Subjects -> BUSINESS AND ECONOMICS (Total: 3510 journals)
    - ACCOUNTING (127 journals)
    - BANKING AND FINANCE (297 journals)
    - BUSINESS AND ECONOMICS (1231 journals)
    - CONSUMER EDUCATION AND PROTECTION (20 journals)
    - COOPERATIVES (4 journals)
    - ECONOMIC SCIENCES: GENERAL (202 journals)
    - ECONOMIC SYSTEMS, THEORIES AND HISTORY (235 journals)
    - FASHION AND CONSUMER TRENDS (20 journals)
    - HUMAN RESOURCES (103 journals)
    - INSURANCE (26 journals)
    - INTERNATIONAL COMMERCE (145 journals)
    - INTERNATIONAL DEVELOPMENT AND AID (103 journals)
    - INVESTMENTS (22 journals)
    - LABOR AND INDUSTRIAL RELATIONS (61 journals)
    - MACROECONOMICS (17 journals)
    - MANAGEMENT (586 journals)
    - MARKETING AND PURCHASING (106 journals)
    - MICROECONOMICS (23 journals)
    - PRODUCTION OF GOODS AND SERVICES (143 journals)
    - PUBLIC FINANCE, TAXATION (37 journals)
    - TRADE AND INDUSTRIAL DIRECTORIES (2 journals)

INTERNATIONAL COMMERCE (145 journals)                     

Showing 1 - 136 of 136 Journals sorted by number of followers
Journal of Monetary Economics     Hybrid Journal   (Followers: 96)
Information Technologies & International Development     Open Access   (Followers: 82)
International Economic Review     Hybrid Journal   (Followers: 61)
International Labour Review     Partially Free   (Followers: 60)
Journal of International Business Studies     Hybrid Journal   (Followers: 47)
IMF Economic Review     Hybrid Journal   (Followers: 44)
Review of International Political Economy     Hybrid Journal   (Followers: 41)
Journal of International Money and Finance     Hybrid Journal   (Followers: 39)
Journal of International Economics     Hybrid Journal   (Followers: 38)
International Review of Social History     Full-text available via subscription   (Followers: 33)
Journal of International Development     Hybrid Journal   (Followers: 32)
International Review of Economics & Finance     Hybrid Journal   (Followers: 30)
International Review of Law and Economics     Hybrid Journal   (Followers: 27)
International Finance     Hybrid Journal   (Followers: 27)
PharmacoEconomics     Full-text available via subscription   (Followers: 27)
Journal of International Marketing     Full-text available via subscription   (Followers: 24)
Quarterly Journal of Political Science     Full-text available via subscription   (Followers: 20)
Journal of International Financial Markets, Institutions and Money     Hybrid Journal   (Followers: 20)
International Journal of Applied Behavioral Economics     Full-text available via subscription   (Followers: 19)
Journal of World Trade     Full-text available via subscription   (Followers: 19)
Human Resource Management International Digest     Hybrid Journal   (Followers: 19)
Journal of International Trade Law and Policy     Hybrid Journal   (Followers: 19)
Career Development International     Hybrid Journal   (Followers: 18)
Human Resource Development International     Hybrid Journal   (Followers: 18)
European Business Law Review     Full-text available via subscription   (Followers: 17)
African Journal of Economic and Sustainable Development     Hybrid Journal   (Followers: 17)
Journal of Contemporary European Research     Open Access   (Followers: 16)
Studies in Comparative International Development     Hybrid Journal   (Followers: 16)
International Labor and Working-Class History     Full-text available via subscription   (Followers: 15)
International Environmental Agreements: Politics, Law and Economics     Hybrid Journal   (Followers: 14)
Review of International Economics     Hybrid Journal   (Followers: 14)
International Marketing Review     Hybrid Journal   (Followers: 13)
Advances in Accounting     Hybrid Journal   (Followers: 12)
Journal of International Trade & Economic Development: An International and Comparative Review     Hybrid Journal   (Followers: 12)
International Small Business Journal     Hybrid Journal   (Followers: 11)
European Company Law     Full-text available via subscription   (Followers: 11)
International Review of Financial Analysis     Hybrid Journal   (Followers: 10)
Journal of International Entrepreneurship     Hybrid Journal   (Followers: 10)
Journal of the Association for Consumer Research     Full-text available via subscription   (Followers: 10)
International Business Review     Hybrid Journal   (Followers: 9)
World Competition     Full-text available via subscription   (Followers: 9)
International Review of Finance     Hybrid Journal   (Followers: 9)
World Trade and Arbitration Materials     Full-text available via subscription   (Followers: 9)
Journal of International Consumer Marketing     Hybrid Journal   (Followers: 9)
International Entrepreneurship and Management Journal     Hybrid Journal   (Followers: 8)
International Studies of Management and Organization     Full-text available via subscription   (Followers: 8)
Emerging Markets Finance and Trade     Hybrid Journal   (Followers: 8)
Journal for International Business and Entrepreneurship Development     Hybrid Journal   (Followers: 8)
International Economic Journal     Hybrid Journal   (Followers: 8)
Information Resources Management Journal     Full-text available via subscription   (Followers: 8)
International Public Management Journal     Hybrid Journal   (Followers: 8)
Antitrust Bulletin     Hybrid Journal   (Followers: 8)
Competition and Regulation in Network Industries     Full-text available via subscription   (Followers: 7)
Management International Review     Hybrid Journal   (Followers: 7)
International Advances in Economic Research     Hybrid Journal   (Followers: 6)
International Review of Applied Economics     Hybrid Journal   (Followers: 6)
International Economics and Economic Policy     Hybrid Journal   (Followers: 6)
Global Trade and Customs Journal     Full-text available via subscription   (Followers: 6)
South African Journal of International Affairs     Hybrid Journal   (Followers: 6)
TDM Transnational Dispute Management Journal     Full-text available via subscription   (Followers: 5)
Journal of International Management     Hybrid Journal   (Followers: 5)
EC Tax Review     Full-text available via subscription   (Followers: 5)
Journal of International Accounting, Auditing and Taxation     Hybrid Journal   (Followers: 5)
Intertax     Full-text available via subscription   (Followers: 4)
Journal of Chinese Human Resource Management     Hybrid Journal   (Followers: 4)
IN VIVO     Full-text available via subscription   (Followers: 4)
Journal of the Japanese and International Economies     Hybrid Journal   (Followers: 4)
International Insolvency Review     Hybrid Journal   (Followers: 4)
International Review of Economics     Hybrid Journal   (Followers: 4)
Journal of International Financial Management & Accounting     Hybrid Journal   (Followers: 4)
Journal of Revenue and Pricing Management     Hybrid Journal   (Followers: 4)
Revue Internationale du Travail     Full-text available via subscription   (Followers: 3)
Foreign Trade Review     Hybrid Journal   (Followers: 3)
Syracuse Journal of International Law and Commerce     Open Access   (Followers: 3)
European Journal of International Management     Hybrid Journal   (Followers: 3)
International Review of Retail, Distribution and Consumer Research     Hybrid Journal   (Followers: 3)
Monthly Statistics of International Trade - Statistiques mensuelles du commerce international     Full-text available via subscription   (Followers: 3)
International Economics     Hybrid Journal   (Followers: 3)
International Review on Public and Nonprofit Marketing     Hybrid Journal   (Followers: 3)
Management international / International Management / Gestiòn Internacional     Full-text available via subscription   (Followers: 3)
World Food Policy     Hybrid Journal   (Followers: 3)
Digital Finance : Smart Data Analytics, Investment Innovation, and Financial Technology     Hybrid Journal   (Followers: 3)
Journal of International Food & Agribusiness Marketing     Hybrid Journal   (Followers: 2)
Asian Journal of Shipping and Logistics     Open Access   (Followers: 2)
International Transactions In Operational Research     Hybrid Journal   (Followers: 2)
China Business Review     Full-text available via subscription   (Followers: 2)
Qualitative Research in Financial Markets     Hybrid Journal   (Followers: 2)
Journal of Chinese Economic and Foreign Trade Studies     Hybrid Journal   (Followers: 2)
International Trade Journal : Western Hemispheric Studies     Hybrid Journal   (Followers: 2)
Journal of Korea Trade     Full-text available via subscription   (Followers: 1)
MEED Middle East Economic Digest     Full-text available via subscription   (Followers: 1)
Global Summitry     Hybrid Journal   (Followers: 1)
Global & Strategis     Open Access   (Followers: 1)
Acta Economica Et Turistica     Open Access   (Followers: 1)
Transnational Corporations Review     Hybrid Journal   (Followers: 1)
Economic Journal of Emerging Markets     Open Access   (Followers: 1)
International Journal of Export Marketing     Hybrid Journal   (Followers: 1)
World Oil Trade     Hybrid Journal   (Followers: 1)
Journal of Economics and International Finance     Open Access   (Followers: 1)
Estudos Internacionais : revista de relações internacionais da PUC Minas     Open Access   (Followers: 1)
Research World     Hybrid Journal   (Followers: 1)
Asia and the Global Economy     Open Access   (Followers: 1)
Economics Research International     Open Access   (Followers: 1)
Revue internationale P.M.E. : économie et gestion de la petite et moyenne entreprise     Full-text available via subscription   (Followers: 1)
Critical Perspectives on International Business     Hybrid Journal   (Followers: 1)
International Commerce Review     Hybrid Journal   (Followers: 1)
Botswana Journal of Economics     Open Access   (Followers: 1)
Journal of Antitrust Enforcement     Hybrid Journal   (Followers: 1)
Japanese Political Economy     Full-text available via subscription   (Followers: 1)
International Journal of Asian Business and Information Management     Full-text available via subscription   (Followers: 1)
L'Année du Maghreb     Open Access   (Followers: 1)
Amnis     Open Access   (Followers: 1)
China Economic Quarterly International     Open Access  
Regional Formation and Development Studies     Open Access  
Journal of Reviews on Global Economics     Open Access  
Journal of International Business Policy     Hybrid Journal  
East Asian Community Review     Hybrid Journal  
Ekonomia Międzynarodowa     Open Access  
Jurnal Ilmu Ekonomi Terapan     Open Access  
Jurnal Hubungan Internasional     Open Access  
Journal of Advanced Research in Economics and International Business     Full-text available via subscription  
Proceedings of the International Conference on Business Excellence     Open Access  
Journal of Accounting and Finance in Emerging Economies     Open Access  
International Journal of Governance and Financial Intermediation     Hybrid Journal  
South American Development Society Journal     Open Access  
Revista Multiface Online     Open Access  
Revue internationale de l'économie sociale     Full-text available via subscription  
Expert Journal of Business and Management     Open Access  
Crossroads     Hybrid Journal  
Relações Internacionais (R:I)     Open Access  
Revista Brasileira de Gestão de Negócios     Open Access  
Journal of Theoretical and Applied Electronic Commerce Research     Open Access  
International Journal of Commerce and Management     Hybrid Journal  
EMAJ : Emerging Markets Journal     Open Access  
Journal of International Commerce, Economics and Policy     Hybrid Journal  
Journal of Comparative International Management     Full-text available via subscription  

           

Similar Journals
Journal Cover
Qualitative Research in Financial Markets
Journal Prestige (SJR): 0.241
Citation Impact (citeScore): 1
Number of Followers: 2  
 
Hybrid Journal Hybrid journal   * Containing 1 Open Access Open Access article(s) in this issue *
ISSN (Print) 1755-4179 - ISSN (Online) 1755-4187
Published by Emerald Homepage  [362 journals]
  • Heuristics in the wild: exploring fund manager decisions through the COVID
           pandemic

    • Free pre-print version: Loading...

      Authors: Daniel Gilcher
      Abstract: This paper aims to provide a novel explorative perspective on fund managers’ decisions under uncertainty. The current COVID pandemic is used as a unique reference frame to study how heuristics are used in institutional financial practice. This study follows a grounded theory approach. A total of 282 diverse publications between October 2019 and October 2020 for 20 German mutual funds are qualitatively analyzed. A theory of adaptive heuristics for fund managers is developed. Fund managers adapt their heuristics during a crisis and this adaptive process flows through three stages. Increasing complexity in the environment leads to the adaption of simplest heuristics around investment decisions. Three distinct stages of adaption: precrisis, uncertainty and stabilization emerge from the data. This study’s data is based on publicly available information. There might be a discrepancy between publicly stated and internal reasoning. Money managers can use the provided framework to assess their decision-making in crises. The developed adaptive processes of heuristics can assist capital allocators who choose and rate fund managers. Policymakers and regulators can learn about the aspects of investor decisions that their actions and communication address. Teaching can use this study to exemplify the nature of financial markets as adaptive systems rather than static structures. To the best of the author’s/authors’ knowledge, this study is the first to systematically explore the heuristics of professional money managers because they navigate a large-scale exogenous crisis.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-11-30
      DOI: 10.1108/QRFM-09-2021-0149
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Will adoption of blockchain technology be challenging: evidence from
           Indian banking industry

    • Free pre-print version: Loading...

      Authors: Preeti Khanna , Arunima Haldar
      Abstract: Blockchain technology is predicted by many to be the most disruptive technology which might bring accessibility, efficiency and transparency in the financial industry. This study aims to understand the challenges likely to be faced by the Indian banking industry while adopting the technology. The study adopted a qualitative approach to explore the challenges faced by the banking industry in India. Semi-structured in-depth interviews with senior executives and academicians in the finance and the information technology industries helped gain explorative insights about the challenges. Thematic analysis suggested a framework comprising five challenges while adopting blockchain technology. These challenges relate to technology, organisation, operation, regulator and environmental context. The paper contributes to the limited literature on the nascent blockchain technology adoption in banking industry in an emerging country context.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-11-28
      DOI: 10.1108/QRFM-01-2022-0003
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Foreign divestments: a review and research agenda

    • Free pre-print version: Loading...

      Authors: H. Kent Baker , Deepak Kumar , Neelam Rani
      Abstract: Foreign divestment of subsidiaries is a growing research field. The global increase in investments has led to more divestments. However, much about the processes and circumstances leading to foreign divestments (FDs) requires further investigation. This study aims to review and consolidate the existing literature on foreign divestment and identify avenues for future research. This study performs a systematic literature review and bibliometric analysis of studies on FDs to highlight the traditional and emerging perspectives in the field. This work examines foreign divestment theories based on operations, human resources, finance and marketing business functions. This study sets forth a basic foreign divestment framework and highlights potential research areas. Future studies should expand to emerging economies, explore complex relationships, distinguish foreign divestment types and identify the limits of various theories and perspectives. This study discusses traditional theories such as economies of scale, portfolio adjustment, reverse eclectic, real options and transaction cost economies. This study also examines emerging perspectives: attention-based, behavioral, committedness, contingency, favoritism, flexibility, hysteresis, legitimation, network and resource-based views. This study uses traditional and emerging theories to explain foreign divestment decisions in different business functions.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-11-09
      DOI: 10.1108/QRFM-12-2021-0206
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Corporate governance in a weak legal environment: a systematic review
           focusing on Zimbabwe

    • Free pre-print version: Loading...

      Authors: Kingstone Nyakurukwa , Yudhvir Seetharam
      Abstract: Literature shows that corporate governance matters more in countries with weak legal environments. The purpose of this study is to synthesise and map research that has been done so far on corporate governance in Zimbabwe, a country that has been characterised by weak legal systems and lack of respect for property rights. A systematic review and bibliometric analysis of 20 articles indexed in the Scopus and Web of Science databases was carried out to establish the trends and evolution of corporate governance in Zimbabwe. The articles reviewed looked at the association between corporate governance attributes and firm performance, disclosure of information and economic growth. The proportion of independent directors was found to significantly affect firm performance and information disclosure in most of the studies. The majority of the studies used descriptive statistics and simple regression in their methodologies. The stakeholder theory is the most used in the studies reviewed. The study highlights the need to strengthen the state infrastructure that enhances corporate governance at the firm level. When state-owned companies adhere to good corporate governance practices, this can cascade to the private sector.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-10-11
      DOI: 10.1108/QRFM-01-2022-0012
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Current state and future directions of green and sustainable finance: a
           bibliometric analysis

    • Free pre-print version: Loading...

      Authors: Muhammad Abubakr Naeem , Sitara Karim , Mustafa Raza Rabbani , Abu Bashar , Satish Kumar
      Abstract: Growing attention of policymakers, governments and regulation authorities towards climate change and global warming has spurred the extensive need to carefully examine the current practices of green and sustainable finance. This study aims to provide a comprehensive analysis on the current state and future directions of green and sustainable finance through bibliometric analysis. For extensive bibliometric analysis, the study comprises 1,413 documents published in peer-reviewed journals indexed in the SCOPUS database for the period ranging from 1990 to 2021. The authors find that there are mainly three key areas of green and sustainable finance, which are largely addressed by the scholars following the given time. The key areas include socially responsible investments, green finance and climate finance that are in line with the previous studies and existing trends and practices prevailing in the business and corporate world. The findings are important for policymakers, regulatory bodies, upcoming scholars, environmentalists and investors as findings of the study provide an effective framework for adopting sustainable strategies, to trade-off between profits and environmental hazards and to generate value from the green avenues of research and practice. The study offers novel contributions to the existing literature in terms of comprehensively providing evidence of the current practices of green and sustainable finance. Meanwhile, significant implications for the prospective audience further refine the contribution of research.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-10-10
      DOI: 10.1108/QRFM-10-2021-0174
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Transparency in the digitalization choices and the cost of equity capital

    • Free pre-print version: Loading...

      Authors: Antonio Salvi , Felice Petruzzella , Nicola Raimo , Filippo Vitolla
      Abstract: Digitalization is an element capable of improving companies’ financial performance. Despite the relevance of the topic, the financial effects associated with extensive transparency in digitalization choices have rarely been explored in extant literature. This study aims to close this important gap by examining the effect of digitalization-related information on the cost of equity capital. This study uses manual content analysis on a sample of 122 international listed firms to measure the level of transparency in digitalization choices and a regression model to test the effect of this transparency on the cost of equity capital. The results show that broad transparency allows firms to benefit from a lower cost of equity capital. From this perspective, disseminating information about digitalization choices in a signaling theory key represents the signal that companies send to investors. This study extends the knowledge about the potential of transparency to facilitate access to finance by examining the effect of another type of information, namely, those relating to digitalization choices, on the cost of equity capital.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-10-05
      DOI: 10.1108/QRFM-02-2022-0015
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • A new proposal for the profit dıstribution system of the
           participation banking

    • Free pre-print version: Loading...

      Authors: Mehmet Bulut , Aydın Gündoğdu
      Abstract: The trust in participation banks depends largely on authentic dependence on Sharia, legal financial instruments and fair yet transparent distribution among account owners and banks. Taking into account the economic Islamic principles and those of mudarabah agreement, this study aims to identify problematic areas pertaining to profit sharing in addition to revealing opportunities leading to the improvement of the profit distribution system while developing a new profit distribution system proposal. This study proposes two hypotheses (H). H1: There are partial deviations between the profit considered to be legal according to the economic principles of Islam and the practice of participation banking. H2: There are partial deviations or loss of right in practice between the mudarabah contract concluded among owners of participation account and participation banks. In-depth interview technique and review of the literature including legislation were used to determine the parameters affecting the distributed profit. The collected data was tested through comparison with the theoretical framework of the mudarabah contract. There are two separate fund pools used in participation banks, including equity and participation accounts. Managers’ selection of pools set according to their personal goals related to balance sheet profit management may cause profit to pass between participation accounts and equity. Many issues negatively affect the distributed profits. For example, incomes from funding commissions, reserve requirements and idle funds, although they originate from participation accounts, are recorded in the bank’s income. In addition, the bank does not return the profit initially recorded in its own account to participation pools, whether or not profit. The interviewed officials were cautious to avoid a negative perception of the sector. This made it difficult to determine the real situation of applications decided with initiative in profit distribution. Although the authorization documents have partially been published, it is still difficult to access most licensed documents. There is no independent audit report made considering the interest-free banking principles regarding the profit distribution system of participation banking. The scarcity of the literature on the subject is another limitation. The research does not cause any harm to the reputation of participation banks. Adopting a single-pool system in line with the global practices will end the shift of right between pools while ensuring a fair and transparent system. In this system, the bank equities, other shareholders’ funds and participation accounts are collected and operated in a single pool. The pool profit and loss are distributed as per the shares in the pool. The profit per each participation account is distributed based on the share of each participation account in the pool and profit-sharing ratio. Participation banking is expected to support the real economy by means of production, leasing, merchandising based on certain religious, ethical and contractual principles. Bringing funds of conservatives, that does not go to conventional banks for avoiding of interest, in the economy is expected to provide new sources to reduce the foreign dependency for the economy and to supply a financial alternative for the conservatives who stay away from interest-based economic activities. However, if this will represent an alternative to debt-based systems, then products, contracts, business processes and legislations driven according to interest-free banking principles should be developed. This study introduces and analyzes a new proposal of the profit distribution system of participation banking. A similar methodology is used in interest-free banking on a global scale, especially in Malaysia, and is compatible with the profit distribution decisions in AAOIFI’s depositor accounts. However, this methodology is considered to be new as far as participation banking is concerned. The implementation of this new methodology will eliminate several problems identified in the profit distribution system of participation banks. This research provides an academic contribution to the participation banking profit distribution system and represents a reference material on the subject.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-10-04
      DOI: 10.1108/QRFM-01-2021-0010
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Stewardship theory of corporate governance and succession planning in
           family businesses of UAE: views of the owners

    • Free pre-print version: Loading...

      Authors: Mohamed Jasir , Naimat U. Khan , Yasser Barghathi
      Abstract: This paper aims to explore corporate governance (CG) and succession planning in family-owned businesses in the United Arab Emirates (UAE). Semi-structured interviews are conducted with 16 owners and heirs of UAE family businesses. The interviews – face-to-face and asynchronous electronic – are conducted instead of a questionnaire to get an in-depth analysis of the topic in the context of both medium- and large-sized family businesses. The responses are mixed with regard to governance challenges (duality, gender, internal control, transparency, etc.). The majority of the interviewees indicate that succession planning remains one of the biggest challenges for family businesses in the UAE. Fifteen of the sixteen interviewees document that a sound succession strategy must be in place to ensure the continuity of the business and prevent future disputes among potential successors. Similarly, the respondents also emphasise the importance of transparency and accountability for the sustainability of family businesses. The sustainability of family businesses relies on many aspects, such as national regulations, corporate systems and the succession process. Finally, most of the respondents from medium-sized companies opined that incorporating CG is a time-consuming and expensive process. The interviewees supported stewardship theory in case family members are occupying positions on the board as they have more long-term commitment and a greater sense of belonging to the business (socio-emotional wealth) compared to non-family members. The interviewees acknowledge that the lack of professionalism and conflicts of interest among family members can be offset by recruiting non-family members. Family businesses are particularly significant in the Arab world as they account for over 60% of gross domestic product (GDP) and use above 80% of the workforce which make them interesting research subject. In addition, this paper explores the CG challenges faced by both large- and medium-sized family businesses in the UAE within the theoretical framework of stewardship theory.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-09-14
      DOI: 10.1108/QRFM-08-2021-0135
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • What we know and what we should know about speed of capital structure
           adjustment: a retrospective using bibliometric and system thinking
           approach

    • Free pre-print version: Loading...

      Authors: Apoorva Arunachal Hegde , Venkateshwarlu Masuna , Ajaya Kumar Panda , Satish Kumar
      Abstract: This paper aims to conduct bibliometric analysis on the studies dealing with capital structure’s speed of adjustment (SoA) and identify the prominent themes while suggesting future research directions in the area. The existing reviews broadly focus on the capital structure, which provides the scope for conducting a review on this sub-aspect of capital structure. This study uses a three-stage process to conduct this review: identification of academic journals, selection and analysis of target papers. This study uses a combination of bibliometric tools and a system thinking approach to assess the current status of publications and emerging themes within the literature. This study has found a progressive evolution of SoA in capital structure research from 1984 to 2021. Studies largely focus on implementing the dynamic models to analyse the impact of adjustment costs, dynamic economic conditions, corporate governance practices and other variables on the firms’ adjustment speed and financial decisions. The network analysis of citations, keywords and clusters gives further knowledge on the intellectual structure of the data. This study is highly dependent on the papers available within the SCOPUS database. Studies not included herein are not part of this analysis, which may or may not bear an effect on the study’s findings. To the best of the authors’ knowledge, the application of systems engineering concept of “system thinking approach” to identify literature gap and suggest directions for forthcoming research is the first of its kind, thus adding a novel and multidisciplinary aspect to this study.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-09-14
      DOI: 10.1108/QRFM-11-2021-0188
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Decoding momentum returns: an integrated bibliometric and content analysis
           approach

    • Free pre-print version: Loading...

      Authors: Mayank Joshipura , Sangeeta Wats
      Abstract: Over the past three decades, numerous conceptual and empirical studies have discussed momentum investment strategies’ presence, pervasiveness and persistence. However, science mapping in the field is inadequate. Hence, this study aims to comprehend and explore current dynamics, understand knowledge progression, elicit trends through thematic map analysis, synthesize knowledge structures and provide future research directions in this domain. The study applies bibliometric analysis on 562 Scopus indexed articles from 1986 to 2021. Biblioshiny version 3.1.4, a Web-based application included in Bibiliometrix package developed in R-language (Aria and Cuccurullo, 2017), was used to examine: the most prominent articles, journals, authors, institutions and countries and to understand the thematic evolution and to elicit trends through the synthesis of knowledge structures including conceptual, intellectual and social structures of the field. Motor themes, basic transverse, niche and emerging and declining themes were identified using (Callon, 1991) strategic thematic map. Besides, four major clusters based on a cocitation network of documents were identified: empirical evidence and drivers of momentum returns, theories explaining momentum returns and implications for asset pricing and market efficiency, avoiding momentum crashes and momentum in alternative asset classes, alternative explanations for momentum returns. The study infers that momentum research is becoming multidisciplinary given the dominance of behavioral theories and economic aspects in explaining the persistence of momentum profits and offers future research directions. The study deploys bibliometric analysis, appropriate for deriving insights from the vast extant literature. However, a meta-analysis might offer deeper insights into specific dimensions of the research topic. Besides, the study’s findings are based on Scopus indexed articles analyzed using bibilioshiny; the database and software limitations might have affected the findings. The study is a ready reckoner for scholars who intend to recognize the evolution of momentum investment strategies, current dynamics and future research direction. The study offers practitioners insights into efficiently designing and deploying momentum investment strategies and ways to avoid momentum crashes. The study offers insights into the irrational behavior and systematic errors committed by market participants that helps regulators and policymakers to direct investors’ educational efforts to minimize systematic behavioral errors and related adverse financial consequences. This comprehensive study on momentum investment strategies evaluates research trends and current dynamics draws a thematic map, knowledge progression in the field and offers future research directions.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-09-13
      DOI: 10.1108/QRFM-12-2021-0211
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • A systematic literature review and bibliometric analysis of noise trading

    • Free pre-print version: Loading...

      Authors: Sanjay Gupta , Nidhi Walia , Simarjeet Singh , Swati Gupta
      Abstract: This comprehensive study aims to take a punctilious approach intended to present qualitative and quantitative knowledge on the emerging concept of noise trading and identify the emerging themes associated with noise trading. This study combines bibliometric and content analysis to review 350 publications from top-ranked journals published from 1986 to 2020. The bibliometric and content analysis identified three major themes: the impact of noise traders on the functioning of the stock market, traits of noise traders and different proxies used to measure the impact of noise trading. This study undertakes research papers related to the field of finance, published in peer-reviewed journals and that too in the English language. This study shall accommodate rational traders, portfolio consultants and other investors to gain deeper insights into the functioning of noise traders. This will further help them to formulate their trading/investment strategies accordingly. The successful combination of the bibliometric and content analysis revealed major gaps in the literature and provided future research directions.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-09-01
      DOI: 10.1108/QRFM-09-2021-0154
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Does Tawarruq still remain the top option for Islamic home financing (IHF)
           products in Malaysia'

    • Free pre-print version: Loading...

      Authors: Norhazlina Ibrahim , Safeza Mohd Sapian
      Abstract: The purpose of this study is to investigate whether Tawarruq Islamic home financing (IHF) products remain untouched and maintain their position as the top IHF product in Malaysia. The study adopted a qualitative research methodology that included both literature review and content analysis. Firstly, the existing studies and literature were reviewed to compare different types of IHF. The composition of IHF products offered by these Islamic banks was then investigated further to analyse each bank’s progress in IHF from 2015 to 2019. The data were gathered from bank websites, brochures, product disclosure sheets and annual reports. The findings reveal that around 62.5% of Islamic banks offered Tawarruq for IHF in the year 2020. For the banks that offered Tawarruq, the amount of the financing continued to grow each year. The plausible reason for the preference for Tawarruq was its less risky nature, despite facing numerous operating, legal and Shariah issues. This study has several limitations, including the fact that it was limited to home financing products only, the methodology used and the research period. This study aimed to provide beneficial insights into the use of Tawarruq, which has been a source of concern for regulators as well as steps made to reduce its usage in the industry. Islamic banks should be more proactive in developing non-Tawarruq products to enhance product innovation in the market and minimise the heavy reliance on debt-based products. This study provides useful insights by analysing IHF in depth for each Islamic bank and making recommendations for future research. Specifically, the method facilitated critical discussions and comparisons to previous research findings as to why Tawarruq has remained popular.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-08-26
      DOI: 10.1108/QRFM-07-2021-0118
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Agency problems in the private pension system of Turkey: pension sector
           employee perspectives

    • Free pre-print version: Loading...

      Authors: Remziye Gül Aslan
      Abstract: This study aims to examine how the governance structure of the private pension system of Turkey affects the extent of agency problems through a qualitative exploratory analysis of the pension sector employees’ perspectives. This study is based on qualitative exploratory research, which includes semi-structured interviews with 13 pension sector employees to investigate their perspectives on agency problems within Turkey’s private pension system. Data from interviews are analyzed by using the thematic content analysis method. This study shows us that agency problems are prevalent in Turkey's private pension system, especially in the relations between pension company employees and participants. This study highlights four vulnerabilities of governance structure: the incapacity of governance structure to prevent pension companies as institutional agents from risky operations and transactions, the ability of local capital groups to use their controlling power for effecting fund management operations, the incapacity of the governance structure to prevent the employment of agents with inadequate qualifications, the lack of proper legal and regulatory framework for ensuring sufficient information disclosure to participants during contract-making and fund selection processes. Previous research on the agency problems in the private pension schemes mostly investigated the issue from the viewpoint of participants. Thus, exploring agency problems from the agents’ point of view will be a contribution to the literature while illuminating the underlying structural problems within the system.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-08-18
      DOI: 10.1108/QRFM-07-2021-0120
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Impacts of big data analytics adoption on firm sustainability performance

    • Free pre-print version: Loading...

      Authors: Sheshadri Chatterjee , Ranjan Chaudhuri , Demetris Vrontis , Alkis Thrassou
      Abstract: This study aims to examine the impacts of adopting big data analytics (BDA) on firm sustainability performance (FSP) mediated through firm financial performance (FIP) and operational performance (OPP). A theoretical model is based on ideas from existing literature on BDA, sustainability, FIP, dynamic capability view theory and resource capability view theory. The model is then validated using the partial least squares–structural equation modeling technique with consideration of 312 responses from 24 Indian firms. The study provides three important findings. First, there is a significant and positive impact of BDA on firms’ financial and OPP. Second, BDA significantly and positively impacts firm business process performance (BPP) and dynamic capabilities (DYC), which, in turn, significantly impacts the firm’s financial and OPP. Finally, both the financial and OPP of the firm significantly and positively impact sustainability performance. This theoretical model is unique in showing the impacts of BDA on BPP, firm DYC, financial and OPP. The study also shows how BDA can enhance FSP by mediating through financial as well as the OPP of the firms. The study uses data only from India and thus the proposed model cannot be generalizable. This study provides valuable input to researchers, academicians and industry practitioners on the importance of BDA for FSP. The study also adds value to the body of knowledge on sustainability, FIP and technology adoption. The proposed unique theoretical model has an explanative power of 70%, which is quite high and can be used across different industries.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-06-14
      DOI: 10.1108/QRFM-01-2022-0005
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Identifying salient beliefs underlying intention to save regularly: an
           elicitation study of Malaysian Gen Y

    • Free pre-print version: Loading...

      Authors: Ida Lopez , Nurul Shahnaz Mahdzan , Mahfuzur Rahman
      Abstract: Using the integrated behavioural model as a theoretical framework, this study aims to identify salient beliefs underlying intention to save regularly among Gen Ys in Malaysia. Semi-structured interviews were conducted with 13 participants who were selected using purposive and snowball sampling methods. While Gen Ys are not pushed by others to save, they find that older people (parents, parents-in-law, colleagues and relatives) influence them to save. The main facilitator of regular saving behaviour is low financial commitments. Expenses, particularly unexpected expenses, was found to be the main factor impeding the performance of regular saving. Overall, the participants feel that, irrespective of what happens in the future, they want to continue saving regularly. Lastly, self-efficacy might be present for some participants, but not self-control. Some end up withdrawing their savings for spending, emergency, and travel, thus ending up almost depleting their savings. Of this study’s 13 interviewees, only one has not managed to save any money. Such an imbalanced sample composition was not deliberate. It appears those who have not saved money were reluctant to be interviewed, as this topic might be uncomfortable for them. This could have led to only those who save being eager to be interviewed. Policy makers should find this study useful, as the behaviour of Gen Ys in Malaysia is different from the overall perception of Malaysians’ financial behaviours. Gen Ys have positive attitudes towards saving money, although they do not seem to practice long-term saving. Policymakers could identify, with banks and the Employee Provident Fund, ways to encourage Gen Ys to think long term. Government could play its part by creating and increasing awareness amongst Gen Ys on the long-term consequences of inadequate savings. This study contributes to the literature by identifying the salient beliefs underlying regular saving behaviour through the conduct of elicitation interviews. It is an empirically grounded study enhancing the understanding of intention to perform regular saving among Gen Ys in an emerging market.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-05-31
      DOI: 10.1108/QRFM-07-2021-0115
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • The potential of alternative investments as an asset class: a thematic and
           bibliometric review

    • Free pre-print version: Loading...

      Authors: Hardeep Singh Mundi , Deepak Kumar
      Abstract: This paper aims to review, systematize and integrate existing research on alternative investments. This study conducts performance analysis comprising production timeline, country-wise contributions, analysis of sources, affiliations, the geography of authors and citations of studies on alternative investments. This study adopts a thematic and bibliometric analysis methodology on 570 papers identified from mainstream literature on alternative investments. This study provides an analysis of science mapping, including co-citation analysis, bibliometric coupling, word analysis and trending topics on alternative investments. In addition, the study presents thematic analysis by classifying existing studies into nine themes. Alternative investments provide diversification benefits and play a critical role in portfolio construction, and the research on alternative investments has gained momentum in recent times. This study finds that hedge funds, private equity, artwork, collectibles, commodities, fine wine and venture capital have remained prominent themes in the field. Investments in cryptocurrencies are an emerging area in the research on alternative investments. This study limits itself to the papers published in the area of finance and economics listed on the Scopus database. This study provides quantitative bibliometric analysis and thematic analysis of the extant literature on alternative investments and identifies the areas that could be developed to advance research on alternative investments.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-05-31
      DOI: 10.1108/QRFM-11-2021-0182
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Facilitator or enforcer, ally or enemy' Claimant’s perceptions of
           insurers’ roles in occupational rehabilitation

         This is an Open Access Article Open Access Article

    • Free pre-print version: Loading...

      Authors: Jarna Pasanen
      Abstract: This study aims to deepen the understanding of insurers’ role within the return-to-work (RTW) process by uncovering and categorizing the multiple roles assumed by the insurer based on the claimant’s perceptions and identifying the underlying mechanisms that explain the relationship between perceived insurer roles and occupational rehabilitation outcomes. The author used a qualitative approach with theory-guided content analysis to examine 24 semi-structured interviews with occupational rehabilitation claimants who had undergone occupational rehabilitation within the earnings-related pension insurance system in Finland. The author uncovered three perceived insurer roles in relation to other stakeholders in the rehabilitation network: financier, coordinator and leader. These roles have different perceived responsibilities and influences on rehabilitation outcomes. Additionally, the author found four perceived insurer roles in relation to the claimants, which varied according to their democracy and activity levels: ally, facilitator, enforcer or enemy. Based on this study, the author recommends that insurers adopt democratic and participatory actor roles (ally and facilitator) to promote the RTW process in occupational rehabilitation. This inaugural study applied role theory to insurers within the RTW process, developing a new framework of insurer profiles. This study reveals the dynamic nature of insurers and enhances the understanding of the connections between perceived insurer roles and rehabilitation outcomes.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-05-24
      DOI: 10.1108/QRFM-03-2021-0036
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • DARQ technologies in the financial sector: artificial intelligence
           applications in personalized banking

    • Free pre-print version: Loading...

      Authors: Gimede Gigante , Anna Zago
      Abstract: This paper aims to analyze the impact of DARQ technologies (distributed ledger, artificial intelligence, extended reality, quantum computing) in the financial sector, focusing on artificial intelligence (AI) applications in personalized banking, which consists of treating every customer as a segment of one. The research has two main goals. First, providing a complete and organic analysis of the DARQ technologies framework currently missing in the literature. Because this research focuses on the financial sector, more attention is dedicated to DARQ technologies in this industry. Second, studying applications of one of the DARQ technologies, AI, in personalized banking, where it appears to have a great potential impact. The research analyses both the supply side, collecting secondary data from documentation, reports and research studies to study the major trends and results obtained by leading banks, and on the demand side, collecting primary data through a dedicated survey and elaborating opinions and preferences of potential customers. Using this information, a detailed go-to-market plan based on the framework elaborated by Bain and Co. in 2012 is developed, considering the hypothesis of a well-known universal bank, operating globally, with an established brand and access to modern AI technologies, which decides to invest in this field as a priority. In addition to giving a detailed overview of DARQ technologies from a technical and a business perspective, the results related to the hypothetical case of the study help to understand which would be the most suitable target for the launch phase, which value proposition should be offered and how to deliver it, but also how to evolve the project to attract more customers and strengthen the relationship with the existing ones. Nevertheless, this research could be a starting point for future studies and updates, considering related evolutions, investigating more representative demand samples or analyzing how the combination of more DARQ technologies could be applied to the financial sector. Some limitations affect this work. First, the topics studied are evolving rapidly and partially dependent on other innovations under development; therefore, they may become obsolete and less significant in the next years. As regard the data collection, the supply-side analysis involves strategical information kept private by companies; therefore, the collected data probably miss some useful details. As concerns primary data, the sample could have been larger and more heterogeneous and biases and misinterpretations could have affected the answers. A compromise has been found between the time and resources available and the qualitative and quantitative characteristics of the sample. This research could be a tool for financial companies interested in investing in AI for personalized banking, but it also provides useful insights about the whole DARQ framework, which could be interesting for all the financial and nonfinancial firms. Applying AI effectively and efficiently could offer great benefits, both economic and noneconomic, to financial firms but also to their customers, who could benefit from hyper-tailored services at a reasonable and affordable price, whereas in the past, they were reserved only for very important person clients. This win-win situation could lead the way to further investments and consequent innovations in the future. Some issues still exist, mainly about data security and privacy, but also the social risk linked to the labor market due to the AI substitution for some tasks and the related shift in professionals required by employers, which could negatively affect the salary gap among workers with different levels of educations, tightening up existing inequality problems. An effort by public and private subjects will be required to make this transition inside the labor market smoother. Despite this, the research shows that AI applications in personalized m-banking could mutually benefit both the demand and the supply of the market. Apart from the organic overview offered on DARQ technologies and their related business applications, currently missing in the literature, which could be useful for a better comprehension of the topic and could also give interesting insights to firms, this research presents an original and concrete roadmap to follow for financial companies interested in delivering a personalized mobile banking service leveraging on AI. Every step presented in the output of this work is based on an in-depth analysis of past, and present actions carried out and result obtained by competitive firms on the market and on needs and preferences observed among potential customers.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-05-10
      DOI: 10.1108/QRFM-02-2021-0025
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Do international investors care about ESG news'

    • Free pre-print version: Loading...

      Authors: Paola de Vincentiis
      Abstract: Motivated by the increasing momentum of environmental, social and governance (ESG) investing, this research aims to test the impact of ESG-related news on stock returns, comparing different geographical areas to check whether the cultural background makes any difference. Using a classic event–study methodology, this study measures extra returns following the broadcast of positive or negative ordinary news concerning ESG issues using a panel of major international companies located in Europe, North America and the Asia-Pacific (APAC) region. ESG news are interpreted differently in different geographical areas. In Europe, bad news matter more than good news and produce a negative price impact. In the USA, a mirror picture emerges: good news matter more than bad news and produce a negative price impact. In the APAC area, ESG news are no news and are not correlated to significant extra returns. This study also shows that ESG reputation plays an important role and affects the impact of news on equity returns. Both managers and equity investors need to be aware of the potential magnitude and direction of stock market’s reactions to news concerning ESG matters, taking also into consideration the location of the firm and the moderating effect of ESG reputation. Sustainability cannot be ignored anymore and need to be included into information data set and decision-making processes. This study adds to the current literature insights on how ESG-related news impact in different geographical contexts. This study finds that news of similar tone may produce divergent effect on stock returns according to the prevailing cultural and economic interpretation of sustainability investments.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-05-05
      DOI: 10.1108/QRFM-11-2021-0184
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Governing Fintech for sustainable development: evidence from Italian
           banking system

    • Free pre-print version: Loading...

      Authors: Francesco Campanella , Luana Serino , Anna Crisci
      Abstract: Customer satisfaction has been traditionally the main goal aimed at by managers. Focusing on the banking industry, the importance of this concept is even greater because of the increasing focus of banks on mobile services to reach out to a larger set of customers. To investigate user’s behavior in a Fintech context, this study aim to focus on two relevant issues: service quality and perceived risk. For the purpose, the authors integrated a technology quality-based model with a green image perspective to investigate the impact on customer satisfaction in Fintechs users. The primary data is based on a survey directly taken from a questionnaire survey. The survey is collected by researchers. This research used probability sampling technique with convenience sampling. The data of this study data is derived from an online survey of Italian households performed between August 2020 and December 2020. In accordance to other studies, the questionnaires used Likert scale model that was conducted by measuring five categories of responses. For methodology, the authors analyzed data by structural model equations. The authors find that some of quality services factors impact on user satisfaction as well as the trust in Fintech providers. Moreover, the empirical findings highlight that the importance of a green reputation in Fintech providers from the perspective of consumer as it enhances both the trust and the satisfaction in internet banking services offered. It is needed to highlight that the most important thing for a Fintech provider is to secure loyalty and to be sustainable from a green perspective. The authors found that trust and green image give great influence on use intention. Therefore, it is most important for financial providers to develop financial products with trust and e-loyalty in mind. This study suggests that nowadays Fintech companies should invest more resources in the increasing of green image because it is positively associated with trust and customer’s satisfaction. The authors incentive the financial institutions to promote the sustainable development and green strategies in their planning as concern for the environment and sustainability affects consumers, who increasingly consider certain non-financial attributes in their investments, such as environmental, social and governance criteria. Future research that includes different cultural settings would enhance generalizability and external validity as the respondents all live in Italy. For the purpose, the authors integrated a technology quality-based model with a green image perspective to investigate the impact on customer satisfaction in Fintechs users. This paper, to the best of the authors’ knowledge, is the first to study consumer satisfaction in Fintech context in this sense. Although existing research has investigated relevant aspects of customer trust, satisfaction, these issues have not been discussed from a green perspective. Apart from that, the main contribution of this paper is its exploration of the influence of green image on loyalty and satisfaction. To the best of the authors’ knowledge, however, no studies have been done on sustainable banking in Italian banking sector, focused on Fintech services. In this paper, the authors attempt to fill this research gap.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-05-03
      DOI: 10.1108/QRFM-01-2022-0009
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Qard Hasan as a feasible Islamic financial instrument for crowdfunding:
           its potential and possible application for financing micro-enterprises in
           Malaysia

    • Free pre-print version: Loading...

      Authors: Abdulmajeed Muhammad Raji Aderemi , Muhammad Shahrul Ifwat Ishak
      Abstract: This paper aims to explore the viability of applying Qard Hasan as an Islamic crowdfunding financial instrument to finance micro-enterprises in Malaysia. This is a qualitative study in which semi-structured interviews were conducted with several crowdfunding professionals concerning the application of Qard Hasan in Islamic crowdfunding. To realise the purpose of this study, the data is subjected to thematic analysis. The finding reveals that though it is often argued that Qard Hasan is basically not a business-oriented instrument, a closer look at the framework reveals the uniqueness and flexibility of this instrument to be adopted as a viable financial instrument for crowdfunding in financing micro-enterprises in Malaysia. Although it is associated with various risks including default risk and the risk of attracting big funds. However, these risks can be managed and overcome by using FinTech mechanisms such as blockchain to carry out due diligence, monitor the project and ensure the repayment in installment. The findings of this study may not be suitable for generalisation to all crowdfunding practices as the semi-structured interview is concentrated predominantly in Malaysia. However, it still provides valuable contributions to the Islamic crowdfunding sector in Malaysia between theory and practice. The Qard Hasan crowdfunding framework in this study can potentially be applied to help micro-entrepreneurs reach out to financial services within their means. This framework provides means to grow the micro-enterprise sector. Qard Hasan crowdfunding will effectively alleviate poverty by creating an avenue of opportunities for business enterprises and close the gap between the wealthy and the poor classes in society, which will eventually bring about more cooperation, more collaboration and cultivate a generous society. In spite of the fact that Islamic crowdfunding is not a new topic in research, it lacks empirical studies, particularly qualitative analysis. As this study engages with experts in Shari’ah and crowdfunding regarding the potential application of Qard Hasan, it highlights a fresh discussion both in theory and practice.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-05-03
      DOI: 10.1108/QRFM-08-2021-0145
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Introducing an Islamic equity-based microfinance models for MSMEs in the
           State of Libya

    • Free pre-print version: Loading...

      Authors: Zainab Belal Lawhaishy , Anwar Hasan Abdullah Othman
      Abstract: This study aims to propose and verify the suitability and applicability of Islamic equity-based microfinance models for financing micro, small and medium enterprises (MSMEs) in the State of Libya. The proposed models combine the unique features of social solidarity, cooperation “Ta’awan,” meeting religious requirements and providing financing more fairly and equitably. A qualitative approach is applied in this study through semi-structured interviews with several Libyan experts, including Islamic bankers, Shariah scholars, MSMEs experts, Islamic microfinance experts and academicians. The data collected from 2019 to 2021 and thematic analysis by computer-based software NVivo is used to analyze the data. The results indicate that the proposed Islamic equity-based microfinance models are suitable and applicable in Libya. This study also reveals that the proposed models have numerous potential benefits not only in meeting the financial needs of MSMEs but also in meeting the government objectives in economic divarication and socioeconomic development. First, the study proposes the applicability and suitability of Islamic equity-based models in financing MSMEs only, while large firms are excluded from the study. Second, the study only proposes and tests the applicability of Islamic equity-modes of financing contracts, namely, Musharakah and Mudarabah, while Islamic debt-based financing models are not included. Finally, as there is no practical evidence of using those models for financing MSMEs in Libya, this study lacks empirical evaluations of equity models’ real benefits on income, employment generation, living standards improvement and business growth and sustainability. Given the importance of the MSMEs sector for the State of Libya’s economic growth, it is expected that the findings of this study can be of assistance in formulating guidelines and implementing Islamic equity-based microfinance programs. Besides, it can be a valuable source of information for policymakers for improving the functions of the current microfinance programs in the country. Additionally, as studies concerning Islamic alternative models for financing MSMEs are scarce, the current study can also be a reference point for researchers, academicians, practitioners and other stakeholders. Providing capital support for the underfunded economy segment, attracting small savings, increasing investments and developing entrepreneurial skills could lead to improved economic productivity and growth. The present study proposes the structure of Islamic equity-based microfinance models for MSMEs in Libya and verifies the suitability of those proposed models among Libyan experts. To the best of the authors’ knowledge, no study has been conducted on uncovering and exploring the potentials of Islamic equity-based microfinance models for financing MSMEs in Libya.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-04-25
      DOI: 10.1108/QRFM-01-2021-0017
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • An interwoven financialization narrative as a driver of the 2008 Crash

    • Free pre-print version: Loading...

      Authors: Jonathan Myers
      Abstract: The 2008 Crash (the Crash) has been attributed to the dominance of financialized corporate governance, particularly an increased shareholder value rhetoric. Following the Crash, this extreme narrative is understood to have become less financialized through increasingly favouring stakeholders. The purpose of this research is to investigate this often-accepted view using field theory, wherein managers' biases in the value-creating process result from an interconnected, dynamic, multi-actor discourse. Various domains across the UK’s corporate governance environment, from the perspective of field theory, generate the complex discourse: corporate and regulatory domains, stakeholder organizations such as the press and think tanks. Domain-specific corpora, representative of this multi-actor field, were constructed, with financialization analysed by assessing managers’ altering biases concerning the relative importance of shareholders and stakeholders (amongst other factors like time horizon) to value creation. Highlights of the multiple findings include the following: corporate narrative about value creation became less financialized following the Crash, yet favouring shareholders, while the multi-actor discourse for the UK economy as a whole became slightly more financialized. Analysing a multi-actor discourse is complex. And this, to the best of the author’s knowledge, is the first study of its kind, and only made possible with the original methodology of narrative staining. The approach, while having particular relevance to field theory, is applicable to many other narrative-based research scenarios.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-07-13
      DOI: 10.1108/QRFM-04-2021-0060
      Issue No: Vol. 14 , No. 5 (2022)
       
  • Mobile financial services (MFS) and digital inclusion – a study on
           customers’ retention and perceptions

    • Free pre-print version: Loading...

      Authors: Dilruba Afroze , Faria Islam Rista
      Abstract: Mobile financial service (MFS) is a fast-growing industry in the emerging markets of Asia, Africa and the Middle East. It provides benefits to economically marginalised people who are excluded by formal financial channels. While many people tend to use MFSs, several others do not. Therefore, the purpose of this study is to explore customer loyalty with a specific focus on understanding the user behaviour of MFSs in Bangladesh. The authors conducted 12 in-depth personal interviews with various types of users from the urban area of Bangladesh to comprehend their perceptions about the use of MFS. Thematic analysis was used to analyse the interviews and understand the behavioural patterns of the respondents. The authors found a gap between the registered users and active users of MFS and found some interesting factors leading to this phenomenon. These are dependency, lack of basic digital literacy, lack of perceived usefulness, lack of perceived ease of use, security concerns and transaction costs. The present study also suggested that if employers make it mandatory for employees to get their salaries through MFS, it will increase the number of active users. In addition, this study extensively focused on the behavioural patterns of women using MFS. The study’s key practical implication is that MFS providers investments towards adding new features result in improved relationships with users and retain them in the market. Some of these factors have not been previously documented in the literature. For example, female dependency on their male counterparts while using MFS is an interesting issue that needs to be minimised, as suggested by the present research findings.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-04-04
      DOI: 10.1108/QRFM-06-2021-0095
      Issue No: Vol. 14 , No. 5 (2022)
       
  • Inside the black box of institutional investors in an emerging market: the
           role of sell side analyst outputs

    • Free pre-print version: Loading...

      Authors: Arit Chaudhury , Seshadev Sahoo , Varun Dawar
      Abstract: In the backdrop of emerging market setting of India, this study aims to attempt to identify how Institutional investors use sell side analyst outputs for their decision-making processes in light of inherent biases in their forecasts and recommendations. The study also conceptualizes the role of internal buy side teams in the process and try to figure out the key attributes and services provided by sell side analysts, which provide maximum value to the investors. The study is centered upon in-depth semi-structured interviews of ten institutional investors from top Indian asset management companies covering a wide range of topics tied back to theoretical explanations. The data collected was transcribed, coded and analyzed using content analysis to ensure a systematic synthesis of point of view. The findings show that internal analyst teams of institutional investors play a dominant role in terms of validation of sell side analysts’ outputs (given the inherent biases in sell side analyst forecasts). Further, the engagement of sell side analysts by the investors are determined not only through profitable recommendations but also on the basis of soundness of the investment rationale along with other services provided. Finally, this study puts into perspective, the critical role of analyst industry knowledge and access to company management (as opposed to analyst pedigree and forecast accuracy) for institutional investors decision-making. The findings of the paper have profound implications for various stakeholders such as companies, sell side analysts, policy makers, researchers and students of finance in terms of detailed understanding of investment processes of institutional investors in the context of emerging markets like India, which have a different legal and regulatory set-up compared to developed markets. The authors also provide a critical perspective through an intriguing paradox that exists between finance theory and its relevance for actual practitioners. To the best of the authors’ knowledge, this is the first study in India which look inside the “black box” of institutional investors and their decision-making process, especially with respect to how they use sell side outputs.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-03-23
      DOI: 10.1108/QRFM-05-2021-0086
      Issue No: Vol. 14 , No. 5 (2022)
       
  • Money creation and commercial banks’ money lending activity through the
           accounting treatment: stakeholders’ perceptions in Malaysia

    • Free pre-print version: Loading...

      Authors: Md Shamim Hossain , Ahmed Razman Abdul Latiff , Mohammad Noor Hisham Bin Osman
      Abstract: The purpose of this study is to explore stakeholders’ perceptions on money creation and the impact of the accounting treatment for commercial banks’ money lending activity in Malaysia. A phenomenological approach was used to examine the stakeholders’ perceptions through experience-sharing. A semi-structured interview approach was used to collect the data. Ten individuals from different stakeholder groups have been interviewed with their prior consent. For the data analysis, the current study adopted the inductive thematic approach. Perceptions on money creation are influenced by the informants’ understanding and awareness of the research issue. Informants have agreed on the accounting treatment (debit loan and credit deposits) but explained the impact of this accounting treatment differently. The accounting treatment creates an opportunity for the commercial banks to create money as they want, and hence, the excess created money can create inflation and threat for the potential financial crisis. On the contrary, it is argued that money creation results from the systematic approach of the fractional reserve banking (FRB) in Malaysia. In addition, this money creation is not a threat to the economy as long as there is a strong controlling role of Bank Negara Malaysia (BNM). Stakeholders’ perception indicates that awareness of the research issue can be a cause of crucial consequence for money lending activity. Moreover, this study may stimulate the chief regulatory body such as BNM, the central bank of Malaysia, to be more cautious in controlling the commercial banks’ money lending activity to prevent the potential future crisis. Furthermore, findings may help to explain the conflicting concept between the textbook explanation for FRB and current commercial banks’ money lending practice through the accounting treatment. Monitoring and controlling of money creation and commercial banks’ money lending activity by BNM can be benefited from the stakeholders’ perceptions on this research issue. Because this is the first time study of the stakeholders’ perceptions on money creation and commercial banks’ money lending activity in Malaysia and hence, findings of this study may be worked as the input in the process of monitoring and controlling the money creation activity in Malaysia.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-03-23
      DOI: 10.1108/QRFM-07-2021-0110
      Issue No: Vol. 14 , No. 5 (2022)
       
  • Risk management practices of Islamic microfinance institutions to improve
           their financial performance and sustainability: a study on Baitut Tamwil
           Muhammadiyah, Indonesia

    • Free pre-print version: Loading...

      Authors: Mutamimah Mutamimah , Zaenudin Zaenudin , Widiyanto Bin Mislan Cokrohadisumarto
      Abstract: This study aims to explore the risk management practices of Islamic microfinance institutions (IMFIs) to increase their financial performance and sustainability. This research used a qualitative approach to increase financial performance and sustainability. The study population comprised the Baitut Tamwil Muhammadiyah (BTM) in Central Java Province, Indonesia. The data collection techniques included questionnaires and an in-depth interview, and the framework was validated by the main participants. This study showed that BTMs have implemented risk management using different standards. However, such risk management is carried out partially while prioritising certain risks and using different methods. The risk of Sharia compliance is the most recognised risk, while financing and operational risks are the most anticipated, because these two risk types directly impact financial performance and sustainability. In general, a risk management model can improve financial performance and sustainability. Nevertheless, there are obstacles in implementing risk management at BTMs, which include weak human resources, the employee selection process, human resource development and a good control system. This research explored best practices for risk management in IMFIs and may contribute to the development of risk management in such institutions to maintain the financial performance and sustainability of their services.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-03-18
      DOI: 10.1108/QRFM-06-2021-0099
      Issue No: Vol. 14 , No. 5 (2022)
       
  • Socio-economic development through self-help groups in rural India –
           a qualitative study

    • Free pre-print version: Loading...

      Authors: Vinay Kandpal
      Abstract: Through a thematic analysis, this research study aims to examine the role of microfinance institutions (MFIs) and self-help groups (SHGs) in empowering rural women and their contribution to financial inclusion in India. Sustainable development can be achieved when resources are equally available and accessible for all, irrespective of gender differences. For qualitative research, the response was collected through focused group discussion and gathered responses from members working in SHGs in Uttarakhand in India. Thematic analysis was done to analyse the data till the saturation level was reached. Despite several socio-economic developments worldwide, women still fall among some of the most vulnerable communities, unable to access resources at par with men. Thus, women’s empowerment emerges as a theme central to sustainable development. MFIs are looking to empower women by increasing their savings habits. There are consistent efforts on the part of the government to formalize the system of SHGs and give them additional financial support by creating a proper link between the banking system and SHGs. We also need technology and innovation for creating financial literacy among women. Women’s empowerment cannot be achieved unless they are involved in financial inclusion by creating awareness. The research focuses on people’s socio-economic development, especially women living in hilly and rural areas within the specific context of Uttarakhand in India. This research will provide an opportunity for strategic approaches and reveal the areas where government needs to focus for sustainable development.
      Citation: Qualitative Research in Financial Markets
      PubDate: 2022-03-15
      DOI: 10.1108/QRFM-10-2021-0170
      Issue No: Vol. 14 , No. 5 (2022)
       
  • Qualitative Research in Financial Markets

    • Free pre-print version: Loading...

       
 
JournalTOCs
School of Mathematical and Computer Sciences
Heriot-Watt University
Edinburgh, EH14 4AS, UK
Email: journaltocs@hw.ac.uk
Tel: +00 44 (0)131 4513762
 


Your IP address: 3.239.112.140
 
Home (Search)
API
About JournalTOCs
News (blog, publications)
JournalTOCs on Twitter   JournalTOCs on Facebook

JournalTOCs © 2009-