Period Of Economic Crisis Research Articles

Past Experiences and Current Mindset Reveal Crisis Mechanism and Financial sustainability Insights. Evidences from Albania

Periodic economic crises have been a well-recorded phenomenon in nations with capitalist economies since the first half of the 19th century. The effects and repercussions of the global financial crisis of 2007 were undoubtedly felt, even in a small nation like Albania. During the crisis, it became evident that traditional policies that stressed macroeconomic stability were insufficient and that bold action by central banks was necessary to offer flexibility in monetary policy regulations and ensure crisis recovery. This article provides a theoretical explanation of the crisis process as well as a discussion of the Bank of Albania's policy decisions made during two separate crises, the Global Financial Crisis and the Covid-19 Pandemic. In order to emphasize the most significant events and interpret the insights in each stage of the financial cycle, this article was undertaken from the perspective of comparison of various timelines. When looking at financial crises from a macroeconomics perspective, the descriptive method is used to analyse the evidence in a country like Albania. The findings of this study highlight the measures made by the Bank of Albania and the government to manage the economic crisis and strive to reduce its long-term repercussions. The purpose of the study is to provide macroeconomic indicator data on the Central Bank of Albania's response to the aforementioned crises in order to aid policymakers in reflecting on the direction of their policies during two separate periods of crisis.

Platformed cultural production and calibration in the Covid-19 pandemic

The COVID-19 pandemic created a period of social and economic crisis that introduced two distinct problems for social media influencers. At the same time that the pandemic made their work economically precarious, it also made their work morally hazardous, as large-scale human suffering made influencers’ lifestyle promotions appear out of step with their audiences’ day-to-day experiences. How did influencers and the personnel they work with organize their labour to navigate uncertainty and avoid moral criticism? Drawing on 40 in-depth interviews with fashion influencers as well as the industry personnel they work with, I explain how influencers and those close to them respond to and combat issues of uncertainty and change during a period of crisis. I pair this interview data with a year-long online observation of influencers’ labour online. In a calibrated move from aspiration to authenticity, influencers stressed the ‘ordinary’ and ‘everyday’ qualities of their lives during the pandemic, evading moral sanctions against profit-making. Throughout, they leveraged their tentacular connections with audiences to refine content in step with shifting demand and desire online, maximizing their market reach and annual revenue.

Trading labor for experience: The role of unpaid internships in shaping Active Labor Market Policies in Ireland since the Great Recession

AbstractActive Labor Market Policies (ALMPs), which include state‐funded apprenticeships, have long been used as a way of encouraging unemployed youth into skilled and semiskilled trades. However, new forms of “nonstandard” employment are now dominating young people's experience of the labor market. In fact, unpaid internships are becoming a normal part of a modern curriculum vitae and viewed as a necessary rite of passage for a successful school‐to‐work transfer, especially in the middle‐class professions. Through the use of freedom of information requests, policy documents, evaluation reports, and semistructured interviews, this paper examines the role of unpaid internships in shaping the four most recent ALMPs targeted at Irish youth since the Great Recession (2008). It theorizes that the increased prevalence of unpaid internships in the entry‐level jobs market leads to Irish policymakers designing youth unemployment ALMPs based on a private‐sector unpaid internship model. This paper will first situate youth unemployment policy within the literature on ALMPs and unpaid internships. It will then combine process tracing as a within‐case research method with a comparative case study of the four ALMPs. In conclusion, this paper finds that Irish youth unemployment policy designed during periods of economic crisis tends to prioritize the needs of host organizations and mirror employment norms established through unpaid internships. Conversely, during periods of economic growth, the Irish youth unemployment policy reverts to a more regulated model that protects the entry‐level jobs market. Furthermore, this paper recommends that European states should prohibit the use of unpaid internships to avoid further entrenching precarious and discriminatory work patterns.

The growth of tourism between brazil and argentina in the 2008-2018 period of economic crisis

Este trabalho objetivou compreender, quais são as variáveis que garantiram o crescimento do turismo entre o Brasil e a Argentina entre os anos de 2008 a 2018, apesar da crise econômica. Para tanto, foram analisadas variáveis econômicas que impactaram diretamente no setor de serviços, e principalmente no turismo. Assim, foram correlacionadas variáveis econômicas, tais como: taxa de câmbio, desemprego e PIB – com os números do turismo da relação entre os dois países. A análise também constatou que, nos últimos anos, ambos têm tido interesse em avançar além do turismo bilateral, houve ações conjuntas para a promoção internacional de seus destinos, para isso, estes vêm apresentando atrações em conjunto e complementares, pois diante de suas culturas com peculiaridades distintas, ações conjuntas podem potencializar o interesse dos turistas internacionais. Conclui-se que, apesar da crise, os impactos do turismo entre os dois países não foram muito relevantes, de modo que a atividade se manteve contínua e crescente, o que mostra que a presença de um turismo fronteiriço bem estabelecido pode diminuir os impactos em alguns setores, como serviços turísticos, geração e manutenção de empregos, e criar oportunidades de investimento nesses países.

Determinants of Public Health Personnel Spending in Spain.

Public health is funded with government funds gathered from tax revenues, whether national, provincial or municipal. The health system therefore suffers during economic crisis periods, whether due to disinvestment, loss of purchasing power among health care personnel or the decrease in the number of professionals. This worsens the situation, as it is necessary to cover the needs of an increasingly elderly population and with a longer life expectancy at birth. The present study intends to show a model which explains the determination of the "Public Health Personnel Expenditure" in Spain for a determined period. A multiple linear regression model was applied to the period including the years 1980-2021. Macroeconomic and demographic variables were analyzed to explain the dependent variable. Variation in health personnel expenditure: "We included those variables which presented a high or very high correlation above r > 0.6. The variables which explain the behavior of Variation in health personnel expenditure". It was a determining factor in the present study to consider that the variables with the greatest repercussions on health policy were mainly macroeconomic variables rather than demographic variables, with the only significant demographic variable that had a specific weight lower than macroeconomic variables being "Birth Rate". In this sense, the contribution made to the scientific literature is to establish an explanatory model so that public policy managers and states in particular can consider it in their public spending policies, bearing in mind that health expenditures in a Beveridge-style health system, as Spain has, are paid with funds drawn from tax revenues.

Moderation of the association between COVID-19-related income loss and depression by receipt of financial support: Repeated cross-sectional surveys of young adults in Canada and France (2020–2021)

BackgroundTo mitigate the adverse effects of the COVID-19 pandemic on financial resources, governments and family/friends mobilized financial support interventions (e.g., emergency aid funds) and assistance. However, little is known about how financial assistance alleviated mental health problems. This study aimed to investigate the moderating effect of financial support from the government or from family/friends on the association between income loss and depression among young adults. MethodsTwo online cross-sectional surveys among young adults ages 18–29 living in Canada and France were conducted in 2020 (n = 4,511) and 2021 (n = 3,329). Moderate-to-severe depressive symptoms were measured using the Patient Health Questionnaire-9 (cut-off score: ≥10). Two logistic regression models were performed for each survey with an interaction term between income loss and financial support (government or family/friends modeled separately), controlling for demographics. ResultsOverall, half reported depressive symptoms (2020/2021: 53.5%/45.6%), and over a third lost income (2020/2021: 10.2%/11.6% all income, 37.7%/21.6% some income). In 2020, 40.6% received government financial support (17.7% in 2021) while family/friends support was received by 12% (in both surveys). In both surveys, among those who received governmental financial support, income loss was associated with depression, whether participants lost all their income (e.g., 2020: Adjusted Odds Ratios (AOR) 1.75, 95% Confidence Interval [1.29–2.44]), or some of their income (e.g., 2020: AOR 1.45 [1.17–1.81]). However, among those who received family/friends financial support, income loss was no longer significantly associated with depression in both cycles, whether participants lost all their income (e.g., 2020: AOR 1.37 [0.78–2.40]), or some of their income (e.g., 2020: AOR 1.31 [0.86–1.99]). ConclusionsAssociation between income loss and depression was moderated by receipt of family/friends financial support but not by receipt of government financial support. Financial support interventions may help to mitigate the negative effects of income loss on young adults mental health during periods of economic crisis.

Planning Reform During COVID-19: Stakeholder Perspectives on Reform Initiatives in New South Wales and Western Australia

ABSTRACT The COVID-19 outbreak in Australia led to a period of economic crisis. In response, Commonwealth and State Governments targeted the construction sector for concentrated economic stimulation. Planning systems, and their reform, were identified as levers to stimulate economic activity. This paper explores early COVID-19-initiated planning system reforms in New South Wales and Western Australia. It explores key reforms in each state and provides a comparative analysis of reform objectives, the influence of key stakeholders, reform innovations and possibilities for future reform. COVID-19-induced reforms emerge as both the continuation of the long-term reform agenda and reactionary interventions to immediate economic challenges.

ВОЛАТИЛЬНОСТЬ ДОХОДНОСТИ АКЦИЙ ПАО «НК «ЛУКОЙЛ» В ТЕЧЕНИЕ ЭКОНОМИЧЕСКИХ КРИЗИСОВ

This scientific article devoted to forecasting the stock quotes of PJSC “NK “Lukoil” based on their yield volatility is relevant because it reflects the prospects for investing in the Russian stock market. The purpose of the presented scientific work is to determine the level of volatility of the profitability of shares of PJSC “NK “Lukoil” during periods of economic crises in a globalized world. In accordance with the purpose, the tasks of scientific research have been solved: theoretical approaches to determining the volatility of stock market indicators have been studied; the volatility of the profitability of shares of PJSC “NK “Lukoil” during the global economic crises has been determined and analyzed. In the process of work, general and special scientific methods have been used: analysis, synthesis, and sta-tistical (graphical, tabular, standard deviation, logarithm) methods. The scientific novelty of the study is as follows: the values of high volatility of the profitability of shares of PJSC “NK “Lukoil” during peri-ods of global economic crises are determined, on their basis it is possible to predict the beginning of a long-term upward dynamics of the stock quotations of PJSC “NK “Lukoil” after a significant drop in the prices of investment assets of the Russian stock market. The results of the study have practical applica tion because they can help investors build trading strategies, determine the minimum value of the secu-rities of the analyzed Russian oil company, and orient themselves regarding the purchase of shares of this company after a fall in their value accompanied by high volatility of profitability.

ГИБРИДНЫЕ МОДЕЛИ ПРОГНОЗИРОВАНИЯ ПОКАЗАТЕЛЕЙ ВНЕШНЕЭКОНОМИЧЕСКОЙ ДЕЯТЕЛЬНОСТИ РФ НА ОСНОВЕ НЕЧЕТКИХ КОГНИТИВНЫХ КАРТ И ДЕРЕВЬЕВ РЕШЕНИЙ

The development of hybrid forecasting models is more relevant than ever during periods of economic crisis, since it is thanks to hybrid technologies that it is possible to make forecasts even in unstable times. In this paper, several indicators of the foreign economic activity of the Russian Federation were selected for experiments, in total, 5 indicators were selected, the data on which were presented quarterly for the period from 2013 to 2021. For forecasting, two cognitive forecasting models were used, such as decision trees and fuzzy cognitive models. cards.

Resilient performance faced with a period of economic crisis: Integrated model of conceptions and research strategy

Resumo Objetivo: Este estudo busca conceber um modelo integrado de concepções para pesquisas de resiliência organizacional ante período de crise econômica e sintetizar estratégia para abordagem empírica. Originalidade/valor: Ao reconhecer as recessões econômicas como eventos de crise, exógenos e recorrentes, que desafiam a trajetória evolutiva do ambiente de negócios e a capacidade adaptativa das firmas, este es-tudo se debruça sobre convergências de campos científicos para unificar ciclo de negócios com características e dinâmicas empresariais heterogêneas sob a perspectiva de resiliência. Design/metodologia/abordagem: Inicialmente, conduzimos revisão sistemática da literatura sobre “gestão do ciclo de negócios” e “resiliência organizacional”. Na sequência, usamos várias combinações e variações dos termos “crise econômica” e “resiliência”, acrescidos de “gestão” e “desempenho”, para ampliar a base de referências a partir de publicações em indexadores relevantes. Assim, mediante pesquisas de autores de diversas áreas do conhecimento, as proposições aqui levantadas se fundamentam na assimilação abrangente e transversal de saberes relativos ao contexto de crise econômica e de dinâmica adaptativa das organizações. Resultados: Este trabalho organiza e concilia convergências de campos científicos em um modelo integrado de concepções para estudo de resiliência organizacional ao longo dos ciclos de negócios, e, ainda, sintetiza a estratégia de pesquisa com três segmentos de análise para abordagem empírica. Assim, os achados cooperam com diversos fluxos de pesquisa que se voltam às adversidades enfrentadas pelas organizações em períodos de recessão e oportunizam amplo prisma de análise, com significativo espaço para explorar a vinculação de atributos e ações que favorecem ou prejudicam o alcance de desempenho resiliente ante período de crise econômica.

УПРАВЛІННЯ ФІНАНСОВИМИ РИЗИКАМИ В УМОВАХ ВІЙНИ

The article examines the concepts of "risk" and "financial risk". The opinion of scientists and researchers of national and foreign financial literature is given. Uncertainty is an unavoidable circumstance of the functioning of any economic unit, that is why risk is a component of the results of management decisions. Risk is the result of uncertainty. The appearance of uncertainty is caused, first of all, by the fact that the main processes related to entrepreneurship are not initially deterministic. Financial risk is the possibility or probability of the occurrence of unplanned financial expenses in a situation of uncertainty of the circumstances of the activity. The financial risk management system consists of a set of measures aimed at identifying and preventing possible threats and problems. The main task of financial risk management is to reduce the impact of possible negative impacts and threats, as well as to use the identified opportunities with maximum benefit. A significant part of the work is focused on identifying and identifying the financial risks to the economy of Ukraine caused by military actions, in particular, the loss of human capital, the destruction of social and communal infrastructure by the aggressor, the reduction of production, the shortage of energy resources, the increase in the budget deficit and public debt, inflation, the reduction of banking lending and commodity export and others. The essence, goals and objectives of financial risk management are considered. The main principles and directions of financial risk management are analyzed. The relevance of effective management of financial risks is especially acute in the period of economic crisis and martial law in the country. This is due to the fact that the crisis caused by the coronavirus transformed into an economic crisis as a result of military operations on the territory of Ukraine, which has significant negative and long-term consequences for the country's financial sector. Not every financial system of the highly developed states of the world could withstand a number of challenges caused by the war. Thanks to the Armed Forces of Ukraine, the Ukrainian people are able to live, work and rebuild the country.

Desempenho resiliente ante período de crise econômica: Modelo integrado de concepções e estratégia de pesquisa

Abstract Purpose: This study seeks to design an integrated model of concepts for research on organizational resilience in a period of economic crisis and synthesize strategy for an empirical approach. Originality/value: By recognizing economic recessions as crisis events, exogenous and recurrent, that challenge the evolutionary trajectory of the business environment and the adaptive capacity of firms, this study focuses on the convergence of scientific fields to unify the business cycle with characteristics and heterogeneous business dynamics from the perspective of resilience. Design/methodology/approach: Initially, we conducted a systematic review of the literature on “business cycle management” and “organizational resilience.” Next, we used various combinations and variations of the terms “economic crisis” and “resilience,” plus “management” and “performance” to expand the base of references from publications in relevant indexes. Thus, through research by authors from different areas of knowledge, the propositions raised here are based on the comprehensive and transversal assimilation of knowledge related to the context of economic crisis and the adaptive dynamics of organizations. Findings: This study organizes and reconciles convergences of scientific fields in an integrated model of concepts for studying organizational resilience throughout business cycles and synthesizes a research strategy with three analysis segments for an empirical approach. Thus, the findings cooperate with several streams of research that focus on the adversities faced by organizations in periods of recession and provide a broad prism of analysis, with significant space to explore the linkage of attributes and actions that favor or hinder the achievement of resilient performance in the face of a period of economic crisis.

A Markov Switching Approach in Assessing Oil Price and Stock Market Nexus in the Last Decade: The Impact of the COVID-19 Pandemic.

We revisit the oil price and stock market nexus by considering the impact of major economic shocks in the post-global financial crisis (GFC) scenario. Our breakpoint unit root test and Markov switching regression (MRS) analyses using West Texas Intermediate (WTI) oil price and Standard & Poor's 500 (S&P 500) market index show that among the major economic events, the recent coronavirus (COVID-19) pandemic is the most significant contributor to market volatilities. Furthermore, our MRS results show that the relationship between oil price and the stock market is regime-dependent; the stock market experiences substantial and positive shocks in a volatile oil price regime. Our results provide valuable insights to investors and policymakers regarding risk management and financial market stability during economic crisis periods, specifically during the COVID-19 pandemic.

Koordinacija fiskalne i monetarne politike kao odraz realnosti i projekcije

Fiscal policy can be understood as a certain tax incentive that can achieve a positive effect on the financial market through certain transactions, so it is possible to view fiscal policy as an innovation that provides capital on the international market with its instruments, relying on an adequate monetary policy. Certainly, their mutual alignment and coordination comes to the fore especially in crisis economic situations, as well as projections that guide the further development of fiscal policy. Precisely, the need to harmonize two policies - monetary and fiscal, which can be functional but also institutionally interdependent, in this research are set in a certain correlation that can promote the economic activities of the state that needs to stabilize market operations, especially in conditions when the increasing interdependence of states is noticeable. The need, possibilities, as well as realistic indicators of coordination of fiscal and monetary policy are monitored through research in the Republic of Serbia, but also in the member states of the European Union, looking at them comparatively, giving indicators in the pre-crisis period, but also guidelines after the economic crisis period, especially after the pandemic, as well as projections that can point to distant coordinating processes of fiscal and monetary policy

АНАЛІЗ ВИЗНАЧЕННЯ ПОНЯТТЯ «ДЕРЖАВНА ДОПОМОГА СУБ’ЄКТАМ ГОСПОДАРЮВАННЯ» ТА ЙОГО ОЗНАК

The article considers a comprehensive analysis of scientific approaches on the basis of national legislation and according to EU standards understanding of the concept of "state aid to economic entities." The key features of this concept are defined. It is concluded that there is a distinction between such concepts as "state aid" and "state support." If "state support" is understood as one of the means of state regulation of economic activity, then the concept of "state assistance" should be considered as a broader concept, consisting in the targeted influence of the state on the activities of economic entities (administrative, financial and other mechanisms aimed at ensuring the interests of economic entities, streamlining their activities, providing them with financial assistance, etc.). For Ukraine, the role of the state in regulating entrepreneurship is traditionally decisive, and during the period of hostilities it became especially important. In the plane of the tasks of state aid lies the state adjustment of financial flows in the economy and their direction to the needs of balanced structural development. For the post-war recovery, the key task will be to radically update the system of regulation of entrepreneurial activity in Ukraine in order to simplify the rules of doing business and eliminate corruption elements that are the main obstacles to the development of domestic business and the arrival of foreign capital. State aid is used mainly in crisis periods, either for a separate enterprise, a group of enterprises, or for the state as a whole. State aid actually has a corrective effect on competition and trade by introducing various instruments, including subsidies, tax incentives and other forms of state concessions in favor of certain firms. The existence of a variety of types and forms of state assistance to business entities is highlighted. To date, there is no single approach to understanding the content and essence of the effectiveness of the use of public funds, including in the process of providing state assistance. State aid is of particular importance in the period of economic recession and crises, when negative changes in market conditions suppress entrepreneurial activity.

Governance, competitiveness and performance after mergers of local government organizations in turbulent times

This paper investigates the successful governance or not through accounting performance of local government organizations (LGOs) after mergers as part of the public sector during the period of the economic crisis in Greece. The purpose of this work is to evaluate the performance after the mergers of various LGOs in Greece. More specifically, the analysis of the fifteen largest Greek merged municipalities in terms of economic sizes is done using accounting measures by analyzing their competitiveness and comparing their performance per several time periods, based on their accounting data for the years 2011–2017, i.e., after the mergers that took place since the implementation of the Kallikratis Program that occurred in 2010. The research results showed statistically significant change in the examined accounting measures after the mergers in different phases of the economic crisis period in Greece. From the analysis of the accounting performance, useful conclusions are drawn about the efficiency of each new municipality, since its establishment and for seven years, as well as conclusions from the success of the Kallikratis Program

Speed of Adjustment and Leverage Deviation - Cost of Equity Nexus: Evidence from Emerging Markets and Crisis

Purpose: This study investigates the impact of leverage deviation on the cost of equity under the specifically mentioned condition in ASEAN-5 considering the global financial crisis and the sensitivity of the cost of equity on leverage deviation.
 Design/methodology/approach: This study employs the Generalized Least Square (GLS) model and the dynamic panel estimation based on the two-step difference GMM to analyze the data.
 Findings: The regression analysis found deviated from the target leverage impact unfavorably on the firm's cost of equity. The results also show that the more sensitive the cost of equity is to the leverage deviation from the target, the faster the adjustment. However, firms will adjust their capital structure for a lower cost during the crisis. Additionally, it shows a compelling behavior in the relation between the sensitivity of the cost of equity to leverage deviation on the leverage speed of adjustments.
 Research limitations/implications: The higher sensitivity of the cost of equity is to the leverage deviation from the target, the faster the adjustment. It implies that the disregard of heterogeneity in SOA will mislead the adjustment period to the target leverage.
 Originality/value: Using manually collected data, this study provides empirical evidence on the importance of leverage deviation and the sensitivity of the cost of equity and the speed of adjustment to the target debt level to analyze capital structure decision in an enormous leverage usage in ASEAN. Second, this paper presents new evidence of the effect both in normal economic conditions and crisis periods, which is rarely examined in the ASEAN emerging market.

Income diversification and profitability of Vietnamese commercial banks

The paper aims to investigate the impact of income diversification on commercial banks’ profitability in Vietnam. Using a panel data set of 33 Vietnamese commercial banks during the period from 2006 to 2020, the empirical analysis shows the more diverse in revenue sources, the higher banks’ financial performance. The research provides some recommendations that banks should look forward to diversifying their income, particularly income from non-traditional activities, in order to improve competitiveness, reduce risk, and raise profitability and policies that encourage banks to diversify their incomes should be enacted. This will not only be beneficial for banks but also helps to mitigate the risk for banking industry and maintain its stability. The main results are robust to a different measure of financial performance and controlling for the period of economic crisis.

Impact of Economic Crisis and Way Forward for the Survival of SMEs: A Sri Lankan Perspective

The small and medium scaled Enterprises (SME) sector in any country including Sri Lanka is considered a vital sector for a country’s economic growth. However, past research evidenced that despite the large number of business establishments that occur every year in Sri Lanka, a high SME failure rate, a low growth rate, and survival rates were reported comparatively with other countries. The prevailing economic crisis in Sri Lanka further creates a vulnerable situation for the SME sector and it affects highly the growth and performance of most of the SMEs. This effect may continue for a long period and affects seriously hamper the country’s economic growth further. Therefore, it requires identifying the impact of the prevailing economic crisis on SMEs in Sri Lanka and ways for ensuring the SMEs' survival. Hence, this research aims to reveal the key problems encountered by SMEs during this economic crisis and determine which factors affect the business survival even if the crisis brings many negative impacts. This study was based mainly on the positivism paradigm followed by the quantitative approach. The study sample included 172 manufacturing SMEs which were located in the Southern and Western Provinces of Sri Lanka. The Independent variable of this study was entrepreneur-specific factors and two sub-dimensions including dynamic capabilities and entrepreneurial orientation of the entrepreneur were used to measure the independent variable. The dependent variable was the business survival. As data analysis techniques, the factor ranking method was applied to identify the key problems faced by the SMEs due to the prevailing economic crisis, and multiple regression technique was applied to reveal the most persuasive determinants of SME survival during the economic crisis. Key problems faced by the SMEs included: high cost of production and demand decline due to inflation, shortage of required raw materials, continuous power cuts, working capital and liquidity problems, and breakdown of their supply chain due to fuel issues. All these key issues affect diminish the capacity utilization rate and lower the business performance of many SMEs. This research found that several SMEs were capable to protect as survivors even during the economic crisis period due to their dynamic capabilities and entrepreneurial orientation possessed with them. Among the two factors that were considered as owner-specific factors in this study, dynamic capabilities possessed by the owner–manager work as the most persuasive determinant of the business survival than the entrepreneurial orientation during the economic crisis.

Identification of the Influence Factors of Financial Communication in Multiple Crisis Condition - Bibliometric Analysis

Financial communication between companies represents the set of rationally collected information, validly assembled and properly transmitted, so as to satisfy the increasingly heterogeneous requirements of stakeholders, a process that leads to decision-making by them. This process becomes all the more important as the world map is currently going through an extremely difficult period, characterized by crises of several types. In this context, the purpose of our work is to identify the new factors that can positively or negatively influence the financial communication process in the current multiple crisis conditions. The present work is focused around the bibliometric analysis carried out on the concept of financial communication with the help of the VOSviewer program based on the works available in this field on the Web of Science platform. In order to select the most relevant papers for the research subject, their search was carried out according to the keywords financial communication, selecting only four research areas, namely Economics, Business, Management and Business Finance, obtaining a result of 6089 scientific papers available on the Web of Science platform for the period 1975-2022. The way of disclosure and communication of information over time has seen many changes, from traditional communication to digitalized and integrated communication through ERP and blockchain technologies. Thus, new concepts appear in the economic dictionary that ensure the communication process, adapting it to the technological, economic, social and political evolution During the 1990s the issue of adopting an international conceptual framework was raised, which would ensure the disclosure of comparable, reliable and correct information, in periods of economic crisis, for example in the period 2008-2009, the economic-financial communication focused on identifying new information models, which ensure the disclosure of a complete set of information necessary for investors in making decisions. Keywords: Financial Communication; Research Clusters; Multiple Crisis; Digitalization; Stakeholders.