FIIB Business Review

Sardana, Varda; Shukla, Abha

2025 FIIB Business Review

doi: 10.1177/23197145241301934

This article aims to synthesize the studies on market discipline in banking through a systematic literature review (SLR), propose a model underlining the relationship between various constructs, and identify the gaps for future research. Considering the presence of contradictory evidence on the existence, effectiveness and outcomes of market discipline, this study attempts to plug the gap in the literature through a comprehensive SLR of 412 documents, from 1980 to June 2024, using the Theory, Context, Characteristics, Methodology framework. The findings suggest that only one-fifth of the studies have a theoretical underpinning, with a handful of theories occupying centre stage. Multi-country studies dominate the literature, with substantial research being conducted in the context of conventional banks. The article also categorizes the literature into three themes and highlights the use of quantitative techniques as the prevalent methodology employed in studies. The article proposes a model to illustrate the relation between the factors, measures and impact of market discipline in banking, and lays down research gaps for further exploration. The model illustrated by the study shall serve as a ready reckoner for researchers and practitioners alike, and the research gaps highlighted shall be instrumental in advancing the current state of literature.

Yadav, Miklesh Prasad; Al-Qudah, Anas Ali; Sandhu, Kamaljeet; Gupta, Neha

2025 FIIB Business Review

doi: 10.1177/23197145241300899

This study investigates the interconnectedness among FinTech, digital assets and e-commerce stocks, offering profound insights into the complex financial ecosystem. Utilizing the advanced Time-Varying Parameter Vector Autoregression and Baruník–Krehlik (2018) models, the research uncovers the relationships and interconnected dynamics amongst these innovative asset classes. The results highlight Mastercard’s pivotal role as both a significant receiver and transmitter of shocks within the market, contrasting with Tencent’s demonstrated resilience and diversification capabilities across various frequencies. These fundamental discoveries aid investors, portfolio managers and policy analysts in navigating the financial markets more strategically, fostering informed investment decisions and robust risk mitigation strategies in volatile environments.

Anand, Amitabh; Sinitsyna, Elena; Shantakumar, Varsha P.; Lašáková, Anna; Oyner, Olga Konstantinovna

2025 FIIB Business Review

doi: 10.1177/23197145241305685

In organizational and management studies, ethical issues associated with internal communication (IC) have been understudied and are marked by a lack of systematic study examining the function of ethics within the organizational framework. This research seeks to address the shortcomings by conducting a comprehensive literature review of the ethical stance of IC. We first address the evolution of ethics within the framework of ICA and establish that managers play a pivotal role in assuring the effectiveness of IC through ethical practices. Second, we elucidate the essential themes of ethical information communication at three requisite levels by detailing the antecedents and consequences of these levels: individual, organizational and management. Lastly, we present a guiding framework that delineates the role of ethics in IC and proposes pathways for future exploration.

Desai, Rajesh; Patel, Siddharth

2025 FIIB Business Review

doi: 10.1177/23197145241306838

Financial institutions actively consider environmental performance as an important metric for investment evaluation and allocation of financial resources, which is prevalently known as ‘green finance’. The concept of green finance has received global recognition, as illustrated by the growing publications, yet there is a persistent need to synthesize the extant literature in this area to understand how green finance has developed as a distinctive and crucial body of knowledge. The present research aims to systematically review the scholarly articles on the green finance domain published from 1997 to 2024. Using the Scopus database and the SPAR-4-SLR framework, the current research integrates the bibliometric analysis along with a systematic literature review approach. The study discovers seven thematic areas that associate the green finance domain with distinctive knowledge clusters, such as (a) green investments, (b) green economic growth, (c) environmental performance, (d) green innovation, (e) corporate social responsibility, (f) climate risk management and (g) financial development. Such dispersed and multiple themes corroborate the multidimensional outlook of green finance and its universal applicability. Further, the study also describes theme-wise directions of future research to enhance the existing body of knowledge. Finally, the current research enumerates critical implications for academicians, practitioners and policymakers.