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I seek to identify whether cash flow management can affect the performance and risk of the Greek listed companies.

This study examines the relationship of cash flow management with performance and risk, using a sample of 80 non-financial companies listed in the Athens Exchange. The study covers the period 2018–2022, and panel data analysis is applied. Both financial performance and stock return are taken into consideration, while risk concerns the volatility of the companies’ share prices. The various explanatory variables used include the net cash flow, free cash flow, cash conversion cycle days, cash flow from operating activities, cash flow from investing activities, cash flow from financing activities, inventory days, customer days and supplier days.

The empirical results provide evidence of a positive relationship between financial performance and net cash flow and free cash flow. In addition, operating cash flow is positively related to financial performance. The opposite is the case for investing and financing cash flow. Finally, some evidence of a negative relationship between financial performance and inventory and customer days is provided too. On the other hand, stock return and risk are not related to the cash flow management variables at all.

To the best of my knowledge, this is one of the few studies to examine the relationship of cash flow management with performance and risk, using data from the Greek stock market. The results can form an effective selection tool for investors seeking Greek companies with the highest financial performance potential, which may reward them with higher dividends.

The paper aims to investigate the dynamic relationship between working capital management and firm profitability for a sample of firms from eight European Union (EU) countries for the period 2006–2015.

The panel regression model is used in the study. Firm profitability is measured using the return on assets (ROA) ratio, whilst cash conversation cycle, financial leverage, size, tangibility and cash flow ratio are used as independent variables. The novelty of this study is the use of cash flow ratio to develop the analysis firms by dividing them as healthy and nonhealthy.

The paper reveals that working capital management affects firm profitability, and a positive relationship exists between them. The paper shows differences of working capital management and firm profitability across countries. The striking result of this study is that an inverted U-shape relationship exists between working capital management and firm profitability. Whereas the findings suggest that firms should be as close as possible to the optimal length of cash cycle to increase profitability, and managers should give a priority to working capital optimization.

The authors consider results of this study relevant to both researchers and business policymakers in the field of working capital management policies.

This study examines the importance of exchange rate and credit growth fluctuations when designing monetary policy in Thailand. To this end, the authors construct a small open economy New Keynesian dynamic stochastic general equilibrium (DSGE) model. The model encompasses several essential characteristics, including incomplete financial markets, incomplete exchange rate pass-through, deviations from the law of one price and a banking sector. The authors consider generalized Taylor rules, in which policymakers adjust policy rates in response to output, inflation, credit growth and exchange rate fluctuations. The marginal likelihoods are then employed to investigate whether the central bank responds to fluctuations in the exchange rate and credit growth.

This study constructs a small open economy DSGE model and then estimates the model using Bayesian methods.

The authors demonstrate that the monetary authority does target exchange rates, whereas there is no evidence in favor of incorporating credit growth into the policy rules. These findings survive various robustness checks. Furthermore, the authors demonstrate that domestic shocks contribute significantly to domestic business cycles. Although the terms of trade shock plays a minor role in business cycles, it explains the most significant proportion of exchange rate fluctuations, followed by the country risk premium shock.

This study is the first attempt at exploring the relevance of exchange rate and credit growth fluctuations when designing monetary policy in Thailand.

This study investigates determinant factors (influence of the third party (ITP), credit policy (CP) and follow-up process (FP)) of micro, small and medium enterprises' (MSMEs) accounting processes (APs) and strategic debtors' management.

The study employed a sequential mixed-method approach, combining quantitative and qualitative methods for comprehensive data analysis. Phase I involved purposively selecting and interviewing 10 MSME owners or accountants to gain insights into debtors' management. In Phase II, a quantitative approach was used for collecting survey data from 72 MSME owners or accountants. Structural equation modeling-partial least squares (SEM-PLS) are the statistical tools that validated the study's proposed hypotheses.

The findings indicate that determinant factors (ITP, CP and FP) positively affect MSMEs' AP, significantly influencing strategic debtors' management. As a result, sole proprietors can use this study's findings to create value through systematic management of their debtors, guaranteeing sustainable firm growth and profitability.

The sample has restricted to MSMEs in Oman, where the findings may not be generalized to other companies. Overall, the findings suggest that it requires considering the proposed determinant factor of MSMEs' AP to manage their debtors or accounts receivable (AR) to be more profitable.

MSMEs play an essential role in the growth of any country's economy. However, the dearth of comprehensive research on influential factors of MSMEs' debtors’ management studies justifies the significance of the current study.

Know your customer (KYC), accounting standards, issuance, clearing, and trade settlement became the major barrier to implement accounting, accountability and assurance process in supply chain finance (SCF). Blockchain technology features have the potential to solve accounting problems. This research focuses on exploring how blockchain technology provides solutions to overcome the barriers of accounting process in SCF. The benefits, opportunities, costs and risks related to blockchain adoption are also explored.

Multi-case study and qualitative methods are used with a framework based on blockchain role to overcome the accounting process barriers. Ten blockchain projects in SCF and 29 interviews of participants as a unit of analysis are considered.

The findings indicate that blockchain technology offers solutions to solve accounting, accountability and assurance problems in SCF. Validity, verification, smart contracts, automation and enduring data on trade transactions potentially solve those barriers. However, it is also necessary to consider costs such as implementation, technology, education and integration costs. Then there are possible risks such as regulatory compliance, operational, code development and scalability risk. This finding reflects the current status of blockchain technology roles in SCF.

This study unveils blockchain's SCF accounting potential, emphasizing multi-case method limitations and future research prospects. Diverse contexts challenge findings' applicability, warranting cross-industry studies for deeper insights. Addressing selection bias and integrating quantitative measures can enhance understanding of blockchain's accounting impact.

Accounting professionals can get an idea of the future direction and impact of blockchain technology on accounting, accountability and assurance processes.

This study provides initial findings on the potential, costs and risks of blockchain that is beneficial for parties involved in SCF, especially for banks and insurance underwriters. In addition, the findings also provide direction for the contribution of blockchain technology to accounting theory in the future.

This paper aims to offer the first known synthesis of peer-reviewed literature on trade-based money laundering (TBML). Given the topic is in its nascent stage yet gaining prominence across scholarship and practice, this foundation is pertinent for future TBML research.

A systematic literature review was undertaken with a formulaic search string. Both qualitative (thematic) and quantitative (meta) analysis methods were used to illustrate the findings.

The systematic literature review, using qualitative and quantitative synthesis, led to a thematic categorization of extant TBML literature into four categories: TBML risk assessment, TBML detection, the role of professionals and understanding of TBML. Due to the limited number of studies, insights that can be drawn from the extant literature on the best way to combat TBML are also limited.

As the first systematic literature review on TBML, this study identified that the existing TBML literature has focused on increasing the understanding of the phenomenon in terms of its definition and mechanisms, detection, linkage with other crimes, such as organized crime and terrorism financing, and risk assessment frameworks. The originality of these findings lies in identifying areas future researchers might explore to broaden the academic literature.

This paper undertakes an extensive and systematic review of the literature on earnings management (EM) over the past three decades (1992–2022). Furthermore, the study identifies emerging research themes and proposes future avenues for further investigation in the realm of EM.

For this study, a comprehensive collection of 2,775 articles on EM published between 1992 and 2022 was extracted from the Scopus database. The author employed various tools, including Microsoft Excel, R studio, Gephi and visualization of similarities viewer, to conduct bibliometric, content, thematic and cluster analyses. Additionally, the study examined the literature across three distinct periods: prior to the enactment of the Sarbanes-Oxley Act (1992–2001), subsequent to the implementation of the Sarbanes-Oxley Act (2002–2012), and after the adoption of International Financial Reporting Standards (2013–2022) to draw more inferences and insights on EM research.

The study identifies three major themes, namely the operationalization of EM constructs, the trade-off between EM tools (accrual EM, real EM and classification shifting) and the role of corporate governance in mitigating EM in emerging markets. Existing literature in these areas presents mixed and inconclusive findings, suggesting the need for further theoretical development. Further, the study findings observe a shift in research focus over time: initially, understanding manipulation techniques, then evaluating regulatory measures, and more recently, investigating the impact of global accounting standards. Several emerging research themes (technology advancements, cross-cultural and cross-national studies, sustainability, behavioral aspects and non-financial indicators of EM) have been identified. This study subsequent analysis reveals an evolving EM landscape, with researchers from disciplines like data science, computer science and engineering applying their analytical expertise to detect EM anomalies. Furthermore, this study offers significant insights into sophisticated EM techniques such as neural networks, machine learning techniques and hidden Markov models, among others, as well as relevant theories including dynamic capabilities theory, learning curve theory, psychological contract theory and normative institutional theory. These techniques and theories demonstrate the need for further advancement in the field of EM. Lastly, the findings shed light on prominent EM journals, authors and countries.

This study conducts quantitative bibliometric and thematic analyses of the existing literature on EM while identifying areas that require further development to advance EM research.

The purpose of this study is designed to achieve the learning process in producing studies involving economic issues and scenarios in business management in Malaysia. In addition, this study will provide exposure to the integration of managerial skills by using both microeconomics and macroeconomics concepts and theories to aid decision-making in a business environment.

The research method comprised qualitative methodology of literature review, case study and quantitative methodology of multiple linear regression (MLR). In this case, seven microeconomics and macroeconomics factors which are believed to significantly affect house price index (HPI) are taken into consideration which includes gross domestic product, consumer price index (CPI), government tax and subsidy on housing, overnight policy rate, unemployment rate (UNEMP), the median income (INC) and cost of production index.

This research has resulted in three significant factors affecting HPI from MLR, which include CPI, UNEMP and INC where the increase of these factors will cause a high increment of HPI. The other four factors are not significant.

Malaysia has been facing the stagnancy in house market these recent years due to issues such as massive oversupply, impacting Malaysia’s economy specifically focusing on domestic direct investment. To avoid oversupply issues, the vitality of future house demand and pricing forecast should be comprehended by involved bodies for more effective planning for the house development industry. To make a better and bigger impact, this research is intended to analyse the microeconomic and macroeconomic factors affecting the HPI to better understand the significance of each of these factors to the changes of HPI to resolve these economic issues.

The purpose of this paper is to test the existence of stylized facts, such as the volatility clustering, heavy tails seen on financial series, long-term dependence and multifractality on the returns of four real estate indexes using different types of indexes: conventional and Islamic by comparing pre and during COVID-19 pandemic.

Firstly, the authors examined the characteristics of the indexes. Secondly, the authors estimated the parameters of the stable distribution. Then, the long memory is detected via the estimation of the Hurst exponents. Afterwards, the authors determine the graphs of the multifractal detrended fluctuation analysis (MF-DFA). Finally, the authors apply the WTMM method.

The results suggest that the real estate indexes are far from being efficient and that the lowest level of multifractality was observed for Islamic indexes.

The inefficiency behavior of real estate indexes gives us an idea about the prediction of the behavior of future returns in these markets on the basis of past informations. Similarly, market participants would do well to reassess their investment and risk management framework to mitigate new and somewhat higher levels of risk of their exposures during the turbulent period.

To the authors’ knowledge, this is the first real estate market study employing STL decomposition before applying the MF-DFA in the context of the COVID-19 crisis. Likewise, the study is the first investigation that focuses on these four indexes.

The concept of working capital management (WCM) has been a fundamental financial accounting term that has evolved in financial theory for centuries. Given that the construction industry (CI) is financially dynamic, there is an imperative need to understand its WCM practices. The call for the industry players to adhere to efficient financial management practices as a result of a huge financing gap requires consented effort. This study aims to explore the trend of practices of WCM in the CI and elicit a broader polemic dialogue about this crucial theme.

The source of information for the study was secondary mainly from referenced journals and international conference papers published on WCM relating to the CI. A three-step sample selection strategy was adopted to identify the range and scope of publications on WCM in the CI based on the systematic literature review method.

The CI cannot boost of enough empirical WCM research to gain in-depth understanding of its practical trend. The developing economies are failing to produce insightful peer-reviewed papers on WCM to assist in bridging the infrastructural financing gap through apposite strategies. Gaining appropriate knowledge of the short-term financial operations through a conceptualization of WCM practices in the CI may lead to better strategies formulated for smooth operations.

This is a pioneering paper in developing economies that have taken stock of WCM knowledge of the practical trend in the CI. Future research prospects in which WCM matters can use it as a reference point.