ISSN (print) – 2521-1250 ISSN (online) – 2521-1242
Publisher: Academic Research and Publishing UG
Founder: Sumy State University and Academic Research and Publishing UG
Open access journal
Scientific Peer-Reviewed Journal – Financial Markets, Institutions and Risks (FMIR) was registered by the Ministry of Justice of Ukraine (Certificate No. KB 22528-12428P from November 24, 2016).
The language of publication is English. Issued 4 times a year (March, June, September, December) since 2017
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Editorial team / Contact information
The Journal of “Financial Markets, Institutions and Risks” is an international, peer-reviewed and open access journal. The Journal promotes the development of regional and world-wide cooperation between academics and professional financial communities, the international dissemination of theoretical and empirical research, as well as the best international and local practices of financial sector development, economic and legal transformations of financial and market infrastructure. The subjects of the Journal’s scope are banking, insurance, stock exchanges, financial services, finance and accounting, taxation, investment etc. Financial transformations are observed for companies, financial intermediaries, global societies, countries, regional and local communities, households.
The Journal publishes the fundamental and applied research results, conceptual and empirical articles, analytical thematic studies and critical reviews.
Before submitting the manuscript, authors have to follow the principles of the Publication Ethics Policy and Malpractice Statement of the journal and consider the Instructions for Author. It means that articles must be original and not be published previously in other journals. The authors represent only own ideas and unique research results, do not submit their papers to several journals at once, and avoid possible conflicts of interest.
The Journal “Financial Markets, Institutions and Risks” was awarded the status of professional in category B on the basis of Order of the Ministry of Education and Science of Ukraine #1643 dated December 28, 2019 in the specialties Economics (051), Accounting and Taxation (071), Finance, Banking and Insurance (072), Management (073), Entrepreneurship, Trade and Exchange Activities (076), Marketing (075), Public Administration (281), International Economic Relations (292).
Subject area: Social Science.
Subject area classification: Business, Management and Accounting.
Subject Category: General Business, Management and Accounting, Business and International Management, Strategy and Management.
Subject area classification: Economics, Econometrics and Finance.
Subject Category: General Economics, Econometrics and Finance, Economics and Econometrics, Finance.
Subject Area classification – Decision Sciences.
Subject Category – General Decision Sciences, Information Systems and Management, Statistics, Probability and Uncertainty.
Subject Area classification – Social Sciences & Humanities.
Subject Category – Public Administration, Political Science and International Relations.
When the article passes the double-blind peer review process, it will be accepted for publication. Each article is tested for plagiarism using iThenticate and StrikePlagiarism software before it is accepted for publication.
According to the policy of our journal, all authors should be listed in the list of authors in the Cover letter form that is submitted with the manuscript. Duplicate submission or publication, redundant publication, citation manipulation, data fabrication are unacceptable (please see Research misconduct policies).
The target audience of the journal includes researchers, scholars, lecturers, students, and practitioners.
Each article is assigned an international digital identifier DOI (Digital Object Identifier).
The editorial policy of the journal is implemented within the activity of the ARMG Publishing Center of Sumy State University.
The Academic Council of Sumy State University gives recommendations at the Editor-in-Chief’s request to publish the journal.
The acceptance rate of submitted papers is about 25-30%.
In this section, the authors will be able to find the detailed information that is necessary before sending the article for possible publication in the “Financial Markets, Institutions and Risks” journal.
Before submitting the manuscript, we strongly recommend the authors to:
Before submitting the manuscript, we strongly recommend the authors to study the article submission guidelines and comply with all requirements.
“Financial Markets, Institutions and Risks” accept the following type of manuscript: research paper/theoretical paper/review paper.
Research papers are usually original research and provide detailed studies such as a hypothesis (if there was any), literature review, methodology, findings, implications, conclusion, and recommendations.
Theoretical papers present the current knowledge including substantive theoretical findings to a particular topic. Theoretical papers consist of abstract, introduction, theoretical basis, results, discussion and conclusion.
Review papers summarize research on a particular topic without presenting new empirical results. Review articles provide critical and constructive analysis of existing published literature in a field.
Articles should be from 20 000 characters in length. All submissions should be formatted in the following way: typewritten in 11 Times New Roman, one-spaced, no page numbers, no page breaks. Article files should be provided in Microsoft Word format.
When submitting an article for consideration, it is suggested to arrange it in several separate files: 1 ‒ Title page, 2 ‒ Main text of the paper without Authors’ Affiliations, 3 – Supplementary Materials (duplicate all graphic and illustrative materialsm and formulas in formats that can be edited (for example, Excel).
File 1. Title Page
The paper organization is the following:
The title of the article should consist of at least ten words. The title should present the study.
An Open Researcher and Contributor Identifier (ORCID iD) is a unique and persistent digital identifier used to disambiguate researchers from one another. Created by ORCID, this iD helps ensure that work is properly attributed and that you receive credit for everything you do. It integrates with other identifiers (e.g., ResearcherID, Scopus and LinkedIn) and databases (e.g., Crossref) to centralize your research outputs and professional profiles. The author’s ORCID iD remains the same no matter whether he or she changes his/her name, institution, country or field of research and provides a unique and permanent marker of the scholarly contributions.
All information must be complete and accurate.
The abstract should not be less than 2000 signs. The text must be concise, clear, free of background information and with clear and objective view of the main concepts in the paper. It should not contain results that are not presented and not substantiated in the main text. The abstract should not contain abbreviations and citations. The abstract should specify the purpose of the article, briefly describe the author’s contribution to the solution of the research problem, the scientific novelty and the practical significance of the results obtained, the main conclusions of the research.
The recommended template for writing the abstract. This paper summarizes the arguments and counterarguments within the scientific discussion on the issue…… The main purpose of the research is…. Systematization of the literary sources and approaches for solving the problem….. indicates that……. The relevance of this scientific problem decision is that ……….. Investigation of the topic… in the paper is carried out in the following logical sequence:………. Methodological tools of the research methods were……. years of research…… The object of research is the chosen company (countries, regions, universities, processes …….), because namely they……. The paper presents the results of an empirical analysis ……, which showed that … .. The research empirically confirms and theoretically proves that …… The results of the research can be useful for ….
The keywords are presented in the article to attract interested readers’ attention and simplify searching the manuscript through searchers. The number of keywords (phrases) should be from 5 to 10, given in alphabetical order.
Our articles are classified according to the JEL classification codes (this is a system of codes for the topic of publications in economics, developed by the Journal of Economic Literature (JEL) and available on the American Economic Association website. The article should contain from 1 to 5 JEL codes, each of which should consist of three characters (for example, D80, Z19). If the author has difficulties defining the JEL code, he or she can ask for help from the managing editor.
File 2. The main text of the paper
The introduction indicates the essence and purpose of the research, formulates the problem in general terms and its connection with other scientific or practical tasks, provides a detailed description of the current state of the problem under study. The purpose of the introduction is to give the reader the complete information about the issue and possible ways of its solution, summarize the relevance of the research, its scientific and practical significance.
This section analyzes research and publications, which starts solving this problem and forms the basis for the study of author/authors. The unresolved issues are distinguished, which denote a part of the general problem in the article.
Methodology and research methods (if necessary)
This section gives a brief description of the positive and negative methodological experience and determines the hypotheses that underlie the research, scientific theories, and schools within which this research is carried out. The methodological and empirical restrictions of the investigation continue the scientific provisions.
This section also describes the data collection methods and processing used in the study, the empirical bases of the study. If the article contains the results of sociological research, the organization or persons who conducted it should be noted. Besides, the type of research, the period and the range of the analyzed data, the sampling error, methods of data collection (for example, interviews, observations, experiments, analysis of the content etc.) should also be indicated. If the article contains the results of statistical analysis of data, this section describes the applied methods of data analysis, gives the characteristics of the adequacy and reliability of the obtained results, provides information on the sources of statistical information, databases, etc.
The methodology and methods should be described with sufficient details to allow the reader to verify the study results. If there are any restrictions on the disclosure of any information or access to data, it should be indicated.
This section presents the basic material of the research with the full justification of the received scientific results. The submitted material must be logically linked, clearly stated, and have the appropriate structure (if necessary, each part may have a name). During the presentation of the material, the scientific style should be followed.
Conclusions, Discussion and Recommendations
This section is a concise summary of the main findings of the study. The appropriate comment should describe the new phenomena and confirmed facts. The conclusions should be logically consistent with the title and purpose of the article, thorough, contain a comparison of the results with the analogues, recommendations for their implementation. It is advisable to give a clear vision of the prospects for further research in this area.
Acknowledgements and Research Funding
In this section, the authors provide information regarding the organization or individual who supports the study. It is also possible to mention other persons who participated in the research (technicians, laboratory assistants, etc.). It is obligatory to indicate the name of the fund, the name and number of the grant (research topic) when referring to the research funding source.
If there is no funding, the following phrase is required: “There is no funding for this research”
When submitting an article, the corresponding author should define the role of each author. Please get acquainted with Authorship and Contributorship (the roles of individual author’s contribution according to the CRediT – Contributor Roles Taxonomy. Authors make themselves mutually responsible for the role allocation and must confirm the assigned roles and Acknowledgements in the Cover Letter. Author individual contributions will be indicated in the article in the Author
Contributions section. Example:
Conceptualization: He Shuquan, Sora Ju.
Data curation: He Shuquan.
Formal analysis: Sora Ju.
Investigation: He Shuquan, Sora Ju.
Methodology: He Shuquan.
Project administration: He Shuquan, Sora Ju.
Supervision: He Shuquan, Sora Ju.
Validation: He Shuquan, Sora Ju.
Visualization: He Shuquan, Sora Ju.
Writing – original draft: He Shuquan.
Writing – review & editing: He Shuquan.
List of Abbreviations (if necessary)
If there are abbreviations in the text, the definition should be given in the text for the first time. A list of abbreviations should be provided in alphabetical order.
The correct link to a source in the text, listed in the reference list at the end of the article, should be:
In alphabetical order, references should be listed with the author’s last name in the first place at the end of the article. References to other publications must be checked for completeness and accuracy.
Each source from the list should have DOI or electronic link.
Author, A.A., Author, B.B., Author, C.C., Author D.D. (2005). Title of article. Title of Journal, Vol. (Issue.), 49-53. DOI
Article by DOI
Slifka, M.K., & Whitton, J.L. (2000). Clinical implications of dysregulated cytokine production. Journal of Molecular Medicine, doi:10.1007/s001090000086.
Timoshenko S.P., Young D.H., Weaver W. (1974). Vibration problems in engineering. 4th ed. New York, Wiley. 521 p.
Abou-Allaban, Y., Dell, M. L., Greenberg, W., Lomax, J., Peteet, J., Torres, M., & Cowell, V. (2006). Religious/spiritual commitments and psychiatric practice.
Resource document. American Psychiatric Association. https://www.psych.org/edu/other_res/lib_archives/archives/200604.pdf. Accessed 25 June 2007.
If there are Appendixes in the article, they appear on a new page after the figures. Multiple appendixes are labeled with letters (Appendix A, Appendix B).
All figures (diagrams, line drawings, web pages/screenshots and photo images) should be submitted in electronic form. Submit figures as separate high-resolution (300 dpi) JPEG, PDF or PNG images. All figures should be of high quality and clear. They should be numbered consecutively with Arabic numerals under their position in the text. The text of the article should refer to all the figures. Diagrams and drawings can be black-and-white or colored. Each figure should have a name that is placed beneath symmetrically to the text. Explanations to the figures should be concise, meaningful, reveal the symbols and abbreviations used in them.
Tables should be typed and included in a separate file to the main part of the article. The text of tables should be written using Times New Roman 10pt. The position of each table should be clearly stated in the text of the article. Do not submit tables as non-editable images. All tables should be numbered consecutively in their order in the text. Each of them should contain a link in the text of the article. The title of the table should be short and reveal the table content. If it is necessary to provide a note to the text of the table explaining the abbreviation, or possible error in the calculations given in the table and so on, then it should be listed below the table.
All formulas in the article should be numbered sequentially, beginning with (1) to the end of the article, including attachments. The number should be given in parentheses to the right of the formula in the same line with it. This number should be used when referencing it later in the text of the article (for example, equation (1)). Formulas and equations must be created in Microsoft Equation or Math Type editors in MS Word. They must be editable; all characters must be clearly identified (upper and lower case letters, other symbols, upper and lower indices, avoidance of confusion, for example, between zero and the letter “o” etc.). All the characters and units in which they are measured should be explained below the formulas.
All papers are published in English.
Language that is inclusive recognizes diversity, demonstrates respect for everyone, is cognizant of individual differences, and advances equal opportunity. Content must be inclusive throughout and should not indicate that one person is better than another based on their age, gender, race, ethnicity, culture, sexual orientation, handicap, or state of health. It should also make no assumptions about the beliefs or convictions of any reader. The use of slang, references to the dominant culture, bias, stereotypes, and/or cultural assumptions should all be avoided by authors. We advise attempting to be gender neutral by using plural nouns (“clinicians, patients/clients”) as a default and avoiding the use of “he, she,” or “he/she” whenever possible. We advise against using descriptors that refer to a person’s age, gender (aside from where it is necessary for the research), race, ethnicity, culture, sexual orientation, or physical or mental health condition unless they are valid and pertinent. These rules are not intended to be exhaustive or conclusive, but rather to serve as a point of reference for identifying acceptable language.
File 3. Graphic and illustrative materials
In this file, we ask authors to present all the graphical and illustrative materials and formulas given in the main text of the article, in formats that can be edited (for example, Excel).
All articles submitted to the journal are double-peer-reviewed.
The reviewers participate in the reviewing process, depending on their research interests (in more detail – Guidelines for Reviewers).
The list of External Reviewers:
Step 1. Submission of the full-text article to consider. The corresponding author sends the full text of the article to the e-mail marked in the contacts of the selected journal. Then, the managing editor examines the article regarding compliance with the topics and requirements of the journal. The managing editor must notify the corresponding author about the review’s results not later than in a week.
The corresponding author must ensure that all the co-authors listed in the article have approved its final version, and also agreed to submit it to the publication. Article submission for publication in the journal provides that all authors (co-authors) approve its publication. All of them took part in the study and/or preparation of the article. When submitting an article to consider by the editorial board, the corresponding author should give accurate and reliable contact information. He or she will be fully responsible for all aspects related to ethical issues and the originality of the article’s content, acting as the primary contact in the case of any disputes and inquiries before or after the publication of the article. By submitting an article for publication, the authors (co-authors) should fully consider the requirements of the editorial board and the publisher on the content and quality of the original data presentation. The publication of the manuscript means that this article has not been previously published and is not considered for publication in other journals. It was approved by all co-authors and the institution where they carry out the study. The publisher is not legally responsible for any claims.
Step 2. Checking the article for originality. The editor checks the submitted materials for authenticity using the StrikePlagiarism software product to detect plagiarism. The managing editor must notify the corresponding author about the results of checking not later than in a week.
Step 3. Reviewing the article. Two reviewers receive the article for double-blind peer review. The reviewer and the author are anonymous, that guarantees the fairness of the review process. Manuscripts for review are sent to the reviewers according to the field of their scientific interests. Reviewers give one of the following recommendations: 1) to accept the article for printing in its original form; 2) the article requires minor corrections, recommendations on which are indicated in the referee-report; 3) a substantial revision of the article content is needed, recommendations for improving the material are indicated in the referee-report; 4) to reject the article on the basis, noted in the referee-report. Reports of reviewers with comments and recommendations are sent to the corresponding author by e-mail. The article review process takes up to 2 months.
Step 4. Acceptance of the article for publication. If there are any recommendations in the reviewing process to make certain corrections to the manuscript, the corresponding author should send the revised article along with the file “Response to reviewers’ comments”, in which all experts’ comments should be answered. The editorial board takes the final decision on the recommendation of this article to publish.
Step 5. Article preparation for publication. A technical editor checks all manuscripts accepted for publication for stylistic and linguistic errors. If necessary, the managing editor coordinates all questions with the author by e-mail. The corresponding author receives the revised version of the article for approval. He or she makes appropriate corrections if necessary and sends the final version of the article to the editorial board. Significant changes in the article, such as new results, corrections of the meaning, changes in the title of the manuscript and authorship, will be permitted if the corresponding editor approves them.
Step 6. Journal’s release for open access on the Internet. At this stage, the final version of the article will be published in the journal web-site and is available on the Internet. Corresponding authors will be informed about it by e-mail.
Step 7. Printing, circulation and distribution. Hard copies of the journal are sent to libraries and databases. It is necessary to contact the journal’s managing editor to order printed copies of the journal.