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Introduction: The government has taken many initiatives for the overall growth of India after liberalisation and remarkably performed to make India an emerging economy. Due to changes in macroeconomic conditions, investment in companys’ shares includes the possibility of bearing high risk, which cannot be eliminated but, to some extent, minimised. The persistence of risks motivates investors to invest in different available options of investment. Gearing measures, a company’s financial leverage, represent the risk afforded within the company’s capital structure.

Purpose: The research aims to identify the risk-return analysis of financial geared stocks of Nifty 50 companies in India, which have debt equity ratios of more than 1.

Methodology: Convenience and cluster sampling techniques were used to identify companies with debt equity ratios of more than 1. The considered time period is 2010–2019.

Findings: This research found capital structure ratios, debt equity ratio, and total debt ratio. The total equity ratio does not have any visible effect on any of the dependent variables, i.e., Return on equity (ROE), Return on Assets (ROA), Earnings per share (EPS), Return on capital employed (ROCE). It explains the impact of high-levered firms’ performance on profitability and functioning. The study highlights that highly geared companies do not significantly impact the ROA, proving Modigliani and Miller’s (1958) irrelevant theory.

Purpose: This study analyses how investments and specific financial factors affect the financial performance of businesses in Kosovo. Exploring the relationship between investments and financial performance and their impact on performance volatility, performance is assessed using return on assets (ROA) and return on equity (ROE) investments.

Methodology: Quantitative methods using secondary data from audited financial statements of Kosova manufacturing and commercial enterprises cover a 3-year period (2019–2021), involving 40 enterprises with 120 observations. Statistical tests such as descriptive statistics, correlation analysis, linear regression, Hausman–Taylor regression, fixed effects, random effects, and generalised estimating equations (GEE) model are applied. The study also utilises ARCH–GARCH analysis to assess the relationship between investments and performance volatility.

Findings: Investments positively impact the financial performance of Kosova businesses and significantly reduce performance volatility. Long-term liabilities, retained earnings, and short-term liabilities also play a role in reducing asset return volatility, while cash flow from financial activities increases it. Investments, cash flows from financial activities, long-term liabilities, short-term liabilities, retained earnings, and solvency affect equity return volatility.

Practical Implications: The study sheds light on how investments and financial factors influence the financial performance and volatility of Kosova businesses. Policymakers can use these insights to create policies that foster the development of commercial and manufacturing enterprises, given their importance in Kosovo’s economy.

Significance: This research provides valuable insights for business managers to enhance investment strategies and improve financial performance. Policymakers can rely on this academic study to enhance the economic environment and promote the growth of businesses in Kosovo.

The aim of our study is to explore the nexus between the gender composition of board and firm financial performance. We use the data of 114 listed banks from 10 Asian emerging economies. Data were extracted from the DataStream for the year 2012–2021. We apply fixed effect model to analyze the data. In addition, we use generalized method of moments (GMM) to verify our main findings. We find that both proxies of board gender composition which are the proportion of female board members and the percentage of female executives on the board have a significant impact on banks' financial performance. Findings suggest that female representation on board provides more insights of monitoring and optimal advisory capabilities and, therefore, gender-diversified board enhances firm performance. Females are more active in business matters and take more interests to fulfill their responsibilities. The results of our study provide useful signals for corporate and regulatory policymakers. Board gender disparities between enterprises should be better understood by all stakeholders to have the optimal combination of board members that ultimately lead to better performance of the firm.

Although the phenomenon of the corporate social responsibility disclosure (CSRD) has derived the interest of several scholars, in recent years, the comparative studies between Islamic banks (IBs) regarding CSRD quantity versus quality have not been the subject matter of studies till now. In this perspective, this chapter aims to investigate the importance given by IBs to the quality and quantity disclosure of CSR. Moreover, it seeks to explore the impact of CSRD quality and quantity on the IBs' financial performance (FP). To meet these objectives, we used a sample of 59 IBs from 2011 to 2016 in the Arab world and non-Arab world. Then, by adopting the content analysis approach, the authors constructed two CSRD indexes (quality and quantity). The empirical results indicated that IBs give more importance to the qualitative disclosure than the quantitative. Our findings will be very helpful for the policymakers and the managers of IBs because maintaining a good CSRD policy increases the capacity of IBs to deal with possible reputational events, thus protecting their profits and financial results. As far as the comparison between the Arabian and non-Arabian IBs, based on financial reports and Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) governance standard N°7 is concerned, our study is among the first studies that provides two new CSRD indexes (quantity and quality).

The primary objective of this research is to conceptualize the integration of enterprise risk management (ERM) as a mechanism to enhance the connection between corporate sustainability (CS) reporting and financial performance. This study suggests that future researchers should validate the proposed conceptualization by conducting a comprehensive content analysis of sustainability reports of Malaysian oil and gas companies. This analysis will allow for the collection of pertinent data regarding CS reporting and ERM implementation. The present study takes a comprehensive approach by integrating legitimacy, stakeholder, and resource-based view (RBV) theories, proposing a robust conceptual design that emphasizes the role of ERM in the connection between CS reporting and firm performance. Drawing on theoretical foundations, this study proposes that CS reporting will have a direct effect on financial performance. Moreover, the integration of ERM serves to strengthen the nexus between CS reporting and financial performance. This study offers valuable insights for stakeholders in the oil and gas sector by providing strategic guidance to enhance financial performance not only through CS reporting but also by implementing ERM. Moreover, the framework proposed in this study is expected to bring tangible and intangible benefits to corporations, including reducing information asymmetry, improving the quality of disclosure, and creating value within the field of CS. The proposed conceptual framework holds great significance as it enhances the applicability of legitimacy, stakeholder, and RBV theories, while also creating value for stakeholders through CS reporting and the adoption of risk management practices to enhance financial performance.

This chapter provides a comprehensive investigation of the literature on sustainability reporting in Islamic banks using a content analysis of 200 English language articles published between 2000 and 2023. The data were collected from the Web of Science (WOS) database and analyzed using Bibliometrix in R software. This chapter addresses the trends of the most influential authors, institutions, countries, and research hotspots. This chapter fills one of the gaps in sustainability reporting literature, setting up a statistical description of the principal features of sustainable Islamic banking research and carrying out an analysis of its knowledge structure via bibliometric analysis. This chapter found that the number of articles on sustainability reporting in Islamic banks has increased over time; however, it is concentrated on a few core sources and authors, mostly related to Islamic finance, accounting, and ethics, as well as sustainability and social responsibility. The analysis of the co-authorship network shows a limited degree of collaboration between researchers from different clusters. The most productive and collaborative countries are Malaysia, the United Kingdom, and Pakistan, reflecting their well-developed and regulated Islamic banking industries that follow sustainability guidelines and frameworks. Moreover, the co-word analysis identifies 11 clusters and 43 keywords that represent the main topics and themes in the field, such as corporate governance, performance, disclosure, and risk. This chapter suggests some directions for future research and action on sustainability reporting in Islamic banks. This chapter contributes to the literature on sustainability in Islamic banking and the UN 2030 Agenda for Sustainable Development.

Corporate social responsibility (CSR) promotes society, reduces risk, and encourages ethical business practices. Due to its relevance, we study how CSR influences firms' sustainable development. We analyze data from 427 New York Stock Exchange (NYSE)-listed firms from 2008 to 2022. The Refinitiv environmental and social score is used to measure CSR, whereas for firms' sustainable development we rely on corporate sustainable growth rate (SGR) and market-based metrics. The analysis employs various econometric techniques, including ordinary least square, fixed effect regression, two-stage least square, generalized method of moment, and simultaneous quantile regression. The results indicate that CSR has a positive and significant effect on firms' sustainable development across all models. This relationship supports the notion that socially responsible business can contribute to long-term financial sustainability in line with “stakeholder theory”, indicating that companies should accommodate the concerns of various stakeholders, including society and the environment, to achieve sustainable development. We evaluate how the conditional distributions of SGR and firms’ value are affected by CSR, categorizing them into high, moderate, and low regimes. The quantile regression estimates indicate that the effect of CSR is more pronounced at upper quantiles, followed by moderate and low regimes. These findings underscore the importance of considering CSR in assessing the SGR and enterprises market value. We also confirm that our results are robust under range of different econometrics' methods. Finally, we enlighten current literature, and our research has useful policy implications for management and investors.

Introduction: Why companies pay dividends and the determinants of dividend policy are considered an unresolved dividend puzzle. To reach a consensus over the puzzle, researchers must investigate the factors affecting dividend policy by incorporating all the determinants into a single research effort.

Purpose: We examine the dividend policy determinants of Sri Lankan firms, explicitly focusing on the banking, finance, and insurance (BFI) sectors.

Methodology: This study uses the quantitative approach applying the Generalized Method of Moments (GMM) system to examine the dividend policy determinants by obtaining secondary data from 51 listed BFI organisations in Sri Lanka.

Findings: The analysis disclosed that the variables of changes in revenues, firm size, liquidity, corporate tax, business risk, and profitability have a positive relationship with dividend yield, whereas investment opportunities, leverage, change in revenues, corporate tax, and firm size impact positively on the propensity to pay dividends in BFI organisations in Sri Lanka. Our findings opine that managers in the BFI industries should prioritise changing their dividend policies by paying close attention to factors, such as dividend yield, changes in revenue, firm size, liquidity, corporate tax ratio, business risk, and profitability because the dividend policy is critical to retaining current investors and luring new ones.

Purpose: This study investigates internal/own shock in the domestic market and three external volatility spillovers from India, the UK, and the USA to the Sri Lanka stock market.

Need for the Study: The external market’s internal/own shocks and volatility spillovers influence portfolio choices in domestic stock market returns. Hence, it is required to investigate the internal shock in the domestic market and the external volatility spillovers from other countries.

Methodology: This study employs a quantitative method using ARMA(1,1)-GARCH(1,1) model. All Share Price Index (ASPI) is the proxy for the Colombo Stock Exchange (CSE) stock return. It uses daily time-series data from 1^st April 2010 to 21^st June 2023.

Findings: The findings revealed that internal/own and external shocks substantially impact the stock price volatility in CSE. Significant volatility clusters and persistence with extended memory in ASPI confirm internal/own shock in the market. Furthermore, CSE receives significant volatility shock from the USA, confirming external shock. This study’s findings highlight the importance of considering internal and external shocks in portfolio decision-making.

Practical Implications: Understanding the influence of internal shocks helps investors manage their portfolios and adapt to market volatility. Recognising significant volatility spillovers from external markets, especially the USA, informs diversification strategies. From a policy standpoint, the study emphasises the need for robust regulations and risk management measures to address shocks in domestic and global markets. This study adds value to the literature by assessing the sources of volatility shocks in the CSE, employing the ARMA-GARCH, a sophisticated econometrics model, to capture stock returns volatility, enhancing understanding of the CSE’s volatility dynamics.