Finance and Financial Management Commons^™

Do Hacker Groups Pose A Risk To Organizations? Study On Financial Institutions Targeted By Hacktivists, Mikko Samuli Niemelae

Dissertations and Theses Collection (Open Access)

Publication date: 5 September 2023

In the digital era, technological progress has been shadowed by an escalation in cybersecurity threats, notably impacting the financial sector. This research critically examines the influence of hacktivist campaigns—particularly those led by groups like Anonymous—on the cyber exposure of financial services firms listed on the NYSE. Employing Synthetic Controls and analyzing 22 treated firms, the study found that such campaigns significantly enhance the target institutions' deep and dark web exposure, with an average increase of 65% per annum in the subsequent two years from the campaign initiation. Crucially, smaller firms display a heightened susceptibility to …

An In-Depth Analysis Of The Impact Of Cyberattacks On The Profitability Of Commercial Banks In The United States, Asligul Erkan-Barlow, Thanh Ngo, Rajni Goel, Denise W. Streeter

Journal of Global Business Insights

This study examined the effects of cyberattacks on the profitability of U.S. public and private commercial banks using a sample of 120 data breaches across various institutions. The results showed that cyberattacks negatively influence bank profitability, with effects more robust in the 12 quarters following a breach, especially from non-hack breaches. Large and private banks suffer more than small and public banks, with breaches resulting in decreased deposits and loans and increased liquidity. These changes are confirmed as independent channels reducing bank profitability. The results were robust after controlling for factors like multicollinearity, non-stationarity, cross-sectional dependence, and heteroskedasticity.

Option Market Maker Hedging And Stock Market Liquidity, James O′Donovan, Gloria Yang Yu, Jinyuan Zhang

Research Collection Lee Kong Chian School Of Business

This paper demonstrates that option market maker hedging impacts the liquidity of underlying stocks. Options contracts have zero net supply, and option market makers engage in delta hedging to manage the risk of their net imbalances, unlike option end-users. Consequently, when option market makers hold a net short (long) position, their dynamic hedging demands liquidity from (or supplies liquidity to) the underlying stock, leading to market destabilization (or stabilization). Leveraging proprietary option exchange data that categorizes option trading by trader type, we document this effect and show that it is stronger for stocks where liquidity supply is expected to be …

The Cost Of Cheap Talk: How Campaign Promises And Default Contributions Affect Donation-Based Crowd Funding Success, Tianci Leon Qiu

Dissertations and Theses Collection (Open Access)

Non-profit organisations (NPOs) find it increasingly harder to engage donors and raise funds from the public. Post-pandemic: the emphasis on tactics to raise funds online through donation-based crowdfunding (DCF) platforms has surged in importance for both NPO survival and continued beneficiary aid. However, unlike equity-based crowdfunding platforms where campaign organisers are obligated to provide investors with tangible returns based on funding milestones, NPOs on DCF platforms do not have to adhere to any funding milestones or are beholden to any tangible obligations towards donors. Consequently, NPOs are greatly incentivised to deploy cheap talk – non-binding, unverifiable messages and claims to …

Structural Identification Of Pair Trades, Yi Liu

Dissertations, Theses, and Capstone Projects

This dissertation examines the structural identification of pair trades based on company fundamentals, stock price paths, and company’s capacity to transform fundamentals into value. The dissertation consists of four chapters. Chapter 1 lays the foundation for the study of pair identification. It designs the pair trading procedure and defines the trading performance measure. It also reviews and compares the performance of commonly used pair identification metrics in the literature, including normalized price squared distance, return correlation, and co-integration tests. Among the three metrics, the squared price distance represents the most effective metric and generates the best pair trading performance. The …

Macroeconomic Determinants Of Non-Performing Loans In Malaysia, Hui Ying Tan, Tuck Cheong Tang

International Journal of Management, Finance and Accounting

This study re-examines the macroeconomic variables those explaining the outstanding balance of non-performing loans (NPL) in Malaysia, namely interest rate, unemployment rate, output, and price level. It covers 11 financing sectors between commercial and Islamic banks, for examples, primary agriculture, electricity, gas and water supply, manufacturing, household sectors, and so on. The data covers monthly observations for the period 2019-2021. Given non-stationarity property in nature for the variables, the ordinary least square (OLS) estimator applies for the first-differenced variables. The empirical results show that higher output reduces overall NPL including of Islamic banks but is inelastic. The past NPL explains …

A Systematic Review: Risk Management Of Cloud Computing Projects In Healthcare, Muhammad Afif Fathullah, Anusuyah Subbarao, Saravanan Muthaiyah

International Journal of Management, Finance and Accounting

Cloud computing has become a major driver for innovation in this technological age. All sectors around the world have increasingly moved towards cloud adoption including the healthcare sector. However, cloud computing projects with other IT projects come with their own set of risks that could be costly for organizations if they materialized. This study aims to provide an understanding of the risks of cloud computing projects in healthcare by using a systematic literature review augmented by the constant comparison method.63 articles from five major databases written from the year 2010 to 2022 were reviewed as they are related to cloud …

Factors Affecting Customer Satisfaction On Online Shopping: An Empirical Study, Fong Yok Yan, Tan Booi Chen, Lau Teck Chai

International Journal of Management, Finance and Accounting

This paper examines the effect of website layout, privacy and security, customer experience, customer service, and product delivery service on online shopping satisfaction in Malaysia. With swift economic development and advanced digital technology infrastructure, online shopping in Malaysia is undergoing transformation. Businesses are advised to change their business operation towards digitalization. In this study, the survey link containing the questionnaire was sent to 300 respondents randomly via several online social media platforms. As a result, 257 responses were received with 85.67% of the response rate. Based on the findings from the multiple regression analysis, website design, customer experience, and product …

The Necessity Of Financial Literacy For Women Business Triumph: A Qualitative Study, Nur Iylia Syafiqah Binti Abdul Malik, Mohd Rizal Bin Abdul Razak, Al-Mansor Bin Abu Said

International Journal of Management, Finance and Accounting

Women entrepreneurs continue to be the torchbearers of society and nations in their pursuit of economic growth and social development through employment creation, innovation and poverty reduction. Nonetheless, financial literacy is an intangible resource that is required for growth, success, and long-term competitive advantage. However, a notable hindrance to the progress of women entrepreneurs is the absence of adequate financial literacy. The objective of this research was to ascertain the importance of financial literacy concerning the achievement of women entrepreneurs. In order to achieve the research objectives, a qualitative investigation was conducted, wherein interview data was gathered according to the …

Perceptions Of Islamic Banking Among Post Millennials: A Study On Muslim Students, Aysa Siddika, Abdullah Sarwar, Fouzia Khan

International Journal of Management, Finance and Accounting

This study aimed to understand the perception of Islamic banking among post millennials Muslim students and explore their expectations towards Islamic Shariah compliant banking. The study uses qualitative method to understand respondents’ subjective views. Semi-structured interviews are used among the Muslim students studying at public and private universities in Malaysia. Twelve students were selected using purposive sampling. The analysis revealed that religious motives, efficient services, and convenience in terms of online banking and ATM services are factors in bank selection. The study found that the students’ perceptions of their understanding of Islamic banking are not sufficient, and there is a …

Exploring The Role Of Technology In Brunei Darussalam's Public Sector During Strategy Implementation, Afiqah Amin

International Journal of Management, Finance and Accounting

The paper explores and isolates factors related to the role of technology during strategy implementation in the public sector. In pursuit of the objective, the actor-network theory (ANT) is used to explore the relationship between the entities in the public sector in using technology to implement strategy, which does not just involve the technical aspect but also the behavioural and organizational aspects. A qualitative exploratory study can better understand the role of technology infrastructure in the public sector by analysing the conceptions of organizational players that require technology to implement the strategy. Technology infrastructure in the public sector was perceived …

Managing The Nigerian Economy Through Fiscal Deficit, Umar Bala, Badamasi Salihu Uba, Adamu Yahuza Haruna

International Journal of Management, Finance and Accounting

This study examined how fiscal deficit, exchange rate, and inflation rate impacted the economic growth of the Nigerian economy from 1980 to 2019. The cointegration connection in the study was discovered using the autoregressive distributed lag (ARDL) bound test. The analysis found that, while inflation and the exchange rate have a positive and significant relationship with the Nigerian economy, the fiscal deficit has a negative but relatively insignificant effect on the country's GDP. The Nigerian government should stabilise the currency's external value and prevent it from falling in value in the short term. Such policies should be developed to encourage …

Organizational Fear: Barriers To Effective Performance Among Malaysian Fresh Graduates’ Employees, Leong Ling Ling, Chong Chin Wei, Muhammad Sabbir Rahman, Gan Geok Chew

International Journal of Management, Finance and Accounting

The aim of this research study is to determine the factors, i.e., childhood socialization, institutional socialization, cultural socialization, fear of workplace penalty and afraid of getting terminated from work of organizational fear that influence the effective performance among the Malaysian fresh graduate employees. Data were collected from 119 fresh graduate employees who have their jobs in their first year in organization and data was analysed by using statistical analyses. The findings show that all the factors (childhood socialization, institutional socialization, cultural socialization, fear of workplace penalty and afraid of getting terminated from work) have significant relationships with effective performance. Among …

Knowledge Mapping Of Board Governance Research: A Visual Analysis Using Citespace, Yawei He, Sunita Lylia Hamdan, Sellywati Mohd Faizal

International Journal of Management, Finance and Accounting

Based on the bibliometric and visualization analysis of relevant board governance research literature from 2003 to 2022, this study summarizes and outlines the knowledge structure, hot topics, and future research directions in the field of board governance. The research findings indicate that the publication volume in the field of board governance has shown an exponential growth trend, which highlights the increasing importance and research demand in this area. Company performance has become a critical topic in the field of board governance research. Furthermore, collaboration and communication among research institutions promote knowledge sharing and enhance the quality of board governance research. …

Mastering Consumer Conversion: Unveiling The Management Of E-Commerce Purchase Intentions, Anusuyah Subbarao, Nasreen Khan, Nirmaladevi A/P Suppiah

International Journal of Management, Finance and Accounting

The global market structure has undergone significant transformations due to the widespread integration of information technology. As a result, electronic commerce has emerged, propelled by technological advancements, and has established itself as a fundamental pillar of the digital economy. This research paper aims to provide a thorough analysis and evaluation of various scholarly works and studies concerning digital shopping and explore the factors that impact consumers' purchasing behaviour on e-commerce sites. The quantitative method was used to analyse the connection between price consciousness, trustworthiness, business competency with customer buying inclination, perceived convenience and effectiveness. The findings reveal that trustworthiness and …

Forecasting Stock Indices With The Covid-19 Infection Rate As An Exogenous Variable, Mohammad Saha A. Patwary

School of Computing and Informatics

Forecasting stock market indices is challenging because stock prices are usually nonlinear and non- stationary. COVID-19 has had a significant impact on stock market volatility, which makes forecasting more challenging. Since the number of confirmed cases significantly impacted the stock price index; hence, it has been considered a covariate in this analysis. The primary focus of this study is to address the challenge of forecasting volatile stock indices during Covid-19 by employing time series analysis. In particular, the goal is to find the best method to predict future stock price indices in relation to the number of COVID-19 infection rates. …

Cultural Distance And Momentum Effect—The Case Of Cross-Listed Companies In The United States, Ling Liu

Doctoral Dissertations (DBA)

This paper examines the momentum effect in U.S. cross-listed companies, exploring the relationship between cultural distance and momentum portfolio formation, and how cultural distance affects momentum portfolio returns for US cross-listed firms. The study selects cross-listed companies from January 2001 to December 2022 and create momentum portfolios (Chui, Timan, & Wei, 2010) to test the momentum effect of cross-listed companies in the United States. The cultural distance for cross-listed companies is then calculated using the within-group cultural diversity method (Frijns, Dodd, & Cimerova, 2016) and the Hofstede (2001) dimensional method to find the momentum effect in cultural distance sorted groups. …

Exploring Occupational Therapy’S Role In Foster Care: A Mixed Methods Study On Financial Literacy Education For Foster Youth, Ashley Carmichael, Karen Park

Summer 2023 Virtual OTD Capstone Symposium

Background: Foster youth are children under 21 years old who have been removed from their homes due to neglect or abuse and are susceptible to early adversity and trauma (Alternative Family Services, n.d.; AOTA, 2017). Financial literacy is the knowledge and skills to take control of finances (National Financial Educators Council, n.d.). In the foster care setting, occupational therapists (OTs) provide client-centered care that traditionally focuses on transitional life skills, such as seeking employment (American Occupational Therapy Association [AOTA], 2017).

Problem/Purpose: The lack of resources for foster youth to gain financial literacy skills leads to a disadvantage in …

Determinants Of Net Interest Margin For Banks Operating In Pales-Tine, Islam Abdeljawad, Ajyad Bahlaq

An-Najah University Journal for Research - B (Humanities)

The goal of this research is to identify the factors that influence the net interest margin (NIM) for Palestinian conventional banks. Palestine is a unique country with poor governance, political uncertainty, and regulatory insufficiency, adding higher information asymmetry to the decision-making process. The sample is comprised of unbalanced panel data from 15 commercial banks for the period 2011–2020. The research used a pooled OLS, a fixed-effect model, a random effect model, a robust pooled OLS, a difference GMM, and a system GMM estimators. Evidence collected supports that net interest margin is positively influenced by risk aversion, operating costs, and loan-to-deposit, …

E-Dsge Model With Endogenous Capital Utilization Rate, Ying Tung Chan, Maria Teresa Punzi

Sim Kee Boon Institute for Financial Economics

Environmental policy research has increased due to stricter policies aligned with climate goals. However, to achieve the goal of net-zero emissions, the adoption of even stronger policies and increased carbon taxes is necessary, with transition risk becoming a major concern for companies. Even though governments worldwide have been employing a range of methods such as carbon tax, cap-and-trade, and intensity targets to mitigate the impact of climate change, a pivotal debate around determining the optimal policy that reduces emissions without harming the economy continues. Our paper delves into the environmental policy assessment emphasizing the role of endogenous capital utilization rates, …