OOIR: Observatory of International Research

Papers

(The TQCC of Finance Research Letters is 9. The table below lists those papers that are above that threshold based on CrossRef citation counts [max. 250 papers]. The publications cover those that have been published in the past four years, i.e., from 2020-05-01 to 2024-05-01.)

Article	Citations
Financial markets under the global pandemic of COVID-19	1333
COVID-19 and finance: Agendas for future research	911
The contagion effects of the COVID-19 pandemic: Evidence from gold and cryptocurrencies	542
The role of ESG performance during times of financial crisis: Evidence from COVID-19 in China	524
Safe haven or risky hazard? Bitcoin during the Covid-19 bear market	491
Financial contagion during COVID–19 crisis	463
COVID-19 and the march 2020 stock market crash. Evidence from S&P1500	434
The impact of COVID-19 on emerging stock markets	413
Infected Markets: Novel Coronavirus, Government Interventions, and Stock Return Volatility around the Globe	386
COVID-19 and stock market volatility: An industry level analysis	297
COVID-19 and the United States financial markets’ volatility	293
Does financial inclusion impact CO2 emissions? Evidence from Asia	285
Co-movement of COVID-19 and Bitcoin: Evidence from wavelet coherence analysis	268
Heterogeneous impacts of wars on global equity markets: Evidence from the invasion of Ukraine	251
Deaths, panic, lockdowns and US equity markets: The case of COVID-19 pandemic	232
COVID-19 lockdowns, stimulus packages, travel bans, and stock returns	225
The impact of the Russia-Ukraine conflict on the connectedness of financial markets	197
Does ESG certification add firm value?	194
Time-frequency comovement among green bonds, stocks, commodities, clean energy, and conventional bonds	191
COVID-19’s disasters are perilous than Global Financial Crisis: A rumor or fact?	191
Asymmetric dependence between stock market returns and news during COVID-19 financial turmoil	190
Stock markets and the COVID-19 fractal contagion effects	178
Developing Low Carbon Finance Index: Evidence From Developed and Developing Economies	177
How the cryptocurrency market has performed during COVID 19? A multifractal analysis	177
ChatGPT for (Finance) research: The Bananarama Conjecture	163

Does the digital transformation of enterprises affect stock price crash risk?	162
Did Congress trade ahead? Considering the reaction of US industries to COVID-19	156
Freedom and stock market performance during Covid-19 outbreak	154
Trade openness and economic growth quality of China: Empirical analysis using ARDL model	154
Is non-fungible token pricing driven by cryptocurrencies?	150
Systemic risk: The impact of COVID-19	149
Price reaction, volatility timing and funds’ performance during Covid-19	147
Market reactions to the arrival and containment of COVID-19: An event study	145
Safe haven in GFC versus COVID-19: 100 turbulent days in the financial markets	142
Covid-19 and Optimal Portfolio Selection for Investment in Sustainable Development Goals	140
The cryptocurrency uncertainty index	140
The bubble contagion effect of COVID-19 outbreak: Evidence from crude oil and gold markets	140
Examining the interrelatedness of NFTs, DeFi tokens and cryptocurrencies	139
Banking goes digital: The adoption of FinTech services by German households	134
The role of financial deepening and green technology on carbon emissions: Evidence from major OECD economies	132
Geopolitical risk and the systemic risk in the commodity markets under the war in Ukraine	132
Fear of the coronavirus and the stock markets	131
Are Bitcoin and Ethereum safe-havens for stocks during the COVID-19 pandemic?	127
How does investor attention influence the green bond market?	126
Can financial inclusion be an effective mitigation measure? evidence from panel data analysis of the environmental Kuznets curve	124
Green finance and decarbonization: Evidence from around the world	122
Infectious disease pandemic and permanent volatility of international stock markets: A long-term perspective	122
ESG rating and stock price crash risk: Evidence from China	119
Trust and stock market volatility during the COVID-19 crisis	114
Do Asian emerging stock markets react to international economic policy uncertainty and geopolitical risk alike? A quantile regression approach	113
Climate policy uncertainty and the price dynamics of green and brown energy stocks	111
The effect of fintech on banks’ credit provision to SMEs: Evidence from China	110
Impacts of the COVID-19 pandemic on financial market connectedness	109
Aye Corona! The contagion effects of being named Corona during the COVID-19 pandemic	108
Fertile LAND: Pricing non-fungible tokens	106
NFTs and asset class spillovers: Lessons from the period around the COVID-19 pandemic	104
The Russia-Ukraine conflict and volatility risk of commodity markets	104
COVID–19 media coverage and ESG leader indices	104
Industry volatility and economic uncertainty due to the COVID-19 pandemic: Evidence from wavelet coherence analysis	102
Does digital transformation matter for corporate risk-taking?	102
Corporate social responsibility (CSR) performance and green innovation: Evidence from China	100
Impact of economic policy uncertainty shocks on China's financial conditions	99
Stock market returns, volatility, correlation and liquidity during the COVID-19 crisis: Evidence from the Markov switching approach	98
A crypto safe haven against Bitcoin	97
The impact of investor attention during COVID-19 on investment in clean energy versus fossil fuel firms	97
The new crypto niche: NFTs, play-to-earn, and metaverse tokens	96
Stock Return and the COVID-19 pandemic: Evidence from Canada and the US	94
Asymmetric relationship between green bonds and commodities: Evidence from extreme quantile approach	94
COVID−19 and oil price risk exposure	94
COVID-19 and investor behavior	93
Evaluation of China's carbon emission trading policy from corporate innovation	93
The influence of Bitcoin on portfolio diversification and design	92
Economic policy uncertainty and cryptocurrency volatility	92
Bitcoin volatility, stock market and investor sentiment. Are they connected?	91
Stock markets’ reaction to Covid-19: Moderating role of national culture	91

The effect of political and economic uncertainty on the cryptocurrency market	91
How does economic policy uncertainty affect corporate risk-taking? Evidence from China	91
Reconsidering systematic factors during the Covid-19 pandemic – The rising importance of ESG	89
Corporate social responsibility and firm value: Guiding through economic policy uncertainty	88
The impact of the Russia-Ukraine conflict on energy firms: A capital market perspective	88
CSR and idiosyncratic risk: Evidence from ESG information disclosure	88
Digital finance and corporate ESG	87
The impact of COVID-19 on the degree of dependence and structure of risk-return relationship: A quantile regression approach	86
The COVID-19 outbreak and stock market reactions: Evidence from Australia	86
Russia–Ukraine war and systemic risk: Who is taking the heat?	85
Determinants of Spillovers between Islamic and Conventional Financial Markets: Exploring the Safe Haven Assets during the COVID-19 Pandemic	85
Investigating solutions for the development of a green bond market: Evidence from analytic hierarchy process	85
Does Bitcoin hedge crude oil implied volatility and structural shocks? A comparison with gold, commodity and the US Dollar	84
Does geopolitical risk matter for global asset returns? Evidence from quantile-on-quantile regression	84
International stock market risk contagion during the COVID-19 pandemic	83
The rise of digital finance: Financial inclusion or debt trap?	83
Financial performance shortfall, ESG controversies, and ESG performance: Evidence from firms around the world	82
Causality of geopolitical risk on food prices: Considering the Russo–Ukrainian conflict	80
A bibliometric review of finance bibliometric papers	79
Corporate decisions in times of war: Evidence from the Russia-Ukraine conflict	78
The impact of COVID-19 on the Chinese stock market: Sentimental or substantial?	78
Volatility Spillovers between Stock and Energy Markets during Crises: A Comparative Assessment between the 2008 Global Financial Crisis and the Covid-19 Pandemic Crisis	78
Covid-19 pandemic and tail-dependency networks of financial assets	77
Efficiency in the markets of crypto-currencies	77
Environmental regulation and green innovation: Evidence from China's carbon emissions trading policy	76
COVID-19 and safer investment bets	76
How does the fintech sector react to signals from central bank digital currencies?	74
Forecasting realized gold volatility: Is there a role of geopolitical risks?	74
The relationship between the economic policy uncertainty and the cryptocurrency market	73
COVID-19 and financial market efficiency: Evidence from an entropy-based analysis	73
Covid-19 impact on NFTs and major asset classes interrelations: Insights from the wavelet coherence analysis	72
Understanding digital bubbles amidst the COVID-19 pandemic: Evidence from DeFi and NFTs	72
Forecasting directional movements of stock prices for intraday trading using LSTM and random forests	71
Who raised from the abyss? A comparison between cryptocurrency and stock market dynamics during the COVID-19 pandemic	71
The Russo-Ukrainian war and financial markets: the role of dependence on Russian commodities	71
Trading from home: The impact of COVID-19 on trading volume around the world	70
The impact of digital inclusive finance on sustainable economic growth in China	70
The impact of COVID-19 on housing price: Evidence from China	70
Asymmetric volatility in cryptocurrency markets: New evidence from smooth transition GARCH models	69
Flight-to-quality between global stock and bond markets in the COVID era	68
Do Banks Value Green Management in China? The Perspective of the Green Credit Policy	68
A three-factor pricing model for cryptocurrencies	68
Impact of Russia-Ukraine war attention on cryptocurrency: Evidence from quantile dependence analysis	67
Green finance reform and corporate innovation: Evidence from China	65
Testing the safe-haven properties of gold and bitcoin in the backdrop of COVID-19: A wavelet quantile correlation approach	65
The international spread of COVID-19 stock market collapses	65
Corporate social responsibility, financial instability and corporate financial performance: Linear, non-linear and spillover effects – The case of the CAC 40 companies	65
ESG ETFs and the COVID-19 stock market crash of 2020: Did clean funds fare better?	64
Breaking barriers to innovation: The power of digital transformation	64
The profitability of technical trading rules in the Bitcoin market	63
The impact of government intervention on corporate environmental performance: Evidence from China's national civilized city award	63
Trust and financial inclusion: A cross-country study	62
COVID-19 effect on herding behaviour in European capital markets	61
Forecasting the price of Bitcoin using deep learning	61
Global financial crisis and COVID-19: Industrial reactions	61
Is Bitcoin really more than a diversifier? A pre- and post-COVID-19 analysis	61
How do stock, oil, and economic policy uncertainty influence the green bond market?	61
Environmental regulation and foreign direct investment: Evidence from China's outward FDI	61
Asymmetric effects of climate policy uncertainty, infectious diseases-related uncertainty, crude oil volatility, and geopolitical risks on green bond prices	61
The role of the IDEMV in predicting European stock market volatility during the COVID-19 pandemic	60
Empirical test of the impact of the digital economy on China's employment structure	59
When ESG meets AAA: The effect of ESG rating changes on stock returns	59
Quantifying the spillover effect in the cryptocurrency market	59
Bitcoin: An inflation hedge but not a safe haven	58
Audit committee structure, institutional quality, and bank stability: evidence from ASEAN countries	58
Impacts of COVID-19 outbreak on the spillovers between US and Chinese stock sectors	58
Sustainable banking: A literature review and integrative framework	58
Systemic risk-sharing framework of cryptocurrencies in the COVID–19 crisis	57
Can economic policy uncertainty predict exchange rate volatility? New evidence from the GARCH-MIDAS model	57
Do large firms just talk corporate social responsibility? - The evidence from CSR report disclosure	57
The effect of revenue diversification on bank profitability and risk during the COVID-19 pandemic	57
A new approach for addressing endogeneity issues in the relationship between corporate social responsibility and corporate financial performance	57
More sustainable, more productive: Evidence from ESG ratings and total factor productivity among listed Chinese firms	57
What caused global stock market meltdown during the COVID pandemic–Lockdown stringency or investor panic?	57
The impact of Covid-19 on liquidity of emerging market bonds	57
The only certainty is uncertainty: An analysis of the impact of COVID-19 uncertainty on regional stock markets	56
Corruption in banks: A bibliometric review and agenda	55
Competition and ESG practices in emerging markets: Evidence from a difference-in-differences model	55
Digital transformation and firm cost stickiness: Evidence from China	55
Hedging Geopolitical Risks with Different Asset Classes: A Focus on the Russian Invasion of Ukraine	55

Connectedness of stock markets with gold and oil: New evidence from COVID-19 pandemic	55
COVID-19 pandemic improves market signals of cryptocurrencies–evidence from Bitcoin, Bitcoin Cash, Ethereum, and Litecoin	54
The economic value of NFT: Evidence from a portfolio analysis using mean–variance framework	54
Tail-risk spillovers in cryptocurrency markets	54
Does responsible investing pay during economic downturns: Evidence from the COVID-19 pandemic	54
The influence of stablecoin issuances on cryptocurrency markets	54
Volatility and return connectedness of cryptocurrency, gold, and uncertainty: Evidence from the cryptocurrency uncertainty indices	53
Low-carbon financial risk factor correlation in the belt and road PPP project	53
Fintech-based Financial Inclusion and Risk-taking of Microfinance Institutions (MFIs): Evidence from Sub-Saharan Africa	53
The impacts of the COVID-19 pandemic on China's green bond market	53
How does CSR mediate the relationship between culture, religiosity and firm performance?	52
Predicting Bitcoin returns: Comparing the roles of newspaper- and internet search-based measures of uncertainty	52
The development of Bitcoin futures: Exploring the interactions between cryptocurrency derivatives	52
Cryptocurrency liquidity and volatility interrelationships during the COVID-19 pandemic	51
Transitions in the cryptocurrency market during the COVID-19 pandemic: A network analysis	51
Role of financial development for sustainable economic development in low middle income countries	51
The stock price reaction of the COVID-19 pandemic on the airline, hotel, and tourism industries	50
Does investor sentiment on social media provide robust information for Bitcoin returns predictability?	50
Can CBOE gold and silver implied volatility help to forecast gold futures volatility in China? Evidence based on HAR and Ridge regression models	50
Does financial structure affect CO2 emissions? Evidence from G20 countries	49
Intraday efficiency-frequency nexus in the cryptocurrency markets	49
Is Corporate Social Responsibility investing a free lunch? The relationship between ESG, tail risk, and upside potential of stocks before and during the COVID-19 crisis	49
The impact of the consistency of carbon performance and carbon information disclosure on enterprise value	49
Cryptocurrency market efficiency in short- and long-term horizons during COVID-19: An asymmetric multifractal analysis approach	49
Firm-specific investor sentiment and stock price crash risk	48
ESG and Firm's Default Risk	48
Futures market and the contagion effect of COVID-19 syndrome	48
The impact of the Russia-Ukraine conflict on market efficiency: Evidence for the developed stock market	48
Greenwashing and product market competition	48
The correlation between the stock market and Bitcoin during COVID-19 and other uncertainty periods	48
Anatomy of a Stablecoin’s failure: The Terra-Luna case	48
Does economic policy uncertainty influence executive risk-taking incentives?	47
Disclosure or action: Evaluating ESG behavior towards financial performance	47
Stock market reactions to COVID-19 lockdown: A global analysis	47
Volatility in International Sovereign Bond Markets: The role of government policy responses to the COVID-19 pandemic	47
Term spreads and the COVID-19 pandemic: Evidence from international sovereign bond markets	47
COVID-19 pandemic waves and global financial markets: Evidence from wavelet coherence analysis	46
How does the development of digital financial inclusion affect the total factor productivity of listed companies? Evidence from China	46
Investigating the marginal impact of ESG results on corporate financial performance	46
Cheap talk and cherry-picking: What ClimateBert has to say on corporate climate risk disclosures	46
Asymmetric effects of geopolitical risk on major currencies: Russia-Ukraine tensions	46
Geopolitical risk and bank stability	46
Corporate social performance and financial performance relationship: A data envelopment analysis approach without explicit input	45
Does broadband infrastructure boost firm productivity? Evidence from a quasi-natural experiment in China	45
The impact of the COVID-19 pandemic on dividends	45
The role of investor attention in predicting stock prices: The long short-term memory networks perspective	45
FinTech and financial stability: Threat or opportunity?	44
How has the relationship between oil and the US stock market changed after the Covid-19 crisis?	44
Economic policy uncertainty and exchange rates in emerging markets: Short and long runs evidence	44
Inefficient investment and digital transformation: What is the role of financing constraints?	44
Green Commitment and Stock Price Crash Risk	43
COVID-19: Fear of pandemic and short-term IPO performance	43
Economic policy uncertainty and non-performing loans: The moderating role of bank concentration	42
The unprecedented reaction of equity and commodity markets to COVID-19	42
Calendar effects in Bitcoin returns and volatility	42
Extreme tail network analysis of cryptocurrencies and trading strategies	41
Google search volumes and the financial markets during the COVID-19 outbreak	41
How did retail investors respond to the COVID-19 pandemic? The effect of Robinhood brokerage customers on market quality	41
Herding behavior in conventional cryptocurrency market, non-fungible tokens, and DeFi assets.	41
Policy uncertainty and carbon neutrality: Evidence from China	41
Can internet finance alleviate the exclusiveness of traditional finance? evidence from Chinese P2P lending markets	40
Exploring the hedge and safe haven properties of cryptocurrency in policy uncertainty	40
ESG fund scores in UK SRI and conventional pension funds: Are the ESG concerns of the SRI niche affecting the conventional mainstream?	40
Time-frequency volatility spillovers between major international financial markets during the COVID-19 pandemic	40
Price explosiveness in cryptocurrencies and Elon Musk's tweets	40
Gold, bonds, and epidemics: A safe haven study	39
Spillover effects of RMB exchange rate among B&R countries: Before and during COVID-19 event	39
Do precious metals act as hedges or safe havens for China's financial markets?	39
Corporate governance and financial reporting quality during the COVID-19 pandemic	39
The reputational contagion effects of ransomware attacks	39
Extreme risk spillover between chinese and global crude oil futures	38
Is cash the panacea of the COVID-19 pandemic: Evidence from corporate performance	38
Financial services, spatial agglomeration, and the quality of urban economic growth–based on an empirical analysis of 268 cities in China	38
Investor attention and bitcoin liquidity: Evidence from bitcoin tweets	38
Cryptocurrency returns and the volatility of liquidity	38
Customer relationships, corporate social responsibility, and stock price reaction: Lessons from China during health crisis times	38
Learning from SARS: Return and volatility connectedness in COVID-19	38
Asymmetric relationship between climate policy uncertainty and energy metals: Evidence from cross-quantilogram	38
Understanding Bitcoin liquidity	38
The asymmetric effect of bitcoin on altcoins: evidence from the nonlinear autoregressive distributed lag (NARDL) model	38
Corporate social responsibility, enterprise risk management, and real earnings management: Evidence from managerial confidence	38
What drives DeFi prices? Investigating the effects of investor attention	37
Asymmetric dynamic spillover effect between cryptocurrency and China's financial market: Evidence from TVP-VAR based connectedness approach	37
Institutional ownership heterogeneity and ESG performance: Evidence from China	36
Can bonds hedge stock market risks? Green bonds vs conventional bonds	36
Responses of US equity market sectors to the Silicon Valley Bank implosion	36
Stock market oscillations during the corona crash: The role of fear and uncertainty	36
Corporate environmental governance scheme and investment efficiency over the course of COVID-19	36
Volatility spillovers between stock, bond, oil, and gold with portfolio implications: Evidence from China	36
Does Fintech credit substitute for traditional credit? Evidence from 78 countries	36
Environmental performance and firm financing during COVID-19 outbreaks: Evidence from SMEs	36
The pricing efficiency of crude oil futures in the Shanghai International Exchange	35
Corporate site visits, private monitoring and fraud: Evidence from China	35
An empirical evaluation of the influential nodes for stock market network: Chinese A-shares case	35
Patterns of Spillover in Energy, Agricultural, and Metal Markets: A Connectedness Analysis for Years 1780-2020	35