Malvina Hysa1,*, Dori Risilia2, Edvina Polaj3
1Logos University College, Tirana 1057, Albania.
2Agricultural University of Tirana, Tirana 1010, Albania.
3Barleti University, Tirana 1010, Albania.
*Corresponding author: Malvina Hysa
Abstract
The worldwide spread of the virus reached pandemic proportions and triggered a series of emergency measures: rate cuts, liquidity support, tax deferrals, travel bans, business closures, restrictions on gatherings to limit the spread. In particular, families and small and medium-sized businesses (SMEs) faced a drop in income, chain breaks, tighter credit conditions, and a significant liquidity crisis. All together, these lead to delays in the delivery of goods and payments and cause job losses and, as a result, business closures and bankruptcies. This period reflected in the decline in profitability, decline in asset quality, and credit slowdown. The global economy faced marked instability in financial markets. The main purpose of this paper is to record and reflect on the measures taken by the responsible institutions for the management of the situation and how efficient these measures have been.
References
[1] Gärling T, Kirchler E, Lewis A, van Raaij F. Psychology, financial decision making, and financial crises. Psychol Sci Public Interest. 2009;10(1):1-47. doi:10.1177/1529100610378437.
[2] Greenberg AE, Hershfield HE. Financial decision making. Consum Psychol Rev. 2019;2(1):17-29. doi:10.1002/arcp.1043.
[3] Rizani A, Rasyad RZ, Budiarti L, Sulistyawati US. Analysis of financial decision-making with a behavioral economics approach: Perspectives on capital market investors. Int J Manag Sci Inf Technol. 2023;3(2):205-16. doi:10.35870/ijmsit.v3i2.1471.
[4] Galli BJ, Battiloro G. Economic decision-making and the impact of risk management: How they relate to each other. Int J Serv Sci Manag Eng Technol. 2019;10(3):13-25.
doi:10.4018/IJSSMET.2019070101.
[5] Zopounidis C, Doumpos M. Multicriteria decision aid in uncertainty and financial risk management. In: Gil-Aluja J, editor. Hand-book of Management under Uncertainty. Springer; 2001. p. 109-28. doi:10.1007/978-1-4613-0285-8_5.
[6] Feinstein Z, Rudloff B, Weber S. Measures of systemic risk. arXiv preprint
arXiv:1502.07961. 2015.
[7] Jackson MO, Pernoud A. Systemic risk in financial networks: A survey. arXiv preprint
arXiv:2012.12702. 2020.
[8] Acerbi C, Nordio C, Sirtori C. Expected shortfall as a tool for financial risk management. arXiv preprint cond-mat/0102304. 2001.
[9] Kitt R. Economic decision making: Application of the theory of complex systems. arXiv preprint arXiv:1208.1277. 2012.
[10] Yazdipour R. Decision making in entrepreneurial finance: A behavioral perspective. J Entrep Financ. 2009;13(2):56-75. doi:10.57229/2373-1761.1021.
[11] Mishchenko S, Naumenkova S, Mishchenko V, Dorofeiev D. Innovation risk management in financial institutions. Invest Manag Financ Innov. 2021;18(1):190-202.
doi:10.21511/imfi.18(1).2021.16.
[12] Dinu AM. Risk in financial transactions and financial risk management. Procedia Soc Behav Sci. 2014;116:2458-61. doi:10.1016/j.sbspro.2014.01.591.
How to cite this paper
Financial Risk Management in the Post-COVID-19 Era
How to cite this paper: Malvina Hysa, Dori Risilia, Edvina Polaj. (2025) Financial Risk Management in the Post-COVID-19 Era. Scientific Access, 1(1), 32-36.
DOI: http://dx.doi.org/10.26855/sa.2025.06.006