International Review of Financial Analysis

Article	Citations
Foundation-controlled firms and CEO compensation	813
Multinational corporations and share pledging of the controlling shareholder	598
Information connectedness of international crude oil futures: Evidence from SC, WTI, and Brent	544
CEO war trauma and corporate tax avoidance	536
Does corporate culture impact tax shelter? A machine learning approach	362
Digital technology penetration and supply chain resilience improvement: Enterprise innovation strategies in the digital age	350
Heterogeneous impacts of climate change news on China's financial markets	293
The effects of overnight events on daytime trading sessions	284
Strategy choices in strategic risk-taking: Does climate risk matter?	267
Does the connectedness among fossil energy returns matter for renewable energy stock returns? Fresh insights from the Cross-Quantilogram analysis	220
Government open data and corporate supply chain concentration	214
University shareholding and corporate innovation: Evidence from China	199
Concealment and detection: The influence of management tone on analyst forecast revisions	198
In government-supported academic institutions we trust: Enterprise postdoctoral programmes and stock liquidity	189
Corrigendum to “Specialization in bank lending and firm deleveraging: Evidence from China” [International Review of Financial Analysis; Volume103 (2025) Start page–End page/Article Number 104188]	188
The effect of creditor judicial protection on trade credit in supply chains: Evidence from the establishment of bankruptcy courts in China	183
Which is more important in stock market forecasting: Attention or sentiment?	179
Tax incentives, supply chain spillovers, and enterprise technological innovation	179
Climate risk and bank liquidity creation: International evidence	171
The contagion effect of natural disasters in the Sovereign CDS market: Which causes?	170
Supply chain financing, digital financial inclusion and enterprise innovation: Evidence from China	165
Impact and moderating mechanism of corporate tax avoidance on firm value from the perspective of corporate governance	165
Greening the future: How green manufacturing shapes corporate environmental and ESG success	163
Financial flexibility, firm performance, and financial distress: A comparative study of China and the U.S. during pandemics	163
Supply chain finance digitalization and corporate risk-taking: Evidence from China	163

Can digital inclusive finance narrow the internal and external wage gaps in enterprises?	160
Does geopolitical risk affect firms' idiosyncratic volatility? Evidence from China	159
Corporate social irresponsibility: The relationship between ESG misconduct and the cost of equity	159
Attention to biodiversity and stock returns	158
Transforming banking: Examining the role of AI technology innovation in boosting banks financial performance	158
2024 U.S. presidential elections: An event study for U.S. and non-U.S. fossil fuel and renewable listed firms	158
Sustainability indices nexus: Green economy, ESG, environment and clean energy	155
Retracted: Towards sustainable development: How does ESG performance promotes corporate green transformation	154
Stock and sovereign returns linkages: Time-varying causality and extreme-quantile determinants	150
Predicting equity premium out-of-sample by conditioning on newspaper-based uncertainty measures: A comparative study	149
How active is your (nominally) actively managed quantitative fund?	149
Risk factors disclosure and corporate philanthropy	141
The power of religion: Islamic investing in the lab	136
Asset redeployability and firm value amidst the COVID-19 pandemic: A real options perspective	133
Bank affiliation and mutual funds’ trading strategy distinctiveness	132
A conditional higher-moment CAPM	131
Does information transmission alleviate the salience bias of fund managers?	127
Speaking business: A systematic literature review of linguistic structures and financial reporting behavior	127
Should Basel-style liquidity requirements be set countercyclically? Evidence from a numerical analysis	127
Energy commodity spillovers and herding behavior: Evidence from EU ETS-listed firms	125
Sequential questioning and structured responses: Enhancing the information effectiveness of corporate site visits	124
Fund trading divergence and performance contribution	123
Cybersecurity and executive compensation: Can inside debt-induced risk aversion improve cyber risk management effectiveness?	122
Chaos, overfitting and equilibrium: To what extent can machine learning beat the financial market?	118
Financial agglomeration, enterprise structural upgrading, and economic growth disparities	116
Breaking the green investment dilemma of heavily polluting firms: Evidence from carbon market trading through the Lens of signaling and risk sharing	116
Ambiguity and asset pricing: An empirical investigation for an emerging market	113
Effects of inflation and macroprudential policies on bank risk: Evidence from emerging economies	111
Challenges to corporate supply chain stability under the trend of expert power concentration	110
Uncertainty and cryptocurrency returns: A lesson from turbulent times	110
Dynamic spillovers between leading cryptocurrencies and derivatives tokens: Insights from a quantile VAR approach	109
Risk culture in corporate innovation	109
Can parental financial literacy enhance children's higher education opportunities?	106
Spillover effect of shadow banking business governance: A perspective on audit pricing decisions	106
Corporate social responsibility and the choice of payment method in mergers and acquisitions	105
Information interaction among institutional investors and stock price crash risk based on multiplex networks	105
Trade debts and bank lending in years of crisis	103
Natural disaster experiences and household entrepreneurship: Evidence from China	100
Micro Mechanisms Driving China's Clean Energy Flourish: Business Expansion and Financing	99
Empty pledges and powerless conventions: How transition climate risks are disrupting financial markets?	98
Evolutionary game analysis of digital inclusive finance for high-quality development of small and medium-sized enterprises	98
Subsidiary financing choices: The roles of institutional distances from home countries	94
Depositor market discipline: New evidence from selling failed banks	94
Does investor attitude toward carbon neutrality affect stock returns in China?	93
The RMB value added real effective exchange rate: Theory, measurement and analysis	92
Corporate environmental performance and bond financing cost: A multi-stakeholder signaling perspective	92
Digitalization and banks' efficiency: Evidence from a European analysis	91
Retailers' risk attitudes and the value of cooperation in supply chain finance under investment-loan linkage financing	91
Data governance, investment resilience, and corporate performance enhancement	90
Sustainability arbitrage pricing of ESG derivatives	89

Multiscale risk spillovers among critical mineral markets - insights from conditional and aggregated connectedness approach	87
Good volatility, bad volatility, and the cross section of cryptocurrency returns	87
Spatial proximity in venture capital investments and assets intangibility	86
Capital allocation efficiency of SMEs: Global evidence	86
Bank loan renegotiation and financial institutions' network	86
Loan amendments and capital structure	86
Value effects of sovereign wealth funds' exclusionary policies: The case of the Norwegian government pension fund-global (NGPF-G)	86
Climate change and exchange rate variables: A potential storm of urban debt	86
Going out and bringing in: Impact of digital finance on firms' cross-regional investments	85
Empirical research on banks' risk disclosure: Systematic literature review, bibliometric analysis and future research agenda	84
Evaluating the impact of report readability on ESG scores: A generative AI approach	83
Culture-driven, intelligent finance, and corporate human capital accumulation	82
Bursting the bitcoin bubble: Do market prices reflect fundamental bitcoin value?	81
Stock price default boundary: A Black-Cox model approach	81
Hedging geopolitical risks with diverse commodities	80
Why does price deviate from net asset value? The case of Singaporean infrastructure REITs	80
Compulsory liability insurance and excess cash holdings: Evidence from China	79
Intelligent manufacturing and trade credit	79
Inhibition or inducement? The impact of carbon emissions trading scheme (ETS) on corporate earnings management from the perspective of public pressure	79
Politics and Robots	79
Why is it difficult for Chinese companies to operate across regions in China?—Evidence from zombie companies	79
Adoption and content of key audit matters and stock price crash risk	78
The impact of digital inclusive finance on household carbon emissions: Empirical evidence from China	78
Equal Employment Opportunity Statement and underpricing in Initial Public Offerings	78
Driving green development: The influence of green credit and informatization-industrialization integration on reducing corporate carbon emissions	78
Identifying the determinants of European carbon allowances prices: A novel robust partial least squares method for open-high-low-close data	77
Firm-level political risk, liquidity management, and managerial attributes	77
Serving the truth: Do directors with media background improve financial reporting quality?	77
Debt overhang and short-termism under incomplete markets	76
Tracking investor gambling intensity	76
Network attention, administrative intervention and firm tax aggressiveness	75
Official environmental credit evaluation and corporate debt concentration	75
Can nationalization improve firm profitability? Empirical evidence from China	75
Transaction-based government-business relationship via government customer	75
Trading restriction and the choice for derivatives	75
Exchange rate stability and expectation management under heterogeneous expectations	75
Impact of green taxes and fees on corporate ESG performance	74
Corrigendum to “ESG performance and private enterprise resilience: Evidence from Chinese financial markets” [International Review of Financial Analysis, 98(2025)103884]	74
Tail connectedness of DeFi and CeFi with accessible banking pillars: Unveiling novel insights through wavelet and quantile cross-spectral coherence analyses	74
Going mainstream: Cryptocurrency narratives in newspapers	74
Rumors in the sky: Corporate rumors and stock price synchronicity	74
Do central bankers' characteristics matter for Africa? Ethnic favoritism, fractionalization, and inflation	74
Less is more? New evidence from stock market volatility predictability	72
Climate transition risk in U.S. loan portfolios: Are all banks the same?	72
Trading strategies and Financial Performances: A simulation approach	72
Financial literacy and FinTech market growth around the world	71
Corporate ESG performance and manager misconduct: Evidence from China	68
News-based ESG sentiment and stock price crash risk	67
Can machine learning models save capital for banks? Evidence from a Spanish credit portfolio	67
Forecasting Value-at-Risk using functional volatility incorporating an exogenous effect	66
Artificial intelligence-based tokens: Fresh evidence of connectedness with artificial intelligence-based equities	66
Global mutual fund flows	65
Family firm governance and working capital management policy	65
Take it with a pinch of salt—ESG rating of stocks and stock indices	65
The impact of digital infrastructure on urban radical innovation: Evidence from the “Broadband China” Demonstration Policy	64
Digitalization of tax administration and corporate performance: Evidence from China	64
Futures volatility forecasting based on big data analytics with incorporating an order imbalance effect	64
The destabilizing effect of mutual fund herding: Evidence from China	63
Industry herding in crypto assets	63
Stock market reactions to monetary policy surprises under uncertainty	63
FinTech and sustainable development: A systematic thematic analysis using human- and machine-generated processing	63
Benefits and costs: The impact of capital control on growth-at-risk in China	62
How does optimizing the business environment affect the capital flows between northern and southern China? From the perspective of enterprises' location choice for out-of-town investment	62
Why do individuals not participate in the stock market?	61
Managerial foreign experience and corporate risk-taking: Evidence from China	61
Can executive green experience improve enterprise total factor productivity? Evidence from China	61
Gaussian Mixture systemic risk measures in international equity markets	60
Identifying systemic risk of assets during international financial crises using Value at Risk elasticities	60
Collateral damage: Evidence from share pledging in China	60
Information content and sentiment: the role of environmental disclosure in stock price crash risk	60
Industry effects of corporate environmental and social scandals: Evidence from China	59
MSCI index inclusion and price efficiency evidence from China	59
Unintended consequences of the introduction of specialized bankruptcy courts: evidence from zombie lending	58
Does a collaborative culture promote firm growth? Evidence from China	58
A novel HAR-type realized volatility forecasting model using graph neural network	58
How does tail risk spill over between Chinese and the US stock markets? An empirical study based on multilayer network	57
Urban economic coordination committee and coordinated development of regional innovation: A knowledge spillover perspective	57
Is there more to asset price linkages in China than meets the eye: Cross-asset momentum and the role of hybrid funds	57
Internal business process governance and external regulation: How does AI technology empower financial performance?	56
Volatility connectedness on the central European forex markets	56

Banking competition and the enhancement of new quality productive forces: Evidence from China	56
Tax-related information regulatory capacity and accounting information quality	56
Capital investment, digital economy and innovation of high-tech industries	55
Responsible investing: Upside potential and downside protection?	55
Geographic expansion of banks and enterprise investment efficiency: Structural evidence from China	55
Prescreening bank failures with K-means clustering: Pros and cons	55
Gender balance in academia: Evidence from finance departments	55
Does CEO agreeableness personality mitigate real earnings management?	54
Possibility versus feasibility: International portfolio diversification under financial liberalization	54
Are celebrity CEOs worth the big bucks? Evidence from pay-performance sensitivity	54
Time-varying bond market integration and the impact of financial crises	54
Can local policy uncertainty curtail corporate speculation on financial assets?	54
Gold or Bitcoin, which is the safe haven during the COVID-19 pandemic?	53
Strong financial regulation, shadow banking, and enterprise innovation inputs: A quasi-natural experiment based on the introduction of the “new regulation on asset management”	53
Do narrative-related disclosures in the annual report enhance firm value? New evidence from an emerging market	53
Break a peg! A study of stablecoin co-instability	53
Asymmetric effects of fair value adjustments on dividend policy	53
Linkages between DeFi assets and conventional currencies: Evidence from the COVID-19 pandemic	53
Impact of long-term care insurance on the financial asset allocation of middle-aged and elderly households: Evidence from China	53
Hubris or talent? Estimating the role of overconfidence in Chinese households’ investment decisions	53
Financial elderly care security and community satisfaction: The moderating effect of internet usage	52
VaR and ES forecasting via recurrent neural network-based stateful models	52
Environmental protection tax policy and corporate risk-taking: Evidence from China	52
Network connectedness and the contagion structure of informed trading: Evidence from the time and frequency domains	52
Using implied volatility jumps for realized volatility forecasting: Evidence from the Chinese market	52
Home bias, sovereign-bank nexus and bank failure – Evidence from European stress tests	52
Greening the chain: How digital transformation of supply chains drives corporate innovation in China's A-share market	52
Precautionary motive or private benefit motive for holding cash: Evidence from CEO ownership	52
Be greedy when others are fearful: Evidence from a two-decade assessment of the NDX 100 and S&P 500 indexes	51
Electronic voting in shareholder meetings and the market value of cash holdings	51
How does green credit policy affect polluting firms' dividend policy? The China experience	51
The risk connectedness between international crude oil market and Chinese asset markets: From the perspective of common and idiosyncratic information	51
Atmospheric environmental resources and corporate green innovation: Blessing or curse of the weather?	50
Business tax reform and human capital in service industry firms: Evidence from China	50
Payout policy around the world	50
Government accounting supervision and corporate productivity: Evidence from market-oriented regulatory reform	50
Mandatory disclosure of comment letters and analysts' forecasts	50
Environmental regulations and corporate supply chain deviation: Evidence and financial implications for sustainable economic development	50
Geographic dispersion and corporate resilience during the COVID-19 pandemic	50
Time to acquire: Regulatory burden and M&A activity	50
Measuring the multi-scale price transmission effects from crude oil to energy stocks: A cascaded view	49
Biodiversity conservation and corporate environmental information disclosure: Evidence from a quasi-natural experiment in China	49
Networked liquidity risk contagion in high-carbon sectors: The role of multi-agent behavioral constraints	48
A novel downside beta and expected stock returns	48
Concentrated commonalities and systemic risk in China's banking system: A contagion network approach	48
How technological innovation influence operational risk: Evidence from banks in China	48
Investor sentiment and M&A withdrawal: International evidence	48
A closed-form formula for pricing exchange options with regime switching stochastic volatility and stochastic liquidity	47
Reflections of public perception of Russia-Ukraine conflict and Metaverse on the financial outlook of Metaverse coins: Fresh evidence from Reddit sentiment analysis	47
Testing how banks generate credit in the USA under the Basel III framework	47
Macroeconomic data manipulation and corporate investment efficiency: Evidence from China	47
Reevaluating the carbon premium: Evidence of green outperformance	47
How does green finance reform affect corporate ESG greenwashing behavior?	47
Bank loans, trade credit, and liquidity shortages of small businesses during the global financial crisis	47
Exploring the relationship between Bitcoin price and network’s hashrate within endogenous system	47
In search of climate distress risk	47
Digital transformation and wage distortion in R&D and innovation activities - Causal inference based on double machine learning	47
Forecasting U.S. Stock Returns Conditional on Geopolitical Risk and Business Cycles	47
Understanding crypto-asset exposure: An investigation of its impact on performance and stock sensitivity among listed companies	46
The effect of market competition on corporate cash holdings: An analysis of corporate innovation and financial constraint	46
Family entrepreneurship around the world	46
Exploring the connectedness between major volatility indexes and worldwide sustainable investments	46
Tax burden and enterprises' ESG performance	46
The spillover effect of customer annual report tone on supplier ESG decisions	46
Trolls at the gate: How Chinese “internet water armies” undermine corporate social responsibility	46
The ESG effect on the cost of debt financing: A sharp RD analysis	46
Corporate social network and corporate social responsibility: A perspective of interlocking directorates	46
The deleveraging puzzle of investment opportunity shock: A quasi-natural experiments on drug marketing authorization holder	45
Does the truth rest with the minority? Divergent views on nonfinancial firms' financial investments from the private equity market	45
Political corruption and corporate tax avoidance: A quasi-natural experiment	45
The role of new quality productive forces in manufacturing green innovation performance under tax incentives	45
Financial fusion: Bridging Islamic and Green investments in the European stock market	45
United we stand, divided we fall: The impact of top management team stability on corporate litigation	45
Multiscale dynamic linkages of China's financial markets under exchange rate shocks: An MJMD approach	45
Product relatedness and firm productivity	45
The impact and mechanism of digital finance on urban economic resilience	45
A gentle reminder: Should returns be interpreted as log differences?	45
Are carry, momentum and value still there in currencies?	45
Improved estimation of the correlation matrix using reinforcement learning and text-based networks	45
Are more analysts better? The case of convertible bond announcement effects	44
Dissecting hedge funds' strategies	44
Editorial Board	44
Environment-specific political risk discourse and expected crash risk: The role of political activism	43
Social capital, syndication, and investment performance: Evidence from PE investing in LBOs	43
Corporate social responsibility signalling under external transparency demands	43
Anatomy of recent value premium's travails	43
China's diversification discount: The role of the information environment	43
Understanding interconnections among steel, coal, iron ore, and financial assets in the US and China using an advanced methodology	43
How does government transparency affect regional financing efficiency? An examination based on the level of provincial government information disclosure	43
Reassessing the Illiquidity-Return Relationship: Evidence from Germany, the UK, and the U.S.	43
From low resource slack to inflexibility: The share price effect of operational efficiency	42
Does goodwill pressure drive business restructuring based on subsidiary disposal?	42
Nonlinear asset pricing in Chinese stock market: A deep learning approach	42
The impact of management equity incentive on firms' risk-taking under different monitoring conditions	42
Chinese corporate governance research over the last decade (2014 - 2023)	42