MAKE MOST OF THE KNOWLEDGE NETWORK, JOIN ACADEMIC RESEARCH FOUNDATION

Search peer-reviewed journals and articles

JRFSJournal of Risk and Financial Studies

Latest Articles :- Vol: (6) (2) (Year:2025)

ARTIFICIAL INTELLIGENCE AND RETAIL INDUSTRY: A COMPREHENSIVE REVIEW AND FUTURE RESEARCH DIRECTIONS

BY:   Rekha Gulia, Nisha Gupta, Ajay Kumar Singh and Ravinder Rena
Journal of Risk and Financial Studies, Year:2025, Vol.6 (2), PP.107-134
Received: 16 August 2025   |   Revised: 14 September 2025   |   Accepted: 19 September 2025   |   Publication: 30 December 2025
DOI : https://DOI:10.47509/JRFS.2025.v06i02.01

With the rise of Big Data, advanced algorithms, simulation modelling, machine learning, social media analysis, and enhanced computational capabilities, Artificial Intelligence (AI) has gained widespread popularity. The present study offers a comprehensive bibliometric analysis of the multifaceted relationship between artificial intelligence (AI) and the retail industry. The diverse contributions of AI across various facets of retail operations are illustrated with the help of thematic analysis, co-occurrence of keywords and tree map. The initial search resulted in a total of 1141 articles from Scopus database covering the period from 2000 to March 2024. From these, 266 articles were selected for the final study based on their relevance. The data has been anaylsed by using software VOSviewer and Biblioshiny. Thematic exploration unveils critical themes such as AI adoption impacts, ethical considerations, customer behavior analysis, inventory optimization, decision support systems, interdisciplinary collaboration, transparency, explainability, sustainability, and the emergent role of blockchain in retail operations. The analysis identifies five distinct clusters, including AI applications in retail behavior, innovative machine learning applications, predictive intelligence hubs, strategic decision-making for profitable sales, and innovative retail data processing, highlighting the diverse areas where AI augments traditional retail practices. Interdisciplinary collaborations between AI and other fields, focus on transparency, application of AI for promoting sustainability, and blockchain technology would ensure customers trust. Notwithstanding the inherent limitations of scope and methodology, the study provides insightful information about the ever-evolving field of artificial intelligence in the retail industry, establishing the framework for further research and strategic developments in this field.

Keywords: Bibliometric analysis, Artificial Intelligence, Retail Industry, Consumer Interaction, Blockchain Technology, Strategic Planning.
JEL Code: L81, O33, M31, L86.

Rekha Gulia, Nisha Gupta, Ajay Kumar Singh & Ravinder Rena (2025). Artificial Intelligence and Retain Industry: A Comprehensive Review and Future Research Directions. Journal of Risk and Financial Studies. 6(2), 107- 134.

HOW EGYPTIAN MANUFACTURING SMEs CAN PROTECT WORKING CAPITAL DURING INFLATION?

BY:   Ahmed Moustafa Eliwa and Mona A. El Bannan
Journal of Risk and Financial Studies, Year:2025, Vol.6 (2), PP.135-164
Received: 28 August 2025   |   Revised: 29 September 2025   |   Accepted: 10 October 2025   |   Publication: 30 December 2025
DOI : https://DOI:10.47509/JRFS.2025.v06i02.02

This study examines how Egyptian manufacturing small and medium-sized enterprises (SMEs) endured and adapted to the severe inflationary period of 2022–2024. Using an integrated mixed-methods approach that combines qualitative interviews with multiple case studies, the research identifies, analyzes, and validates practical strategies that enhance SME financial resilience during periods of acute macroeconomic instability. The study extends theoretical understanding of SME resilience under macroeconomic crises by integrating dynamic capabilities, working capital management, and inflation adaptation into a unified framework tailored to emerging markets. It contributes localized, evidence-based insights to the business administration literature, demonstrating how firm-level agility can mitigate systemic inflationary pressures. From a managerial perspective, the findings provide a tested strategic roadmap for SME owners and financial managers to strengthen liquidity management, optimize fixed-cost allocation, and sustain profitability throughout inflationary cycles. For policymakers and financial institutions, the study highlights the need for structural reforms to improve SME access to foreign currency, affordable credit, and energy-efficiency investments. The research concludes that inflation, while inevitable, can be effectively managed through coordinated micro-level strategies that safeguard liquidity, stabilize working capital, and protect profitability. By transforming inflation from an uncontrollable external shock into a navigable economic reality, Egyptian manufacturing SMEs can sustain productivity, preserve employment, and contribute to national economic stability.

Keywords: Inflation, Small and Medium-Sized Enterprises (SMEs), Working Capital, Egypt.

Ahmed Moustafa Eliwa & Mona A. el Bannan (2025). How Egyptian Manufacturing SMEs Can Protect Working Capital during Inflation?. Journal of Risk and Financial Studies. 6(2), 135-164.

EFFECT OF FINANCIAL TECHNOLOGY ON PERFORMANCE OF LISTED BANKS IN NIGERIA

BY:   Comfort Ibhalukholor Iserameiya and Joshua A. Awotade
Journal of Risk and Financial Studies, Year:2025, Vol.6 (2), PP.165-178
Received: 12 October 2025   |   Revised: 14 November 2025   |   Accepted: 20 November 2025   |   Publication: 30 December 2025
DOI : https://DOI:10.47509/JRFS.2025.v06i02.03

The sweeping revolution in the financial technology space has significantly altered the hitherto traditional financial architecture, bringing in new diversified products and services, with efficient and innovative financial service delivery Against this premise, this study empirically investigates the effect of financial technology (i.e. fintech) on performance of listed banks in Nigeria for the period 2014-2024. Data for the ten biggest banks by total asset size in the Nigerian banking industry were utilized. Four major variables that capture innovations in fintech as the explanatory variables, internet banking, ATM, mobile banking, as welll as POS, were used, and Return on asset (ROA) is used to capture the dependent variable. The panel least squares estimation technique was utilized in the analysis. The findings indicate that financial technology has a positive and significant impact on bank performance in Nigeria. Specifically, internet banking services, mobile banking and ATM have positive and significant impact on ROA of banks in Nigeria. The evidence further show that POS service is positively related to ROA but not significant. Based on the findings, it is suggested that increased digital technology be employed in financial services in order to enhance bank financial performance in Nigeria.

Keywords: Financial technology, Digital revolution, Financial performance, innovations, Panel Least Squares.

Comfort Ibhalukholor Iserameiya & Joshua A. Awotade (2025). Effect of Financial, Technology on Performance of Listed Banks in Nigeria. Journal of Risk and Financial Studies. 6(2), 165-178.

FOREIGN EXCHANGE EXPOSURE AND HEDGING PRACTICES IN INDIAN SOFTWARE COMPANIES

BY:   Raghavendra R.H. and Shankara M.
Journal of Risk and Financial Studies, Year:2025, Vol.6 (2), PP.179-190
Received: 28 October 2025   |   Revised: 29 November 2025   |   Accepted: 10 December 2025   |   Publication: 30 December 2025
DOI : https://DOI:10.47509/JRFS.2025.v06i02.04

The present study explores the strategies employed by Indian software companies to manage foreign exchange (Forex) risk through financial derivatives. Given the global nature of the software industry, Indian firms primarily depend on exports, making them highly susceptible to fluctuations in exchange rates. While Forex risk cannot be completely eliminated, it can be effectively managed using derivative instruments such as forward contracts, options, and swaps. The extent to which a company engages in risk management depends on the size of its foreign currency exposure and the volatility of exchange rates. Effective Forex risk management is crucial for maintaining financial stability, sustaining profitability, and ensuring long-term business growth. This paper aims to bridge the existing research gap by examining how Indian software firms assess and mitigate their Forex exposure through derivative instruments. By documenting industry practices, the study provides valuable insights into the role of financial derivatives in managing currency risk, thereby contributing to the broader discourse on risk management in export-driven industries.

Keywords: Forex, risk, derivatives, hedging, exposure, NASSCOM, Exchange rate volatility.

Raghavendra R.H., & Shankara M. (2025). Foreign Exchange Exposure and Hedging Practices in Indian Software Companies. Journal of Risk and Financial Studies. 6(2), 179-190.

Our Related Journals