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To take relative actions to cope with the threat which network finance information security now encounters by constructing controlling tactical and synergetic model.

It is practical to use the synergetic self‐organization theory to calculate the effects that the force of synergetic system of controlling tactics to financial information security makes on network financial system, and it is also practical to construct the synergetic model of controlling tactics to network financial information security on the basis of it.

Through applying synergetic analysis to controlling tactical system of network financial information security, it can be found out that controlling tactical system is an open system which changes from disorder to order and which keeps away from a balancing state. As an opening system, controlling tactics are interacting with outside from now and then.

Network financial information security takes on dynamics, relativity, integrity and complexity. Accessibility of data is the main limitations which model will be applied.

From the view of network financial information security, constructing controlling tactical and synergetic model of information security are explained.

Network finance is orientated as a special social and economic system. The author does analysis on the network financial system, and expounds order parameters and model of network financial system.

This is the second of two papers which examine the question of whether Arab securities regulations can be the subject matter of a methodological study in comparative securities regulation, especially with reference to EU regulations. Part One was published in Journal of Financial Regulation and Compliance Volume Eight, Number Four. This paper addresses the specific juridical impact of Shari'a on capital markets, before looking at its impact on capital market laws of Jordan, Kuwait and Oman. In order to provide an empirical insight into existing Arab securities regulations, the paper also surveys the securities and company laws in the aforementioned countries. Such a discussion also includes a brief examination of market conditions, especially the early factors that accompanied the genesis of such Arab securities markets, notably in Kuwait. The paper concludes by addressing the question of the suitability of the Arab markets selected for this study to comparative studies in EU securities regulation, especially in the context of contemporary internationalisation of securities regulation. It explains in the process why the European experience is relevant (particularly in light of the many EU—Arab association agreements to take effect from 2010, together with EU ‘harmonisation’, ‘minimum standards’, and ‘single passport’ regulatory concepts).

The paper empirically investigates the impact of financial inclusion on food security. Subsequently, it examines the overall effect of various dimensions of financial inclusion on food security of developing countries using the panel data for the time period of 2004–2019.

To overcome the problem of endogeneity, the study has used a fixed-effect model, two-stage least-square and system generalized method of moments estimation techniques. Secondary data was collected from various websites such as WDI, FAO, UNICEF and UNESCO.

It was found in the study that there is a significant effect of financial inclusion on food security. The evidence shows that if there is more financial inclusion in the country, it will help poor people to cope with difficult situations they face and provide them food security. Financial development, per capita income, agriculture growth and education positively affect food security, while militarization and urbanization have a negative impact on food security. The crux of the analysis is that any country's financial sector is an integral part of any country that supports food security.

The literature does not clearly show the impact of financial inclusion dimensions on developing countries' food security. Therefore, there is a need to use all the dimensions of financial inclusion to check the overall impact on food security. For this purpose, the financial inclusion index is developed. A new dimension of non-life insurance is introduced that has not been used previously by any researcher to check financial inclusion impact.

This paper examines comparative aspects of Arab securities regulation. It provides a general introduction, overviews the aims of securities regulation and the UK regulatory framework, and outlines the obstacles facing equity financing under Shari'a and hindrances to effective Arab securities regulation. It accounts for the major macroeconomic reasons which have enhanced interest in Arab securities markets, examines lack of Arab rules on fraud, insider dealing and possible contractual remedies. It concludes with a case study shedding light on the term ‘securities’ as understood by Article 3 of the 1997 Jordanian Securities Act.

The purpose of this study is to examine if public policy satisfaction is related with perceived financial security. The public policy examined is an emergency income policy in Brazil.

The authors used a questionnaire to interview a random sample of 235 single-parent women who received Emergency Aid (EA) resources in Brazil during the pandemic. The questionnaire included measures of financial security, financial anxiety, financial resilience and profile aspects. The authors applied a multiple regression approach to identify the determinants of financial security during the pandemic.

Our findings show that factors such as satisfaction with the emerging income policy and financial resilience are positively related to perceived financial security. Financial anxiety, financial fragility and job loss in the pandemic are negatively related with perceived financial security.

While our results correspond to a random probabilistic sample of women residing in southern Brazil, they may not be generalizable to Brazil as a whole.

This study provides evidence of the financial situation in the pandemic for the lives of economically vulnerable women. The research encourages government and financial institutions to understand the unique challenges faced by vulnerable populations during the pandemic and analyzes the direct results of EA. The study contributes to the establishment of policies to support vulnerable populations, encouraging security and financial resilience.

This research is innovative in its analysis of women’s financial situations during the pandemic, taking into consideration both behavioral aspects and profiles. Our focus on a specific case of emergency income policy adds to the understanding of the relation of such policies on vulnerable populations.

The purpose of this paper is to measure how frequently innovative financial products appeared or became widely adopted in the municipal securities markets over the last two decades; and also investigate what types of issuers adopted the innovations, the relationship between yields and innovation and the patterns of diffusion within states.

Using comprehensive data on municipal securities issued from 1992 to 2015, the author searches for financial innovations as defined in the literature. The author uses issuer fixed effects models to characterize the relationship between yields and use of innovative products. Other models provide estimates of the conditional correlations between issuer characteristics and innovation usage. Finally, the author fits trend models to identify significant differences in the pace of adoption between different types of issuers.

In total, 35 security features fit one or more definitions of innovation. Extensive analysis is presented for four innovations that represent significant transfers of risk: variable rates, put options, corporate backers and derivatives. Small issuers used these innovative products, but the largest issuers adopted them to a greater extent. Usage appears to diffuse within states. Issuance of innovative securities fell during the financial crisis and has not recovered. Novel securities since the financial crisis have been created by legislation rather than by market participants.

The data appear to cover all or nearly all municipal securities, but they do not cover loans or other types of municipal borrowing.

This analysis reveals that financial innovations in municipal securities markets usually take the form of a rare practice becoming widespread rather than a never-before-seen feature appearing in the market. Changes in response to legislation are an exception.

Regulators concerned about financial stability can monitor the expansion of formerly rare securities features. This will be informative about new risks or transfers of risk in the market. They can also anticipate that expanded use of an innovation by states and high-volume issuers will be followed by adoption of the innovations by smaller, less sophisticated issuers in subsequent years.

This paper is the first attempt to empirically analyze the extent of financial innovation in municipal securities. Existing public finance literature has proposed definitions of financial innovation, qualitatively documented some specific innovations and empirically analyzed others. However, no previous study has empirically analyzed the entire municipal securities market for all possible innovations.

From a financial stability viewpoint, this paper aims to study cyclical interdependencies arising from the cross-holding of securities in the Colombian financial system.

Cross-holding of securities in financial systems occurs when two financial institutions hold securities issued by each other or when more than two financial institutions hold securities issued by each other in a circular structure. Securities cross-holding is key for financial stability because of potential contagion arising from cyclical interdependencies in the connective architecture of financial systems. The presence of cyclical interdependencies is studied based on network analysis. The data set is a multilayer network that comprises bonds, certificates of deposit and equity issued and held by Colombian financial institutions from 2016 to 2019.

Results show that the extent of securities’ cyclical interdependencies is particularly low and stable – even when cross-holding across different types of securities is considered.

The monetary value of exposures and their size with respect to financial institutions’ balance sheets are not considered. Studying the impact on the financial system’s solvency is a compulsory research path.

The network topology suggests that increased potential contagion by cyclical interdependencies and feedback effects from securities cross-holding is rather limited.

To the best of the authors’ knowledge, this is the first time that cyclical interdependencies arising from the securities cross-holding are studied. From a financial stability perspective, the methodology is general and promising for monitoring and analytical purposes.

This study aims to empirically investigate the relationship between enterprise risk management (ERM) and information technology (IT) security within the financial sector.

Risk officers of financial institutions licensed by the Central Bank of Ghana constituted the sample frame. A structured questionnaire was used to elicit data from the respondents. The structural equation modeling method was employed to analyze the hypothesized model.

The results revealed that ERM has a strong positive substantial effect on IT security within financial institutions. However, organizational culture failed to moderate the relationship between ERM and IT security.

A well-managed risk helps to eliminate ineffective, archaic and redundant technology as the originator of rising perils and organizational concerns in today's corporate financial institutions since ERM established a substantially strong positive correlation among the variables.

ERM studies in the African context are rare. This paper adds to contemporary literature by providing a new perspective toward the understanding of the relationship between ERM and IT security, especially in the financial industry.

Although few studies indicate that financial concerns matter to social entrepreneurs, the literature is unclear about the extent to which a financial motive affects the intention to start a new social enterprise. Moreover, prior research suggests that the intention to start a new enterprise heavily depends on the societal context in which the enterprise operates. Therefore, this study aims to examine the seminal model of social entrepreneurial intention (SEI) developed by Hockerts (2017) in a different social context; additionally, it proposes a new antecedent of SEI – perceived financial security.

This study used two different measurement scales and samples (n = 436 and 241) in a developing country to validate the model and propose a new antecedent, i.e. the perceived financial security, of SEI. Furthermore, the authors employed the partial least square-structural equation model to test the hypotheses.

The results demonstrate that social entrepreneurial self-efficacy, perceived social support and perceived financial security directly predict SEI; they further mediate the relationship between prior experience and SEI. Consequently, the model by Hockerts is extended.

This study established perceived financial security as a strong antecedent of SEI, thereby offering a novel insight that a social entrepreneur can be motivated by potential financial concerns.