This work has three objectives related to scientometrics of financial economics from 1896 to 2006: (i) to detect which are the most cited authors and co-authors of a sample of the most influential works in the finance literature; and (ii) define the most relevant co-authorship groups in this sample; and (iii) develop a complex network with the links between these clusters, authors and co-authors. We used the Complex Network Statistics weighted degree metric, IDEAS/RePEc scores, and ranking to achieve the first objective. For the second, we adopt the modularity class process. For the third, we use Yifan Hu's proportional layout algorithm. The database was gathered from two sources, the Institute for New Economic Thinking's The History of Economic Thinking website and the references described by financial historian Peter L. Bernstein in his seminal book tracing the history of financial and economic thought.

After the global financial crisis in 2008, the early warning of financial crisis has become a necessary and urgent issue. It is of great significance to analyze the factors affecting financial crisis and clarify the relationship between credit growth, housing price fluctuation, current account deficit and financial risk in order to objectively and accurately predict the degree of influence of financial risk. This paper takes 41 global economies, including developed economies and emerging economies, from 1980 to 2019 as research objects, and analyzes the early warning ability of financial vulnerability indicators such as credit growth, housing price and current account deficit in a unified framework through panel Logit model. It is found that credit is not the only important indicator to predict crisis: when housing price, current account deficit and credit are under the same research framework, housing price and current account deficit have a lot of leading information, which can predict the occurrence of financial crisis; However, as house prices and current account deficits are added to the model, the early-warning power of credit is significantly lower than that of house prices. Paying attention to house price fluctuations and current account deficits has some implications for future policy making. In view of this, we should do a good job of cross-cycle policy adjustment, persist in curbing real estate financialization and bubbles, pay close attention to the direction and extent of current account adjustment, and prudently manage related financial risks.

This study aims to examine the role of fintech development in the relationship between financial liberalization and banking risks in WAEMU countries. To do this, we used macroeconomic data from WAEMU countries, except of Guinea Bissau, due to lack of data, over the period 2011-2021. Methodologically, we use the PCSE (Panel-Corrected Standard Error) method of Beck and Katz (1995). The results revealed that fintechs amplify the banking risk reduction effect of financial liberalization. In terms of economic policy implications, the study suggests that the authorities should step up the process of financial liberalization and pay particular attention to adequate regulation of fintechs.

This study aimed to examine the relationship between the degree of industry concentration which the company belongs and the level of operating segment disclosure. The study also aimed to test the impact of audit quality on the previous relationship, using a sample of 40 non-financial companies listed on the Egyptian stock exchange for five-year period 2016-2020.Using regression analysis, the results of the study showed a low level of operating segment disclosure in Egyptian companies in general. The results of the study also showed that there is a significant negative relationship between the degree of industry concentration and the level of operating segment disclosure. While the results showed an insignificant negative effect of audit quality on the relationship between the degree of industry concentration and the level of disclosure of the operating segments. The previous results were supported by robustness tests conducted by including additional control variables that include the board of directors’ characteristics, as well as using an alternative measure to measure the degree of industry concentration.

The main objective of this study is to analyze the effect of ICT on the number of bank branches in the WAEMU. Based on the total of eight (08) member countries of the union, from 1995 to 2022, it employs the negative binomial (BN) regression method for the estimations. The results of the study show that among the ICT variables selected, only mobile and fixed-line telephone subscriptions have a statistically significant and positive effect on the number of bank branches in the union. The Internet and the number of ATMs have no significant effect on the number of branches, although they remain negatively correlated with the number of bank branches. On the other hand, the number of banking institutions and the size of these banks encourage the opening of new bank branches.

This paper empirically analyzes the corporate governance effect and default of financial lease debt. The results show that: (1) Financial lease debt is conducive to reducing asset substitution, expanding debt scale, optimizing debt structure, reducing corporate debt cost, extending debt maturity and adjusting corporate investment, etc., and is conducive to solving corporate agency problems. (2) The corporate governance effects of financial lease debt with different transaction types and term structures are heterogeneous. In terms of transaction types, direct financial leasing can reduce agency costs, reduce inefficient investment, and have significant corporate governance effects. Sale-leaseback can alleviate the agency problem to some extent, but it can not restrain the inefficient investment. Other financial leases do not have corporate governance effects. In terms of term structure, short-term financial leasing has stronger corporate governance effect than long-term financial leasing. In addition, through the analysis of debt default distance (DTD), this paper finds that compared with direct financial leasing, the probability and default level of debt default are higher under the impact of COVID-19. When the company's future earnings decline or cash flow fluctuation range is 15%, the sale-leaseback debt has potential default risk.

Under the background that business environment optimization has become a new competitive advantage in cultivating investment and technology introduction, the influence of business environment optimization in developing countries on the innovation willingness of foreign-funded enterprises and the moderating effect of human capital of foreign-funded enterprises are investigated. The results show that: the business environment optimization reduces the willingness of foreign enterprises to carry out technological innovation, process innovation and product innovation, and the average marginal effect increases in turn; The internal mechanism is the reduction of preferential degree of foreign enterprises and the enhancement of competitive power of domestic enterprises brought about by the optimization of business environment. The human capital of foreign-funded enterprises enhances the effect of business environment optimization on their innovation willingness, and this is achieved by enhancing the preferential degree of foreign-funded enterprises, reducing the inhibition of their innovation willingness, and promoting the competitiveness of domestic enterprises by optimizing the business environment. It is further found that the introduction of foreign enterprises has a significant innovation spillover effect, and the absorption capacity of domestic enterprises has a positive regulatory effect.

Based on resource-based theory, dynamic capability theory and transaction cost theory, this paper analyzes the influence of IT application based on big data analysis on new product performance, the mediating role of supply chain collaboration and the moderating role of relationship risk between supply chain collaboration and new product performance in the context of supply chain collaboration in the digital age. The results show that IT advancement and IT consistency have significant positive effects on new product performance; Joint problem solving and information sharing in supply chain collaboration play a partial mediating role in the relationship between IT advancement and new product performance. At the same time, IT also plays a part of mediating role in the relationship between IT consistency and new product performance. Relationship risk positively moderates the relationship between information sharing and new product performance. The research conclusions not only enrich the existing theories, but also have important reference significance for the digitization and information construction and innovation development in the context of enterprise supply chain collaboration.

Design/methodology/approach: For a sample of Italian non-listed firms that file full financial statements, we conduct a cross sectional regression analysis to determine whether the managers of indebted firms complement real activity-based (REM) with accrual-based (AEM) earnings management. To model each technique, we estimate OLS regressions with robust standard errors to avoid heteroscedasticity problems.Purpose: This research analyses whether the managers of highly indebted Italian non-listed firms, financed mainly by bank-loans, are likely to undertake real activity-based earnings management (REM) and accrual-based earnings management (AEM) as complementary activities to boost the impact of earnings management (EM) on reported earnings and achieve desired earnings targets.Findings: Consistent with the extant literature, we find that indebted firms are likely to complement REM with AEM to enhance their creditworthiness. We also provide evidence that high-quality audit companies constrain neither REM nor AEM initiatives. Finally, firms suffering from financial problems are less likely to engage in either initiative as they are under greater scrutiny from lenders.Originality: The paper investigates the complementary use of accrual-based and real activity-based earnings management techniques in non-listed firms, suffering from a high pressure from lenders in the case of indebtedness.Practical implications: This research should be of interest to banks, managers, and standard setters as it highlights the earnings management strategy employed by firms with a high leverage ratio and provides evidence on the relative costs associated with each earnings management technique.