Contemporary Studies on Corporate Finance and Business Research

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Business and Entrepreneurship".

Deadline for manuscript submissions: 28 February 2025 | Viewed by 7707

Special Issue Editors

Department of Finance, College of Business and Economics, Towson University, Towson, MD 21252, USA
Interests: corporate finance; investments; fintech

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Guest Editor
Department of Finance and Real Estate, School of Business, Southern Connecticut State University, 10 Wintergreen Ave., New Haven, CT 06515, USA
Interests: corporate finance; corporate governance; financial accounting; M&As; equity issuance; short selling; investment

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Guest Editor
Graham School of Business, Department of Management, Marketing and Entrepreneurship, York College of Pennsylvania, York, PA 17403, USA
Interests: marketing analytics and interactive marketing; marketing-finance interface; marketing strategy

Special Issue Information

Dear Colleagues,

We are delighted to extend an invitation to you to submit a paper for peer review and potential publication in a Special Issue of the Journal of Risk and Financial Management (www.mdpi.com/journal/jrfm), entitled "Contemporary Studies on Corporate Finance and Business Research". Given the broad scope of the topics and acceptance on a rolling window basis, we trust this Special Issue can potentially resonate with your expertise and align with your ongoing research interests.

This Special Issue aims to showcase the latest advancements in corporate finance and business research, highlighting innovative and diverse research that explores the dynamic landscape of financial management in today's corporate environment. This Special Issue welcomes empirical and theoretical papers that focus on a wide range of topics, including, but not limited to, the following:

  • Financial decision making and investment strategies in corporate finance;
  • Capital structure and financing choices;
  • Mergers and acquisitions;
  • Corporate governance and shareholder value;
  • Risk management and hedging strategies;
  • Financial performance evaluation and value creation;
  • Emerging trends in financial technology (Fintech) and its impact on corporate finance;
  • Environmental, social, and governance (ESG) considerations;
  • Corporate strategies in marketing and value creation;
  • Financial innovation and entrepreneurship.

We look forward to receiving your contributions related to these or any other pertinent topics that intersect with contemporary studies in corporate finance and business research.

Dr. Jian Huang
Dr. Han Yu
Dr. Minghui Ma
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • corporate finance
  • corporate decision making
  • corporate governance
  • risk management
  • fintech
  • ESG
  • corporate strategies in marketing
  • entrepreneurship

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Published Papers (4 papers)

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Research

16 pages, 282 KiB  
Article
The Value of Takeover Defenses and the Interaction Effects of Firm Characteristics
by Seoungpil Ahn
J. Risk Financial Manag. 2024, 17(8), 369; https://doi.org/10.3390/jrfm17080369 - 19 Aug 2024
Viewed by 618
Abstract
The value of takeover defenses changes with different firm characteristics. In the paper, I examine the interactions of firm characteristics with the value of takeover defenses. The results show that the relationship between firm value and takeover defenses differs in firm age, monitoring [...] Read more.
The value of takeover defenses changes with different firm characteristics. In the paper, I examine the interactions of firm characteristics with the value of takeover defenses. The results show that the relationship between firm value and takeover defenses differs in firm age, monitoring costs, advising needs, and their interactions. Takeover defenses are not necessarily more detrimental for older firms. Instead, takeover defenses are more harmful for older firms with higher monitoring costs, but the adverse impact is positively moderated for older firms with higher advising needs. Thus, the influence of firm age on the value of takeover defenses depends on a firm’s monitoring costs and advising needs. The findings of the paper present consistent evidence that takeover defenses have a heterogeneous impact for firms with different firm characteristics. Full article
(This article belongs to the Special Issue Contemporary Studies on Corporate Finance and Business Research)
22 pages, 676 KiB  
Article
Lessons from the Demise of the Brent Crude Oil Futures Contract on the Singapore Exchange
by David K. Ding and Wui Boon Lim
J. Risk Financial Manag. 2024, 17(6), 252; https://doi.org/10.3390/jrfm17060252 - 19 Jun 2024
Cited by 1 | Viewed by 875
Abstract
This paper highlights the lessons drawn from the demise of the Brent Crude Oil futures contract that was traded on the Singapore Stock Exchange (SGX). We analyze the market microstructure of the contract prior to its failure—specifically, the number of trades, trading volume, [...] Read more.
This paper highlights the lessons drawn from the demise of the Brent Crude Oil futures contract that was traded on the Singapore Stock Exchange (SGX). We analyze the market microstructure of the contract prior to its failure—specifically, the number of trades, trading volume, open interest, bid–ask spread, and volatility. We find a steady decline in the mean volume, open interest, and number of trades as the contracts near their demise. The bid–ask spread of the contract also widens. Investigations of the mutual offset feature of the Brent Crude Oil futures contract between SGX and the International Commodity Exchange (ICE) provides evidence that trading volume, open interest, and the number of trades increase significantly during 4:00–5:45 PM local time when mutual offset is available. Full article
(This article belongs to the Special Issue Contemporary Studies on Corporate Finance and Business Research)
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21 pages, 401 KiB  
Article
Environmental, Social, and Governance Performance and Value Creation in Product Market: Evidence from Emerging Economies
by Yasmeen Bashir, Yiwei Zhao, Huan Qiu, Zeeshan Ahmed and Josephine Tan-Hwang Yau
J. Risk Financial Manag. 2023, 16(12), 517; https://doi.org/10.3390/jrfm16120517 - 14 Dec 2023
Viewed by 2587
Abstract
Using a unique sample of 13,412 firm-year observations from 19 countries of the emerging economies for the period of 2011 to 2019, we investigate the association between the firms’ environmental, social, and governance (ESG) performance and their value creation in the product market. [...] Read more.
Using a unique sample of 13,412 firm-year observations from 19 countries of the emerging economies for the period of 2011 to 2019, we investigate the association between the firms’ environmental, social, and governance (ESG) performance and their value creation in the product market. Specifically, we first used the pooled OLS regression model for panel data as our baseline model and found that ESG performance (as well as its pillars) has a strong positive effect on the future value creation of the firms in the product market. We also conducted some additional analyses using various regression models, as well as adopting multiple tests for endogeneity, and the additional analyses revealed that the results are robust under different scenarios. Overall, the findings of this study highlight the importance of firm-level ESG performance for the value creation of firms in the product market in emerging economies and have theoretical and practical implications for academic researchers, market participants, and government entities in studying, evaluating, and governing firms’ ESG performance and reporting. Full article
(This article belongs to the Special Issue Contemporary Studies on Corporate Finance and Business Research)
21 pages, 648 KiB  
Article
An Attempt to Understand Stock Market Investors’ Behaviour: The Case of Environmental, Social, and Governance (ESG) Forces in the Pakistani Stock Market
by Samina Rooh, Hatem El-Gohary, Imran Khan, Sayyam Alam and Syed Mohsin Ali Shah
J. Risk Financial Manag. 2023, 16(12), 500; https://doi.org/10.3390/jrfm16120500 - 5 Dec 2023
Cited by 1 | Viewed by 3058
Abstract
The present study investigates the decision-making process of investors on the Pakistan Stock Exchange with regard to portfolio construction, explicitly focusing on the incorporation of ESG concerns. A quantitative research approach has been implemented for this paper. The hypotheses have been developed and [...] Read more.
The present study investigates the decision-making process of investors on the Pakistan Stock Exchange with regard to portfolio construction, explicitly focusing on the incorporation of ESG concerns. A quantitative research approach has been implemented for this paper. The hypotheses have been developed and tested through the adapted questionnaires. The data were collected from individual Pakistani investors. The present study employed SmartPLS-SEM to quantitatively assess data received from a sample of 421 out of 500 respondents. Based on the available data, investors participating in the Pakistan Stock Exchange are notably impacted by ESG aspects. The findings of this study hold significance for emerging economy firms, regulators, and investors, in terms of both theoretical and practical ramifications. The study’s findings demonstrate a clear indication of investors’ significant emphasis on ESG matters. This research made a significant contribution to the field of behavioural finance with a focus on ESG-related issues. This work contributes to the literature on ESG elements by using the Theory of Planned Behaviour (TPB) to adapt the ESG components from the United Nations Global Compact (UNGC) and Thomson Reuters Corporate Responsibility Index (TRCRI). Furthermore, it provides valuable insights for stakeholders who are involved in the ever-evolving realm of sustainable finance within developing countries. Full article
(This article belongs to the Special Issue Contemporary Studies on Corporate Finance and Business Research)
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