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        <title>Financial Internet Quarterly Feed</title>
        <link>https://sciendo.com/journal/FIQF</link>
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            <title>Financial Internet Quarterly Feed</title>
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            <link>https://sciendo.com/journal/FIQF</link>
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        <copyright>All rights reserved 2026, University of Information Technology and Management in Rzeszow</copyright>
        <item>
            <title><![CDATA[Bridging the information gap: what are the impacts of EPCs on Prague’s residential market selling prices?]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0026</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0026</guid>
            <pubDate>Tue, 23 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

It is assumed that energy performance certificates (EPC) can promote energy efficiency, increase property values, and improve market liquidity by providing trustworthy energy performance information. This article will provide a comprehensive study of the impact of EPCs on the residential selling prices in Prague, the capital of the Czech Republic. For the analysis, the original dataset was extracted from the publicly accessible sreality.cz portal. The hedonic regression model was applied to evaluate how the EPC influences the selling price of apartments in Prague. The regression analysis results are entirely in line with the analyzed current literature. EPC ratings have been proven to significantly affect the selling price in Prague and several other locations. In the most affluent locations of Prague, i.e., typically historical locations, the EPC ratings have not proved to be a statistically significant price factor because these locations suffer from excess demand and limited supply of properties.
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Uncertainty as a determinant of dividend decisions of public companies during the COVID-19 pandemic. The case of companies listed on the Warsaw Stock Exchange]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0023</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0023</guid>
            <pubDate>Tue, 23 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

The aim of the article is to analyze the impact of an unpredictable individual event such as the COVID-19 pandemic on dividend decisions of companies listed on the Warsaw Stock Exchange. Due to the fact that the vast majority of companies do not provide detailed justification for dividend decisions, the analysis was based on a panel probit model with random effects of dividend propensity in the years 1998-2019, which was used to develop forecasts of dividend payments in 2020. The difference between the forecast and the actual dividend decision made by companies in 2020 could be attributed to the uncertainty caused by the pandemic.
The analysis covered 152 domestic companies listed on the Warsaw Stock Exchange that paid dividends in 2019 and/or in 2020. The calculations showed that, being uncertain about the future macroeconomic situation and, consequently, about their own, some companies stopped systematic annual dividend payments or significantly reduced their level. The companies made such decisions despite the fact that the forecasts developed on the basis of the probit model, proposed in the paper, indicated that they should pay dividends in 2020, as indicated by their good economic and financial situation.
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Determinants of thermal comfort: analysis of public buildings in a post-transition context]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0027</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0027</guid>
            <pubDate>Tue, 23 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

Due to an ongoing energy crisis and fluctuating energy prices, the prerequisites for maintaining optimal indoor environmental quality (IEQ), a critical determinant of productivity, cognitive performance, and overall well-being, have been significantly disrupted. This study focuses on examining determinants of thermal comfort, a subjective evaluation of the thermal environment and a key component of IEQ. Through a survey of employees and users of public buildings in Bosnia and Herzegovina, the research employs a four-stage regression analysis to identify the main predictors of thermal comfort. Although 71.33% of respondents report satisfaction with the heating system, only 43.13% find the heating to be adequate, with the optimal perceived temperature averaging 21.66°C. The results show that key factors influencing thermal comfort include thermal sensation, thermal memory, gender, and respondent type (employee versus user). These seminal results could offer valuable productivity and financial implications for energy savings, especially for budgetary policymakers aiming to reduce energy consumption as well as for public sector management and public institutions seeking to improve well-being and productivity.
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Managing state budget available cash resources: case study of Poland]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0028</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0028</guid>
            <pubDate>Tue, 23 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

The aim of the paper is to review how free funds (available cash resources) are managed in the Polish state budget, to review the solutions used at the national and local levels in other countries and assess the quality of management in Polish conditions. Analysis of the budget available cash resources covered the last twelve years and included both periods of economic growth as well as crisis years. Methodology of the research included financial analysis of state budget revenues, expenditure, debt income and debt repayment expenses, as well as public debt statistics and ear-marked funds data. The results obtained during the study provide for the formulation of a negative opinion regarding the management of available funds in the state budget. Based on the research results, the authors prepared a number of recommendations, the implementation of which will increase the effectiveness of public funds management.
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Effects of eurozone and schengen area accession on real estate prices]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0029</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0029</guid>
            <pubDate>Tue, 23 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

The real estate sector plays an important role in economic cycles and macroeconomic stability, as shown by various studies that establish a link between real estate prices and economic activity. While the traditional determinants of real estate prices have been extensively studied, the impact of institutional factors such as Eurozone membership and Schengen accession has not yet been sufficiently researched. Monetary integration promotes economic growth by boosting trade, investment and financial integration, while lower interest rates improve access to credit, which drives demand for real estate. Similarly, Schengen accession increases labor mobility, cross-border economic activity and the acquisition of real estate, further fueling demand for housing. Therefore, this study aims to examine the role that these institutional changes have on the real estate markets in the EU member states. A panel data analysis for the period from 2000 to 2023 using a fixed effects model confirms that joining the Eurozone has a statistically significant impact on house prices, primarily due to lower interest rates and economic growth. Schengen membership also contributes to rising real estate prices as it increases labor mobility and tourism-driven demand. The study findings suggest that policy makers should address housing affordability issues through targeted measures, including fiscal and regulatory interventions, rather than relying solely on monetary policy.
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Retirement attitudes in Poland and Southeast Europe]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0030</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0030</guid>
            <pubDate>Tue, 23 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

The paper aims to present the retirement attitudes of individuals in Poland and Southeastern European countries. In our study, we have shown that many factors influence retirement decisions. These decisions are influenced by the state-guaranteed pension level and the individual's perception of this security, and individual retirement savings. Socio-demographic characteristics such as age and gender also play a crucial role in shaping these decisions. Firstly, our study shows that age has a statistically significant effect on stated attitudes towards the state pension. For each additional year of life, the odds of respondents stating that they will cover their expenses in old age by drawing a state pension increase by 4,4% (Poland) and 1% (Southeastern Europe). Secondly, respondents identified the state as the primary source of retirement security. This trend is observed in both Poland and other European countries. The data used in the article comes from national surveys conducted using the updated 2018 OECD/INFE Toolkit for measuring financial literacy and financial inclusion. The analyses in this article cover Poland and seven Southeastern European countries that participated in the OECD/INFE survey (Bulgaria, Croatia, Georgia, North Macedonia, Moldova, Montenegro, and Romania).
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Construction of a framework for enablers of financial well-being among urban households in India: an ISM approach]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0024</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0024</guid>
            <pubDate>Tue, 23 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

The purpose of this study is to identify the enablers of financial well-being among urban households. Once these enablers are identified, the authors aim to develop a framework to explore their positioning and prepare a hierarchical structure of the enablers of financial well-being in the overall financial status of urban households in India. The present study explores what the enablers of urban households’ financial well-being in India are and what the hierarchical framework is for those enablers. Data were collected from 59 people who were heads of families making financial decisions in different parts of India. The authors identified 11 unique enablers from the literature. Interpretive Structural Modelling (ISM) is used to identify the hierarchical structure of the enablers of financial well-being. This study generated six levels of enablers, and the lowest level of the model is education level (E1), which is a key enabler of financial well-being, and the topmost level is (E10), which is satisfaction in life. The model suggests that education level enables people to achieve life satisfaction by improving their financial well-being. This study fills the gap by identifying key enablers using the literature and arranging them into a hierarchical model using the ISM technique. This helps in extending the present literature as well as improving financial well-being.
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Assessment of the impact of innovation and investment activities on the restoration of economic potential of ukrainian enterprises in the context of industry 5.0 and the circular economy]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0025</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0025</guid>
            <pubDate>Tue, 23 Dec 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

The purpose of this article is to assess the extent to which the activation of innovation and investment activities contributes to the restoration of the economic potential of enterprises in Ukraine under the conditions of transition to Industry 5.0 standards and the implementation of circular economy principles. The focus is placed on Ukrainian enterprises as the object of the study, considering sectoral differences and the specific challenges caused by the ongoing war. The task is to present a methodological approach that will allow us to present how to assess the significance of the influence of certain areas in the activation of innovative and investment activities of an enterprise on the restoration of economic potential. The principles of Industry 5.0 and the circular economy are also taken into account. As a result, the method of pairwise comparison was chosen and, by involving experts, to determine the most significant factors of the activation of innovative and investment activities of an enterprise that affect the restoration of economic potential, taking into account the standards of Industry 5.0 and the circular economy. The results may have practical significance in further use within the activities of enterprises of Ukraine and beyond. This article examines the impact of activating innovation and investment activities on the restoration of economic potential of Ukrainian enterprises amid the transition to Industry 5.0 and the adoption of circular economy principles.
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[From obstacles to new opportunities: Exploring profitability in the banking industry amid sustainability and the green transition]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0017</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0017</guid>
            <pubDate>Thu, 18 Sep 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

This study examines the relationship between sustainability and the financial performance of European banks, focusing on their Return on Average Assets (ROAA) and Return on Average Equity (ROAE). Using panel regression analysis on data from 2018 to 2022, the findings reveal a negative correlation between sustainability factors and short-term profitability, suggesting that sustainability-related investments may initially lead to higher costs and lower returns. However, the results also indicate a potential association between sustainability engagement and long- term financial resilience, though the exact causal mechanisms remain subject to further research. The study contributes to the ongoing debate on the financial implications of sustainability in the banking sector and highlights the need for further econometric analysis to assess the long-term effects of sustainable investments.
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Airline performance and the leasing ratio in the context of business models]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0015</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0015</guid>
            <pubDate>Thu, 18 Sep 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

The paper analyzes how aircraft acquisition structures - leased versus owned - affect airline performance. It considers the controlling role of business models, specifically low-cost carriers (LCCs) and full-service providers (FSPs). Using financial and operational data from 142 airlines globally, the study applies correlation and regression analysis to assess how leasing ratios influence indicators such as revenue, market capitalization, fleet value, load factor and profitability. While leasing offers flexibility and supports fast expansion, it does not guarantee operational efficiency. The study emphasizes the need to control for the business model when analyzing the financial effects of leasing. Model-specific strategies significantly influence an airline‘s performance outcomes. LCCs typically exhibit higher leasing ratios due to their asset-light strategies and initial capital limitations. Future research should address whether airlines rely on leasing primarily as a tool for operational optimization or as a response to financial necessity.
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Exploring the link between Financial Globalization, Financial Development, Human Development and Economic Growth in China]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0022</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0022</guid>
            <pubDate>Thu, 18 Sep 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

The main objective of this study is to examine the relationship between globalization, financial development, human development and economic growth. The financial dimension of globalization, which is a multi-dimensional concept, is focused on, and the impact of financial globalization is investigated. The analysis was conducted in China. The KOF Globalization Index was used to represent financial globalization, the share of domestic loans given to the private sector in GDP was used to represent financial development, the Human Development Index was used to represent human development, and the GDP per capita value was used to represent economic growth. Because the stationarity levels of the variables were different from each other and there was a variable with I (2), the Toda-Yamamoto causality test was applied as a method. According to the results of the analysis covering the period 1990-2022, there is a causal relationship between the variables. There is bidirectional causality between financial globalization and economic growth. The causal relationship between human development and economic growth is also bi-directional. The causality relationship between financial development and economic growth is one-way, and the direction of causality is from economic growth to financial development. Economic growth should be encouraged to enhance financial development in China. Moreover, policies aimed at improving financial globalization and human development can be used to increase economic growth.
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Relationship between sick leave and wages by voivodeship and industry. The case of Poland]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0021</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0021</guid>
            <pubDate>Thu, 18 Sep 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

The aim of the study was to confirm whether employees insured with the Social Insurance Institution (ZUS) are increasingly taking advantage of the right to sick leave and to prove that there is a relationship between sick leave and wages in individual voivodeships and sections of the national economy. The research was conducted based on data provided by ZUS and Statistics Poland. The analyses in the part concerning changes in sick leave usages were conducted in the period 2006-2023, while the part concerning the relationship between wages and sick leave in 2023. The analyses indicate a growing trend in sick leave, especially during the COVID-19 pandemic. A relationship was also demonstrated between wages and the number of sickness absences and the number of days spent on it.
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Do mergers enhance financial performance? Empirical evidence from the Czech Republic]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0016</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0016</guid>
            <pubDate>Thu, 18 Sep 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

This study investigates whether the post-merger performance of companies in the Czech Republic exceeds their pre-merger performance. Employing the Czech-specific IN05 model and internationally recognized composite financial performance indicators (Altman Z-score, Tafler model, and Kralicek Quick Test), the research utilizes a comprehensive dataset of 1,077 companies involved in mergers. The analysis spans a decade, covering five years before and after the mergers conducted in 2016. Results indicate that while the financial condition of merging companies shows stagnation, successor companies demonstrate statistically significant improvements in key financial indicators, especially during the period from 2017 to 2021. This highlights the positive impact of mergers on financial performance, even amid external disruptions such as the COVID-19 pandemic. These findings contribute to understanding M&amp;A dynamics in medium-sized, open economies within the EU, offering valuable insights for both academic research and practical applications in corporate strategy.
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Does climate policy uncertainty move with stock markets? Evidence from advanced economies with the best climate change performance]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0019</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0019</guid>
            <pubDate>Thu, 18 Sep 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

This study aims to understand how climate policy uncertainty affects investor behavior and whether it moves with stock markets in advanced economies. Accordingly, we examine data for January 2000-2023 for the stock market indices of Sweden, the United Kingdom, Germany, Norway, the Netherlands, and Finland, which have a ‘good’ CCP rating according to the MSCI classification and the climate policy uncertainty index. Furthermore, we apply two main methodologies: Wavelet Coherence Analysis and the Breitung and Candelon Frequency Causality Test. WCA shows the time-based co-movements between CPU and stock market indices and their effects on each other. We also consider the causality test to examine causality at various frequencies. The WCA results reveal a relationship between the CPU index and all markets except the Norwegian market. As a result of the causality, we conclude that there is a strong causality between the CPU index and the Finnish and Swedish stock markets in the short run, a strong causality between the CPU index and the Dutch market in the long run, and a weak causality between the CPU index and the German stock market in the short, medium and long run. Investors can develop strategies to mitigate risks and hedge volatility by monitoring exogenous factors such as CPU. Strategies such as quick-action stop-loss orders are recommended, especially for short-term CPU- affected markets such as the Swedish and Finnish stock markets.
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[The financial situation of pensioners in Poland in the perspective of achieving Sustainable Development Goal number 1: No poverty]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0020</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0020</guid>
            <pubDate>Thu, 18 Sep 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

The paper will discuss the problem of pensioner poverty in Poland, its elimination, as well as the question of the impact of social policy measures on the Sustainable Development Goals (SDGs) called ‘no poverty’. The purpose of the article is to assess the financial situation of pensioners in Poland, taking into account the impact of supplementary pension benefits (understood in the study as the thirteenth and fourteenth pensions) on the level of poverty among pensioners in the context of achieving the Sustainable Development Goals in Poland. The topic of pensioner poverty and its consequences is one of the aspects often overlooked in the discussion of sustainable development, where ‘poverty’ is simplified exclusively to a social issue, while it is an important aspect of economic development. To achieve the purpose of the study, the authors used statistical data describing the problem of poverty and changes in this area in the period 2010-2024 (where possible, a wider range of data has been provided to provide a more complete picture of the phenomenon), based on data from the Statistics Poland and the Social Insurance Institution (ZUS). The analyses carried out indicate a short-term positive impact on the proportion of poor pensioners in Poland, but at the same time little effectiveness of the benefits known as 131 and 141 pensions.
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[The global shift in monetary sovereignty: A systematic literature review of de-dollarization using the TCCM framework]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0018</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0018</guid>
            <pubDate>Thu, 18 Sep 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

This study aims to systematically review the literature on de-dollarization in light of its increasing significance. The review has been carried out using the Theory, Context, Characteristics, Methodology (TCCM) framework on 52 studies retrieved from the Scopus and Web of Science database. The findings suggest the prevalence of two theories and three models applied in literature. Multi-country studies dominate the literature, with the USA taking the lead in terms of country- specific research. Further, research on de-dollarization can be categorised into five themes. Methodologically, quantitative studies, focusing on the usage of secondary data are mostly used, with lesser focus on theoretical, case and review studies. By synthesizing the existing literature, this paper undertakes a comprehensive exploration of de-dollarization, scrutinizing its various facets and implications on the international economic forum. It advances the discourse on de- dollarization by presenting novel insights and emphasizing the need for further scholarly investigation into achieving equitable and stable global financial systems beyond dollar dominance.
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Adaptive market hypothesis: insights from BRIC-T countries’ stock markets]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0010</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0010</guid>
            <pubDate>Thu, 26 Jun 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

Comparing the Efficient Market Hypothesis and Behavioral Finance, the Adaptive Markets Hypothesis (AMH), which identifies the extremes of these two hypotheses and adapts them to each other, argues that calendar anomalies can coexist, but also focuses on how investor behavior reacts to changing market conditions. This study aims to investigate whether the stock markets of BRIC-T countries are consistent with the AMH, including crisis periods, using daily data for the period 01.01.2000-31.12.2023. To this end, daily index return series of each country were constructed and analyzed with the help of Wild-bootstrap Variance ratio test, BDS test and Ljung and Box Q Portmanteau tests. According to the Wild-bootstrap Variance ratio test, both EMH and AMH are not valid in the equity markets of BRIC-T countries; according to the BDS test results, AMH is valid and according to the Ljung and Box Q Portmanteau test results, AMH is valid. Therefore, it is concluded that AMH is more successful than EMH in explaining the equity markets of BRIC-T countries.
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Gender and spoken language use in consumer finance]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0009</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0009</guid>
            <pubDate>Thu, 26 Jun 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

Finance is still stereotypically perceived as a male domain, and social group divisions have linguistic consequences. This study examines whether language use in consumer finance exhibits gendered characteristics by identifying linguistic patterns used by non-expert women and men in this domain. To this end, we analyzed a corpus of spoken language collected through focus group interviews with 36 consumers of both genders, representing a full socio-demographic cross-section. The linguistic analysis was conducted using the Quanteda package in R, as well as tools from generative grammar, textology, ethnolinguistics, and cognitive linguistics. Additionally, respondents’ statements were categorized into speech acts: assertions, directives, commissives, expressives, and constatives. Our findings indicate that while gender differences in language use are subtle, they are nonetheless distinct. Women’s language tends to be more colloquial, descriptive, relational, figurative, and experience-oriented, often carrying greater emotional load. In contrast, men’s language is more professional (or stylized as such), argumentative, factual, and informational, emphasizing a sense of expertise, agency, and self-efficacy. These findings contribute to a deeper understanding of gendered communication patterns in financial discourse.
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Symbiotic harmony: Exploring the interplay between investment strategies and insurance in the Czech Republic]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0008</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0008</guid>
            <pubDate>Thu, 26 Jun 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

This study investigates the complex relationship between insurance and investment strategies in the Czech Republic using a PICOT-PRISMA approach that focuses on high-impact Social Sciences Citation Index (SSCI) articles from Q1-Q3 journals. By examining both mandatory and optional insurance types, we highlight their impact on societal welfare and individual autonomy. The study also uses VECM econometric analysis to reveal distinct patterns across different economic agents: households have a stable long-term equilibrium, with increased insurance coverage correlated with higher investment levels, implying complementarity. Non-financial companies, on the other hand, show a substitution effect, with increased insurance coverage resulting in lower investment. At the aggregate economic level, we see a stronger positive relationship, with investment serving as the primary driver and insurance playing a more passive role. These findings contribute to the literature by providing empirical evidence on the nuanced interaction of insurance and investment in a small open economy, highlighting the impact of specific economic, regulatory, and sociocultural factors, as well as divergent incentives and risk profiles among households and corporate entities.
]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Pakistan and Malaysia Bilateral Trade Agreement (BTA): A case of the Pakistan Stock Exchange (PSX) reaction]]></title>
            <link>https://sciendo.com/article/10.2478/fiqf-2025-0011</link>
            <guid>https://sciendo.com/article/10.2478/fiqf-2025-0011</guid>
            <pubDate>Thu, 26 Jun 2025 00:00:00 GMT</pubDate>
            <description><![CDATA[

The goal of this investigation is to establish a connection between the attributes of listed companies and the effects of the Pakistan-Malaysia Bilateral Trade Agreement (BTA) on Pakistan’s stock markets. For that purpose, this research is to look at how the Pakistan Stock Exchange (PSX) was affected by the Bilateral Trade Agreement between Pakistan and Malaysia. The abnormal returns have been computed before and after the announcement using an event study methodology. The results demonstrate that the announcement of the Pakistan-Malaysia (BTA) elicited an immediate response from chosen sectors of Pakistan, with mixed responses, negative as well as positive. Given that the textile industry is one of Pakistan’s top export industries, its response was encouraging. The study concludes that the PSX was vulnerable to this event as well as that this paper has important ramifications for investors and trade policy makers.
]]></description>
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