When Does ESG Create Value? Corporate Governance as a Moderating Mechanism in Indian Firms
The study analyzes 711 firm-year observations across 341 firms listed on the National Stock Exchange of India between 2019 and 2023.
Academic research
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Beyond the Funding Gap: Mobilising Domestic Capital Under Institutional Thinness: The Domestic Capital Flywheel
Africa attracts less than 1 percent of global venture capital, with more than 80 percent concentrated in just four countries.
Entrepreneurial Intention in Graduates of the Technical University of Machala: Motivations, Obstacles, and Opportunities for Institutional Strengthening
The study analyzed a sample of 70 graduates out of a total population of 445 graduates from the Faculty of Business Sciences at the Technical University of Machala.
The Administration of Financial Institutions and the Social Economy
Poland has around 100,000 social economy entities operating in its socio-economic landscape.
Productive Finance for the Belt and Road Initiative: Reexamining China’s Debt Sustainability Framework
China committed over $1.3 trillion in development finance to the Global South between 2000 and 2021.
Electronic Money: Expected Changes in the Economy, Banking System, and Daily Life in Uzbekistan by 2030
At the beginning of 2026, the registry of electronic money systems of the Central Bank of Uzbekistan contained 12 registered systems.
Investment Landscape and Ecosystem Climate in Sri Lanka: Mapping Angel Investment, Venture Capital, and Crowdfunding
Sri Lanka recorded record foreign direct investment inflows reaching $1.04–1.06 billion in 2025, up from $759 million in 2024, alongside stock market record highs.
Powering Development? Chinese Energy Investment, Artificial Intelligence, and Local Electrification in Africa
In 2023, roughly 666 million people lived without access to electricity, with 85 percent of them located in Sub-Saharan Africa.
Digital Laggard, FinTech Frontrunner? Neobanks and the Paradox of Digital Adoption in Bulgaria
In 2025, 86.5 per cent of Bulgarians aged 16 to 74 used the internet regularly, while internet banking usage remained significantly lower at 31.1 per cent.
Pricing the Bet Stack: A Segment-Level Monte Carlo and Real-Options Valuation of SpaceX to 2030 and Its Lessons for Indonesian Retail and Student Investors
SpaceX closed on 2 October 2026 at a market value of about $2.16 trillion, representing more than eighty times its trailing revenue.
Institutional Support, Digital Tools and Bank-Based Financial Inclusion of Women Entrepreneurs in Morocco's Informal Sector: An Analysis of Associated Factors
In a survey of 138 women operating unregistered businesses in Morocco's Fès-Meknès region, 42.0% (58 participants) actively use a bank account for their business.
Abnormal Returns in the Context of Investor Sentiment: Testing the Hot IPO Market Cycle in Borsa Istanbul
The study analyzes the short-term return performance and investor sentiment for 89 companies that completed initial public offerings on Borsa Istanbul, comprising 56 in 2023 and 33 in 2024.
Signaling ESG Disclosure Readiness Before Listing: Text-Mining Evidence from Indian IPO Prospectuses
The study analyzes a sample of 310 non-financial operating-company initial public offering prospectuses in India issued from FY2021-22 to FY2025-26.
Post-Listing Performance of Initial Public Offerings: Evidence from IPOs Listed Over the Last Three Years
The empirical study evaluates the post-listing returns and pricing efficiency of a sample of 179 initial public offerings over a three-year period (2022–2025).
Board Gender Diversity and IPO Underpricing: The Moderating Role of Managerial Ownership in the Banking Sector
The study analyzes a sample of 21 banks that conducted an IPO on the Indonesia Stock Exchange during 2010–2025 across 12 regression models.
Staged Financing Beyond the Venture Record: Equity Rounds in the Accounts of Italian SMEs
The dataset covers 3,225 certified innovative SMEs over 2016–2025, observing 2,991 priced capital increases across 1,330 firms.
Application of Hierarchical Agglomerative Clustering for the Segmentation of Startups in Latin America
The study gathered data on 1,274 active Latin American startups after excluding 533 inactive companies.
A Settlement Currency to Finance Climate Restoration and Human Prosperity
Holding carbon dioxide removal at 9.5 GtCO₂ per year after 2183 in the FaIR ensemble returns median atmospheric CO₂ to 280 ppm in 2300.
The Impact of External Constraints on Access to Finance and the Growth of Innovative Startups in Morocco: A Mixed-Methods Empirical Study
The study investigates external financing constraints across a population of 478 identified innovative startups in Morocco, analyzing a representative sample of 220 startups.
Adoption of the Fintech Services among Young Entrepreneurs
Digital wallets are used by 54% of respondents, and online lending platforms show an adoption rate of 28%.
Comparative Evaluation of Machine Learning Models for Credit Card Approval Prediction Using Class Imbalance Handling Methods
The study comparatively evaluates machine learning models using different class imbalance handling strategies on a dataset of 25,128 credit card applications.
Market Efficiency and Predictable Supply Shocks: Short-Selling Returns Around IPO Lockups
A systematic backtest on 26 usable post-listing restricted-share events from 2020 through 2025 evaluated short-selling returns around lockup expirations.
Mobile Banking Growth and Operating Efficiency in Indian Commercial Banks: Evidence from Ten Public and Private Sector Banks, FY2017-18 to FY2024-25
Average monthly mobile banking transactions of the ten studied banks grew from 106 million in FY2017-18 to 10,985 million in FY2024-25.
Electronic Banking Services and Their Role in Enhancing Financial Performance of Commercial Banks in Ethiopia
Initial ATM adoption in Ethiopia began in the early 2000s, followed by mobile and internet banking growth after 2011.
The Role of the International FinTech Market in Shaping Investment Support for Global Food Security
High costs of credit, lack of collateral, and elevated agricultural risks restrict small and medium producers from accessing capital for modernization.
Short and Long Shadows of Financial Investments
Financial markets operate across two temporal horizons: the speculative Short Future Shadow and the physical Long Shadow.
Ranking, Not Point Estimates: Risk Tiering and the Case for AI-Assisted Loss Data in Caribbean SIDS Credit
Official lending rates across the Caribbean range from 5% to 15%, with public debt burdens exceeding 100% of GDP in several states.
Does Earnings-Call Climate Exposure Improve Machine-Learning Forecasts of Stock Downside Risk? Out-of-Sample Evidence from U.S. Firms
The study evaluates out-of-sample forecasts of downside risk for 1,792 U.S.-listed non-financial firms across 15,521 firm-years from 2012 to 2024.
Digital Infrastructure Integration and Capital-Market Resilience in a Frontier Exchange: A Longitudinal Panel and Coefficient-Decomposition Analysis of the Nairobi Securities Exchange
The study analyzes a balanced panel of 53 ordinary equity securities continuously listed and traded on the Nairobi Securities Exchange over the 2021-2025 period.
Zakat Management as a Tool for the Economic Empowerment of the Muslim Community: An Empirical Study of BAZNAS's Role in Improving Community Well-Being
BAZNAS's business capital assistance program in City X increased average mustahik income by 25–30%.