Finance Research Letters

Article	Citations
Unconventional, conventional monetary policies, and optimal energy supply structure in China	394
Why Was There More Household Stock Market Participation During the COVID-19 Pandemic?	392
Political appointees and firms’ long-term capital market performance: Evidence from Central European countries	344
How do Equity Investors Assess the Efficiency of Global Financial Institutions?	306
Exploring the effect of VAT carryforward and refund policy on enhancing innovation efficiency among China's A-share listed firms	304
Can old sin make new shame? Stock market reactions to the release of movies re-exposing past corporate scandals	281
Global value chain participation and income inequality within enterprises: An empirical study based on Chinese-listed companies	249
Unveiling the Yin and Yang of expansionary monetary policy: Differential impact on inequality in China based on a national-level survey	241
Does customer concentration affect corporate risk-taking? Evidence from China	233
Learning about unprecedented events: Agent-based modelling and the stock market impact of COVID-19	232
Editorial Board	232
Repo haircuts: Market practices and the impact of minimum requirements on leverage	230
The impact of North Korean nuclear threat on stock market linkages in Northeast Asia: The case of South Korea, China, and Japan	224
Cross-country spillover effects of interest rate and credit constraint policies	213
How Russian-Ukrainian geopolitical risks affect Chinese commodity and financial markets?	207
The role of gender in sales behaviour: Evidence from institutional financial brokerage	205
Do investors herd under global crises? A comparative study between Chinese and the United States stock markets	192
Strategic IPO timing of technology innovation-driven enterprises: A differential game analysis of market returns, disclosure costs, and industry dynamics	187
Do local innovation systems promote successful equity crowdfunding campaigns? Evidence from Italy	181
Which are the factors influencing green bonds issuance? Evidence from the European bonds market	178
Green gains: The impact of REITs' environmental performance on sustainability-linked loan interest rates	171
Historical Determinants of Fintech Development: Evidence from Initial Coin Offerings	167
Assessing the volatility of green firms	166
The effect of COVID-19 vaccine on the international financial markets	161
Editorial Board	153

Executives' overseas backgrounds and green innovation in manufacturing enterprises	151
Firm financialization: The role of policy inconsistency	151
Invest in depth or breadth? The influence of multidisciplinary practices on the valuation and legitimation of living artists	147
Does smart transformation in manufacturing promote enterprise value chain upgrades?	147
Does gambling culture affect firms’ investment efficiency?	141
Peer digitalization and corporate investment decision	134
A complementary valuation model and exit multiples	133
The Trilogy of Ownership, Income Diversification, and Performance Nexus: Empirical Evidence from Tunisian Banks	133
Social governance, financial regulation, and corporate investment efficiency	133
Population aging, digital divide, and household financial asset choices—An empirical study based on prefecture-level population census data	133
Financial institution agglomeration and corporate labor allocation efficiency—Based on the context of government debt expansion	131
Limit Order Book dynamics and order size modelling using Compound Hawkes Process	130
Manual task intensity and male-female wage gap: Evidence from China	128
Credit availability, overinvestment, and corporate innovation capability	128
Belt and Road Initiative: Driving innovation in tech enterprises through global value chains	126
Detecting exuberance phenomena in thematic investing	126
Financial market reaction to the end of the right-wing populist government: The case of Poland	126
Corporate credit risk and bond yield spreads: Market reactions to the spreads	124
Demographic change and natural interest rate of China	124
Can prospect theory explain anomalies in the Chinese stock market?	124
The closed-form approximation to price basket options under stochastic interest rate	122
Correlation impulse response functions	121
Community resilience and house prices: A machine learning approach	120
Is it a matter of governance or judicial favoritism? Legal expertise at an executive level and its use in cases of corporate financial fraud	120
Human capital and corporate social investment: The effect of public policy	120
Regional social capital and stock price crash risk: Evidence from the US	119
How the Economic Policy Uncertainty (EPU) impacts FinTech: The implication of P2P lending markets	117
Management buyouts in times of economic policy uncertainty	115
Are gross financial inflows expansionary or contractionary? Evidence from emerging economies	114
Brand equity and the Covid-19 stock market crash: Evidence from U.S. listed firms	113
Interconnected dynamics of sustainable cryptocurrencies: Insights from transfer entropy analysis	111
Media sentiment and corporate R&D manipulation	111
Does corporate social responsibility affect the performance of cross-border M&A of emerging market multinationals?	110
Value creation or political trick? An event study on anti-ESG regulations	110
Does ESG performance improve firm creditworthiness?	108
International tax incentives, cross-border research and development, and corporate innovation performance	106
The impact of economic policy uncertainty on IPO underpricing: Evidence from China	105
Bank efficiency and undesirable output: An analysis of non-performing loans in the Brazilian banking sector	105
Executive financial background, external audit quality and shadow banking in non-financial firms	104
Sentiment changes and the Monday effect	103
Legal background of corporate management and corporate audit quality	103
Community activism, Social ties and ESG campaign success	102
Tax Authority Enforcement and Corporate Social Security Contributions: Evidence from China	101
Dependences and dynamic spillovers across the crude oil and stock markets throughout the COVID-19 pandemic and Russia-Ukraine conflict: Evidence from the ASEAN+6	99
Does peer-to-peer crowdfunding boost refugee entrepreneurs?	99
Management equity incentives, market dynamics, and corporate R&D investment	99
Crises and changes: The impacts of CSR expenditure on loan and subsidy allocation in China's Pre- and Post-Pandemic periods	97
The Return and Volatility Connectedness of NFT Segments and Media Coverage: Fresh Evidence Based on News About the COVID-19 Pandemic	97
VAT credit refund policy and corporate risk-taking: Evidence from China	95
Using machine learning Meta-Classifiers to detect financial frauds	95

Climate, geopolitical, and energy market risk interconnectedness: Evidence from a new climate risk index	94
SFDR Article 9: Is it all about impact?	94
Bankruptcy court establishment and corporate risk-taking	92
Focus on the impact and predictive analysis of digitalization and green finance on the transformation of mineral and energy companies	92
Does the introduction of CSR criteria into CEO incentive pay reduce their earnings management? The case of companies listed in the SBF 120	91
The equity market response to climate change litigation	91
Environmental policies on the systematic risk of critical metals companies	90
Effects of China’s capital controls on individual asset categories	89
Small price bias in the cryptocurrency market. A cognitive bias revealed by emotions on social networks	87
Foreign equity lookback options with guarantees	87
Rescue one and sacrifice others? Corporate tunneling phenomenon under China's new delisting regulations	87
Does individual SREP results reveal real news?	86
Stepping forward with ease: Government debt governance as a catalyst for entrepreneurship	86
Futures, provisional sales, and earnings management in the global gold mining industry	84
Impact of SciTech – Finance integration policy implementation on SME innovation performance: Mediating effect of tax burden	84
Modelling taxpayers’ behaviour based on prediction of trust using sentiment analysis	84
Infection, invasion, and inflation: Recent lessons	84
ESG ratings and female corporate leadership: Evidence from African firms	83
Risk contagion between commodity and China's stock markets under the impact of major events	83
Capital market openness and bank credit risk: Evidence from listed commercial banks	82
Transmission effects of real estate risk on municipal bond spreads	82
Recurrent neural network based parameter estimation of Hawkes model on high-frequency financial data	82
Correlation among climate risk, climate policy uncertainty, and carbon-intensive stock markets in China	81
Soybean futures responses to meteorological disaster risk —— Empirical evidence from the Chicago board of trade	81
Development of corporate artificial intelligence and the quality of export products	81
Inspection supervision and corporate green total factor productivity	80
Banks’ ESG disclosure: A new scoring model	80
A look across the big pond and into the abyss — Performance of earnout deals in Europe and in times of crisis	80
An economic definition of ‘Fear of Missing Out’ (FOMO)	79
The impact of digital transformation on firm productivity: From the perspective of sustainable development	79
Corporate social anti-activism and firm stock price: Evidence from DEI program elimination	79
Market reactions to layoff announcements during crises: Examining impacts and conditioners	78
Risk disclosure and stock price crash risk: Evidence from Chinese listed firms	78
Green bond and corporate environmental investment: The moderating effect of environmental concern	77
Does tax policy affect corporate environmental investment?	75
How green screening influences risk transmission among stock-bond indices: Insight into the dependence structure	75
Price discovery share: An order invariant measure of price discovery	75
The impact of corporate ESG performance on buyers’ bargaining power in the industrial chain: Evidence from China	73
Macroprudential policies, national culture, and bank systemic risk: A cross-country comparison	73
Is it all about noise? Investor sentiment and risk nexus: evidence from China	73
Impacts of gender inequality on international trade and innovation	73
How digital transformation affects bank risk: Evidence from listed Chinese banks	73
Fintech, financial regulation and corporate financialization: Evidence from China	72
Remarks on the behaviour of financial market efficiency during the COVID-19 pandemic. The case of VIX	72
Exploring the time-varying dependence between Bitcoin and the global stock market: Evidence from a TVP-VAR approach	72
The impact of inclusive finance and education investment on new quality productivity: The nonlinear mediating effect of education development	70
Media attention, information asymmetry and agribusiness ESG rating divergence	70
Firm-level perception of competition and innovation: Textual evidence from China	70
Corporate social responsibility and credit risk	69
Does war spread the herding effect in stock markets? Evidence from emerging and developed markets during the Russia-Ukraine war	69
Digital economy policy and corporate low-carbon innovation: Evidence from a quasi-natural experiment in China	69
Prediction of market value of firms with corporate sustainability performance data using machine learning models	69
Cryptocurrencies and the threat versus the act event of geopolitical risk	68
To green or not to green: The influence of board characteristics on carbon emissions	68
The impact of the Russia-Ukraine conflict on market efficiency: Evidence for the developed stock market	67
FinTech literature reviews: A hybrid approach	66
Digital transformation and labour investment efficiency: Heterogeneity across the enterprise life cycle	66
Digital transformation and corporates' green technology innovation performance–The mediating role of knowledge sharing	66
Cryptocurrency market efficiency in short- and long-term horizons during COVID-19: An asymmetric multifractal analysis approach	66
Institutional investor networks and crash risk: Evidence from China	66
Stock return predictability in China: Power of oil price trend	65
Bank credit in the digital age: Expansion or excessive expansion?	65
Does dual-class share structure increase risk-taking? Evidence from Chinese firms in the United States	65
Interlinkage between corporate social, environmental performance and financial performance: Firm-mediators in a multi-country context	64
Managerial risk-taking incentives and debt diversity: Evidence from FAS 123R	64
Does minority management affect a firm's capital structure? Evidence from Japan	64
Asset pricing with dividend surprises	64
Panacea for M&A dealmaking? Investor perceptions of earnouts	64
Digital transformation and enterprise external pay gap: Internal mechanism and empirical evidence	63
The breadth of ownership and corporate earnings management	63
Proprietary algorithmic traders and liquidity supply during the pandemic	62
The month-of-the-year effect in corporate lending	62
Tracking customer risk aversion	62
Do other firms’ stock price crashes affect corporate investment decisions within the business group: Evidence from Korean Chaebols	62
Local government debt and household human capital investment	61
Income volatility and household commercial insurance allocation	61
Research on the impact of industrial policy on corporate financialization	60
How does tax revenue sharing affect local government governance? Empirical evidence from Chinese cities	60
The industrial internet and green technology innovation	60
Financial market connectedness: The role of investors’ happiness	60

Analysis of the impact of bank digitization process on liquidity creation and risk-taking	60
How do enterprise big data applications mitigate asset mispricing?	59
Is the business cycle getting hit by climate policy uncertainty in China?	59
The effect of financial advisor reputation on mergers and acquisitions performance	59
The unintended interaction effect of monetary and macroprudential policies: Evidence from China’s bank-level data	59
Forecasting volatility in commodity markets with climate risk	59
Research on antecedent configurations of enterprise digital transformation and enterprise performance from the perspective of dynamic capability	58
Once bitten, twice bold? Early life tragedy and central bankers’ reaction to COVID-19	58
Changes in volatility leverage and spillover effects of crude oil futures markets affected by the 2022 Russia-Ukraine conflict	58
Environmental regulation and firms' trans-regional investment: Evidence from the implementation of the New Environmental Protection Law	58
Local gambling preferences and insider trading profits: Evidence from China	58
Exploring the black box: Board gender diversity and corporate social performance	58
Time is money: An analysis of the time-to-failure in a flexible reorganization system	57
Corporate financialization and litigation risk	57
Co-movements in sector price indexes during the COVID-19 crisis: Evidence from the US	57
Can Bitcoin Investors Profit from Predictions by Crypto Experts?	57
Market reaction to analyst forecasts by analysts with familyship: Evidence from South Korea	57
Female board representation and firm value: International evidence	57
Tax planning ability and the CFO's compensation	56
Is China's carbon neutrality commitment truly credible? Evidence from a natural experiment	56
Macrofinancial information on the post-COVID-19 economic recovery: Will it be V, U or L-shaped?	56
Beyond threats: Extreme heatwaves and economic resilience in China	56
COVID-19 and commodity pricing premium: Evidence from the Chinese market	56
The cross section of information transmission in news media and stock returns	56
Return prediction: A tree-based conditional sort approach with firm characteristics	56
Narcissistic leaders do not share! The relationship between top managers' narcissism and the distribution of value added	56
Editorial Board	55
Editorial Board	55
Managerial decision, anchoring effects and acquisition premiums	55
Overconfidence and US stock market returns	55
How higher education affects corporate human capital investment: Based on Upper Echelons Theory	54
Corporate ESG performance and competitive strategies from the perspective of financial markets: Strategic significance of firm size	54
CEO gender and the probability that firms go public	54
The crowding out channel: Housing boom and investment in China	54
Does sovereign ESG shape corporate cash management in emerging markets?	53
Sustainability transmission through focal nodes in supply chain networks	53
Network news reporting, information transparency, and corporate technological innovation	52
The dual driving mechanism of financial literacy and risky financial assets on household entrepreneurial decision-making	52
COVID-19 and the liquidity network	52
Interpretable EU ETS Phase 4 prices forecasting based on deep generative data augmentation approach	52
How does local government debt governance affect corporate credit mismatches? Evidence from implementing the New Budget Law	52
Emigration and outward FDI in China: Key role of institutional quality	52
An empirical study of risk diffusion in the cryptocurrency market based on the network analysis	52
Media coverage and corporate green innovation	52
Safe haven for crude oil: Gold or currencies?	51
Reform of the administrative approval system, regional financial development, and corporate performance: An exploration of a market-oriented governance mechanism	51
Narrative attention and related cryptocurrency returns	51
Big data development, accounting information quality, and corporate innovation	51
Intraday analysis of macroeconomic news surprises, and asymmetries in Indian benchmark bond	51
Digital finance, managerial ability, and corporate financing costs	51
Who really cares? Climate change exposure and auditor conservatism: Evidence from China	51
Seeking common ground: CSR conformity and stock liquidity	51
Price limit change and magnet effect: The role of investor attention	51
The value of diversification: ESG and investment in controversial industries	51
Blockchain technology and internal control effectiveness	50
Impact of ownership structure on corporate social responsibility investment: The mediating role of analyst coverage	50
Homeownership and household risky asset holdings: Moderating role of social security and the mediating role of subjective well-being	50
Board gender diversity and ESG performance balance in GCC firms	50
Temperature shocks and bank systemic risk: Evidence from China	50
R&D disclosure and corporate innovation: Mediating role of financing structure	50
Digital transformation and the herd behavior of corporate investment	50
Geopolitical risk and the Saudi stock market: Evidence from a new wavelet packet multiresolution cross-causality	49
Where does corporate social capital matter the most? Evidence From the COVID-19 crisis	49
Information sharing among cryptocurrencies: Evidence from mutual information and approximate entropy during COVID-19	49
How does digital asset allocation affect accounting information quality? A perspective from corporate profitability and ownership	49
Financial performance index of IPO firms using VIKOR-CRITIC techniques	49
The economic value of NFT: Evidence from a portfolio analysis using mean–variance framework	49
Impact of E-Banking on the Islamic bank profitability in Sub-Saharan Africa: What are the financial determinants?	49
Measuring systemic risk contribution: A higher-order moment augmented approach	49
A study of the impact of cryptocurrency price volatility on the stock and gold markets	49
Population aging and sustainable economic development: An analysis based on the role of green finance	49
Let’s have a party! - Temporal landmarks and firm behaviour: How corporate anniversaries influence managerial decisions	49
Credit corruption, financial constraint and corporate innovation: Evidence on China	49
Addressing climate challenges through ESG-real estate investment strategies: An asset allocation perspective	48
Financial technology development, regional marketization, and the effectiveness of criminal investigation cases	48
Advances in Explainable Artificial Intelligence (xAI) in Finance	48
Digital inclusive finance, intellectual property protection, and corporate carbon emission reduction	48
Dynamic tail risk connectedness among green REITs, sustainability products, and fossil energy assets under external shocks	48
The effectiveness of macro-prudential policies in the face of global uncertainty –the role of exchange-rate regimes	48
Impact of digital economy on upgrading of industrial structure: From the financial development perspective	48
Corporate SDG performance and investor trading behavior	47
Bank connectedness and excessive risk-taking: Some cross-country evidence	47
Government accounting supervision and risk of stock price crashes of listed companies: Evidence from the ministry of finance in China	47
Corporate digital transformation and financialization: Evidence from Chinese listed firms	47
Changes in stock price synchronicity driven by digital transformation: The role of media attention and accounting conservatism	47
Stock bubbles under sudden public crises: A perspective from the excessive financialization of firms	46
Digital transformation and corporate creditworthiness	46
ESG performance and financial distress prediction of energy enterprises	46
Mirroring the urban exodus: The impact of return migration on rural entrepreneurship	46
Tax avoidance, managerial ownership, and agency conflicts	46
The Power of the Imperial Envoy: The Impact of Central Government Onsite Environmental Supervision Policy on Corporate Green Innovation	46
Bank credit, microfinance and female ownership: Are women more disadvantaged than men?	45
Do business trainings for audit committees matter in organizations? Focusing on earnings management	45
It takes two to tango: Impact of salary co-movement between top executives and ordinary employees on corporate innovation	45
Human capital upgrading and enterprise innovation efficiency	44