International Review of Financial Analysis

Article	Citations
Foundation-controlled firms and CEO compensation	529
Multinational corporations and share pledging of the controlling shareholder	429
Should Basel-style liquidity requirements be set countercyclically? Evidence from a numerical analysis	394
Does corporate culture impact tax shelter? A machine learning approach	368
Can parental financial literacy enhance children's higher education opportunities?	350
A conditional higher-moment CAPM	289
Speaking business: A systematic literature review of linguistic structures and financial reporting behavior	259
Temperature and trading behaviours	208
Risk culture in corporate innovation	198
Exploring the source of the financial performance in Chinese banks: A risk-adjusted decomposition approach	195
Does information transmission alleviate the salience bias of fund managers?	178
Subsidiary financing choices: The roles of institutional distances from home countries	175
Bank affiliation and mutual funds’ trading strategy distinctiveness	170
Asset redeployability and firm value amidst the COVID-19 pandemic: A real options perspective	164
Strategy choices in strategic risk-taking: Does climate risk matter?	162
Challenges to corporate supply chain stability under the trend of expert power concentration	150
Digitalization and banks' efficiency: Evidence from a European analysis	148
Effects of inflation and macroprudential policies on bank risk: Evidence from emerging economies	141
Corporate social responsibility and the choice of payment method in mergers and acquisitions	139
The power of religion: Islamic investing in the lab	135
Cybersecurity and executive compensation: Can inside debt-induced risk aversion improve cyber risk management effectiveness?	133
Fund trading divergence and performance contribution	132
The effects of overnight events on daytime trading sessions	128
Depositor market discipline: New evidence from selling failed banks	128
Can digital inclusive finance narrow the internal and external wage gaps in enterprises?	126

Good volatility, bad volatility, and the cross section of cryptocurrency returns	126
Herding and market volatility	123
Retailers' risk attitudes and the value of cooperation in supply chain finance under investment-loan linkage financing	122
Natural disaster experiences and household entrepreneurship: Evidence from China	121
Predicting equity premium out-of-sample by conditioning on newspaper-based uncertainty measures: A comparative study	118
Government open data and corporate supply chain concentration	118
Information interaction among institutional investors and stock price crash risk based on multiplex networks	115
Tax incentives, supply chain spillovers, and enterprise technological innovation	113
Uncertainty and cryptocurrency returns: A lesson from turbulent times	111
Which is more important in stock market forecasting: Attention or sentiment?	107
Does the connectedness among fossil energy returns matter for renewable energy stock returns? Fresh insights from the Cross-Quantilogram analysis	105
Impact and moderating mechanism of corporate tax avoidance on firm value from the perspective of corporate governance	104
Trade debts and bank lending in years of crisis	103
University shareholding and corporate innovation: Evidence from China	102
Hunting the quicksilver: Using textual news and causality analysis to predict market volatility	102
Concealment and detection: The influence of management tone on analyst forecast revisions	101
Supply chain financing, digital financial inclusion and enterprise innovation: Evidence from China	101
Chaos, overfitting and equilibrium: To what extent can machine learning beat the financial market?	98
Attention to biodiversity and stock returns	97
Corporate social irresponsibility: The relationship between ESG misconduct and the cost of equity	95
Retracted: Towards sustainable development: How does ESG performance promotes corporate green transformation	93
Financial flexibility, firm performance, and financial distress: A comparative study of China and the U.S. during pandemics	92
Ambiguity and asset pricing: An empirical investigation for an emerging market	90
Heterogeneous impacts of climate change news on China's financial markets	89
Risk factors disclosure and corporate philanthropy	86
Micro Mechanisms Driving China's Clean Energy Flourish: Business Expansion and Financing	86
Transforming banking: Examining the role of AI technology innovation in boosting banks financial performance	85
Greening the future: How green manufacturing shapes corporate environmental and ESG success	84
Sustainability indices nexus: Green economy, ESG, environment and clean energy	84
Institutional environment and qualified foreign institutional investors' trust in auditing	83
Does investor attitude toward carbon neutrality affect stock returns in China?	82
Dynamic spillovers between leading cryptocurrencies and derivatives tokens: Insights from a quantile VAR approach	81
Information connectedness of international crude oil futures: Evidence from SC, WTI, and Brent	81
Does geopolitical risk affect firms' idiosyncratic volatility? Evidence from China	81
Do central bankers' characteristics matter for Africa? Ethnic favoritism, fractionalization, and inflation	80
Climate risk and bank liquidity creation: International evidence	80
Tracking investor gambling intensity	79
Prescreening bank failures with K-means clustering: Pros and cons	79
Why does price deviate from net asset value? The case of Singaporean infrastructure REITs	78
Tax-related information regulatory capacity and accounting information quality	78
Stock price default boundary: A Black-Cox model approach	78
Is there more to asset price linkages in China than meets the eye: Cross-asset momentum and the role of hybrid funds	77
Corporate social responsibility overinvestment in mergers and acquisitions	76
Mean-variance versus utility maximization revisited: The case of constant relative risk aversion	74
Price informativeness and state-owned enterprises: Considering their heterogeneity	73
Tail connectedness of DeFi and CeFi with accessible banking pillars: Unveiling novel insights through wavelet and quantile cross-spectral coherence analyses	73
Adoption and content of key audit matters and stock price crash risk	73
Bursting the bitcoin bubble: Do market prices reflect fundamental bitcoin value?	73
The destabilizing effect of mutual fund herding: Evidence from China	73
Not all bank systemic risks are alike: Deposit insurance and bank risk revisited	72

Industry herding in crypto assets	72
Stock market reactions to monetary policy surprises under uncertainty	71
Futures volatility forecasting based on big data analytics with incorporating an order imbalance effect	71
Short-run disequilibrium adjustment and long-run equilibrium in the international stock markets: A network-based approach	70
Forecasting Value-at-Risk using functional volatility incorporating an exogenous effect	70
A novel HAR-type realized volatility forecasting model using graph neural network	69
Responsible investing: Upside potential and downside protection?	68
Identifying systemic risk of assets during international financial crises using Value at Risk elasticities	67
Bank loan renegotiation and financial institutions' network	67
Transaction-based government-business relationship via government customer	67
Exchange rate stability and expectation management under heterogeneous expectations	67
Less is more? New evidence from stock market volatility predictability	66
Identifying the determinants of European carbon allowances prices: A novel robust partial least squares method for open-high-low-close data	65
Trading strategies and Financial Performances: A simulation approach	65
Firm-level political risk, liquidity management, and managerial attributes	65
MSCI index inclusion and price efficiency evidence from China	64
Trading restriction and the choice for derivatives	64
Empirical research on banks' risk disclosure: Systematic literature review, bibliometric analysis and future research agenda	63
How does tail risk spill over between Chinese and the US stock markets? An empirical study based on multilayer network	63
Market distraction and near-zero daily volatility persistence	63
The impact of digital inclusive finance on household carbon emissions: Empirical evidence from China	62
Inhibition or inducement? The impact of carbon emissions trading scheme (ETS) on corporate earnings management from the perspective of public pressure	62
Hedging geopolitical risks with diverse commodities	61
Loan amendments and capital structure	61
Unintended consequences of the introduction of specialized bankruptcy courts: evidence from zombie lending	61
Rumors in the sky: Corporate rumors and stock price synchronicity	60
Impact of green taxes and fees on corporate ESG performance	59
Can executive green experience improve enterprise total factor productivity? Evidence from China	59
Benefits and costs: The impact of capital control on growth-at-risk in China	58
Family firm governance and working capital management policy	57
Can machine learning models save capital for banks? Evidence from a Spanish credit portfolio	56
Volatility connectedness on the central European forex markets	56
Artificial intelligence-based tokens: Fresh evidence of connectedness with artificial intelligence-based equities	56
Collateral damage: Evidence from share pledging in China	56
Intelligent manufacturing and trade credit	56
Managerial foreign experience and corporate risk-taking: Evidence from China	55
Why is it difficult for Chinese companies to operate across regions in China?—Evidence from zombie companies	55
Serving the truth: Do directors with media background improve financial reporting quality?	55
Take it with a pinch of salt—ESG rating of stocks and stock indices	55
Financial literacy and FinTech market growth around the world	54
Why do individuals not participate in the stock market?	54
Evaluating the impact of report readability on ESG scores: A generative AI approach	54
Internal business process governance and external regulation: How does AI technology empower financial performance?	54
How cryptocurrency affects economy? A network analysis using bibliometric methods	53
Politics and Robots	53
Capital investment, digital economy and innovation of high-tech industries	53
Evidence of oil market price clustering during the COVID-19 pandemic	53
Going mainstream: Cryptocurrency narratives in newspapers	53
FinTech and sustainable development: A systematic thematic analysis using human- and machine-generated processing	52
Corporate ESG performance and manager misconduct: Evidence from China	51
News-based ESG sentiment and stock price crash risk	51
Banking competition and the enhancement of new quality productive forces: Evidence from China	51
Climate transition risk in U.S. loan portfolios: Are all banks the same?	51
How does optimizing the business environment affect the capital flows between northern and southern China? From the perspective of enterprises' location choice for out-of-town investment	51
Compulsory liability insurance and excess cash holdings: Evidence from China	50
Industry effects of corporate environmental and social scandals: Evidence from China	50
Digitalization of tax administration and corporate performance: Evidence from China	50
Gender balance in academia: Evidence from finance departments	49
Testing how banks generate credit in the USA under the Basel III framework	49
The deleveraging puzzle of investment opportunity shock: A quasi-natural experiments on drug marketing authorization holder	49
Understanding crypto-asset exposure: An investigation of its impact on performance and stock sensitivity among listed companies	49
Payout policy around the world	48
Geographic expansion of banks and enterprise investment efficiency: Structural evidence from China	48
Factor price distortion, efficiency loss and enterprises' outward foreign direct investment	48
Be greedy when others are fearful: Evidence from a two-decade assessment of the NDX 100 and S&P 500 indexes	47
Biodiversity conservation and corporate environmental information disclosure: Evidence from a quasi-natural experiment in China	46
In search of climate distress risk	46
Precautionary motive or private benefit motive for holding cash: Evidence from CEO ownership	46
The performance and motivation of serial acquisitions: Evidence from Australia	46
Hubris or talent? Estimating the role of overconfidence in Chinese households’ investment decisions	45
Time to acquire: Regulatory burden and M&A activity	45
VaR and ES forecasting via recurrent neural network-based stateful models	45
Break a peg! A study of stablecoin co-instability	44
Forecasting U.S. Stock Returns Conditional on Geopolitical Risk and Business Cycles	44
Asymmetric effects of fair value adjustments on dividend policy	44
A novel downside beta and expected stock returns	44
Network connectedness and the contagion structure of informed trading: Evidence from the time and frequency domains	43
The profitability effect: Insight from a dynamic perspective	43
Strong financial regulation, shadow banking, and enterprise innovation inputs: A quasi-natural experiment based on the introduction of the “new regulation on asset management”	43
An examination of the effect of stock market liquidity on bank market power	42

Macroeconomic data manipulation and corporate investment efficiency: Evidence from China	41
Bank loans, trade credit, and liquidity shortages of small businesses during the global financial crisis	41
Investor sentiment and M&A withdrawal: International evidence	41
Atmospheric environmental resources and corporate green innovation: Blessing or curse of the weather?	41
Using implied volatility jumps for realized volatility forecasting: Evidence from the Chinese market	41
Does rising corporate social responsibility promote firm tax payments? New perspectives from a quantile approach	41
Possibility versus feasibility: International portfolio diversification under financial liberalization	41
Geographic dispersion and corporate resilience during the COVID-19 pandemic	41
Do narrative-related disclosures in the annual report enhance firm value? New evidence from an emerging market	40
Reflections of public perception of Russia-Ukraine conflict and Metaverse on the financial outlook of Metaverse coins: Fresh evidence from Reddit sentiment analysis	40
How technological innovation influence operational risk: Evidence from banks in China	40
Time-varying bond market integration and the impact of financial crises	40
How does green credit policy affect polluting firms' dividend policy? The China experience	40
Financial fusion: Bridging Islamic and Green investments in the European stock market	39
Environmental protection tax policy and corporate risk-taking: Evidence from China	39
Gold or Bitcoin, which is the safe haven during the COVID-19 pandemic?	39
Concentrated commonalities and systemic risk in China's banking system: A contagion network approach	39
Up or down? Short-term reversal, momentum, and liquidity effects in cryptocurrency markets	39
Exploring the relationship between Bitcoin price and network’s hashrate within endogenous system	38
Mandatory disclosure of comment letters and analysts' forecasts	38
Corporate social network and corporate social responsibility: A perspective of interlocking directorates	38
Can local policy uncertainty curtail corporate speculation on financial assets?	38
Financing the green projects: Market efficiency and volatility persistence of green versus conventional bonds, and the comparative effects of health and financial crises	38
Measuring the multi-scale price transmission effects from crude oil to energy stocks: A cascaded view	38
Impact of long-term care insurance on the financial asset allocation of middle-aged and elderly households: Evidence from China	38
Reevaluating the carbon premium: Evidence of green outperformance	38
Exploring the connectedness between major volatility indexes and worldwide sustainable investments	38
The effect of market competition on corporate cash holdings: An analysis of corporate innovation and financial constraint	37
How does green finance reform affect corporate ESG greenwashing behavior?	37
Electronic voting in shareholder meetings and the market value of cash holdings	37
Linkages between DeFi assets and conventional currencies: Evidence from the COVID-19 pandemic	37
Extreme risk spillovers from commodity indexes to sovereign CDS spreads of commodity dependent countries: A VAR quantile analysis	37
Achieving the United Nations' sustainable development goals through financial inclusion: A systematic literature review of access to finance across the globe	37
Family entrepreneurship around the world	37
The ESG effect on the cost of debt financing: A sharp RD analysis	36
Measuring speculation beyond day trading and bets on lottery-like stocks	36
Does CEO agreeableness personality mitigate real earnings management?	36
Conformity or differentiation? The role of CEO turnover	36
The existence and severity of the forward premium puzzle during tranquil and turbulent periods: Developed versus developing country currencies	35
Does the depth of digital trade rules promote bilateral value chain cooperation?	35
A gentle reminder: Should returns be interpreted as log differences?	35
Editorial Board	35
Are more analysts better? The case of convertible bond announcement effects	35
Does the truth rest with the minority? Divergent views on nonfinancial firms' financial investments from the private equity market	35
Product relatedness and firm productivity	35
Does goodwill pressure drive business restructuring based on subsidiary disposal?	35
Political corruption and corporate tax avoidance: A quasi-natural experiment	34
United we stand, divided we fall: The impact of top management team stability on corporate litigation	34
Forecasting global stock market volatilities in an uncertain world	34
The integration of share repurchases into investment decision-making: Evidence from Japan	34
Anatomy of recent value premium's travails	33
Analysts' initial coverage and stock price crashes	33
Chinese corporate governance research over the last decade (2014 - 2023)	33
Corporate social responsibility signalling under external transparency demands	33
Social capital, syndication, and investment performance: Evidence from PE investing in LBOs	33
Inhibiting or promoting? The impact of carbon emissions trading on corporate environmental responsibility	33
China's diversification discount: The role of the information environment	33
May board committees reduce the probability of financial distress? A survival analysis on Italian listed companies	33
Green and climate finance: Challenges and opportunities	33
Gender diversity and financial flexibility: Evidence from China	32
Environment-specific political risk discourse and expected crash risk: The role of political activism	32
Improved estimation of the correlation matrix using reinforcement learning and text-based networks	32
Market uncertainty, persistent arbitrage-free violation, and price discovery in RMB market	32
Nonlinear asset pricing in Chinese stock market: A deep learning approach	32
Can tax reduction incentive policy promote corporate digital and intelligent transformation?	32
Tail risk contagion and multiscale spillovers in the green finance index and large US technology stocks	32
The impact of human resource practices on corporate investment efficiency	32
Stock market anomalies: An extreme bounds analysis	32
Understanding interconnections among steel, coal, iron ore, and financial assets in the US and China using an advanced methodology	32
Dissecting hedge funds' strategies	32
Time and frequency connectedness of green equity indices: Uncovering a socially important link to Bitcoin	31
On equity market inefficiency during the COVID-19 pandemic	31
Double-edged sword: Does strong creditor protection in the bankruptcy process affect firm productivity	31
Asymmetric causality of economic policy uncertainty and oil volatility index on time-varying nexus of the clean energy, carbon and green bond	31
Can investor-firm interactions mitigate ESG rating divergence? Evidence from China	31
Does the establishment of bankruptcy courts affect the risk of corporate collapse?	31
Overlapping membership between risk management committee and audit committee and bank risk-taking: Evidence from China	31
Presenting a new deep learning-based method with the incorporation of error effects to predict certain cryptocurrencies	31
‘E’ of ESG and firm performance: Evidence from China	30
Geopolitical risk and stock price crash risk: The mitigating role of ESG performance	30
Dynamic portfolio optimization with the MARCOS approach under uncertainty	30
From low resource slack to inflexibility: The share price effect of operational efficiency	30
The impact of management equity incentive on firms' risk-taking under different monitoring conditions	30
Promoting or inhibiting: The impact of artificial intelligence application on corporate environmental performance	30
Does FinTech development facilitate firms' innovation? Evidence from China	30
Director foreign experience: Geographic specificity and value implication	30
Measuring informational efficiency of the European carbon market — A quantitative evaluation of higher order dependence	30
Retreat in order to advance: Environmental performance below legality aspiration and corporate disclosure strategy	30
Does broadband infrastructure affect corporate mergers and acquisitions? Quasi-natural experimental evidence from China	30
Are carry, momentum and value still there in currencies?	30
Investor attention, information acquisition, and value premium: A mispricing perspective	30
The economic gain of being small in the mutual fund industry: U.S. and international evidence	29
Market responses to spillovers in the energy commodity markets: Evaluating short-term vs. long-term effects and business-as-usual vs. distressed phases	29
The reduced-rank beta in linear stochastic discount factor models	29
Policy uncertainty and seasoned equity offerings methods	29