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This study aims to examine the impact of chief executive officers’ (CEOs’) personal characteristics on firms’ risk taking and the moderating role of family ownership on this relationship.

This study used 2,647 firm-year observations of non-financial firms listed on Pakistan Stock Exchange over the period 2013–2021. To test the hypotheses, the authors used ordinary least squares regression and, to resolve the possible endogeneity problem, the authors used system generalized method of moments technique.

Drawing insights first from upper echelons theory, the authors report that CEOs with business, economics, finance and/or management educational background and female CEOs reduce firms’ risk-taking behaviour. Further, using insights from social and organizational identity theoretical perspectives, the results indicate that due to strong family affiliation and organizational identity, family owners exhibit risk aversion behaviour and moderate this relationship.

This study provides novel evidence of risk averse behaviour of CEOs with business, economics, finance and/or management educational background and female CEOs along with moderating impact of family ownership on this relationship in an emerging economy. Overall, the results extend empirical support for upper echelons and social identity theories in an emerging market context.

This study aims to examine the nexus of corporate governance with firms' financial risk-taking behavior under the corporate social responsibility (CSR) disclosures in the context of non-financial listed firms of an emerging economy.

This study investigates the relationship between corporate governance as evaluated by an index and several financial risks, including idiosyncratic, default and systematic risks. The connection of corporate governance with financial risks is also studied while considering the moderation of CSR disclosures. The data are collected from 2014 to 2018 of 73 top 100-index listed non-financial firms of Pakistan Stock Exchange (PSX). Panel regression fixed effect and 2-step generalized method of moments techniques are applied to confirm the hypothesis along with the diagnostic tests to confirm that all outcomes of models must be authentic and reliable.

The study’s findings confirm that enhancing the overall corporate governance measures resulted in an augment in the firm’s risk due to weak control and regulations prevailing in emerging economies. Moreover, CSR disclosures enhance stakeholder information, lessen information asymmetry about management policies and mitigate the risk associated with operational uncertainties.

This study has a practical implementation to policymakers that effective monitoring and controlling measures facilitate the corporate management for minimizing the financial risks. Further, the study’s findings shed light that implementing corporate governance measures is not enough to mitigate financial risks until supervisory measures in the form of CSR disclosures are not taken to analyse corporate governance effectiveness.

This paper enhances the key findings in the literature by examining the role of corporate governance measures with respect to firms’ financial risks considering the moderating role of CSR disclosures. Furthermore, this research adds to the body of knowledge regarding the implementation of monitoring measures that assist in the mitigation of firms’ financial risks hence firm value.

The characteristics of businesses change with the change in ownership structure of the business. This study examines the change in ownership structure of the firm after the departure of lone founders, and its influence on dividend payout decisions of the firm.

The authors employed 4,302 firm-year observations of non-financial firms listed on Pakistan Stock Exchange over the period 2007–2021. To test the hypotheses, the authors employed ordinary least squares regression, and additionally, generalized method of moments estimation and fixed effect analysis were applied to check for the robustness of results.

Using the lens of agency theory and social identity theory, the authors report that the presence of lone founder (family owners) is negatively (positively) associated with dividend payout, however, transition of lone-founder ownership to family-owned and family-managed firm leads to more dividend payout, whereas its transition to family-owned and non-family-managed firm results in lesser dividend payments.

This study provides novel insight into the strategic behavior of lone founders and extend the limited family business heterogeneity literature by examining the effects of ownership transition and its influence on firm's dividend payout decisions.

This study aims to endeavour to decode artificial intelligence (AI)-based tokens' complex dynamics and predictability using a comprehensive multivariate framework that integrates technical and macroeconomic indicators.

In this study we used advance machine learning techniques, such as gradient boosting regression (GBR), random forest (RF) and notably long short-term memory (LSTM) networks, this research provides a nuanced understanding of the factors driving the performance of AI tokens. The study’s comparative analysis highlights the superior predictive capabilities of LSTM models, as evidenced by their performance across various AI digital tokens such as AGIX-singularity-NET, Cortex and numeraire NMR.

This study finding shows that through an intricate exploration of feature importance and the impact of speculative behaviour, the research elucidates the long-term patterns and resilience of AI-based tokens against economic shifts. The SHapley Additive exPlanations (SHAP) analysis results show that technical and some macroeconomic factors play a dominant role in price production. It also examines the potential of these models for strategic investment and hedging, underscoring their relevance in an increasingly digital economy.

According to our knowledge, the absence of AI research frameworks for forecasting and modelling current aria-leading AI tokens is apparent. Due to a lack of study on understanding the relationship between the AI token market and other factors, forecasting is outstandingly demanding. This study provides a robust predictive framework to accurately identify the changing trends of AI tokens within a multivariate context and fill the gaps in existing research. We can investigate detailed predictive analytics with the help of modern AI algorithms and correct model interpretation to elaborate on the behaviour patterns of developing decentralised digital AI-based token prices.

This study aims to investigate the association of FinTech innovation (FinTechINN) and firm performance (FP) by considering the role of knowledge assets (KA) as a causal mechanism underlying the FinTechINN – FP association.

In this study, the authors consider panel data of 1,049 Chinese A-listed firm and construct a structural model for corporate FinTech innovation, knowledge assets and firm performance while considering endogeneity issues in analyses over the period of 2014–2022. The modified value added intellectual capital (VAIC) and research and development (R&D) expenses are used as a proxy measure for knowledge assets, considering governance and corporate performance measures.

According to the findings of this study FinTech innovation (FinTechINN) has a positive significant effect on firm performance. Particularly; the findings disclose that FinTech innovations has a link with knowledge assets, FinTech innovations indirectly affects firm performance, and the association between FinTech innovation and firm performance is partially mediated by knowledge assets (MVAIC and R&D expenses).

Rooted in the dynamic capability and resource-based view, this study pioneers an empirical exploration of the association of FinTech innovation with firm performance. Moreover, it introduces the novel dimension of knowledge assets (on firm-level), acting as a mediating factor with in this relationship.

This study examines whether real earnings management (REM) choices are connected with the ownership structure of politically connected businesses (PCBs). The authors also discuss the moderating role of audit quality (AQ) and family control (FC) on the relationship between PCBs and REM.

The authors' study sample comprises firms registered on the Pakistan Stock Exchange (PSE). The sample examines the financial data of the firms that remained listed for the last eight years, i.e. from 2011 to 2018, excluding nonfinance companies and firms with incomplete data. The authors test the hypothesis using feasible generalized least squares (FGLS) regression methods.

The authors find that PCBs show a high level of involvement in income-decreasing REM compared to nonPCBs due to lower litigation risk in REM. However, the authors' results also show that two monitoring mechanisms, AQ and FC, curb the opportunistic behavior of PCBs and reduce the intensity of REM in PCBs.

The findings of the study are beneficial in decision-making for both internal and external stakeholders, such as creditors, shareholders and competitors. In countries like Pakistan, which fall in the category of emerging economies, PCBs show involvement in income-decreasing REM to change the accurate picture of financial information to attain personal goals, and investors in such countries have a low level of knowledge about earnings management strategies; thus, this study offers detailed knowledge and information to investors and shareholders about political connections and REM. This plays a crucial role for regulators in stiffening the rules and regulations to further assist in more secure financial reporting.

This study contributes to the literature by providing a nuanced understanding of the interplay between political connections, REM, FC and AQ in the business context. Second, family-controlled businesses often exhibit distinct characteristics and governance structures compared to nonfamily-controlled firms. Exploring the moderating role of FC in the following relationship could provide valuable insights into how family dynamics influence the financial reporting practices of PCBs. Third, AQ is a critical factor in ensuring financial reporting transparency. However, the interaction between AQ, political connections, and REM remains relatively unexplored. This study explains how audit oversight affects the earnings management behavior of PCBs.

This study aims to investigate the mediating role of corporate social responsibility (CSR) in the link between board independence, board diversity and dividend payouts underpinning the agency theory perspective. As boards are ultimately responsible for decision-making, it includes CSR, dividend payouts and other strategic decisions.

Board independence and board diversity (female director, female independent director) are used as explanatory variables, CSR scores as a mediator and dividend payout explained variables. The relevant data were collected from 159 listed firms of the Pakistan Stock Exchange (PSX) from 2013 to 2019, consisting of 1,113 year-firm observations. For empirical estimation, the study used the Tobit regression analysis and Sobel test to check the significance of the mediation to confirm the hypothesis.

The results confirm that independence and diversity on the board are positively related to dividend payouts. Further, CSR partially mediates the link between independence and diversity on board-dividend payouts, which confirms the argument that firms with involvement in CSR practices are also associated with dividend payouts.

To the best of the authors’ knowledge, this study is novel to address whether CSR mediates the link of the board’s independence and diversity and dividend payouts in Pakistan’s setting. The results of this study have restricted generalizability due to the specific nature of the sample characteristics; future researchers can extend the research scope.

Theoretically practically, the results imply that CSR spending also enhances the distribution to firms' shareholders, thus becoming attractive to investors. This study enriches the literature on board attributes-dividend policy nexus, which strengthens through CSR practices and is relevant to practice in line with sustainable development in an emerging context.

CSR practices are an understudied but significant factor that links stakeholders' beliefs about firms' decision-making strategies, enhancing dividend announcements. In doing so, this study's findings contribute to the literature, regulators, shareholders and investor at various levels.

This study examined how economic freedom and its related components, such as open markets, regulatory efficiency, rule of law and the size of government, affect bank risk behavior, focusing on the Japanese context.

The study employs a two-step GMM framework on the annual data of Japanese banks ranging from 2005 to 2020 to empirically test the hypotheses. Furthermore, we also use the ordinary least square method to ensure the robustness of our mainline findings.

The finding suggests that economic freedom increases the banks' risk-taking, thus making them fragile. The results also highlight that out of the four main subcomponents of economic freedom, regulatory efficiency and government size increase bank risk-taking, while the rule of law and open markets decrease banks' risk-taking. Additionally, we examine how the banks' specific characteristics affect the results by creating a subsample based on capitalization and liquidity ratios. Overall, the results are consistent with the baseline findings. Moreover, the results are robust to alternative proxy measures of risk.

The study's findings have several implications for regulators and policymakers. The results suggest that regulators and policymakers should reconsider their strategies for economic freedom to ensure that they promote stability in the banking system and reduce banks' risk-taking inclinations.

Although previous studies have examined the impact of economic freedom on bank stability and risk-taking, this study is the first to do so in the Japanese context, contributing to the literature by providing new insights and empirical evidence.

The purpose of this study is to investigate the relationship between socioeconomic factors and entrepreneurial orientation (EO) across genders. The study also highlights the impact of cognitive and motivational factors on the EO in Saudi Arabia.

This is a quantitative analysis based on the Adult Population Survey of 2016 conducted by the Global Entrepreneurship Monitor among a sample of 4,053 in the Kingdom of Saudi Arabia.

The results showed significant differences in most EO dimensions between genders. It was found that EO is positively related to gender, with more women intending to start a venture than men in the Kingdom of Saudi Arabia. Self-efficacy, motivation and social welfare motivational factors for EO are positively associated with the gender of the respondents.

This paper illustrates the urgency to establish programs that support self-efficacy, motivation and social welfare to promote entrepreneurship among women in the Kingdom.

The study highlights the impact of cognitive and motivational factors on EO among females in Saudi Arabia.

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.