Finance Research Letters

Article	Citations
Repo haircuts: Market practices and the impact of minimum requirements on leverage	423
Cross-country spillover effects of interest rate and credit constraint policies	412
Unveiling the Yin and Yang of expansionary monetary policy: Differential impact on inequality in China based on a national-level survey	381
Can old sin make new shame? Stock market reactions to the release of movies re-exposing past corporate scandals	331
Global value chain participation and income inequality within enterprises: An empirical study based on Chinese-listed companies	326
Digital finance, data elements, and artificial intelligence innovation	310
Climate governance, CSR strategy, and corporate environmental decoupling	283
Does stepping-back from IFRS pay off? Evidence from European unlisted firms’ cost of debt	267
VAT credit refund policy and corporate risk-taking: Evidence from China	266
Intellectual property law enforcement and regional cluster innovation efficiency	251
Ecological rule of law, financial constraints, and investment in heavily polluting enterprises	247
Impact of digital financial inclusion on rural revitalization	247
Does managerial climate awareness affect green bond issuance? The moderating role of managerial myopia	246
Population aging, digital divide, and household financial asset choices—An empirical study based on prefecture-level population census data	218
Editorial Board	212
The effect of COVID-19 vaccine on the international financial markets	212
The impact of corporate ESG performance on buyers’ bargaining power in the industrial chain: Evidence from China	209
Investor sentiment and corporate earnings management	203
How ESG engagement shapes firm life cycle progression: Evidence from U.S. data	203
Energy transition investments and carbon emissions: asymmetric and dynamic effects across developed and emerging economies	197
Does 3D printing technology promote OFDI? Evidence from Chinese listed companies	195
Risk spillovers among energy, metals, and agriculture commodity markets: A network perspective	180
Assessing the volatility of green firms	179
Green bond and corporate environmental investment: The moderating effect of environmental concern	173
Value creation or political trick? An event study on anti-ESG regulations	171

Green gains: The impact of REITs' environmental performance on sustainability-linked loan interest rates	170
Development of corporate artificial intelligence and the quality of export products	168
Community activism, Social ties and ESG campaign success	165
Rescue one and sacrifice others? Corporate tunneling phenomenon under China's new delisting regulations	162
Evaluation of the operational efficiency of internal capital markets in state-owned enterprises using big data	158
Corporate social anti-activism and firm stock price: Evidence from DEI program elimination	156
How good are LLMs in risk profiling?	152
A look across the big pond and into the abyss — Performance of earnout deals in Europe and in times of crisis	150
Social governance, financial regulation, and corporate investment efficiency	144
Detecting exuberance phenomena in thematic investing	144
How green screening influences risk transmission among stock-bond indices: Insight into the dependence structure	143
Impacts of gender inequality on international trade and innovation	143
Correlation among climate risk, climate policy uncertainty, and carbon-intensive stock markets in China	141
The impact of green investment policies on the development of new energy enterprises: Analysis based on heterogeneity and threshold effects	140
Stepping forward with ease: Government debt governance as a catalyst for entrepreneurship	139
Does smart transformation in manufacturing promote enterprise value chain upgrades?	138
Banks’ ESG disclosure: A new scoring model	138
Exploring the effect of VAT carryforward and refund policy on enhancing innovation efficiency among China's A-share listed firms	138
Bankruptcy court establishment and corporate risk-taking	137
Fintech, financial regulation and corporate financialization: Evidence from China	136
Focus on the impact and predictive analysis of digitalization and green finance on the transformation of mineral and energy companies	135
Impact of SciTech – Finance integration policy implementation on SME innovation performance: Mediating effect of tax burden	134
The impact of economic policy uncertainty on IPO underpricing: Evidence from China	133
Digital transformation and corporates' green technology innovation performance–The mediating role of knowledge sharing	132
Does tax policy affect corporate environmental investment?	129
The impact of inclusive finance and education investment on new quality productivity: The nonlinear mediating effect of education development	127
Corporate social responsibility and credit risk	126
Which are the factors influencing green bonds issuance? Evidence from the European bonds market	125
Why Was There More Household Stock Market Participation During the COVID-19 Pandemic?	125
How green finance drives new-quality productivity from the perspective of Chinese modernization	122
Does exposure to biodiversity risk drive firms’ digital transformation?	122
Does corporate social responsibility affect the performance of cross-border M&A of emerging market multinationals?	121
How digital transformation affects bank risk: Evidence from listed Chinese banks	121
Digital economy policy and corporate low-carbon innovation: Evidence from a quasi-natural experiment in China	119
How Russian-Ukrainian geopolitical risks affect Chinese commodity and financial markets?	119
Cryptocurrencies and the threat versus the act event of geopolitical risk	117
Does ESG performance improve firm creditworthiness?	117
Effects of enterprise viability on corporate green innovation performance	114
Invest in depth or breadth? The influence of multidisciplinary practices on the valuation and legitimation of living artists	112
Firm financialization: The role of policy inconsistency	112
Do investors herd under global crises? A comparative study between Chinese and the United States stock markets	111
Price discovery share: An order invariant measure of price discovery	110
Executive financial background, external audit quality and shadow banking in non-financial firms	109
Media sentiment and corporate R&D manipulation	108
Interconnected dynamics of sustainable cryptocurrencies: Insights from transfer entropy analysis	107
Credit availability, overinvestment, and corporate innovation capability	104
Inspection supervision and corporate green total factor productivity	103
Financial institution agglomeration and corporate labor allocation efficiency—Based on the context of government debt expansion	103
How the Economic Policy Uncertainty (EPU) impacts FinTech: The implication of P2P lending markets	102
Media attention, information asymmetry and agribusiness ESG rating divergence	102

Executives' overseas backgrounds and green innovation in manufacturing enterprises	102
Human capital and corporate social investment: The effect of public policy	101
Belt and Road Initiative: Driving innovation in tech enterprises through global value chains	101
The equity market response to climate change litigation	97
Small price bias in the cryptocurrency market. A cognitive bias revealed by emotions on social networks	96
Environmental policies on the systematic risk of critical metals companies	96
A complementary valuation model and exit multiples	95
Financial market reaction to the end of the right-wing populist government: The case of Poland	95
Option pricing with a two-piece lognormal distribution	95
Legal background of corporate management and corporate audit quality	95
An analysis of how work stress affects employees' proactive work behavior: The moderating role of corporate financial support	95
ESG ratings and female corporate leadership: Evidence from African firms	94
Management equity incentives, market dynamics, and corporate R&D investment	94
Recurrent neural network based parameter estimation of Hawkes model on high-frequency financial data	93
Transmission effects of real estate risk on municipal bond spreads	92
Soybean futures responses to meteorological disaster risk —— Empirical evidence from the Chicago board of trade	91
Institutional investors' site visits and ESG disclosure: The mediating role of environmental legitimacy pressure	90
Unconventional, conventional monetary policies, and optimal energy supply structure in China	90
Management buyouts in times of economic policy uncertainty	89
Learning about unprecedented events: Agent-based modelling and the stock market impact of COVID-19	89
The closed-form approximation to price basket options under stochastic interest rate	88
How do Equity Investors Assess the Efficiency of Global Financial Institutions?	88
Futures, provisional sales, and earnings management in the global gold mining industry	87
Are gross financial inflows expansionary or contractionary? Evidence from emerging economies	87
Crises and changes: The impacts of CSR expenditure on loan and subsidy allocation in China's Pre- and Post-Pandemic periods	87
Community resilience and house prices: A machine learning approach	86
Does customer concentration affect corporate risk-taking? Evidence from China	85
Market reactions to layoff announcements during crises: Examining impacts and conditioners	84
Modelling taxpayers’ behaviour based on prediction of trust using sentiment analysis	83
Foreign equity lookback options with guarantees	82
Historical Determinants of Fintech Development: Evidence from Initial Coin Offerings	81
Regional social capital and stock price crash risk: Evidence from the US	81
Effects of China’s capital controls on individual asset categories	80
Tax Authority Enforcement and Corporate Social Security Contributions: Evidence from China	80
Correlation impulse response functions	79
Political appointees and firms’ long-term capital market performance: Evidence from Central European countries	79
Does individual SREP results reveal real news?	79
Exploring the time-varying dependence between Bitcoin and the global stock market: Evidence from a TVP-VAR approach	78
Demographic change and natural interest rate of China	78
Peer digitalization and corporate investment decision	77
Editorial Board	77
Bank efficiency and undesirable output: An analysis of non-performing loans in the Brazilian banking sector	77
Cryptocurrency market efficiency in short- and long-term horizons during COVID-19: An asymmetric multifractal analysis approach	76
Digital transformation and labour investment efficiency: Heterogeneity across the enterprise life cycle	76
Does the introduction of CSR criteria into CEO incentive pay reduce their earnings management? The case of companies listed in the SBF 120	76
Using machine learning Meta-Classifiers to detect financial frauds	75
Infection, invasion, and inflation: Recent lessons	75
The Return and Volatility Connectedness of NFT Segments and Media Coverage: Fresh Evidence Based on News About the COVID-19 Pandemic	75
Remarks on the behaviour of financial market efficiency during the COVID-19 pandemic. The case of VIX	75
Do local innovation systems promote successful equity crowdfunding campaigns? Evidence from Italy	75
Brand equity and the Covid-19 stock market crash: Evidence from U.S. listed firms	74
Does war spread the herding effect in stock markets? Evidence from emerging and developed markets during the Russia-Ukraine war	74
Strategic IPO timing of technology innovation-driven enterprises: A differential game analysis of market returns, disclosure costs, and industry dynamics	74
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	73
Is it all about noise? Investor sentiment and risk nexus: evidence from China	73
Macroprudential policies, national culture, and bank systemic risk: A cross-country comparison	72
Can prospect theory explain anomalies in the Chinese stock market?	72
The Trilogy of Ownership, Income Diversification, and Performance Nexus: Empirical Evidence from Tunisian Banks	71
Institutional investor stability, executive equity incentives, and corporate innovation	71
To green or not to green: The influence of board characteristics on carbon emissions	71
Risk contagion between commodity and China's stock markets under the impact of major events	70
Corporate credit risk and bond yield spreads: Market reactions to the spreads	70
SFDR Article 9: Is it all about impact?	70
Comparative Analysis of Precious Metals as Hedges for Clean Energy Stocks	70
Risk disclosure and stock price crash risk: Evidence from Chinese listed firms	70
Capital market openness and bank credit risk: Evidence from listed commercial banks	70
Manual task intensity and male-female wage gap: Evidence from China	69
International tax incentives, cross-border research and development, and corporate innovation performance	69
The impact of North Korean nuclear threat on stock market linkages in Northeast Asia: The case of South Korea, China, and Japan	69
The impact of digital transformation on firm productivity: From the perspective of sustainable development	69
Carbon prices and green bond markets: Global insights from quantile connectedness	68
Firm-level perception of competition and innovation: Textual evidence from China	68
A novel approach to sustainable mean-variance portfolio optimization: Accounting for ESG-related uncertainty	68
Sentiment changes and the Monday effect	68
An economic definition of ‘Fear of Missing Out’ (FOMO)	68
FinTech literature reviews: A hybrid approach	68
Does peer-to-peer crowdfunding boost refugee entrepreneurs?	67
Is it a matter of governance or judicial favoritism? Legal expertise at an executive level and its use in cases of corporate financial fraud	66
Climate, geopolitical, and energy market risk interconnectedness: Evidence from a new climate risk index	66
Does gambling culture affect firms’ investment efficiency?	65

The impact of the Russia-Ukraine conflict on market efficiency: Evidence for the developed stock market	65
Limit Order Book dynamics and order size modelling using Compound Hawkes Process	65
Institutional investor networks and crash risk: Evidence from China	65
Prediction of market value of firms with corporate sustainability performance data using machine learning models	64
The role of gender in sales behaviour: Evidence from institutional financial brokerage	64
Coexistence of Bitcoin, fiat money, and risk-free bonds	64
Impact of ownership structure on corporate social responsibility investment: The mediating role of analyst coverage	63
Government accounting supervision and risk of stock price crashes of listed companies: Evidence from the ministry of finance in China	63
Can blockchain smart contracts improve the operational efficiency of green supply chain emission reduction technologies?	63
Climate risk perception, female directors and greenwashing	63
Impact of enterprise artificial intelligence development on human capital structure	63
The value of diversification: ESG and investment in controversial industries	63
Editorial Board	63
Female board representation and firm value: International evidence	63
Bank connectedness and excessive risk-taking: Some cross-country evidence	63
The dark side of innovation policy uncertainty	62
ESG performance and investment-financing maturity mismatch: Evidence from Chinese A-share listed companies	62
The impact of ESG performance on firm value in the Chinese market	62
Digital economy and high-quality agricultural development	62
The impact of top management team leadership on corporate investment behavior: An analysis of the moderating effect of annual report sentiment	61
Marketing investment, financing constraints, and e-commerce firm value	61
Fee structure and equity fund manager’s ability screening	61
Board composition and climate strategy: the role of governance in internal carbon pricing adoption	60
Editorial Board	60
Tracking customer risk aversion	60
Do other firms’ stock price crashes affect corporate investment decisions within the business group: Evidence from Korean Chaebols	60
Digital transformation and enterprise external pay gap: Internal mechanism and empirical evidence	60
Investigation into smart behavior monitoring and workforce allocation optimization of frontline bank staff for financial risk control	60
Analysis of the impact of bank digitization process on liquidity creation and risk-taking	59
Is the business cycle getting hit by climate policy uncertainty in China?	59
Local government debt and household human capital investment	59
The cross section of information transmission in news media and stock returns	59
Bank credit in the digital age: Expansion or excessive expansion?	59
Forecasting volatility in commodity markets with climate risk	58
Who really cares? Climate change exposure and auditor conservatism: Evidence from China	58
The effect of financial advisor reputation on mergers and acquisitions performance	58
How do enterprise big data applications mitigate asset mispricing?	58
Cocoon breaking: A dual-path exploration of occupational stigma in China’s insurance industry using grounded theory and structural equation model verification	57
Digital finance, managerial ability, and corporate financing costs	57
Marketing investment, financial leverage, and corporate investment efficiency	57
Biodiversity risk and value creation in emerging markets	57
Environmental preferences, administrative penalties, and green innovation	57
Rhetoric vs. Reality: Unauthorized immigration and housing rents	57
Let’s have a party! - Temporal landmarks and firm behaviour: How corporate anniversaries influence managerial decisions	56
Cross-country spillovers of trade uncertainty and their formation mechanisms	56
Big data development, accounting information quality, and corporate innovation	56
Are managerial cognitive biases priced in Japan? Evidence from cross-sectional portfolio returns	56
How does digital asset allocation affect accounting information quality? A perspective from corporate profitability and ownership	56
Research on the impact of industrial policy on corporate financialization	56
Green credit and environmental protection investment for the high-quality development of the tourism industry	56
Digital inclusive finance, intellectual property protection, and corporate carbon emission reduction	56
Digital finance and agricultural green total factor productivity: the mediating role of digital village development	56
Seeking common ground: CSR conformity and stock liquidity	55
Income volatility and household commercial insurance allocation	55
Digital transformation and corporate creditworthiness	55
ESG performance and financial distress prediction of energy enterprises	55
Impact of digital economy on upgrading of industrial structure: From the financial development perspective	55
Does sovereign ESG shape corporate cash management in emerging markets?	55
Financial technology development, regional marketization, and the effectiveness of criminal investigation cases	55
Social trust and health outcomes: A theoretical and empirical analysis with income interactions using Chinese microdata	54
Panacea for M&A dealmaking? Investor perceptions of earnouts	54
How bank FinTech facilitates firm-level new quality productive forces	54
Corporate financialization and litigation risk	54
Spillover among biodiversity attention, climate policy uncertainty and global stock markets	54
How does local government debt governance affect corporate credit mismatches? Evidence from implementing the New Budget Law	53
Local gambling preferences and insider trading profits: Evidence from China	53
Dynamic tail risk connectedness among green REITs, sustainability products, and fossil energy assets under external shocks	53
Fiscal decentralization and urban-rural inequality of income acquisition opportunities: Micro evidence from China	53
The unintended interaction effect of monetary and macroprudential policies: Evidence from China’s bank-level data	53
Addressing climate challenges through ESG-real estate investment strategies: An asset allocation perspective	53
Changes in stock price synchronicity driven by digital transformation: The role of media attention and accounting conservatism	53
How higher education affects corporate human capital investment: Based on Upper Echelons Theory	53
Financial market connectedness: The role of investors’ happiness	53
The economic value of NFT: Evidence from a portfolio analysis using mean–variance framework	52
Research on antecedent configurations of enterprise digital transformation and enterprise performance from the perspective of dynamic capability	52
Information sharing among cryptocurrencies: Evidence from mutual information and approximate entropy during COVID-19	52
Stock return predictability in China: Power of oil price trend	52
An empirical study of risk diffusion in the cryptocurrency market based on the network analysis	52
The effectiveness of macro-prudential policies in the face of global uncertainty –the role of exchange-rate regimes	52
Where does corporate social capital matter the most? Evidence From the COVID-19 crisis	52
Digital transformation and bond credit spread	52
Geopolitical risk and the Saudi stock market: Evidence from a new wavelet packet multiresolution cross-causality	51
Price limit change and magnet effect: The role of investor attention	51
Macrofinancial information on the post-COVID-19 economic recovery: Will it be V, U or L-shaped?	51
CEO gender and the probability that firms go public	51
Credit corruption, financial constraint and corporate innovation: Evidence on China	51
The Power of the Imperial Envoy: The Impact of Central Government Onsite Environmental Supervision Policy on Corporate Green Innovation	51
Environmental regulation and firms' trans-regional investment: Evidence from the implementation of the New Environmental Protection Law	50
Media coverage and corporate green innovation	50
ESG performance and investment efficiency	50
Can Bitcoin Investors Profit from Predictions by Crypto Experts?	50
Overconfidence and US stock market returns	50
Narcissistic leaders do not share! The relationship between top managers' narcissism and the distribution of value added	50
Once bitten, twice bold? Early life tragedy and central bankers’ reaction to COVID-19	49
Market reaction to analyst forecasts by analysts with familyship: Evidence from South Korea	49