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This paper aims to determine whether Islamic banks (IBs) and conventional banks (CBs) in Tunisia are distinguishable from one another based on financial characteristics during the 2005–2014 period covering the 2008 global financial crisis (GFC) and the 2011 Tunisian revolution.

For the comparison between IBs and CBs, 11 hypotheses are formulated to distinguish between the two types of banks. The authors use a univariate analysis based on the multi-dimension figures investigation and a multivariate one based on the robust OLS technique for panel linear regression with mixed effects.

Bank-specific factors, dummy and dummy interacting variables indicate that there are differences between Islamic and conventional bank behavior. Both methods show that IBs are more liquid, more profitable and riskier than CBs. Post-2011 Tunisian revolution, small IBs (small CBs) are more (less) solvent, large IBs are more stable and both types of banks are more liquid, which explain why Tunisian governments have relay on bank system to cover budget deficits post-2011 revolution.

In investigating the feature of IBs and CBs from the Tunisian context, the authors take into account the effect of two abnormal events (2008 GFC and 2011 Tunisian revolution) on IBs through interaction variables.

This study investigates the nexus between the returns on oil prices (OP) and unemployment (UR) while taking into account the influences of two of the most representative measures of uncertainty, the Baker et al. (2016) and Caldara and Iacovello (2021) indexes of economic policy uncertainty (EP) and geopolitical risks (GP), in the relationship.

The authors use data on the US, Canada, France, Italy, Germany and Japan from January 2000 to February 2022 and the UK from January 2000 to December 2021. The authors then apply the continuous wavelet transform (CWT), wavelet coherence (WC), partial wavelet coherence (PWC) and multiple wavelet coherence (MWC) to examine the returns within a time and frequency framework.

The CWT tracks the movement and evolution of individual return series with evidence of high variances and heterogenous tendencies across frequencies that also align with critical events such as the GFC and COVID-19 pandemic. The WC reveals the presence of a bidirectional relationship between OP and UR across economies, showing that the two variables affect each other. The authors’ findings establish the predictive influence of oil price on unemployment in line with theory and also show that the variation in UR can impact the economy and alter the dynamics of OP. The authors employ the PWC and MWC to capture the impact of uncertainty indexes in the co-movement of oil price and unemployment in line with the theory of “investment under uncertainty”. Taking into account the common effects of EP and GP, PWC finds that uncertainty measures significantly drive the co-movement of oil prices and unemployment. This result is robust when the authors control for the influence of economic activity (proxied by the GDP) in the co-movement. Furthermore, the MWC reveals the combined intensity, strength and significance of both oil prices and the uncertainty measures in predicting unemployment across countries.

This study investigates the relationship between oil prices, uncertainty measures and unemployment under a time and frequency approach.

1. Wavelet approaches are used to examine the relationship between oil prices and unemployment in the G7.

2. We account for uncertainty measures in the dynamics of oil prices and unemployment.

3. We observe a bidirectional relationship between oil prices and unemployment.

4. Uncertainty measures significantly drive oil prices and unemployment co-movement.

5. Both oil prices and uncertainty measures significantly drive unemployment.

Wavelet approaches are used to examine the relationship between oil prices and unemployment in the G7.

We account for uncertainty measures in the dynamics of oil prices and unemployment.

We observe a bidirectional relationship between oil prices and unemployment.

Uncertainty measures significantly drive oil prices and unemployment co-movement.

Both oil prices and uncertainty measures significantly drive unemployment.

The purpose of this study is to examine various key aspects associated with entrepreneurs’ behaviour following a long-term crisis. Specifically, the study compares the perceptions of female and male entrepreneurs operating in Cyprus and Greece concerning success factors and firm performance in the aftermath of the global financial crisis. Conceptually, the study considers the organisational adaptation literature (Miles and Snow’s typology).

The views of female and male micro and small firm owners-managers operating in Greece and Cyprus, a total of 406, were gathered through a questionnaire. To analyse the quantitative data, independent samples t-test and exploratory factor analysis were applied.

Participants’ responses reveal similar levels of perceived importance between genders regarding adaptive measures and strategies to confront a long-term crisis, as well as perceived firm performance. Nevertheless, exploratory factor analysis highlights differences in how male/female entrepreneurs perceive actions that, as in the case of financial management, can safeguard the immediate outlook of the firm.

While scholarly discourses on gender and entrepreneurship abound, important knowledge gaps still exist, for instance, in entrepreneurs’ problem-solving strategies adopted by female and male entrepreneurs following crises. In addressing this scholarly gap cross-culturally, that is, drawing on cross-national data (Cyprus and Greece); the present study makes an important contribution. Empirically, the study ascertains similar entrepreneurial behavioural characteristics between female-male entrepreneurs. Theoretically, the study validates Miles and Snow’s typology and develops a theoretical framework linking the typology and dimensions emerging from the empirical findings.

This paper aims to examine the return and volatility transmission among economic policy uncertainty (EPU), geopolitical risk (GPR), their interaction (EPGR) and five tradable precious metals: gold, silver, platinum, palladium and rhodium.

Applying time-varying parameter vector autoregression (TVP-VAR) frequency-based connectedness approach to a data set spanning from January 1997 to February 2023, the study analyzes return and volatility connectedness separately, providing insights into how the data, in return and volatility forms, differ across time and frequency.

The results of the return connectedness show that gold, palladium and silver are affected more by EPU in the short term, while all precious metals are influenced by GPR in the short term. EPGR exhibits strong contributions to the system due to its elevated levels of policy uncertainty and extreme global risks. Palladium shows the highest reaction to EPGR, while silver shows the lowest. Return spillovers are generally time-varying and spike during critical global events. The volatility connectedness is long-term driven, suggesting that uncertainty and risk factors influence market participants’ long-term expectations. Notable peaks in total connectedness occurred during the Global Financial Crisis and the COVID-19 pandemic, with the latter being the highest.

Using the recently updated news-based uncertainty indicators, the study examines the time and frequency connectedness between key uncertainty measures and precious metals in their returns and volatility forms using the TVP-VAR frequency-based connectedness approach.

The concept of compliance is in danger of becoming obsolete as a result of its generalization and overuse. This paper aims to refine the concept of a culture of compliance and its effective implementation in association with financial regulations, in line with the societal expectations of compliance.

This paper begins by assessing the watershed reconception of compliance in light of the Global Financial Crisis of 2008 (GFC). The influence of financial incentivization and structural weakness is highlighted above all. Recommendations focusing on the significance of the corporate context are made from this and viewed in relation to the growing relevance of compliance in regulating cyberspace.

Individuals and their decision-making are heavily influenced by the culture of their environment. Clearly, defining the values behind regulations encourages employees to follow the rules based on the principles that underlie them rather than out of fear of punishment, risk aversion or a sense of the “tick-box” duty. This contributes to the longevity of healthy compliance rather than a compliance fatigue.

By casting a look back at the development of compliance, the modern social expectations of compliance can be elucidated and, in turn, translated into mechanisms for corporations to effectively use. The literature on compliance has grown substantially but often limits itself to commentaries on the history of non-compliance or sector-based investigations. Hinged between the past and future of compliance, this study contributes to bridging a considerable gap in the literature by using a wider lens and positive redefinition of compliance.

This study systematically reviewed existing literature on the impact of economic uncertainty on property performance to highlight focus areas and spur future research amid unprecedented global uncertainty levels. Conceptually, uncertainty levels and environmental dynamism are related to investors' risk judgement and decision-making.

Peer-reviewed journal articles published from 2007 to 2022 were assembled and arranged through the Scientific Procedures and Rationales for Systematic Literature Reviews (SPAR-4-SLR) protocol. The initial search produced 2,028 results from the Web of Science and Scopus databases, which were rigorously purified for a final dataset of 70 articles. These records were subsequently assessed through content analysis, bibliographic modelling, topic modelling and thematic analysis. Recurring themes were visualised using the VOSviewer software.

The existing literature suggests that economic uncertainty negatively impacts investment volumes, returns and performance. Research has also increased since 2018, with a strong emphasis on the housing sector and developed property markets. Commercial property and emerging markets account for only 10 and 8% of previous research, respectively.

These findings highlight the negative impact of economic uncertainties on property performance and investment volumes, which necessitate careful risk assessment. Given the high susceptibility of emerging and commercial property markets to uncertainty, these markets warrant further research amid ongoing uncertainty concerns across the globe.

Given current unprecedented levels of global uncertainty, the effects of economic uncertainty have received renewed interest. This study synthesised the current understanding of how different property markets respond to increased uncertainty and outlined future research directions to enhance understanding. Themes and relationships were also integrated into a conceptual map summarising the reported effects of economic uncertainty on housing, commercial property, investment and behaviour in the property market.

The literature mostly investigates the business cycle transmission of the United Kingdom (UK) and France as a part of a wider group (e.g. European Exchange Rate Mechanism or G7), despite their historical links and regional significance. Thus, herein paper aims to analyse the inter-dependence of these economies and how a shock from one of them affects the other for the data since 1978 to 2019.

In this paper, first, preliminary statistics were calculated in order to describe the historical relationship between these countries. The econometric part estimates the vector auto-regression model (VAR) to assess the inter-dependence of the economies. VAR model allows further to inspect the impulse response functions that shows the shock dynamics from one country to another. In order to verify if a shock from one of the economies is important to another, the study uses granger causality test.

The study establishes a strong link between these countries. A business cycle is transmitted significantly between the economies of France and UK, with a single standard deviation shock from France resulting in a long term effect of 0.4% change in gross domestic product (GDP) of UK and 1% vice versa. Additionally changes in GDP of both of the countries significantly Granger-cause change to GDP of the corresponding economy.

This is the first empirical study investigating the business cycle transmission between France and UK and providing a quantitative assessment of their inter-dependence.

The purpose of this study is to investigate the impact of leverage, regulatory capital and tier-I capital ratios on the ex ante and ex post risk of Japanese banks.

To test the hypotheses, the authors have implemented a panel of 507 commercial and cooperative banks of Japan over the period extending from 2001 to 2020, using a two-step system Generalized Method of Moments (GMM) framework.

The overall sample banks' results show that the impact of leverage, regulatory capital and tier-I capital ratios on ex ante and ex post risk is positive. The findings reveal that the effects of regulatory and tier-I capital ratios on ex post risk are negative (positive) for commercial (cooperative) banks, high-liquid, low-liquid and high-growth banks in Japan. In addition, the regulatory capital ratio is more beneficial for risk due to its power to absorb losses. The lagged coefficient indicates that banks require more time to adjust their ex post and ex ante risk during crisis period than during normal economic conditions.

The heterogeneity in results has practical implications for regulators, policymakers and bank managers in formulating the capital requirement guidelines with respect to ex ante and ex post risk across different categories and characteristics of banks.

To the best of the authors' knowledge, this is the first study investigating the impact of leverage, regulatory capital and tier-I capital ratios on the ex ante and ex-post risk of Japanese commercial and cooperative banks over the period from 2001 to 2020. The insights into the impact of leverage, regulatory capital and tier-I capital ratios on the ex ante and ex post risk of well-capitalized, under-capitalized, high and low-liquid banks are new in the context of Japan.

The intent of this Practice Briefing is to provide clarity on drivers of property pricing in a changing economic environment. The principal basis of this analysis is to investigate how properties have been priced relative to interest rates over the long haul. Such an insight may help investors navigate the world of property investment in a post zero interest-rate policy (ZIRP) world.

This practice briefing is an overview of the role of economic drivers in pricing property in different economic eras pre- and post-ZIRP. It looks at returns over time relative to risk criteria and growth.

This briefing is a review of property pricing and its relationship to economic drivers and discusses the concept of return premiums as a market indicator to spot under/over-priced property assets in the market.

This briefing considers the implications of identifying salient and pertinent market indicators over time as bellweathers for property pricing. Good property investment is grounded in understanding when assets are under and overpriced relative to investors’ expectations of growth and returns going forward. An understanding of markets and the current indicators thereof can provide investors with insights into those criteria.

This provides guidance on how to interpret markets and get an understanding of property pricing over time.

This study aims to examine the literature from the Web of Science database published on board committees between 2002 and 2023 and outline the quantitative summary, journey of board committees’ research and suggest future research directions.

This study examines bibliometric-content analysis combined with a systematic literature review of articles on board committees to document the summary of the field. The authors used co-citation, co-occurrence and cluster analysis under bibliometric-content analysis to present the field summary.

Board committee composition, such as their gender, independence and expertise, as well as factors affecting corporate governance, such as reporting quality, earnings management and board monitoring, all have a significant impact on board committee literature. The field is getting growing attention from authors, journals and countries. Nevertheless, there is a need for further exploration in areas like expertise, member age and tenure, the economic crisis and the nomination and remuneration committee, which have not yet received sufficient attention.

This paper has both theoretical and practical contributions. From a theoretical perspective, this study substantiates the prevalence of agency theory within board committee literature, reinforcing the foundational role of agency theory in shaping discussions about board committees. On practical ground, the comprehensive overview of board committee literature offers scholars a road map for navigating this field and directing their future research journey. The identification of research gaps in certain areas serves as a catalyst for scholars to explore untapped dimensions, enabling them to strengthen the essence of the committees’ performance.