International Review of Financial Analysis

Article	Citations
Foundation-controlled firms and CEO compensation	831
In government-supported academic institutions we trust: Enterprise postdoctoral programmes and stock liquidity	608
Energy commodity spillovers and herding behavior: Evidence from EU ETS-listed firms	556
Does information transmission alleviate the salience bias of fund managers?	373
Fund trading divergence and performance contribution	363
Should Basel-style liquidity requirements be set countercyclically? Evidence from a numerical analysis	303
Sequential questioning and structured responses: Enhancing the information effectiveness of corporate site visits	286
Multinational corporations and share pledging of the controlling shareholder	273
Speaking business: A systematic literature review of linguistic structures and financial reporting behavior	225
Stock and sovereign returns linkages: Time-varying causality and extreme-quantile determinants	215
Does the connectedness among fossil energy returns matter for renewable energy stock returns? Fresh insights from the Cross-Quantilogram analysis	205
Strategy choices in strategic risk-taking: Does climate risk matter?	193
Ambiguity and asset pricing: An empirical investigation for an emerging market	190
Risk culture in corporate innovation	184
Bank affiliation and mutual funds’ trading strategy distinctiveness	182
Asset redeployability and firm value amidst the COVID-19 pandemic: A real options perspective	180
Empty pledges and powerless conventions: How transition climate risks are disrupting financial markets?	172
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]	172
Depositor market discipline: New evidence from selling failed banks	170
Cybersecurity and executive compensation: Can inside debt-induced risk aversion improve cyber risk management effectiveness?	168
Natural disaster experiences and household entrepreneurship: Evidence from China	165
Chaos, overfitting and equilibrium: To what extent can machine learning beat the financial market?	165
Trade debts and bank lending in years of crisis	164
Dynamic spillovers between leading cryptocurrencies and derivatives tokens: Insights from a quantile VAR approach	163
Spillover effect of shadow banking business governance: A perspective on audit pricing decisions	163

Data governance, investment resilience, and corporate performance enhancement	161
Corporate environmental performance and bond financing cost: A multi-stakeholder signaling perspective	160
Can parental financial literacy enhance children's higher education opportunities?	160
The RMB value added real effective exchange rate: Theory, measurement and analysis	158
Does investor attitude toward carbon neutrality affect stock returns in China?	156
Risk factors disclosure and corporate philanthropy	154
Financial agglomeration, enterprise structural upgrading, and economic growth disparities	152
Digitalization and banks' efficiency: Evidence from a European analysis	149
Multiscale risk spillovers among critical mineral markets - insights from conditional and aggregated connectedness approach	143
Sustainability arbitrage pricing of ESG derivatives	136
Retailers' risk attitudes and the value of cooperation in supply chain finance under investment-loan linkage financing	135
Evolutionary game analysis of digital inclusive finance for high-quality development of small and medium-sized enterprises	134
Information interaction among institutional investors and stock price crash risk based on multiplex networks	134
How active is your (nominally) actively managed quantitative fund?	131
Value effects of sovereign wealth funds' exclusionary policies: The case of the Norwegian government pension fund-global (NGPF-G)	131
Impact and moderating mechanism of corporate tax avoidance on firm value from the perspective of corporate governance	130
Corporate social irresponsibility: The relationship between ESG misconduct and the cost of equity	130
Predicting equity premium out-of-sample by conditioning on newspaper-based uncertainty measures: A comparative study	125
The effect of creditor judicial protection on trade credit in supply chains: Evidence from the establishment of bankruptcy courts in China	124
Retracted: Towards sustainable development: How does ESG performance promotes corporate green transformation	124
2024 U.S. presidential elections: An event study for U.S. and non-U.S. fossil fuel and renewable listed firms	119
The power of religion: Islamic investing in the lab	119
Does geopolitical risk affect firms' idiosyncratic volatility? Evidence from China	118
Heterogeneous impacts of climate change news on China's financial markets	114
Breaking the green investment dilemma of heavily polluting firms: Evidence from carbon market trading through the Lens of signaling and risk sharing	113
Supply chain financing, digital financial inclusion and enterprise innovation: Evidence from China	112
Challenges to corporate supply chain stability under the trend of expert power concentration	112
Subsidiary financing choices: The roles of institutional distances from home countries	111
Effects of inflation and macroprudential policies on bank risk: Evidence from emerging economies	111
Government open data and corporate supply chain concentration	111
Micro Mechanisms Driving China's Clean Energy Flourish: Business Expansion and Financing	108
Concealment and detection: The influence of management tone on analyst forecast revisions	107
Does corporate culture impact tax shelter? A machine learning approach	105
A conditional higher-moment CAPM	100
CEO war trauma and corporate tax avoidance	100
Tax incentives, supply chain spillovers, and enterprise technological innovation	100
Attention to biodiversity and stock returns	96
University shareholding and corporate innovation: Evidence from China	96
Can digital inclusive finance narrow the internal and external wage gaps in enterprises?	96
Supply chain finance digitalization and corporate risk-taking: Evidence from China	95
The contagion effect of natural disasters in the Sovereign CDS market: Which causes?	95
The effects of overnight events on daytime trading sessions	95
Corporate social responsibility and the choice of payment method in mergers and acquisitions	93
Uncertainty and cryptocurrency returns: A lesson from turbulent times	92
Financial flexibility, firm performance, and financial distress: A comparative study of China and the U.S. during pandemics	92
Digital technology penetration and supply chain resilience improvement: Enterprise innovation strategies in the digital age	89
Which is more important in stock market forecasting: Attention or sentiment?	89
Climate risk and bank liquidity creation: International evidence	88
Good volatility, bad volatility, and the cross section of cryptocurrency returns	87
Sustainability indices nexus: Green economy, ESG, environment and clean energy	87

Transforming banking: Examining the role of AI technology innovation in boosting banks financial performance	87
Greening the future: How green manufacturing shapes corporate environmental and ESG success	86
Less is more? New evidence from stock market volatility predictability	85
Loan amendments and capital structure	85
How does tail risk spill over between Chinese and the US stock markets? An empirical study based on multilayer network	85
Bank loan renegotiation and financial institutions' network	85
Climate change and exchange rate variables: A potential storm of urban debt	85
Unintended consequences of the introduction of specialized bankruptcy courts: evidence from zombie lending	84
Exchange rate stability and expectation management under heterogeneous expectations	84
Politics and Robots	81
Financial literacy and FinTech market growth around the world	81
Stock price default boundary: A Black-Cox model approach	81
Digitalization of tax administration and corporate performance: Evidence from China	81
Family firm governance and working capital management policy	80
The destabilizing effect of mutual fund herding: Evidence from China	80
Global mutual fund flows	80
Benefits and costs: The impact of capital control on growth-at-risk in China	79
Compulsory liability insurance and excess cash holdings: Evidence from China	79
Can executive green experience improve enterprise total factor productivity? Evidence from China	79
The impact of digital infrastructure on urban radical innovation: Evidence from the “Broadband China” Demonstration Policy	79
Why is it difficult for Chinese companies to operate across regions in China?—Evidence from zombie companies	78
Identifying the determinants of European carbon allowances prices: A novel robust partial least squares method for open-high-low-close data	78
Equal Employment Opportunity Statement and underpricing in Initial Public Offerings	78
Gaussian Mixture systemic risk measures in international equity markets	77
Take it with a pinch of salt—ESG rating of stocks and stock indices	77
Intelligent manufacturing and trade credit	76
Capital investment, digital economy and innovation of high-tech industries	75
Inhibition or inducement? The impact of carbon emissions trading scheme (ETS) on corporate earnings management from the perspective of public pressure	75
Responsible investing: Upside potential and downside protection?	75
Futures volatility forecasting based on big data analytics with incorporating an order imbalance effect	75
Driving green development: The influence of green credit and informatization-industrialization integration on reducing corporate carbon emissions	75
Spatial proximity in venture capital investments and assets intangibility	74
Going out and bringing in: Impact of digital finance on firms' cross-regional investments	74
Forecasting Value-at-Risk using functional volatility incorporating an exogenous effect	74
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	74
Official environmental credit evaluation and corporate debt concentration	72
Trading restriction and the choice for derivatives	71
Tracking investor gambling intensity	70
Firm-level political risk, liquidity management, and managerial attributes	70
Urban economic coordination committee and coordinated development of regional innovation: A knowledge spillover perspective	69
Tail connectedness of DeFi and CeFi with accessible banking pillars: Unveiling novel insights through wavelet and quantile cross-spectral coherence analyses	68
Culture-driven, intelligent finance, and corporate human capital accumulation	67
Going mainstream: Cryptocurrency narratives in newspapers	66
Artificial intelligence-based tokens: Fresh evidence of connectedness with artificial intelligence-based equities	66
Managerial foreign experience and corporate risk-taking: Evidence from China	66
Prescreening bank failures with K-means clustering: Pros and cons	66
Banking competition and the enhancement of new quality productive forces: Evidence from China	66
Why do individuals not participate in the stock market?	65
Bursting the bitcoin bubble: Do market prices reflect fundamental bitcoin value?	64
Industry herding in crypto assets	64
The impact of digital inclusive finance on household carbon emissions: Empirical evidence from China	64
Collateral damage: Evidence from share pledging in China	64
Rumors in the sky: Corporate rumors and stock price synchronicity	63
Empirical research on banks' risk disclosure: Systematic literature review, bibliometric analysis and future research agenda	62
Evaluating the impact of report readability on ESG scores: A generative AI approach	62
Does a collaborative culture promote firm growth? Evidence from China	61
Volatility connectedness on the central European forex markets	61
Industry effects of corporate environmental and social scandals: Evidence from China	61
Capital allocation efficiency of SMEs: Global evidence	60
Tax-related information regulatory capacity and accounting information quality	60
A novel HAR-type realized volatility forecasting model using graph neural network	60
Serving the truth: Do directors with media background improve financial reporting quality?	59
Why does price deviate from net asset value? The case of Singaporean infrastructure REITs	59
Debt overhang and short-termism under incomplete markets	59
Corrigendum to “ESG performance and private enterprise resilience: Evidence from Chinese financial markets” [International Review of Financial Analysis, 98(2025)103884]	59
Is there more to asset price linkages in China than meets the eye: Cross-asset momentum and the role of hybrid funds	59
Network attention, administrative intervention and firm tax aggressiveness	59
Do central bankers' characteristics matter for Africa? Ethnic favoritism, fractionalization, and inflation	59
Information content and sentiment: the role of environmental disclosure in stock price crash risk	58
Can nationalization improve firm profitability? Empirical evidence from China	58
Identifying systemic risk of assets during international financial crises using Value at Risk elasticities	58
Impact of green taxes and fees on corporate ESG performance	57
Trading strategies and Financial Performances: A simulation approach	57
Climate transition risk in U.S. loan portfolios: Are all banks the same?	57
Can machine learning models save capital for banks? Evidence from a Spanish credit portfolio	57
Adoption and content of key audit matters and stock price crash risk	56
MSCI index inclusion and price efficiency evidence from China	56
Transaction-based government-business relationship via government customer	56
Corporate ESG performance and manager misconduct: Evidence from China	56
News-based ESG sentiment and stock price crash risk	56

Hedging geopolitical risks with diverse commodities	56
Stock market reactions to monetary policy surprises under uncertainty	56
FinTech and sustainable development: A systematic thematic analysis using human- and machine-generated processing	55
Possibility versus feasibility: International portfolio diversification under financial liberalization	55
Internal business process governance and external regulation: How does AI technology empower financial performance?	55
Does CEO agreeableness personality mitigate real earnings management?	55
Gender balance in academia: Evidence from finance departments	55
Geographic expansion of banks and enterprise investment efficiency: Structural evidence from China	55
Can local policy uncertainty curtail corporate speculation on financial assets?	55
Financial elderly care security and community satisfaction: The moderating effect of internet usage	54
Time-varying bond market integration and the impact of financial crises	54
Hubris or talent? Estimating the role of overconfidence in Chinese households’ investment decisions	54
Asymmetric effects of fair value adjustments on dividend policy	54
Network connectedness and the contagion structure of informed trading: Evidence from the time and frequency domains	53
Precautionary motive or private benefit motive for holding cash: Evidence from CEO ownership	53
Using implied volatility jumps for realized volatility forecasting: Evidence from the Chinese market	53
Environmental protection tax policy and corporate risk-taking: Evidence from China	53
Home bias, sovereign-bank nexus and bank failure – Evidence from European stress tests	53
Mandatory disclosure of comment letters and analysts' forecasts	52
The risk connectedness between international crude oil market and Chinese asset markets: From the perspective of common and idiosyncratic information	52
Business tax reform and human capital in service industry firms: Evidence from China	52
Government accounting supervision and corporate productivity: Evidence from market-oriented regulatory reform	52
Geographic dispersion and corporate resilience during the COVID-19 pandemic	52
How does green credit policy affect polluting firms' dividend policy? The China experience	52
Time to acquire: Regulatory burden and M&A activity	51
Strong financial regulation, shadow banking, and enterprise innovation inputs: A quasi-natural experiment based on the introduction of the “new regulation on asset management”	51
Financial fusion: Bridging Islamic and Green investments in the European stock market	51
Environmental regulations and corporate supply chain deviation: Evidence and financial implications for sustainable economic development	51
Atmospheric environmental resources and corporate green innovation: Blessing or curse of the weather?	50
VaR and ES forecasting via recurrent neural network-based stateful models	50
Reflections of public perception of Russia-Ukraine conflict and Metaverse on the financial outlook of Metaverse coins: Fresh evidence from Reddit sentiment analysis	50
How does green finance reform affect corporate ESG greenwashing behavior?	50
Digital transformation and wage distortion in R&D and innovation activities - Causal inference based on double machine learning	50
Are celebrity CEOs worth the big bucks? Evidence from pay-performance sensitivity	50
Electronic voting in shareholder meetings and the market value of cash holdings	49
Payout policy around the world	49
The effect of market competition on corporate cash holdings: An analysis of corporate innovation and financial constraint	49
Impact of long-term care insurance on the financial asset allocation of middle-aged and elderly households: Evidence from China	49
In search of climate distress risk	49
The impact and mechanism of digital finance on urban economic resilience	49
Concentrated commonalities and systemic risk in China's banking system: A contagion network approach	48
A novel downside beta and expected stock returns	48
The deleveraging puzzle of investment opportunity shock: A quasi-natural experiments on drug marketing authorization holder	48
Networked liquidity risk contagion in high-carbon sectors: The role of multi-agent behavioral constraints	48
Macroeconomic data manipulation and corporate investment efficiency: Evidence from China	48
Exploring the relationship between Bitcoin price and network’s hashrate within endogenous system	48
Investor sentiment and M&A withdrawal: International evidence	48
How technological innovation influence operational risk: Evidence from banks in China	48
Forecasting U.S. Stock Returns Conditional on Geopolitical Risk and Business Cycles	48
Bank loans, trade credit, and liquidity shortages of small businesses during the global financial crisis	47
Exploring the connectedness between major volatility indexes and worldwide sustainable investments	47
The ESG effect on the cost of debt financing: A sharp RD analysis	47
Understanding crypto-asset exposure: An investigation of its impact on performance and stock sensitivity among listed companies	47
Testing how banks generate credit in the USA under the Basel III framework	47
Trolls at the gate: How Chinese “internet water armies” undermine corporate social responsibility	47
Tax burden and enterprises' ESG performance	46
Do narrative-related disclosures in the annual report enhance firm value? New evidence from an emerging market	46
Reevaluating the carbon premium: Evidence of green outperformance	46
The spillover effect of customer annual report tone on supplier ESG decisions	46
A closed-form formula for pricing exchange options with regime switching stochastic volatility and stochastic liquidity	45
Break a peg! A study of stablecoin co-instability	45
Greening the chain: How digital transformation of supply chains drives corporate innovation in China's A-share market	45
Corporate social network and corporate social responsibility: A perspective of interlocking directorates	45
Family entrepreneurship around the world	45
Be greedy when others are fearful: Evidence from a two-decade assessment of the NDX 100 and S&P 500 indexes	45
Measuring the multi-scale price transmission effects from crude oil to energy stocks: A cascaded view	45
A gentle reminder: Should returns be interpreted as log differences?	44
Understanding interconnections among steel, coal, iron ore, and financial assets in the US and China using an advanced methodology	44
Chinese corporate governance research over the last decade (2014 - 2023)	44
Corporate social responsibility signalling under external transparency demands	44
Editorial Board	44
Anatomy of recent value premium's travails	44
Does goodwill pressure drive business restructuring based on subsidiary disposal?	44
Inhibiting or promoting? The impact of carbon emissions trading on corporate environmental responsibility	44
Biodiversity conservation and corporate environmental information disclosure: Evidence from a quasi-natural experiment in China	44
Environment-specific political risk discourse and expected crash risk: The role of political activism	44
Dissecting hedge funds' strategies	44
Does the establishment of bankruptcy courts affect the risk of corporate collapse?	44
Retreat in order to advance: Environmental performance below legality aspiration and corporate disclosure strategy	43
Measuring informational efficiency of the European carbon market — A quantitative evaluation of higher order dependence	43
Bank as financial educator: How childhood financial development shapes investment behaviors	43
China's diversification discount: The role of the information environment	42
Director foreign experience: Geographic specificity and value implication	42
Are carry, momentum and value still there in currencies?	42
How does government transparency affect regional financing efficiency? An examination based on the level of provincial government information disclosure	42
Reassessing the Illiquidity-Return Relationship: Evidence from Germany, the UK, and the U.S.	42
Does the truth rest with the minority? Divergent views on nonfinancial firms' financial investments from the private equity market	42
Are more analysts better? The case of convertible bond announcement effects	42
Dynamic portfolio optimization with the MARCOS approach under uncertainty	41
Forecasting global stock market volatilities in an uncertain world	41
Multiscale dynamic linkages of China's financial markets under exchange rate shocks: An MJMD approach	41
Market uncertainty, persistent arbitrage-free violation, and price discovery in RMB market	41
From low resource slack to inflexibility: The share price effect of operational efficiency	41
Herding behaviour in equity crowdfunding and P2P lending markets: A systematic meta-analysis	41
Stock market anomalies: An extreme bounds analysis	41