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Risks
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Financial Risk Management in SMEs 2022
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Financial Risk Management in SMEs 2022

A special issue of Risks (ISSN 2227-9091).

Deadline for manuscript submissions: closed (31 December 2022) | Viewed by 17172

Special Issue Editor

Dr. Grzegorz Zimon

E-Mail Website
Guest Editor
Faculty of Management, Rzeszow University of Technology, 35-959 Rzeszow, Poland
Interests: working capital management; accounting; costs management
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

The management of financial risk in enterprises is a necessity, especially today, during the COVID-19 pandemic and armed conflicts that destroy the economy around the world. It manifests itself in the implementation of appropriate risk management principles in the company, or a selected policy or strategy for managing a company. Today, managers of entities classified as SMEs should select and adapt such financial risk management tools in an enterprise to avoid the risk of losing financial liquidity, reduce credit risk, the risk of lowering financial results, the risk of reducing revenues, and increase the possibility for further development of the enterprise.

Considering the above, this Special Issue looks for outstanding research and development results, case studies, and review papers in topics that include but are not limited to the following:

  • Financial risk management;
  • Risk models;
  • Risk measures;
  • Risk analysis;
  • Risk management in multi-entity organizations;
  • The COVID-19 pandemic and financial risk in SMEs;
  • War in Europe and the financial risk of SME functioning.

Dr. Grzegorz Zimon
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. Risks 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 1800 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

  • risk management
  • financial risk
  • financial liquidity
  • credit risks
  • SMEs
  • the COVID-19 pandemic

Published Papers (3 papers)

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Research

17 pages, 446 KiB  
Article
Firm Risk and Tax Avoidance in Vietnam: Do Good Board Characteristics Interfere Effectively?
by Trung Kien Tran, Minh Tuan Truong, Kim Tu Bui, Phung Duc Duong, Minh Vuong Huynh and Tran Thai Ha Nguyen
Risks 2023, 11(2), 39; https://0-doi-org.brum.beds.ac.uk/10.3390/risks11020039 - 09 Feb 2023
Cited by 4 | Viewed by 2746
Abstract
This paper investigates the role of board characteristics in the relationship between tax avoidance behavior and corporate risk tolerance to elucidate the importance of corporate governance mechanisms. The applied methodology is System-GMM for 334 listed corporations in Vietnam from 2008 to 2020 to [...] Read more.
This paper investigates the role of board characteristics in the relationship between tax avoidance behavior and corporate risk tolerance to elucidate the importance of corporate governance mechanisms. The applied methodology is System-GMM for 334 listed corporations in Vietnam from 2008 to 2020 to avoid endogenous problems in our models. The main findings are that higher (lower) corporate risk-taking is related to higher (lower) corporate tax avoidance if the size of the board of directors and the supervisory board are larger (lower) than six and three members, respectively. Furthermore, if the board independence ratio is lower than 48.63%, an increase in corporate risk-taking leads to increased tax avoidance. Our results support the argument that the influence of corporate risk-taking on tax avoidance behavior is governed by governance structure. Therefore, the practical implications will be towards building the optimal governance mechanism for enterprises in Vietnam. Full article
(This article belongs to the Special Issue Financial Risk Management in SMEs 2022)
20 pages, 468 KiB  
Article
Corporate Governance, Firm Performance and Financial Leverage across Developed and Emerging Economies
by Ploypailin Kijkasiwat, Anwar Hussain and Amna Mumtaz
Risks 2022, 10(10), 185; https://0-doi-org.brum.beds.ac.uk/10.3390/risks10100185 - 20 Sep 2022
Cited by 12 | Viewed by 7607
Abstract
This research inquiry analyzed the association between corporate governance and firm performance through the mediating role of financial leverage based on panel data of 2568 firms during the period from 2002 to 2017. The study uses a two-step dynamic panel as well as [...] Read more.
This research inquiry analyzed the association between corporate governance and firm performance through the mediating role of financial leverage based on panel data of 2568 firms during the period from 2002 to 2017. The study uses a two-step dynamic panel as well as a generalized method of moments (GMM) to estimate these relationships. The findings demonstrated financial leverage mediates the relationship between corporate governance and firm performance in the context of developed economies, and also in emerging economies. Additionally, firm performance is negatively associated with corporate governance through excessive leverage. The study suggests it is the responsibility of the board to use low financial leverage to enhance firm performance. In emerging countries, firms with a large-sized board use low leverage, whereas in developed countries, firms with a small-sized board use low leverage to enhance corporate performance. Full article
(This article belongs to the Special Issue Financial Risk Management in SMEs 2022)
25 pages, 452 KiB  
Article
The Effect of Corporate Governance Structure on Fraud and Money Laundering
by Maryam Mousavi, Grzegorz Zimon, Mahdi Salehi and Nina Stępnicka
Risks 2022, 10(9), 176; https://0-doi-org.brum.beds.ac.uk/10.3390/risks10090176 - 06 Sep 2022
Cited by 19 | Viewed by 5993
Abstract
This paper aims to assess the effect of corporate governance mechanisms, including board members’ and audit committee members’ characteristics, particularly their independence, expertise in terms of finance and industry and efforts on the level of fraud and money laundering (ML) in financial statements [...] Read more.
This paper aims to assess the effect of corporate governance mechanisms, including board members’ and audit committee members’ characteristics, particularly their independence, expertise in terms of finance and industry and efforts on the level of fraud and money laundering (ML) in financial statements of the listed firm on the Tehran Stock Exchange. The procedure of the study is descriptive correlation based on published information from firms listed on the Tehran Stock Exchange from 2014 to 2020, using a sample of 154 firms with 1071 observations. The method used for hypothesis testing is linear regression using panel data. The Benish model is used measure the level of fraud in financial statements, and for ML, the auditors’ opinion are used. The results show that board characteristics, including independence, financial expertise, industry expertise and board effort, as well as audit committee features, such as independence, financial expertise, industry expertise and audit committee effort, have a significant and negative impact on the fraudulent financial reporting and ML. Moreover, since this paper was carried out in an emerging financial market, particularly in Iran, to figure out the effect of corporate governance structures on financial statement fraud and ML, it can provide helpful information for investors and policymakers in this regard. Full article
(This article belongs to the Special Issue Financial Risk Management in SMEs 2022)
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