Finance Research Letters

Article	Citations
Central bank gold reserves and sovereign credit risk	355
How to attract professional investors in developing countries? An evidence-based structure for development impact bonds	331
Do hedge and merger arbitrage funds actually hedge? A time-varying volatility spillover approach	296
Extrapolative beliefs about Bitcoin returns	282
Monetary policy uncertainty and financial risk: The mediating role of corporate investment	273
The impact of corporate R&D on the transformation of intellectual property into intangible assets	264
The American Inventors Protection Act and the staggered market reaction to patent grants	237
Financial measures and banking crisis: New evidence	215
Prototyping to address cognitive gaps in Distributed Ledger investments	206
Co-jumps in the Chinese stock market before, during and after the COVID-19 pandemic: A network perspective	205
How the Economic Policy Uncertainty (EPU) impacts FinTech: The implication of P2P lending markets	203
Environmental courts, financing constraints, and corporate green innovation	199
SWF investments and debt maturity of target firms: An international evidence	198
An empirical investigation into the driving effects of green transformation policies and media governance on high-quality development in tourism enterprises	195
Open government and corporate misconduct: Evidence from China	192
Correlation among climate risk, climate policy uncertainty, and carbon-intensive stock markets in China	190
Corporations’ digital attitude and digital technology innovation: Are the heart and mouth in agreement or not?	190
Modeling GDP with a continuous-time finance approach	186
An economic definition of ‘Fear of Missing Out’ (FOMO)	172
Financial institution agglomeration and corporate labor allocation efficiency—Based on the context of government debt expansion	168
Firm-specific investor sentiment and stock price informativeness	160
The impact of North Korean nuclear threat on stock market linkages in Northeast Asia: The case of South Korea, China, and Japan	151
Mutual fund liquidity management and family affiliation	150
Payday alternative loans: PAL or Foe?	148
Disclosure of internal control evaluation reports of Chinese enterprises: History, problems and strategies	147

International tax incentives, cross-border research and development, and corporate innovation performance	142
Peer effect and funding success: Analyzing friendship networks in online credit markets	140
Cross-country spillover effects of interest rate and credit constraint policies	138
The influence of shareholder ESG performance on corporate sustainability: Exploring the role of ownership structure	136
Bond liquidity, debt maturity and bond risk premium	134
Testing static and dynamic leverage models: A standardized leverage measure approach	127
Analyzing market efficiency: The role of business cycles, risk aversion, and Occam’s razor in the Adaptive Market Hypothesis	125
Green credit guidelines and corporate financialization: Evidence from heavily polluting enterprises in China	124
Navigating crowdfunding for sustainability: Practical implications mapped	123
Does financial openness mitigate carbon emissions? Evidence from a cross-country study	122
Can reverse mixed reform promote green innovation in Chinese private enterprises?	118
Digital transformation and customer enterprise innovation - From the perspective of supply chain spillover effects	118
Improvement of transportation infrastructure, payment digitalization, and tourism consumption expenditure: Analysis based on CHFS data	117
Credit availability, overinvestment, and corporate innovation capability	117
Corporate social anti-activism and firm stock price: Evidence from DEI program elimination	115
Financial market reaction to the end of the right-wing populist government: The case of Poland	115
ESG transition incentives with loan guarantees	115
Management equity incentives, market dynamics, and corporate R&D investment	113
Can biodiversity risk improve firm ESG performance? Empirical evidence from China	111
The impact of institutional investors’ ESG concerns on corporate ESG disclosure: Evidence from site visits	111
Impact mechanism of digital transformation on supply chain resilience	111
Pledge of controlling shareholder's equity, digital transformation, and green innovation	110
Manual task intensity and male-female wage gap: Evidence from China	108
Cost uniqueness and corporate credit rating	107
Financial flexibility, organizational resilience and corporate green innovation	106
Interconnected dynamics of sustainable cryptocurrencies: Insights from transfer entropy analysis	106
Correlation impulse response functions	104
Managerial ability, managerial risk taking and innovation performance	102
The impact of corporate ESG performance on buyers’ bargaining power in the industrial chain: Evidence from China	102
Brexit's ripple: Probing the impact on stock market liquidity	102
Integration of two industries, risk-taking and manufacturing enterprise value: An empirical investigation based on Chinese listed companies	101
Did the COVID-19 pandemic (really) positively impact the IPO Market? An Analysis of information uncertainty	100
The relative performance of green REITs: Evidence from financial analysts’ forecasts and abnormal returns	99
External shocks, global value chain transmission and China's export fluctuation	98
The green reputation: Corporate culture and environmental reputation risk	97
Does corporate social responsibility affect stock liquidity? Evidence from China	96
COVID-19 and Stock Market Volatility: A Clustering Approach for S&P 500 Industry Indices	95
How do stock prices respond to the leading economic indicators? Analysis of large and small shocks	95
Stock market reactions and optimism bias in analysts’ earnings forecasts: An analysis of China's stock markets	94
Financial innovation, government auditing and corporate high-quality development: Evidence from China	94
CDS, CEO compensation, and firm value	93
Historical Determinants of Fintech Development: Evidence from Initial Coin Offerings	92
The asymmetric response of dividends to earnings news	92
Financial shocks, investor sentiment, and heterogeneous firms’ output volatility: Evidence from credit asset securitization markets	91
The Ulysses option: Smoking and delegation in individual investor decisions	90
Optimal lifetime income annuity without bequest: Single and annual premiums	89
Realized semibetas and international stock return predictability	89
The disappearing of firm investment efficiency: From the perspective of the discrepancy between production and consumption prices	87
Threats to central bank independence and exchange rate volatility: High-frequency identification with Trump’s Fed tweets	87
Modelling taxpayers’ behaviour based on prediction of trust using sentiment analysis	85

Management buyouts in times of economic policy uncertainty	85
Bitcoin and integration patterns in the forex market	84
Editorial Board	83
The COVID-19 risk in the cross-section of equity options	83
Did the 'Early harvest list' of commodity trade under ECFA promote the development of manufacturing industry in Taiwan Province? An empirical analysis based on staggered DID model	82
The Relation between the High-Yield Bond Spread and the Unemployment Rate in the Euro Area	81
Investor sentiment and mean-variance relation: Evidence from emerging futures markets	80
Non-positive spreads and trading venue halts: Are investors harmed?	80
The ties that bind: Social capital and perceived competition during financial crisis	79
Inequality, premium and the timing of resolution of uncertainty	79
The impact of government interventions on cross-listed securities: Evidence from the COVID-19 pandemic	79
Why insurance regulators need to require sensitivity settings of internal models for their approval	79
Optimal liquidation strategy for cryptocurrency marketplaces using stochastic control	79
Political conformity and entrepreneurship: Evidence from China	78
Editorial Board	76
Futures, provisional sales, and earnings management in the global gold mining industry	76
Corporate governance, financial indicators and asset impairments during the COVID-19 pandemic period	76
Can private health insurance improve happiness? Evidence from European countries	76
Market systemic risk, predictability and macroeconomics news	75
Asset pricing models in emerging markets: Factorial approaches vs. information stochastic discount factor	75
Individual investors’ dividend tax reform and stock price crash risk	75
The welfare impact of Euro on European consumers	74
Firms’ delayed replies and investor confidence: Evidence from M&A comment letters in China	74
Has shareholder background been priced?–Evidence from the issuance of financial bonds by financial leasing companies	72
Does individual SREP results reveal real news?	71
On the information content of implied liquidity measure: Evidence from the S&P 500 index options	71
Deconstructing the Gerber statistic	71
What drives diversity hiring in the mutual fund management industry?	71
Is the prediction of precious metal market volatility influenced by internet searches regarding uncertainty?	70
Did Donald Trump's tweets on Sino–U.S. Trade affect the offshore RMB exchange rate?	70
Monetary policy and cross-border acquisitions	70
Stock price idiosyncratic information and corporate innovation: A discussion of corporate innovation strategy	69
Does individual investors’ dividend tax influence analyst forecast? Evidence from a quasi-natural experiment in China	69
Regime-switching angular correlation diversification	69
Earnings management and analyst forecast	68
Product and geographic market diversification in U.S. banking	68
Shareholder tax cuts with household and firm heterogeneity	68
Voluntary CEO turnover, online information, and idiosyncratic volatility	67
Underwriters interest binding and IPO underpricing	67
Editorial Board	67
Determinants of credit default swap spread changes: The sell-side perspective	66
The greater the volume, the greater the analyst	66
Media Attention vs. Sentiment as Drivers of Conditional Volatility Predictions: An Application to Brexit	66
Price volatilities of bitcoin futures	66
Why local banking market concentration hinders IPOs and how it can work to issuers’ advantage	66
Cokurtosis and the Ability of Mutual Fund Managers	65
Dynamic changes in corporate financialization during CEO tenure	65
Can prospect theory explain anomalies in the Chinese stock market?	64
Dollar’s role in institutional and media impact on stablecoins	63
Role of hedging on crypto returns predictability: A new habit-based explanation	63
Investor-enterprise interactions and shadow banking of non-financial enterprises in China	63
The tangible hand? Does Communist Party involvement in governance promote corporate M&A performance	63
Financial constraints, exchange rate changes and export price: Evidence from Chinese exporters	62
The long-term impact of bank mergers on stock performance and default risk: The aftermath of the 2008 financial crisis✰	62
Investor traps: Funds launched during booms	62
A comparative study of firm value models: Default risk of corporate bonds	61
Political catastrophe and firm strategies: Evidence from the capitol riot	61
A risky affair: Dual class and FX hedging	60
Do IPOs outperform Treasury bills?	60
An study of liquidity shock, financial market participation on hollowing behavior of controlling shareholder	60
Determinants of using formal vs informal financial sector in BRICS group	60
Social governance, family happiness, and financial inclusion	60
Monetary policy and uncertainty resolution in commodity markets	60
Multi-step double barrier options	59
Human capital disclosures and institutional ownership	59
The dynamics of informed trading around corporate bankruptcies	59
The role of digital finance in enhancing export competitiveness: insights from China's listed companies	59
The effect of COVID-19 vaccine on the international financial markets	58
Forecasting the daily exchange rate of the UK pound sterling against the US dollar	58
Green gains: The impact of REITs' environmental performance on sustainability-linked loan interest rates	58
An empirical study on the impact of household debt level on consumption behavior: Based on the mechanism of the housing provident fund system and risk preference	57
Digital economy, education, human capital and urban–rural income disparity	57
Board independence and corporate governance: Mediating role of financial asset allocation	57
Effects of digital economic antitrust policy on enhancing corporate innovation performance	57
Strategic IPO timing of technology innovation-driven enterprises: A differential game analysis of market returns, disclosure costs, and industry dynamics	56
Does corruption control enhance ESG-induced firm value? Insights from machine learning analysis	56
Dynamic hedging strategies for U.S. investors in international stock ETFs following geopolitical conflicts	56
Executives' overseas backgrounds and green innovation in manufacturing enterprises	55
Does domestic market integration promote an increase in the export value of manufacturing?	55
Impact of credit risk management on provisioning expectations: Evidence from U.S. banks during the subprime crisis	55

Editorial Board	54
Promoter's share pledging and investment–The role of financial constraints	54
The role of emotional factors in the acceptance of digital currency: An extended study of a technology acceptance model	54
Bank monitoring and debt dilution	54
The impact of investor interest protection on corporate innovation efficiency	54
Population aging and corporate risk-taking	53
A look across the big pond and into the abyss — Performance of earnout deals in Europe and in times of crisis	53
Seeking sigma: Time-of-the-day effects on the Bitcoin network	53
Does air pollution change the business strategy for investment? The strategic influence of national governance	53
Sustainable and socially responsible finance	52
Comparing ESG score weighting approaches and stock performance differentiation	52
Common ownership and firm dividend policies	52
Estimating the precise form of uncovered interest parity under the Stock–Watson dynamic OLS approach	52
Green credit policy and bankruptcy risk of heavily polluting enterprises	52
Predicting oil prices: A comparative analysis of machine learning and image recognition algorithms for trend prediction	52
Can altcoins act as hedges or safe-havens for Bitcoin?	52
Religiosity, gambling attitudes, and fintech credit adoption	52
Is it a matter of governance or judicial favoritism? Legal expertise at an executive level and its use in cases of corporate financial fraud	52
Bitcoin arbitrage	52
Cold time, cool time? Weather-induced moods and financial risk tolerance: Evidence from a real-world banking context	51
A note on modelling yield curve control: A target-zone approach	51
Examining the Maturity of Bitcoin Price through a Catastrophic Event: The Case of Structural Break Analysis During the COVID-19 Pandemic	51
Rescue one and sacrifice others? Corporate tunneling phenomenon under China's new delisting regulations	51
Time-varying market efficiency of safe-haven assets	50
Media attention and large shareholders' embezzlement behavior	50
Can urban low-carbon transitions promote enterprise digital transformation?	50
Remarks on the behaviour of financial market efficiency during the COVID-19 pandemic. The case of VIX	50
Banks’ ESG disclosure: A new scoring model	50
Cyber risks and initial coin offerings: Evidence from the world	50
The power of paper: Scientific disclosure and firm innovation	49
Boosting agnostic fundamental analysis: Using machine learning to identify mispricing in European stock markets	49
Stakeholder-oriented corporate investment: A catering perspective	49
A COVID-19 forecasting system using adaptive neuro-fuzzy inference	48
A comparative analysis of housing prices in different cities using the Black–Scholes and Jump Diffusion models	47
Do formal and informal institutions shape the influence of sustainable banking on financial development?	47
Editorial Board	47
The effect of enterprise risk management on corporate risk management	47
Firm investment steering through state-level policy uncertainty	47
Learning about unprecedented events: Agent-based modelling and the stock market impact of COVID-19	46
Analytical properties of Hasbrouck and generalized information shares	46
Green innovation in family business succession: Exploring decision-making under parent-child co-governance	46
Minimum wage and internal income disparity within enterprises	46
Human capital and corporate social investment: The effect of public policy	46
A comment on the relationship between operating leverage and financial leverage	46
Strategic deviation and debt maturity structure	46
How does family exit affect family business financialization?	46
Digital transformation and high-quality development of sports-listed companies: An analysis of vocabulary from annual report texts	46
Connectedness of stock markets with gold and oil: New evidence from COVID-19 pandemic	45
Exploring hedging potentials of green bonds against oil price shocks: Evidence from quantile-on-quantile connectedness measures	45
Carbon trading mechanism and industrial pollution behavior: A study based on regression discontinuity design analysis	45
Green investment products, consumer behavior, and regional carbon emissions levels	45
The equity market response to climate change litigation	45
Exploring the landscape of financial inclusion through the lens of financial technologies: A review	45
Spillovers between Bitcoin and Meme stocks	45
Exaggerating, distracting, or window-dressing? An empirical study on firm greenwashing recognition	44
On the relationship between geopolitical risks and euro area sovereign bond yields	44
Foreign shareholders and executive compensation stickiness: Evidence from China	44
Forecasting returns of major cryptocurrencies: Evidence from regime-switching factor models	44
Multiple large shareholders and asset-liability maturity mismatches	44
Does credit growth predict lower returns for large banks?	44
Green finance reform and stock price crash risk: Evidence from Chinese heavily polluting companies	44
What drives retail portfolio exposure to ESG factors?	44
Detecting exuberance phenomena in thematic investing	44
Legal background of corporate management and corporate audit quality	43
ESG complementarity in emerging market: Evidence from China	43
Does tax policy affect corporate environmental investment?	43
ESG rating disagreement and corporate digital transformation	43
Top management team heterogeneity and corporate ESG performance	43
Community activism, Social ties and ESG campaign success	43
Nonexecutive employee compensation and firm labor productivity	43
Cautious or calculated? State-level policy uncertainty and corporate cash holdings	42
Sustainability labels matter	42
The reputational contagion effects of ransomware attacks	42
Digital economy, dynamic capabilities, and corporate innovation boundary	42
Wall Street sneezes and global finance catches a cold: How does geopolitical risk contribute? A tale of tail	42
Are gross financial inflows expansionary or contractionary? Evidence from emerging economies	42
Firms’ climate risks and bank lending: Evidence from the COVID-19 crisis	42
Estimating the US trend short-term interest rate	41
Infection, invasion, and inflation: Recent lessons	41
Managerial ability and stock price synchronicity	41
COVID-19, CSR, and performance of listed tourism companies	41
Corporate sustainability and sustainable growth: The role of industry sensitivity	41
Style rotation on the JSE	41
Dynamic return connectedness between commodities and travel & leisure ETFs: Investment strategies and portfolio implications	41
How stock markets reacted to COVID-19? Evidence from 25 countries	41
Disclosure characteristics of annual reports and information asymmetry: Evidence from foreign firms listed on the US stock exchange	41
Climate policy uncertainty and its impact on major grain futures	41
Forecasting stock volatility during the stock market crash period: The role of Hawkes process	41
Herd behavior in U.S. bank stocks	40
Macroeconomic impacts of monetary and fiscal policy in the euro area in times of shifting policies: A SVAR approach	40
What drives cryptocurrency pump and dump schemes: Coin versus market factors?	40
Do investors and managers of active ETFs react to social media activities?	40
Effects of labor market flexibility on foreign direct investment: China evidence	40
Foreign equity lookback options with guarantees	40
Assessing the volatility of green firms	40