Finance Research Letters

Article	Citations
Unconventional, conventional monetary policies, and optimal energy supply structure in China	405
Why Was There More Household Stock Market Participation During the COVID-19 Pandemic?	399
How do Equity Investors Assess the Efficiency of Global Financial Institutions?	354
Can old sin make new shame? Stock market reactions to the release of movies re-exposing past corporate scandals	314
Exploring the effect of VAT carryforward and refund policy on enhancing innovation efficiency among China's A-share listed firms	314
Global value chain participation and income inequality within enterprises: An empirical study based on Chinese-listed companies	290
Unveiling the Yin and Yang of expansionary monetary policy: Differential impact on inequality in China based on a national-level survey	258
Editorial Board	250
Learning about unprecedented events: Agent-based modelling and the stock market impact of COVID-19	244
Repo haircuts: Market practices and the impact of minimum requirements on leverage	240
Cross-country spillover effects of interest rate and credit constraint policies	237
Do local innovation systems promote successful equity crowdfunding campaigns? Evidence from Italy	236
How Russian-Ukrainian geopolitical risks affect Chinese commodity and financial markets?	234
The role of gender in sales behaviour: Evidence from institutional financial brokerage	213
Strategic IPO timing of technology innovation-driven enterprises: A differential game analysis of market returns, disclosure costs, and industry dynamics	212
Historical Determinants of Fintech Development: Evidence from Initial Coin Offerings	206
Assessing the volatility of green firms	197
The effect of COVID-19 vaccine on the international financial markets	192
Editorial Board	189
Tax Authority Enforcement and Corporate Social Security Contributions: Evidence from China	185
Does peer-to-peer crowdfunding boost refugee entrepreneurs?	175
Management equity incentives, market dynamics, and corporate R&D investment	172
The Return and Volatility Connectedness of NFT Segments and Media Coverage: Fresh Evidence Based on News About the COVID-19 Pandemic	171
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	167
Management buyouts in times of economic policy uncertainty	161

Crises and changes: The impacts of CSR expenditure on loan and subsidy allocation in China's Pre- and Post-Pandemic periods	158
International tax incentives, cross-border research and development, and corporate innovation performance	157
The impact of economic policy uncertainty on IPO underpricing: Evidence from China	153
Does corporate social responsibility affect the performance of cross-border M&A of emerging market multinationals?	148
Community activism, Social ties and ESG campaign success	145
Credit availability, overinvestment, and corporate innovation capability	143
Legal background of corporate management and corporate audit quality	143
Manual task intensity and male-female wage gap: Evidence from China	138
Financial market reaction to the end of the right-wing populist government: The case of Poland	137
Detecting exuberance phenomena in thematic investing	135
Belt and Road Initiative: Driving innovation in tech enterprises through global value chains	134
Can prospect theory explain anomalies in the Chinese stock market?	133
The closed-form approximation to price basket options under stochastic interest rate	132
Demographic change and natural interest rate of China	132
Corporate credit risk and bond yield spreads: Market reactions to the spreads	132
Community resilience and house prices: A machine learning approach	130
Is it a matter of governance or judicial favoritism? Legal expertise at an executive level and its use in cases of corporate financial fraud	129
Human capital and corporate social investment: The effect of public policy	129
Regional social capital and stock price crash risk: Evidence from the US	128
A complementary valuation model and exit multiples	127
Peer digitalization and corporate investment decision	127
Social governance, financial regulation, and corporate investment efficiency	124
The Trilogy of Ownership, Income Diversification, and Performance Nexus: Empirical Evidence from Tunisian Banks	124
Does smart transformation in manufacturing promote enterprise value chain upgrades?	124
Invest in depth or breadth? The influence of multidisciplinary practices on the valuation and legitimation of living artists	124
Firm financialization: The role of policy inconsistency	122
Executives' overseas backgrounds and green innovation in manufacturing enterprises	121
Macroprudential policies, national culture, and bank systemic risk: A cross-country comparison	120
The impact of corporate ESG performance on buyers’ bargaining power in the industrial chain: Evidence from China	119
Fintech, financial regulation and corporate financialization: Evidence from China	116
How green finance drives new-quality productivity from the perspective of Chinese modernization	116
Does the introduction of CSR criteria into CEO incentive pay reduce their earnings management? The case of companies listed in the SBF 120	115
How green screening influences risk transmission among stock-bond indices: Insight into the dependence structure	114
Corporate social responsibility and credit risk	112
Prediction of market value of firms with corporate sustainability performance data using machine learning models	111
VAT credit refund policy and corporate risk-taking: Evidence from China	111
FinTech literature reviews: A hybrid approach	109
The equity market response to climate change litigation	108
Environmental policies on the systematic risk of critical metals companies	107
Effects of China’s capital controls on individual asset categories	105
Foreign equity lookback options with guarantees	104
Small price bias in the cryptocurrency market. A cognitive bias revealed by emotions on social networks	104
Stepping forward with ease: Government debt governance as a catalyst for entrepreneurship	103
Does individual SREP results reveal real news?	102
Modelling taxpayers’ behaviour based on prediction of trust using sentiment analysis	102
Infection, invasion, and inflation: Recent lessons	102
Futures, provisional sales, and earnings management in the global gold mining industry	102
A look across the big pond and into the abyss — Performance of earnout deals in Europe and in times of crisis	99
Risk contagion between commodity and China's stock markets under the impact of major events	98
ESG ratings and female corporate leadership: Evidence from African firms	98

Correlation among climate risk, climate policy uncertainty, and carbon-intensive stock markets in China	98
Transmission effects of real estate risk on municipal bond spreads	96
Does exposure to biodiversity risk drive firms’ digital transformation?	95
Recurrent neural network based parameter estimation of Hawkes model on high-frequency financial data	94
Soybean futures responses to meteorological disaster risk —— Empirical evidence from the Chicago board of trade	94
Market reactions to layoff announcements during crises: Examining impacts and conditioners	93
Inspection supervision and corporate green total factor productivity	92
An economic definition of ‘Fear of Missing Out’ (FOMO)	91
Exploring the time-varying dependence between Bitcoin and the global stock market: Evidence from a TVP-VAR approach	89
The impact of digital transformation on firm productivity: From the perspective of sustainable development	89
Corporate social anti-activism and firm stock price: Evidence from DEI program elimination	88
Green gains: The impact of REITs' environmental performance on sustainability-linked loan interest rates	87
Green bond and corporate environmental investment: The moderating effect of environmental concern	87
Firm-level perception of competition and innovation: Textual evidence from China	87
The impact of the Russia-Ukraine conflict on market efficiency: Evidence for the developed stock market	87
Rescue one and sacrifice others? Corporate tunneling phenomenon under China's new delisting regulations	87
Cryptocurrency market efficiency in short- and long-term horizons during COVID-19: An asymmetric multifractal analysis approach	87
Brand equity and the Covid-19 stock market crash: Evidence from U.S. listed firms	86
Does gambling culture affect firms’ investment efficiency?	86
The impact of North Korean nuclear threat on stock market linkages in Northeast Asia: The case of South Korea, China, and Japan	85
Does ESG performance improve firm creditworthiness?	85
Value creation or political trick? An event study on anti-ESG regulations	84
Digital transformation and labour investment efficiency: Heterogeneity across the enterprise life cycle	84
Does customer concentration affect corporate risk-taking? Evidence from China	84
Financial institution agglomeration and corporate labor allocation efficiency—Based on the context of government debt expansion	83
To green or not to green: The influence of board characteristics on carbon emissions	83
Institutional investor networks and crash risk: Evidence from China	82
SFDR Article 9: Is it all about impact?	82
Are gross financial inflows expansionary or contractionary? Evidence from emerging economies	81
Climate, geopolitical, and energy market risk interconnectedness: Evidence from a new climate risk index	81
Impacts of gender inequality on international trade and innovation	81
Population aging, digital divide, and household financial asset choices—An empirical study based on prefecture-level population census data	80
Does war spread the herding effect in stock markets? Evidence from emerging and developed markets during the Russia-Ukraine war	78
Impact of SciTech – Finance integration policy implementation on SME innovation performance: Mediating effect of tax burden	78
Bank efficiency and undesirable output: An analysis of non-performing loans in the Brazilian banking sector	78
Effects of Enterprise Viability on Corporate Green Innovation Performance	78
Cryptocurrencies and the threat versus the act event of geopolitical risk	77
Focus on the impact and predictive analysis of digitalization and green finance on the transformation of mineral and energy companies	76
Limit Order Book dynamics and order size modelling using Compound Hawkes Process	75
How digital transformation affects bank risk: Evidence from listed Chinese banks	75
Sentiment changes and the Monday effect	75
Which are the factors influencing green bonds issuance? Evidence from the European bonds market	75
Bankruptcy court establishment and corporate risk-taking	74
Political appointees and firms’ long-term capital market performance: Evidence from Central European countries	74
Using machine learning Meta-Classifiers to detect financial frauds	74
The impact of inclusive finance and education investment on new quality productivity: The nonlinear mediating effect of education development	74
Digital economy policy and corporate low-carbon innovation: Evidence from a quasi-natural experiment in China	73
Correlation impulse response functions	72
Risk disclosure and stock price crash risk: Evidence from Chinese listed firms	72
Remarks on the behaviour of financial market efficiency during the COVID-19 pandemic. The case of VIX	72
Digital transformation and corporates' green technology innovation performance–The mediating role of knowledge sharing	72
Interconnected dynamics of sustainable cryptocurrencies: Insights from transfer entropy analysis	70
Capital market openness and bank credit risk: Evidence from listed commercial banks	70
Media attention, information asymmetry and agribusiness ESG rating divergence	69
Media sentiment and corporate R&D manipulation	69
Does tax policy affect corporate environmental investment?	69
Development of corporate artificial intelligence and the quality of export products	69
Banks’ ESG disclosure: A new scoring model	68
Do investors herd under global crises? A comparative study between Chinese and the United States stock markets	68
Executive financial background, external audit quality and shadow banking in non-financial firms	68
Price discovery share: An order invariant measure of price discovery	67
Does dual-class share structure increase risk-taking? Evidence from Chinese firms in the United States	67
Is it all about noise? Investor sentiment and risk nexus: evidence from China	67
How the Economic Policy Uncertainty (EPU) impacts FinTech: The implication of P2P lending markets	67
Stock return predictability in China: Power of oil price trend	66
Bank credit in the digital age: Expansion or excessive expansion?	66
Managerial risk-taking incentives and debt diversity: Evidence from FAS 123R	65
Asset pricing with dividend surprises	65
Interlinkage between corporate social, environmental performance and financial performance: Firm-mediators in a multi-country context	64
Tracking customer risk aversion	64
The breadth of ownership and corporate earnings management	64
Digital transformation and enterprise external pay gap: Internal mechanism and empirical evidence	64
Does minority management affect a firm's capital structure? Evidence from Japan	64
The month-of-the-year effect in corporate lending	63
Do other firms’ stock price crashes affect corporate investment decisions within the business group: Evidence from Korean Chaebols	63
Financial market connectedness: The role of investors’ happiness	63
Proprietary algorithmic traders and liquidity supply during the pandemic	63
The unintended interaction effect of monetary and macroprudential policies: Evidence from China’s bank-level data	62
The effect of financial advisor reputation on mergers and acquisitions performance	62
Is the business cycle getting hit by climate policy uncertainty in China?	62

Analysis of the impact of bank digitization process on liquidity creation and risk-taking	62
Forecasting volatility in commodity markets with climate risk	62
Local government debt and household human capital investment	62
Local gambling preferences and insider trading profits: Evidence from China	61
The industrial internet and green technology innovation	61
Corporate financialization and litigation risk	61
Research on antecedent configurations of enterprise digital transformation and enterprise performance from the perspective of dynamic capability	61
How do enterprise big data applications mitigate asset mispricing?	61
Can Bitcoin Investors Profit from Predictions by Crypto Experts?	61
Research on the impact of industrial policy on corporate financialization	61
Do business trainings for audit committees matter in organizations? Focusing on earnings management	60
Judicial independence and growth investors' decisions	60
Mirroring the urban exodus: The impact of return migration on rural entrepreneurship	60
ESG performance and financial distress prediction of energy enterprises	60
The cross section of information transmission in news media and stock returns	59
Female board representation and firm value: International evidence	59
The impact of environmental regulation on green image management of supply chain: Evidence from China	59
Dynamic tail risk connectedness among green REITs, sustainability products, and fossil energy assets under external shocks	59
Temperature shocks and bank systemic risk: Evidence from China	59
Financial technology development, regional marketization, and the effectiveness of criminal investigation cases	58
Executive Human Capital Premium and Corporate Stock Price Volatility	58
Once bitten, twice bold? Early life tragedy and central bankers’ reaction to COVID-19	58
The economic value of NFT: Evidence from a portfolio analysis using mean–variance framework	58
Credit corruption, financial constraint and corporate innovation: Evidence on China	58
How does tax revenue sharing affect local government governance? Empirical evidence from Chinese cities	57
Impact of digital finance on agricultural output: From the perspective of digital development of agriculture	57
Time is money: An analysis of the time-to-failure in a flexible reorganization system	57
Climate risk perception, female directors and greenwashing	57
Legal background executives, corporate governance and corporate ESG performance	57
Does sovereign ESG shape corporate cash management in emerging markets?	57
Macroeconomic impact and stock returns' vulnerability by size, solvency, and financial distress	57
Co-movements in sector price indexes during the COVID-19 crisis: Evidence from the US	57
Tax planning ability and the CFO's compensation	56
Beyond threats: Extreme heatwaves and economic resilience in China	56
Market reaction to analyst forecasts by analysts with familyship: Evidence from South Korea	56
Return prediction: A tree-based conditional sort approach with firm characteristics	55
COVID-19 and commodity pricing premium: Evidence from the Chinese market	55
Macrofinancial information on the post-COVID-19 economic recovery: Will it be V, U or L-shaped?	55
Is China's carbon neutrality commitment truly credible? Evidence from a natural experiment	55
Narcissistic leaders do not share! The relationship between top managers' narcissism and the distribution of value added	55
Editorial Board	55
Editorial Board	54
Overconfidence and US stock market returns	54
Managerial decision, anchoring effects and acquisition premiums	54
CEO gender and the probability that firms go public	53
How does local government debt governance affect corporate credit mismatches? Evidence from implementing the New Budget Law	53
Interpretable EU ETS Phase 4 prices forecasting based on deep generative data augmentation approach	53
Sustainability transmission through focal nodes in supply chain networks	53
Changes in volatility leverage and spillover effects of crude oil futures markets affected by the 2022 Russia-Ukraine conflict	53
Corporate SDG performance and investor trading behavior	53
Network news reporting, information transparency, and corporate technological innovation	53
An empirical study of risk diffusion in the cryptocurrency market based on the network analysis	53
How higher education affects corporate human capital investment: Based on Upper Echelons Theory	53
Geopolitical risk and the Saudi stock market: Evidence from a new wavelet packet multiresolution cross-causality	53
Digital inclusive finance, intellectual property protection, and corporate carbon emission reduction	52
Stock bubbles under sudden public crises: A perspective from the excessive financialization of firms	52
Does the popularization of artificial intelligence increase the risk of corporate digital responsibility?	52
Local FinTech development and stock price crash risk	52
Cross-country spillovers of trade uncertainty and their formation mechanisms	52
Does corporate social responsibility impact mergers & acquisition premia? New international evidence	52
What has been changed in SPAC mergers? Evidence from Korea since their introduction	52
Impact of E-Banking on the Islamic bank profitability in Sub-Saharan Africa: What are the financial determinants?	52
Digital transformation and bond credit spread	52
Let’s have a party! - Temporal landmarks and firm behaviour: How corporate anniversaries influence managerial decisions	51
The dual effects of digital inclusive finance on the urban-rural income gap: An empirical investigation in China's Yangtze River Delta region	51
How does digital asset allocation affect accounting information quality? A perspective from corporate profitability and ownership	51
Bank connectedness and excessive risk-taking: Some cross-country evidence	51
Impact of digital economy on upgrading of industrial structure: From the financial development perspective	51
Exploring the black box: Board gender diversity and corporate social performance	51
COVID-19 and the liquidity network	50
The dual driving mechanism of financial literacy and risky financial assets on household entrepreneurial decision-making	50
Impact of enterprise artificial intelligence development on human capital structure	50
Media coverage and corporate green innovation	50
The value of diversification: ESG and investment in controversial industries	50
Emigration and outward FDI in China: Key role of institutional quality	50
Digital transformation and the herd behavior of corporate investment	49
Seeking common ground: CSR conformity and stock liquidity	49
Price limit change and magnet effect: The role of investor attention	49
A study of the impact of cryptocurrency price volatility on the stock and gold markets	49
Aging, financial coverage, and agricultural economic resilience: Nonlinear dynamics and thresholds	49
Homeownership and household risky asset holdings: Moderating role of social security and the mediating role of subjective well-being	49
Measuring systemic risk contribution: A higher-order moment augmented approach	48
Blockchain technology and internal control effectiveness	48
R&D disclosure and corporate innovation: Mediating role of financing structure	48
Impact of ownership structure on corporate social responsibility investment: The mediating role of analyst coverage	48
Building an index based on key SDG 12 indicators to promote the transition to a circular economy	48
Reform of the administrative approval system, regional financial development, and corporate performance: An exploration of a market-oriented governance mechanism	48
Information sharing among cryptocurrencies: Evidence from mutual information and approximate entropy during COVID-19	48
Financial performance index of IPO firms using VIKOR-CRITIC techniques	48
Board gender diversity and ESG performance balance in GCC firms	48
Tax avoidance, managerial ownership, and agency conflicts	47
Intraday analysis of macroeconomic news surprises, and asymmetries in Indian benchmark bond	47
Addressing climate challenges through ESG-real estate investment strategies: An asset allocation perspective	47
Corporate altruism, dual innovation and competitive advantage	47
Environmental regulation and firms' trans-regional investment: Evidence from the implementation of the New Environmental Protection Law	47