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Purpose: With the rise of mandating climate-related disclosures (CRD), this paper aims to investigate how energy and agriculture markets are exposed to climate disclosure risk. Design/methodology/approach: Using the multivariable simultaneous quantile regression and data from 1 January 2017 to 29 February 2024, the authors examine daily and monthly responses of energy and agriculture markets to climate disclosure risk, energy risk, market sentiment, geopolitical risk and economic policy risk. The sample covers the global market, Australia, Canada, European Union (EU), Hong Kong, Japan, New Zealand, Singapore, the UK and the USA. Findings: The results show that climate disclosure risk creates both positive and negative shocks in the energy and agriculture markets, and the impacts are asymmetric across quantiles in different economies. The higher the climate disclosure risk, the greater impact of crude oil future on the energy sector in North America (Canada and the USA) and Europe (EU and the UK), but no greater effects in Asia Pacific (Australia, New Zealand and Singapore). The agriculture sector can hedge against economic policy and geopolitical risks, but it is highly exposed to climate disclosure and energy risks. Originality/value: This study timely contributes to the modest literature on the asymmetric effects of climate disclosure risk on the energy and agriculture markets at the global and national levels. The findings offer practical implications for policymakers and investment practitioners in understanding financial effects of mandating CRD to diversify risks depending upon market conditions and policy uncertainty. [ABSTRACT FROM AUTHOR]

Copyright of GeSec: Revista de Gestao e Secretariado is the property of Sindicato das Secretarias e Secretarios do Estado de Sao Paulo (SINSESP) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of International Journal of Professional Business Review (JPBReview) is the property of Open Access Publications LLC and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The development of financial technologies fundamentally changes the face of the financial market, the speed of execution of financial transactions, and opportunities for attracting new customers. The growing role of digital assets (forecast 2024 AUM USD 80.08 billion, the number of users in the digital payment market will grow to 4805.00 million people by 2028) opens up a whole range of issues that arise before the regulatory authorities of different countries, and which need to be regulated, following the rules of the open free market on the one hand, and protecting both entire financial systems and individual users from possible risks arising from the development of new financial technologies. The main goal of the presented research is the analysis and systematization of existing approaches that are used to regulate the activities of economic entities such as FinTech and TechFin, including in the field of circulation of cryptocurrencies as an element of the financial technology market, as well as the substantiation of opportunities and threats for the traditional financial market, which arise as a result of the active development of FinTech and TechFin companies. As a result of a comparative analysis of the characteristics of FinTech and TechFin companies, it was established that these players in the financial market are differentiated by such features as access to capital, access to technology, access to databases, availability and the possibility of using technological infrastructure. It has been established that the absence or low level of harmonization of regulatory norms regarding the provision of financial services can limit competition, provoke unscrupulous behaviour in the market, and negatively affect consumers of financial services. It has been proven that it is the harmonization of regulatory requirements and their differentiation according to established distinctive features that will contribute to preserving the integrity of financial markets and financial inclusion. [ABSTRACT FROM AUTHOR]

The article examines the supervision of the activities of non-banking financial institutions based on current legislation. The object of the study is the set of relationships that arise in the process of financial control over the activities of non-banking financial institutions. The subject is the laws and regulations of the National Bank of Ukraine regulating the activities of non-banking financial institutions. The methodological basis of the research is general scientific and private scientific methods of cognition. It is noted that effective control and supervision of the activities of non-banking financial institutions is an integral condition for ensuring the stability and development of the financial market, protecting the rights and legitimate interests of consumers of financial services. Supervision of non-banking financial institutions is characterized by the use of: a risk-oriented approach, which assumes that supervisory measures are carried out with different frequency, intensity and concentration on the identified risks of a non-banking financial institution depending on its risk profile. Risk-based supervision arises as a supplement to formal compliance supervision. Supervision of the activities of non-banking financial institutions includes: macro prudential supervision aimed at ensuring the safety and stability of the financial market; oversight of the judgment-based regulatory model; proportional (selective) regulation and supervision; behavioral supervision; a combination of forms of supervision based on a balanced combination of various forms of control and supervision activities of the National Bank of Ukraine. Expanding the powers of non-banking financial institutions to combine types of activities will lead to the development of the market by reducing the costs of its participants and introducing new digital technologies into the practice of non-banking financial institutions. One of the most urgent tasks facing the National Bank of Ukraine today is to overcome the approach to regulation exclusively by types of legal entities by moving to a more progressive model of regulation by types of activity. [ABSTRACT FROM AUTHOR]

Countries are confronting climate change using climate-related regulations that require firms and investors to disclose their green strategies and activities. Using the Meta-Analysis Structural Equation Modeling (MASEM) technique, this study evaluates the relationship between climate-related regulations and financial markets. The meta-regression analysis is conducted based on the outcomes of 52 empirical studies screened from 143 relevant articles. The results show the predictive power of the climate-related disclosure (CRD) laws and environmental regulations (ERs) on financial performance across all studies. ERs create mixed impacts on the equity market and support the debt market. Firm value is affected by ERs either negatively or positively. Methodologies and risk-related factors (market, industry, and firm risks) are important in explaining the relationships between ER/CRD and financial performance. The more developed the market, the less the impact of ERs and CRD on the equity market. Considering industry risk is recommended because different industries are exposed to changes in policies differently. The ER/CRD–firm value relationship is affected by all market, industry, and firm risks. The downside effect of mandatory CRD on the equity market suggests that policy makers, firms, and investors should be cautious in passing a new CRD regulation for transformation towards a sustainable economy. [ABSTRACT FROM AUTHOR]

A model for determining the oil market transferability turmoil on the financial markets of the Iranian economy using the dynamic systems approach. At first, data related to oil, gold, stock exchange and foreign exchange were extracted from statistics related to the World Bank, Central Bank and Statistics Center of Iran and were analyzed with statistical analysis and simulation software. Then the research model was constructed using simulation methods and system analysis and the results were analyzed. The oil market in supply and demand for price determination is based on global systemic behavior. this simulation has used the factors affecting oil supply, oil demand, the expectations that shape this supply and demand, as well as macro factors such as macroeconomic indicators of the US economy, sanctions on the oil sector in Iran, the rate of world industry development and the available knowledge on oil substitution. Hidden mechanisms are the main reason for some oil price behaviors. The results of the research have led to the forecast of oil prices in the baseline scenario until 2025. The presence of political problems due to the interconnectedness of parallel markets in Iran causes widespread fluctuations in the currency and gold sectors in the Iranian economy. [ABSTRACT FROM AUTHOR]

In order to solve the problem of the large deviation between the classical option pricing model and the actual price data, based on the BS option pricing model, the Fast Fourier Transform (FFT) combined with the Transformer's multi-head attention mechanism of deep learning algorithm was used to conductthe empirical research on the 300ETF options and Shanghai gold options data. The model was quadratically trained by the improved Transformer algorithm on the residual values between the option pricing model based on the FFT algorithm and the option price data of the actual financial market. The results show that compared with other algorithms (BS model, FFT-BS model) and other hybrid algorithm models (FFT-BS+ARIMA model, FFT-BS+LSTM model), the proposed model has a good performance in the statistical indexes such as R2, MSE, NRMSE and MAE, and the hybrid algorithm model achieves a better performance for different volatilitiesand different varieties of options. The study innovatively applies the improved Transformer algorithm to option pricing, which compensates for the shortcomings of the classical option pricing model and provides a more accurate option pricing model.

As humanity moves into the era of digital technologies and the knowledge economy, the importance of intangible assets in the global economy and international business has been increasingly recognised. Amid the forced virtual communication resulting from the lingering effects of the COVID-19 pandemic, as well as the social conflicts and cyber-attacks associated with Russia's hybrid war in Ukraine, the value of intangible assets such as reputation, investor and customer loyalty, consumer data, branding, intellectual expertise and copyrights has taken on new importance and relevance. The purpose of the research is to improve the conceptual and methodological foundations for determining the nature and value of intangible assets of leading international companies, in particular, their undisclosed components, based on the use of financial market data. Research methodology. The study is based on systems analysis, analysis and synthesis, statistical and graphical methods. These methods were used primarily to identify the structure of the intangible assets of leading international companies, highlighting the interrelationships between the formation of the gap between the external (financial market) and internal (balance sheet) value of companies' shares and the value of their intangible assets. The publication supports the assumption that the identified gap between the market capitalisation and shareholder's equity of an individual company represents the undisclosed part of intangible assets that is not available in the company's official statements. This gap includes such components as reputation, trust and loyalty of customers and investors, brand strength, etc. Given the dynamic development of the international business sphere, the critical importance of flexibility, speed of decision-making, and the need for investors to obtain the most up-to-date information about the company's potential, including the value of its intangible assets, the proposed approach can serve as an effective decision-making tool and an alternative means of determining the real value of a company's intangible assets.

Investigating the impact of financial technologies on banking reveals the importance of the development of this segment in the context of a rapidly changing financial landscape. Modern technologies are transforming not only the way financial services are provided, but also the very nature of financial relationships. The article emphasizes the importance of analyzing modern trends in fintech, which accompany the rapid growth of this sector and determine new prospects for the banking sector. Special attention is paid to the analysis of the main challenges associated with the development of financial technologies and the determination of ways to solve these problems through the clarification of terminology and the introduction of the latest solutions in the field of cyber security. The specified areas of development of financial technologies reflect a wide range of opportunities, including ensuring user convenience through the development of digital payment systems, mobile applications and various online platforms. At the same time, attention is focused on the importance of ensuring security and protection of information in connection with the growth of cyber threats and the development of the latest technologies in the financial sphere. The importance of financial technologies as a key factor for increasing the competitiveness of banking institutions and ensuring wider access to financial services is highlighted. The detailed analysis of key areas of research in the field of financial technologies allows us to determine their role in shaping the future banking sector. The considered opportunities and prospects emphasize the importance of further research and understanding of these trends for the effective development of the banking sector.

Aim. The purpose of the study is to substantiate the concept and structure of the common financial market of the Eurasian Economic Union, highlight the problems of its formation and ways to solve them. Tasks. The objectives of the study are: review and analysis of the definitions of the common financial market in the legal framework of the Eurasian Economic Union; highlighting key aspects of the development of the common financial market; defining its structure, problems of formation, proposing ways to solve them.Methods. Methods were used: institutional analysis, comparative analysis, system analysis to substantiate aspects of the formation and structure of the common financial market of the Eurasian Economic Union. The method of formal logical analysis was also used to clarify the concepts of the common financial market in various acts of the integration level.Results. Firstly, at the level of the Eurasian Economic Union, the concept and criteria of a common financial market have been established.Secondly, a broad and narrow understanding of the structure of the common financial market in the context of Eurasian integration is highlighted.Thirdly, the key aspects of the development of the common financial market are: expanding the range and accessibility of financial services; ensuring the rights of consumers of financial services and investors; security and transparency of financial services.Fourthly, the problems of forming a common financial market are highlighted, including the different levels of development of the markets of the integration member states, the weak sector of the securities and investment markets.Conclusions. The common financial market is part of Eurasian integration, the processes of formation of such a market are components of integration processes. The structure of the general financial market in the narrow sense includes the banking and insurance services sector, the securities market sector, and the relations between these sectors. A broad understanding of the structure of the general financial market additionally includes the tax, budget and currency areas.

In order to evaluate and estimate significant aspects of time series data, various models with varying degrees of variation have been built in the last few years. The overarching goal of study is to examine the variance dynamics of several Indian stock market indexes using Normal and Students-t distributions. The sample data spans a long time period (more than 40 years), from April 1979 to May 2023, and includes dramatic happenings. The econometric method relies heavily on the GARCH models and other statistical investigations. The outcomes contribute to the growing body of knowledge in the field. The possible rewards and risks of an investment are the focus of this empirical study. The results encompass the dynamics of financial series, volatility sketching, a statistical and GARCH model feature assessment, and the fitness of series returns. This opens the door to different assessments of the Indian financial market.

Financial market volatility has been a major interest to all the market stakeholders, especially retail investors, since 2020. Against this backdrop, the study is focused on constructing a Composite Risk Index (CRI) for the Indian Financial Market and examining the various methods of weighting as well as types of volatility captured in the construction of the Financial Market Composite Risk Index. The study intends to contribute to the methodological portion of the derivation of appropriate weights for each financial market segment. The study is based on the daily price series from 1st January 2020 to 31st March 2023. The research develops nine (09) different Composite Risk Index based on the types of volatility capture [Standard Deviation (SD), Autoregressive Conditional Heteroskedastic (ARCH), Generalised Autoregressive Conditional Heteroskedastic (GARCH)] and method of deriving the weights [Principal Component Analysis (PCA), Analytic Hierarchy Process (AHP) and Data Envelopment Analysis (DEA)] of various sub-markets [ Equity, Commodity and Forex] and its segments [Spot and Derivatives]. The inter and intra-evaluation of nine CRI are carried out with the help of the nonparametric statistical tool Kruskal Wallis Test; further, the pair-wise comparation is also performed to analyse the homogeneity between the types of volatility capture and method of deriving the weights. The results reveal that the GARCH-based DEA Composite Risk Index better exhibits the volatility of the Indian financial markets compared to their counterpart CRI and also has a high co-movement with India VIX.

Digitalization is one of the “catalysts” of economic development in any modern state. Accordingly, it has a strong impact on international financial market as a whole. The countries that were among the first to carry out digital transformation in their economies occupy leading positions in terms of socio-economic development. At the moment, global economy is in a rather difficult situation, and the leading countries are still looking for new ways of development that can ease some aspects of economy. The need for rapid implementation and adaptation of international financial market to digital technologies and transformation of international monetary and credit relations are the main trends in international financial market digitalization development in modern conditions. Due to digital technologies development, new participants in financial market are emerging, the range of services provided is expanding, and the quality of the results is improving.

Copyright of International Journal of Professional Business Review (JPBReview) is the property of Open Access Publications LLC and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper studies the optimal consumption and investment for an agent, considering statistical arbitrary opportunities caused by mispriced stocks. The agent exhibits consumption habit formation and has access to a risk-free asset, a market index, and a pair of mispriced stocks. The optimization problem is to find the optimal consumption and investment strategies to maximize the expected utility from consumption and terminal wealth. The utility of consumption stems from the difference between the consumption and habit levels. Based on the dynamic programming method, a verification theorem is provided, and the analytical solution of the optimization problem is obtained. The numerical results show the behaviors of our formulas and are used to make practical recommendations. By studying the sensitivity of consumption and investment strategies to habit formation, mispricing, and a delta-neutral arbitrage strategy, we uncover and analyze the behaviors of the agent. Meanwhile, we define and discuss the wealth-equivalent utility loss in three cases, including ignoring habit formation, ignoring mispricing, and adopting the delta-neutral arbitrage strategy. [ABSTRACT FROM AUTHOR]

The purpose of the article is to formalize the genesis of digital financial technologies (DFT), identify: the impact of its stages on the competitiveness of representatives of the financial and credit sector (RFKS), the features of digital competition; quantitative assessments of the specified impacts. Achieving this goal has scientific and practical significance, in particular, for the formation of an effective digital strategy of the RFKS. It is noted that the genesis of digitalization was not uniform and took place in stages, which are a consequence of the level of development of the DFT, the need to adapt the RFKS to them and determine the peculiarities of the competition of the RFKS. The dynamics of changes in the market share by types of digital financial services of fintech companies were studied, and a significant fluctuation in their competitive positions was noted. It is indicated that the complex application of DFT by fintech companies gives them the opportunity to strategically gain a significant competitive advantage over traditional RFKS. The prospects of mutually beneficial cooperation in the market of digital services of fintech companies and banks are indicated. It is noted that a new phenomenon is manifested on the example of fintech companies - mutual multiplicative strengthening of the development of DFT, which leads to increased competition. According to the results of the study of the effects of digitalization on the PFKS, the factors of the formation of threats to the competitiveness of banks in a strategic plan are determined and the directions of actions of institutional structures that will contribute to the strengthening of the market competitiveness of non-bank financial structures are indicated. [ABSTRACT FROM AUTHOR]

Objective: The purpose of this research is to apply the meta-synthesis technique to identify optimization components of FinTech based on artificial intelligence (AI) indicators in the financial market. AI offers the financial industry a unique opportunity to reduce costs, improve customer experience, and increase operational efficiency, among other benefits. Financial companies can provide excellent financial services to their clients. Various features of AI are used by different FinTech companies worldwide to make operations safer and more efficient. Methodology: The researcher employed a systematic review and meta-synthesis approach to analyze the results and findings of previous researchers. By following the seven-step method of Sandelowski and Barroso, the researcher identified influential factors. Out of 198 articles, 35 were selected based on the CASP method. The validity of the analysis was confirmed using Holsti's coefficient, Scott's Pi coefficient, Cohen's kappa index, and Krippendorff's alpha. For reliability measurement and quality control, the transcription method was used, which was found to have an excellent agreement level for the identified indicators. The results from the data analysis, conducted using MAXQDA software, led to the identification of 21 initial codes in four categories. Findings: Based on the meta-synthesis method, 21 codes were identified in four categories. The validity and reliability of the research findings were confirmed. The identified categories include machine learning algorithms, text analysis and information extraction, portfolio optimization, and recommender systems. In FinTech optimization, one of the fundamental components is machine learning algorithms. Conclusion: The use of artificial neural networks for predicting market prices, detecting price patterns, and structuring an optimal investment portfolio has significantly improved the performance of capital management systems. Additionally, genetic and evolutionary algorithms have been effective in optimizing parameters and structures of financial models, aiding in achieving optimal investment solutions. However, it is essential to recognize that while AI indicators can enhance financial system performance, one must also be aware of the associated limitations and risks. These include issues such as model complexity, sensitivity to input data, and risks related to machine decisionmaking. [ABSTRACT FROM AUTHOR]

Copyright of Meta: Avaliação is the property of Revista Meta: Avaliacao and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This article deals with the liability of the supervisory authority of the financial market. It could be questioned whether the supervisory authority, as the public authority, is liable for the supervisory performance. If the answer is yes, then the question is what kind of liability could be found and if any special conditions (prerequisites) are needed. In general, there could be two lines of public liability found. One is systemic liability for the safe financial market—e.g., financial market stability. The other perspective is individual liability for damages caused by unlawful administrative procedure or maladministration, where unlimited strict liability is granted. This kind of liability might be widely questioned, especially when the central bank is the supervisory authority, like in the Czech Republic, Slovakia, Hungary, and other EU member states. This article aims to evaluate the liability of the supervisory authority in the Czech Republic and Hungary concerning the European level of such liability. [ABSTRACT FROM AUTHOR]

Purpose: This study examines the impact of social media investor sentiment on the stock market performance through qualitative and quantitative proxies. Design/methodology/approach: The authors use a sample of daily stock performance related to S&P 500 Index for the period from December 18, 2017, to December 18, 2018. The social media investor sentiment was assessed through qualitative and quantitative proxies. For qualitative proxies, the study relies on three social media resources": Twitter, Trump Twitter account and StockTwits. The authors proposed 3 methods to reflect investor sentiment. For quantitative proxies, the number of daily messages published from Trump Twitter account and StockTwits is considered as a signal of investor sentiment. For regression model, the study adopts the autoregressive distributed lagged to determine the relationships between the nonstationary series. Findings: Empirical findings provide evidence that quantitative measures of investor sentiment have significant effects on S&P'500 performances. The authors find that Trump's tweets should be interpreted with caution. The results also show that the number of Trump's tweets on t−1 day have a positive effect on performance on day t. Practical implications: Social media sentiment contains information for predicting stock returns and transaction activity. Since, the arrival of new information in capital markets triggers investor sentiment on social media. Originality/value: This study investigates the investors' sentiment through social media and explores quantitative and qualitative measures. The amount of information on social media reflects more the investor sentiment than content analysis measures. Peer review: The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-12-2022-0818 [ABSTRACT FROM AUTHOR]

The financial market is the driver of the economic growth and development of any country. A sound financial market can take the country to the apex. Financial resources were by allocating the resources through one of the ways such as portfolios, which are combinations of various securities. Portfolio analysis includes analyzing the range of possible portfolios that can be constituted from a given set of securities. [ABSTRACT FROM AUTHOR]

Political risk, one of the most significant uncertainty shocks, affects firms' future attitudes toward risks and plays a crucial role in their decision making. A stock price crash risk is a classical topic in financial markets; therefore, this paper probes the relationship between firm-level political risk and stock price crash risk based on a sample of Chinese listed firms from 2011 to 2020. This paper collects the MD&A textual material of Chinese listed firms and calculates the firm-level political risk of Chinese listed firms. Our results show that a firm's stock price crash risk is positively associated with its firm-level political risk exposure. Our findings hold after conducting various robustness tests, including instrument variable regression and altering the measurement of stock price crash risk. Further discussion reveals that political involvement mitigates the positive effect of firm-level political risk on the risk of a stock price jump. [ABSTRACT FROM AUTHOR]

The development of financial technologies fundamentally changes the face of the financial market, the speed of execution of financial transactions, and opportunities for attracting new customers. The growing role of digital assets (forecast 2024 AUM USD 80.08 billion, the number of users in the digital payment market will grow to 4805.00 million people by 2028) opens up a whole range of issues that arise before the regulatory authorities of different countries, and which need to be regulated, following the rules of the open free market on the one hand, and protecting both entire financial systems and individual users from possible risks arising from the development of new financial technologies. The main goal of the presented research is the analysis and systematization of existing approaches that are used to regulate the activities of economic entities such as FinTech and TechFin, including in the field of circulation of cryptocurrencies as an element of the financial technology market, as well as the substantiation of opportunities and threats for the traditional financial market, which arise as a result of the active development of FinTech and TechFin companies. As a result of a comparative analysis of the characteristics of FinTech and TechFin companies, it was established that these players in the financial market are differentiated by such features as access to capital, access to technology, access to databases, availability and the possibility of using technological infrastructure. It has been established that the absence or low level of harmonization of regulatory norms regarding the provision of financial services can limit competition, provoke unscrupulous behaviour in the market, and negatively affect consumers of financial services. It has been proven that it is the harmonization of regulatory requirements and their differentiation according to established distinctive features that will contribute to preserving the integrity of financial markets and financial inclusion.

In the 21st century, various socio-economic crises have revealed that traditional economic science and (neo)classical thinking are unable to explain all the complexity of current economic problems, therefore the application of more complex and non-trivial economic concepts is gaining relevance. In addition to behavioral and evolutionary economic thinking, models of quantum economics have been developed in recent years, which allow solving economic problems, using mainly quantum thinking and the principles of quantum physics, in particular particle-wave dualism, the principle of uncertainty, the absence of a subject-object distinction, superposition and confusion. The article addresses 3 research questions (RQ). According to RQ1, the paper finds that quantum economics research is dominated by the following topics: quantum economics, quantum finance, quantum decision making, and quantum game theory. According to these four thematic descriptors, the article carries out a systematic modern review of scientific works in the period from 1978 to 2022 (if only 50 works were published in 1978-1999, then in 2000-2022 already 3430), with an emphasis on the most cited (Google Scholar) English-language journal articles. The analysis showed that articles on this topic are published mainly in journals of a non-economic profile, that the peaks of publication activity occur at times of powerful socio-economic upheavals (for example, the dot.com bubble, the substandard/financial crisis, the European debt crisis, the coronavirus pandemic, etc.). In accordance with RQ2, the article defines the key characteristics of the quantum economic model: in contrast to neoclassical economics (based on mechanistic classical physics, is rational and deterministic, with the help of the invisible hand of the market it leads to a stable equilibrium), the quantum approach, on the contrary, considers the economy as more complex, empirically oriented, uncertain, probabilistic, superpositional, as an archetypal example of a quantum social system that has its own versions of duality, measurement, and entanglement. According to RQ 3, the article determines to what extent quantum economics can update (neo)classical economics (integration of new ontological premises into economic thinking, more experimental and practical approach, connection between the concept of entanglement and sustainable development, management of financial risks based on the concept of quantum probability, rethinking the concept of randomness by quantum probability, introduction of quantum money, equilibrium using quantum games, etc.).

In the evolving global economic landscape marked by technological advancements, liberalized markets, and the ascent of multinational corporations, Islamic banks have emerged as pivotal entities within the new economic paradigm, addressing the financial needs of societies eschewing Riba (interest) transactions. This study investigates the impact of Islamic banks' profitability indices on the performance of the Amman Stock Exchange (ASE) through the lens of the Stock Price Index (PIX) over the period 2011-2021, with Jordan serving as the focal point due to its significant financial sector development, particularly in Islamic banking. Employing a quantitative analysis approach, the study leverages financial data from three major Jordanian Islamic banks and the ASE, applying statistical tools within the EViews software for analysis. The findings indicate a positive and significant relationship between the profitability indices of Islamic banks and the PIX, affirming the hypothesis that Islamic banks' profitability indices significantly influence the ASE's performance. This relationship underscores the integral role of Islamic banking in enhancing financial market performance, particularly in economies with a substantial Islamic banking sector. The study highlights the resilience and success of Islamic banks amidst global economic challenges and their ability to positively impact the financial market's performance, recommending further research on the multifaceted effects of Islamic banking on market dynamics and advocating for liquidity management to bolster economic activity and market performance.

The article provides an overview of the institutional aspects of regulating the securities market professional participants’ activities, allowing to identify key shortcomings in their functioning and reveal the insufficient effectiveness of control measures. The aim is to develop a concept of financial control taking into account the identified problematic factors and ensure the possibility of improving the financial control system in the context of professional participants representing the subjective side of the financial market. The methodological novelty of the author’s approach lies in the research algorithm. It includes creating the state financial control concept for the securities market professional participants’ activities based on the analysis of scientific literature, the definition of characteristic problems in the state financial control, the disclosure of the structure of its improvement concept by creating indicators for monitoring and formulating proposals for implementing the recommended measures. The financial control procedure ensures the activities’ legality, the implementation of the current regulatory framework for conducting transactions of financial resources, the openness and accessibility of financial transaction mechanisms. Currently, there are organizational and regulatory gaps that directly affect the financial control procedure, caused by, among other things, digital solutions, the introduction of the digital ruble and a number of other transformations. The result of the research is the author’s concept aimed at improving the financial control system of securities market professional participants’ activities.

In the current conditions, the Russian financial market has demonstrated its stability and ability to promptly respond to the ongoing changes in the geopolitical sphere, while the banks that control more than 80 % of the country’s assets are under sanctions. The article considers and analyzes the Russian consumer lending market in modern conditions. It reviews the crisis periods of the Russian financial market from 2014 to 2023 and the anti-crisis measures of the Central Bank of the Russian Federation, the domestic consumer credit market in the current realities, and loans restructuring to individuals under sanctions pressure. The purpose of the study is to determine main trends in the consumer credit market development based on the analysis of the Russian consumer credit market under sanctions pressure. The object of the study is the domestic consumer credit market in modern conditions. The subject of the study is trends in the Russian consumer credit market development under sanctions pressure. The sources of information were analytical materials and statistical reporting data of the Central Bank of the Russian Federation, laws and regulations, domestic and foreign scientific literature, and analytical and reference online resources.

Currently, the Jordanian economy needs more investment due to the growing financial deficit facing the Jordanian state. Therefore, this study came to increase investors' trust in financial reports issued by Jordanian companies to attract more investments. Based on that, this study will investigate the impact of audit committee dimensions on the efficiency of financial reports of limited partnership companies listed on the Amman Stock Exchange. The data were collected from financial reports issued by 52 limited partnership companies for the year 2021. The study used multiple regression to test the hypotheses. Based on the findings, audit committee dimensions explained the variation in financial reports' efficiency which reached 0.629. The audit committee members' size does not significantly affect the financial reports' efficiency. The significance reached 0.287. However, the knowledge of financial management has a significant positive effect on financial report efficiency; the significance reached 0.000 and the effect volume arrived at 0.699. Also, the findings showed that audit committee meetings have a greater effect on financial reporting efficiency than financial management knowledge. The impact was significantly positive, arriving at 0.790, while the significance reached 0.000. The main research conclusion is that limited partnership companies listed on the Amman Stock Exchange adopt corporate governance to achieve control effectiveness of audit committees to increase financial reporting efficiency to achieve more investments. AcknowledgmentThe publication of this research has been supported by the Deanship of Scientific Research and Graduate Studies at Philadelphia University – Jordan.

This novel work is the first study in India to incorporate the Human capital (HC) factor as a six-factor asset-pricing model and presents a robust methodology. The aim of this work is to examine the ability of the six-factor model to capture excess returns using a GMM framework with time periods that were missing in previous studies. Therefore, data for this study were collected using the BSE 500 index. Building on this insight, this study attempts to explain the inherent risk factors (firms and markets) that predict returns over a period of time, considering the dynamics of the Indian market. The GRS test also confirms the superiority of the six-factor model for the Indian equity market. The study asserts that the Instrumental variable- Generalized method of moments (IVGMM) is a robust model over OLS in explaining portfolio returns (single and bivariate), which implies that OLS in the asset pricing model is exaggerated in the Indian context. Single portfolios are constructed based on the factors of size, value, ROE, INV and human capital, while bivariate portfolios are constructed based on the intersection of any these two factors. This study confirms the significant role of HC (wealth) in describing the stock returns of an economy. This study contributes to the ongoing discourse on asset pricing models and offers valuable implications for investment decisions, risk management, and portfolio construction in one of the most attractive global financial markets.