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Politics and Investment
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Politics and Investment

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Financial Markets".

Deadline for manuscript submissions: closed (10 November 2023) | Viewed by 1761

Special Issue Editor

Prof. Dr. Artem Durnev

E-Mail Website
Guest Editor
Robins School of Business, University of Richmond, Richmond, VA 23173, USA
Interests: corporate finance; governance; climate finance; financial market development

Special Issue Information

Dear Colleagues,

We are soliciting manuscripts for a Special Issue on Politics and Investments in the Journal of Risk and Financial Management. The Special Issue aims to cover broad areas of politics and finance, including how different political structures and processes (e.g., elections, political announcements and ideologies) affect financial markets, corporate financial decisions (investment, investment efficiency, capital structure, CEO labor market), and asset allocation (risk and valuation). We encourage both empirical and theoretical papers that consider existing and new data-sets on politics and finance and innovative empirical methodologies. The Special Issue is open to both international and country-specific studies.

Prof. Dr. Artem Durnev
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • political uncertainty
  • elections
  • political structure
  • firm investment decisions
  • asset allocation

Published Papers (1 paper)

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Research

20 pages, 675 KiB  
Article
Does Public Corruption Affect Bank Failures? Evidence from the United States
by Serkan Karadas and Nilufer Ozdemir
J. Risk Financial Manag. 2023, 16(10), 451; https://doi.org/10.3390/jrfm16100451 - 19 Oct 2023
Viewed by 1551
Abstract
Corruption influences firm behavior and performance even in relatively transparent countries like the United States. In this paper, we examine whether corruption at the state level affected bank failures during the subprime mortgage crisis. Our measure of corruption is the number of corruption [...] Read more.
Corruption influences firm behavior and performance even in relatively transparent countries like the United States. In this paper, we examine whether corruption at the state level affected bank failures during the subprime mortgage crisis. Our measure of corruption is the number of corruption convictions of government employees (adjusted for population) based on the Public Integrity Section (PIN) reports from the Department of Justice, capturing the degree of “public corruption” in the US. After disaggregating the data based on bank size and geography, we find that corruption is associated with more bank failures for smaller banks and fewer bank failures for banks located in the South. This research marks a pioneering attempt to examine the connection between corruption and bank failures while underscoring the significance of political risk for financial institutions. Given the recent setbacks experienced by Silicon Valley Bank, Signature Bank, and First Republic Bank, this research provides valuable recommendations for policymakers. The findings suggest the need for regulators to mandate greater transparency regarding banks’ exposure to undisclosed risks, such as political risk. It also advocates for implementing internal control mechanisms to curb corrupt activities. Full article
(This article belongs to the Special Issue Politics and Investment)
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