Forthcoming Articles

International Journal of Financial Services Management

International Journal of Financial Services Management (IJFSM)

Forthcoming articles have been peer-reviewed and accepted for publication but are pending final changes, are not yet published and may not appear here in their final order of publication until they are assigned to issues. Therefore, the content conforms to our standards but the presentation (e.g. typesetting and proof-reading) is not necessarily up to the Inderscience standard. Additionally, titles, authors, abstracts and keywords may change before publication. Articles will not be published until the final proofs are validated by their authors.

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International Journal of Financial Services Management (3 papers in press)

Regular Issues

  • Impact of Stock Market Capitalisation on Firm Performance: Revisiting the European Firms   Order a copy of this article
    by Nafisa Ahmad, Tanzina Akhter, Paolo Saona, Mohammad Zahir Raihan, Md. Abul Kalam Azad 
    Abstract: This study seeks to rigorously re-examine the intricate relationship between stock market capitalization and corporate performance within the European context, contributing to the existing corpus of literature on market capitalization and financial growth. In the methodology, we employ the fixed effects model to investigate the micro- and macroeconomic effects within each country's economy. The analysis is based on a dataset drawn from selected European countries covering the period from 2010 to 2020. To control for company-level metrics, we utilize data from the Heritage Foundation's Index of Economic Freedom. We validate model robustness checks by means of two-step system GMM estimation. As we uncover relationships between stock market capitalization and corporate performance, we witness surprisingly little interest that researchers in the field display. To test further, we inspect the impact of equity market capitalization on GDP growth using regulatory and institutional indicators as context variables. The results reveal that the performance of individual firms significantly influence the macroeconomic discussion in a novel way.
    Keywords: stock market capitalisation; firm growth; firm performance.
    DOI: 10.1504/IJFSM.2025.10074915
     
  • Impact of quantitative easing by USA and UK on Indian rupee volatility   Order a copy of this article
    by Manjinder Kaur, Navpreet Kulaar 
    Abstract: This paper aims at exploring the impact of Quantitative Easing by USA and UK on Indian rupee exchange rate volatility using monthly observations covering the period from January 2001 to March 2021. For evaluating this phenomenon, an examination of stationarity has been made for each of the time series considered and then cointegration between Indian rupee volatility and USAs and UKs measures of quantitative easing has been assessed through Johansen approach and finally this impact has also been verified through regression analysis. The study reveals that nearly two-third of the variations in Indian rupee volatility have been explained jointly by the variations in interest rate and money supply of both USA and UK. The study establishes that quantitative easing in advanced trading partner nations contributes towards volatility of Indian rupee exchange rate.
    Keywords: quantitative easing; interest rate; Indian rupee volatility; money supply.
    DOI: 10.1504/IJFSM.2025.10076260
     
  • Bridging culture and transparency: environmental, social, and governance disclosure in the global banking landscape   Order a copy of this article
    by Vincenzo Pontrelli, Arcangelo Marrone, Nicola Raimo, Filippo Vitolla 
    Abstract: The increasing global emphasis on sustainability highlights the need for rigorous and transparent environmental, social, and governance (ESG) disclosure. As organisations operate within distinct institutional and cultural frameworks, national culture emerges as critical in shaping corporate disclosure practices. This study examines the effect of national culture on ESG disclosure quality in the banking sector. ESG disclosure is crucial in the banking sector because financial institutions drive sustainable development through their investment and lending decisions. Using a dataset of 498 banks from 42 countries across five regions, this study applies ordinary least squares regression to analyse how Hofstede’s six cultural dimensions influence banks’ ESG disclosure quality. Results indicate that individualism and masculinity negatively affect ESG disclosure quality, whereas uncertainty avoidance, long-term orientation, and indulgence have positive effects. Power distance does not significantly influence ESG disclosure quality. This study makes significant contributions to the literature and provides valuable practical implications.
    Keywords: banking sector; ESG disclosure; national culture; Hofstede; stakeholder theory.
    DOI: 10.1504/IJFSM.2025.10076382
     

 

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