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Topic Review
Financial Socialization Theory and Financial Information Literacy
Financial literacy entails possessing and applying financial management skills for efficient and effective financial resource management for individuals’ well-being. While financial literacy is concerned with the possession of adequate financial management skills, financial information literacy entails seeking and possessing adequate knowledge of the existence of financial products and services through diverse information channels.
  • 30.1K
  • 03 Nov 2025
Topic Review
Corporate Social Responsibility in the Banking Sector
The concept of corporate social responsibility (CSR) extends the responsibility of companies beyond the interest of their owners to other stakeholder groups (including employees, customers, regulators, and community), highlighting the necessity to internalize the impact of business activities on the natural environment and the society. CSR is inevitably becoming an increasingly important part of almost every business. This is particularly true for the banking industry, which suffered substantial losses in reputation and public trust in the aftermath of the global financial crisis. Not surprisingly therefore, banks around the world have visibly intensified their CSR efforts.
  • 24.9K
  • 17 Nov 2021
Topic Review Peer Reviewed
Revenue Sharing in Professional Sports Leagues
This entry provides a review of economic models of professional sports leagues with and without revenue sharing. These include models that assume profit-maximizing and win-maximizing (sportsmen) club owners. Both approaches predict that revenue sharing will reduce the demand for player talent, depress player salaries, and transfer revenue from large-market to small-market clubs, but they differ on league parity effects. Empirical work has been sparse due to financial data limitations and has not yielded definitive results on the parity issue. Despite the growing awareness of sports economics in the sports industry, the lack of consensus from theoretical models has resulted in sports leagues searching for an optimal revenue sharing policy. The difficulty in providing consistent policy prescriptions in models that incorporate revenue sharing, salary caps, and other league policies has made economic modeling of sports leagues very difficult and complex. While revenue sharing remains an interesting theoretical modeling issue, it has not bridged the gap to real-world league policies.
  • 15.5K
  • 30 Jul 2024
Topic Review
Prosumption as Basic Market Force in Modern Economy
The term “prosumption” is a portmanteau of production and consumption. It refers to a process where a consumer takes over some of the activities previously performed by a producer, usually by directly involving themselves in the design and production of various goods or services. Prosumption is the basic market force in the modern economy.
  • 9.4K
  • 07 Dec 2022
Topic Review
Computer-Assisted Audit Tools and Techniques (CAATT)
Computer-Assisted Audit Tools and Techniques (CAATTs) have been generally referred to as technology that assists in audit task completion. There is minimal level of use of CAATTs in developing nations regardless of their importance to audit productivity and cost reduction, and this holds particularly true in the public sector entities’ internal audit departments. 
  • 7.7K
  • 17 Jul 2023
Topic Review
Impulse Buying Behavior in Fast Fashion Physical Stores
The health crisis caused by COVID-19 has affected consumption and payment patterns worldwide. Consumers have had to change their habits and deal with new sanitation guidelines and have often struggled with lengthy infrastructure closures. These factors significantly influenced both the choice of payment methods and purchase decisions made by consumers. Still, consumption patterns during the pandemic as a new social situation have not yet been thoroughly investigated. 
  • 7.4K
  • 22 Apr 2022
Topic Review
History of the Euro
The euro came into existence on 1 January 1999, although it had been a goal of the European Union (EU) and its predecessors since the 1960s. After tough negotiations, particularly due to opposition from the United Kingdom, the Maastricht Treaty entered into force in 1993 with the goal of creating an economic and monetary union by 1999 for all EU states except the UK and Denmark (even though Denmark has a fixed exchange rate policy with the euro). In 1999 the currency was born virtually and in 2002 notes and coins began to circulate. It rapidly took over from the former national currencies and slowly expanded behind the rest of the EU. In 2009 the Lisbon Treaty finalised its political authority, the Eurogroup, alongside the European Central Bank.
  • 7.0K
  • 29 Nov 2022
Topic Review
Emirate of Ras Al Khaimah
Ras Al Khaimah (RAK) (Arabic: رَأْس ٱلْخَيْمَة; IPA: [raʔs lˈxajma]), also spelled as Ras al Khaimah or Ras al-Khaimah, is one of the seven emirates that make up the United Arab Emirates (UAE). The city of Ras Al Khaimah, sometimes simply abbreviated to RAK City, is the capital of the emirate and home to most of the emirate's residents. It is linked to the medieval trading port of Julfar.[lower-alpha 1] Its name in English means "top of the tent". The emirate borders Oman's exclave of Musandam, and occupies part of the same peninsula. It covers an area of 2,486 km2 (960 sq mi) and has 64 km (40 mi) of beach coastline. As of 2015, the emirate had a population of about 345,000, of which about 31% were Emirati citizens. RAK city has two main areas - the Old Town and Nakheel - on either side of a creek that is home to mangroves and is framed by the North-Western Hajar Mountains. The emirate also consists of several villages and new gated residential developments, such as Al Hamra Village and Mina Al Arab. The emirate is served by Ras Al Khaimah International Airport. Its geography consists of a northern part (where Ras Al Khaimah City and most towns are situated) and a large southerly inland exclave (near the Dubai exclave of Hatta), and a few small islands in the Persian Gulf. Ras Al Khaimah has the most fertile soil in the country, due to a larger share of rainfall and underground water streams from the Hajar.
  • 5.7K
  • 10 Oct 2022
Topic Review
Financial Assessment of Renewable Energy Projects
Financial assessment of renewable energy projects is to help decision-makers invest in renewable energy sources (RES) technologies, it is essential to have reliable indicators capable of measuring a project’s total performance. Despite the global increase in renewable energy sources (RES) investments associated with economic and population growth, few studies have presented a comprehensive evaluation mechanism for RES projects, mainly due to the multiplicity of variables capable of influencing the viability of these endeavors. Therefore, building models that allow an efficient and holistic measurement is a difficult task.
  • 4.4K
  • 16 Feb 2022
Topic Review
Corporate Social Responsibility Reporting
Corporate Social Responsibility (CSR) Reporting is an essential mechanism for ensuring the transparency and accountability of companies towards sustainability performance. To further promote that sustainable development agenda, CSR-related regulations and policies have emerged worldwide.
  • 4.4K
  • 22 Oct 2021
Topic Review
Sustainability Performance & Sustainable Banking
In the light of Agenda 2030 awareness of sustainability is steadily growing all over the world. Devastating phenomena like pandemics (Sustainable Development Goal 3 (SDGs—Agenda 2030)), poverty (Sustainable Development Goal 1 (SDGs—Agenda 2030)) as well as climate change (Sustainable Development Goal 13 (SDGs—Agenda 2030)) threaten humanity, calling for more sustainable solutions. Although economic growth (Sustainable Development Goal 8 (SDGs—Agenda 2030)) is one of the principal goals for a sustainable future, little research has been devoted to the interface of corporate social responsibility (CSR) and sustainability and their contribution to the financial sector, in view of sustainable banking. Even fewer are the studies concerning sustainable banking in Greece. This paper attempts a comparative overview of sustainability integration into businesses, focusing on the banking industry. The current theoretical analysis initially provides an extended review of the CSR and sustainability concepts, which is followed by a comprehensive analysis of non-financial disclosures (NFDs) and their business value, providing some evidence from Greece. 
  • 4.3K
  • 15 Jun 2021
Topic Review Peer Reviewed
Financial Interdependence: A Social Perspective
Financial interdependence refers to the practice of sharing money as an expression of mutuality. Forms of financial interdependence are often rooted in cultural norms and values and may be carried out as a commitment to the well-being of the family through financial transfers, practiced as informal savings groups, or even established as legally constructed agreements. Financial interdependence can result in either beneficial or harmful outcomes, depending upon the nature of the relationships and the available resources. As a social and cultural concept, it has been generally neglected in the discourse on financial independence, yet it has important implications for society as a basis for collective prosperity.
  • 4.1K
  • 28 Aug 2023
Topic Review
ESG Integration into the Business Model
The integration of environmental, social, and governance (ESG) into the business model means considering ESG issues in the existing business model, which is defined by four factors: value proposition, value creation, value delivery, and value capture.
  • 4.1K
  • 14 Mar 2022
Topic Review
Usury
Usury (/ˈjuːʒəri/) is the practice of making unethical or immoral monetary loans that unfairly enrich the lender. The term may be used in a moral sense—condemning, taking advantage of others' misfortunes—or in a legal sense, where an interest rate is charged in excess of the maximum rate that is allowed by law. A loan may be considered usurious because of excessive or abusive interest rates or other factors defined by a nation's laws. Someone who practices usury can be called a usurer, but in contemporary English may be called a loan shark. In many historical societies including ancient Christian, Jewish, and many modern Islamic societies, usury meant the charging of interest of any kind and was considered wrong, or was made illegal. During the Sutra period in India (7th to 2nd centuries BC) there were laws prohibiting the highest castes from practicing usury. Similar condemnations are found in religious texts from Buddhism, Judaism (ribbit in Hebrew), Christianity, and Islam (riba in Arabic). At times, many nations from ancient Greece to ancient Rome have outlawed loans with any interest. Though the Roman Empire eventually allowed loans with carefully restricted interest rates, the Catholic Church in medieval Europe, as well as the Reformed Churches, regarded the charging of interest at any rate as sinful (as well as charging a fee for the use of money, such as at a bureau de change). Religious prohibitions on usury are predicated upon the belief that charging interest on a loan is a sin.
  • 4.0K
  • 22 Nov 2022
Topic Review
Capital Structure
Capital structure is a firm’s mix of debt and equity financing. It is one of the most controversial areas of finance. Many of the results obtained in capital structure theory over the last 50-60 years have been very influential and led their authors to great international recognition. Among the researchers who contributed significantly to capital structure theory, note Nobel Prize Award winners Franco Modigliani, Merton Miller, Joseph Stiglitz, and most recently Jean Tirole. More research and more results are expected in this area in near future.
  • 3.6K
  • 09 Jun 2022
Topic Review
Virtual Currency
Virtual currency, or virtual money, is a type of unregulated, digital money, which is issued and usually controlled by its developers and used and accepted among the members of a specific virtual community. The U.S. Commodity Futures Trading Commission has warned investors against pump and dump schemes that use virtual currencies. The Financial Crimes Enforcement Network (FinCEN), a bureau of the US Treasury, defined virtual currency in its guidance published in 2013. In 2014, the European Banking Authority defined virtual currency as "a digital representation of value that is neither issued by a central bank or a public authority, nor necessarily attached to a fiat currency, but is accepted by natural or legal persons as a means of payment and can be transferred, stored or traded electronically". By contrast, a digital currency that is issued by a central bank is defined as "central bank digital currency".
  • 3.3K
  • 20 Oct 2022
Topic Review
Prediction of Customer Churn in Retail E-Commerce Business
Customer Relationship Management (CRM) is defined as a process in which the business manages its interactions with customers using data integration from various sources and data analysis.
  • 3.3K
  • 18 Jan 2022
Topic Review
Bank Diversification and Firm Investment Decisions
Firms are financially constrained as well as there being a positive relationship between cash flow and investment among listed firms. Additionally, bank diversification significantly reduces the investment-cash flow sensitivity of firms, suggesting that bank diversification mitigates the financial constraints to borrowing firms. Moreover, the multi-diversification of a bank compared to single-diversification will have greater impact on mitigating the firms’ financial constraints on investment. Thus, bank diversification strategies are proposed in a bank-based financial system, leading to the easing of the borrowing firms’ financial constraints to investments.
  • 3.3K
  • 14 Oct 2022
Topic Review
Digital Taxation in Countries
There is no concise definition for the digital economy as the description is used to refer to various economic activities. Digitalization has intensified globalization and economic interactivity between countries both developed and developing, increasing the complexity and lack of transparency in economic activities.
  • 3.3K
  • 28 Sep 2022
Topic Review
ESG in the Banking Sector
Environmental, Social and Governance (ESG) is currently one of the main focus areas for policy makers worldwide.
  • 3.2K
  • 06 Dec 2021
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