... customer base for mobile payment and digital banking services. Conversely, inadequate infrastructure and slow internet speeds can limit fintech adoption, increase operational costs, and hinder profitability (Adade and de Vries, 2024 ; Sanga, 2025). In addition to ICT, drivers such as liquidity...

... of the price-to-sales ratio and takes into account the market states, Up and Down. Findings The anomalies associated with crashes and jackpots are not related to variations in economic conditions, but are associated with limits to arbitrage. High-liquidity stocks have strong mispricing effects...

... is to explore how stock market performance is affected by these polices, respectively. Design/methodology/approach The authors employ EGARCH and autoregressive distributional lag (ARDL) models to test the impact of epidemic prevention policy implementation on stock market returns, volatility and liquidity...