Description
Chairs: Diana VASIU & Ioana SBÂRCEA
The aim of this study is to compare the organizational structures of the cooperative banking sector in Denmark, Finland, and Poland, as well as their role and importance in the banking systems of these countries. The research covered the changes and current organizational structure of the sector, the number of branches, their share in the banking sector, and the scope of their operations....
Realized volatility forecasting remains one of the most active research frontiers in financial econometrics, as volatility governs option pricing, risk-parity allocation, Value-at-Risk estimation, and macroprudential stress testing. Classical linear models, especially the Heterogeneous Autoregressive Realized Volatility (HAR-RV) model, remain notoriously difficult to beat at short horizons,...
The aim of this study is to compare the organizational structures of the cooperative banking sector in Denmark, Finland, and Poland, as well as their role and importance in the banking systems of these countries. The research covered the changes and current organizational structure of the sector, the number of branches, their share in the banking sector, and the scope of their operations....
This paper examines the dynamic interactions between green bonds and major traditional financial markets using a multivariate vector autoregressive (VAR) framework. The key questions are whether green bond returns are mainly driven by conventional fixed income and macro financial factors, and whether green bonds act only as shock receivers or also as transmitters within the global system.
The...
Behavioral finance has shaped recent years of research by shedding light on how financial decisions are influenced by investors’ cognitive and emotional biases. Our paper offers an integrative approach to recent literature, combining bibliometric and systematic perspectives to capture the dynamics of research and the emerging evolution of the field. The bibliometric component highlights an...
The integrity and informational value of financial reporting are fundamental to the proper functioning of capital markets, as they shape the extent to which firm-level signals are embedded in equity prices. This paper examines how the qualitative characteristics of financial disclosures influence the degree of stock price co-movement, proxied by return synchronicity, within the context of the...
The increasing digitalisation of financial services has changed the way banks compete, intermediate funds, and transmit monetary and financial shocks across countries. In this context, the role of FinTech in shaping the integration of banking markets has become an important research question, especially for the European Union, where financial integration remains uneven across member states....
In the context of strengthening financial governance and aligning with European standards, the integration of human rights into the budget process becomes an essential direction for increasing the efficiency and equity of public finances. The concept of human rights-based budgeting is gaining increased relevance in emerging economies, including the Republic of Moldova, where challenges persist...
This paper examines whether the predictability of WTI crude oil futures returns is a regime dependent feature of the market. Building on the theory of storage and risk premium explanations of commodity returns, we test whether a simple model using basis changes and realized volatility can deliver economically meaningful out of sample forecasts and whether its performance is concentrated in...
