We build on agency and strategy literature to investigate and explain whether and how changes in stock returns are related to key managerial decisions by firms that are consistent and supportive of the firm’s strategy in different industry concentrations. Unlike previous work, our study...

This study examines the spill over effects of geopolitical risks (GPR) and extreme shocks on Commonwealth of Independent States (CIS) economies, as result of the Russia – Ukraine war, with particular focus on financial institutions. Further, we investigate whether the performance of CIS banks...

This study examines the interconnectedness between central bank digital currencies (CBDCs), digital assets, and financial stability. First, we use the CBDC index as a measure of financial stability and examine its connectedness with other known measures of financial stability used in the...

Leverage is an important risk factor which has been ignored in the asset pricing literature. This paper attempts to broaden the focus of the current asset pricing literature by forming portfolios mimicking the leverage factor. Leverage is a vital risk factor that explains stock returns. We also...