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Risks
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Financial Risk Management in Companies during the World Crisis
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Financial Risk Management in Companies during the World Crisis

A special issue of Risks (ISSN 2227-9091).

Deadline for manuscript submissions: closed (31 December 2023) | Viewed by 8156

Special Issue Editor

Dr. Grzegorz Zimon

E-Mail Website
Guest Editor
Faculty of Management, Rzeszow University of Technology, 35-959 Rzeszow, Poland
Interests: working capital management; accounting; costs management
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

The management of financial risk in enterprises is a necessity, especially today, in the context of the various crises around the world. It manifests itself in the implementation of appropriate risk management principles in the company, or a selected policy or strategy for managing a company. Today, managers of entities classified as SMEs should select and adapt such financial risk management tools in an enterprise to avoid the risk of losing financial liquidity, reduce credit risk, the risk of lowering financial results, and the risk of reducing revenues and increase the possibility for further development of the enterprise.

Considering the above, this Special Issue looks for outstanding research and development results, case studies, and review papers in topics that include but are not limited to the following:

  • Financial risk management;
  • Risk models;
  • Risk measures;
  • Risk analysis;
  • Risk management in multi-entity organizations;
  • Energy crisis;
  • The COVID-19 pandemic and financial risk in SMEs;
  • War in Europe and the financial risk of SME functioning.

Dr. Grzegorz Zimon
Guest Editor

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. Risks 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 1800 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.

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Published Papers (2 papers)

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Research

18 pages, 2418 KiB  
Article
The Silicon Valley Bank Failure: Application of Benford’s Law to Spot Abnormalities and Risks
by Anurag Dutta, Liton Chandra Voumik, Lakshmanan Kumarasankaralingam, Abidur Rahaman and Grzegorz Zimon
Risks 2023, 11(7), 120; https://doi.org/10.3390/risks11070120 - 3 Jul 2023
Cited by 4 | Viewed by 4048
Abstract
Data are produced every single instant in the modern era of technological breakthroughs we live in today and is correctly termed as the lifeblood of today’s world; whether it is Google or Meta, everyone depends on data to survive. But, with the immense [...] Read more.
Data are produced every single instant in the modern era of technological breakthroughs we live in today and is correctly termed as the lifeblood of today’s world; whether it is Google or Meta, everyone depends on data to survive. But, with the immense surge in technological boom comes several backlashes that tend to pull it down; one similar instance is the data morphing or modification of the data unethically. In many jurisdictions, the phenomenon of data morphing is considered a severe offense, subject to lifelong imprisonment. There are several cases where data are altered to encrypt reliable details. Recently, in March 2023, Silicon Valley Bank collapsed following unrest prompted by increasing rates. Silicon Valley Bank ran out of money as entrepreneurial investors pulled investments to maintain their businesses afloat in a frigid backdrop for IPOs and individual financing. The bank’s collapse was the biggest since the financial meltdown of 2008 and the second-largest commercial catastrophe in American history. By confirming the “Silicon Valley Bank” stock price data, we will delve further into the actual condition of whether there has been any data morphing in the data put forward by the Silicon Valley Bank. To accomplish the very same, we applied a very well-known statistical paradigm, Benford’s Law and have cross-validated the results using comparable statistics, like Zipf’s Law, to corroborate the findings. Benford’s Law has several temporal proximities, known as conformal ranges, which provide a closer examination of the extent of data morphing that has occurred in the data presented by the various organizations. In this research for validating the stock price data, we have considered the opening, closing, and highest prices of stocks for a time frame of 36 years, between 1987 and 2023. Though it is worth mentioning that the data used for this research are coarse-grained, still since the validation is subjected to a larger time horizon of 36 years; Benford’s Law and the similar statistics used in this article can point out any irregularities, which can result in some insight into the situation and into whether there has been any data morphing in the Stock Price data presented by SVB or not. This research has clearly shown that the stock price variations of the SVB diverge much from the permissible ranges, which can give a conclusive direction on further investigations in this issue by the responsible authorities. In addition, readers of this article must note that the conclusion formed about the topic discussed in this article is objective and entirely based on statistical analysis and factual figures presented by the Silicon Valley Bank Group. Full article
(This article belongs to the Special Issue Financial Risk Management in Companies during the World Crisis)
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23 pages, 488 KiB  
Article
Economic Uncertainty and Firms’ Capital Structure: Evidence from China
by Chenglin Gao and Takuji W. Tsusaka
Risks 2023, 11(4), 66; https://doi.org/10.3390/risks11040066 - 27 Mar 2023
Cited by 3 | Viewed by 3614
Abstract
This article assesses the effects of economic uncertainty on the corporate capital structure of Chinese-listed firms using a panel dataset of 1138 firms with A-shares traded on the Shanghai Stock Exchange and Shenzhen Stock Exchange for the period 2006–2020 and fixed-effect regression analysis. [...] Read more.
This article assesses the effects of economic uncertainty on the corporate capital structure of Chinese-listed firms using a panel dataset of 1138 firms with A-shares traded on the Shanghai Stock Exchange and Shenzhen Stock Exchange for the period 2006–2020 and fixed-effect regression analysis. Economic uncertainty had a negative influence on Chinese firms’ debt ratios, especially for non-state-owned enterprises. Furthermore, firms’ leverage decreased on average during the 2008 Great Recession, whereas it increased during the 2018–2019 US–China Trade War and the 2020 COVID-19 pandemic. The findings provide quantitative evidence of the effects of economic uncertainty on the capital structure of firms in a transition economy. Full article
(This article belongs to the Special Issue Financial Risk Management in Companies during the World Crisis)
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