the consumer protection regulation on the financial market. Through a questionnaire survey, we have measured the effect of selected consumer protection measures on banking or investment decisions...

Agency mortgage backed securities (MBS) with diverse characteristics are traded in parallel with individualized contracts in the specified pool (SP) market and with standardized contracts in the to-be-announced (TBA) market. We find that this unique parallel trading environment significantly...

We examine the economic mechanisms that limited arbitrage between the cash and forward markets of agency MBS, and whether asset purchases of the Federal Reserve (Fed) alleviated price dislocations. We find that the cash-forward basis, or the price difference between the cash and forward markets...