International Review of Financial Analysis

Article	Citations
Foundation-controlled firms and CEO compensation	501
Multinational corporations and share pledging of the controlling shareholder	416
Should Basel-style liquidity requirements be set countercyclically? Evidence from a numerical analysis	378
Does corporate culture impact tax shelter? A machine learning approach	343
Can parental financial literacy enhance children's higher education opportunities?	336
Tax incentives, supply chain spillovers, and enterprise technological innovation	280
A conditional higher-moment CAPM	251
Speaking business: A systematic literature review of linguistic structures and financial reporting behavior	214
Impact and moderating mechanism of corporate tax avoidance on firm value from the perspective of corporate governance	195
Concealment and detection: The influence of management tone on analyst forecast revisions	192
Temperature and trading behaviours	184
Risk culture in corporate innovation	172
Exploring the source of the financial performance in Chinese banks: A risk-adjusted decomposition approach	169
The effects of overnight events on daytime trading sessions	168
Subsidiary financing choices: The roles of institutional distances from home countries	159
Does information transmission alleviate the salience bias of fund managers?	159
Trade debts and bank lending in years of crisis	157
Ambiguity and asset pricing: An empirical investigation for an emerging market	155
Asset redeployability and firm value amidst the COVID-19 pandemic: A real options perspective	147
Bank affiliation and mutual funds’ trading strategy distinctiveness	147
Challenges to corporate supply chain stability under the trend of expert power concentration	142
Strategy choices in strategic risk-taking: Does climate risk matter?	142
Digitalization and banks' efficiency: Evidence from a European analysis	138
Effects of inflation and macroprudential policies on bank risk: Evidence from emerging economies	137
Good volatility, bad volatility, and the cross section of cryptocurrency returns	131

Information interaction among institutional investors and stock price crash risk based on multiplex networks	128
Which is more important in stock market forecasting: Attention or sentiment?	124
Corporate social responsibility and the choice of payment method in mergers and acquisitions	124
Predicting equity premium out-of-sample by conditioning on newspaper-based uncertainty measures: A comparative study	123
Climate risk and bank liquidity creation: International evidence	122
Institutional environment and qualified foreign institutional investors' trust in auditing	121
Does investor attitude toward carbon neutrality affect stock returns in China?	120
Fund trading divergence and performance contribution	118
Corporate social irresponsibility: The relationship between ESG misconduct and the cost of equity	118
Chaos, overfitting and equilibrium: To what extent can machine learning beat the financial market?	116
Carbon-intensive industries in Socially Responsible mutual funds' portfolios	111
Information connectedness of international crude oil futures: Evidence from SC, WTI, and Brent	111
Dynamic spillovers between leading cryptocurrencies and derivatives tokens: Insights from a quantile VAR approach	107
University shareholding and corporate innovation: Evidence from China	106
Does geopolitical risk affect firms' idiosyncratic volatility? Evidence from China	102
Depositor market discipline: New evidence from selling failed banks	102
The power of religion: Islamic investing in the lab	102
Heterogeneous impacts of climate change news on China's financial markets	101
Does the connectedness among fossil energy returns matter for renewable energy stock returns? Fresh insights from the Cross-Quantilogram analysis	100
Transforming banking: Examining the role of AI technology innovation in boosting banks financial performance	100
Risk factors disclosure and corporate philanthropy	97
Uncertainty and cryptocurrency returns: A lesson from turbulent times	96
In state-owned academic institution we trust: Enterprise postdoctoral workstations and stock liquidity	94
Cybersecurity and executive compensation: Can inside debt-induced risk aversion improve cyber risk management effectiveness?	94
Supply chain financing, digital financial inclusion and enterprise innovation: Evidence from China	92
Micro Mechanisms Driving China's Clean Energy Flourish: Business Expansion and Financing	91
Herding and market volatility	90
Hunting the quicksilver: Using textual news and causality analysis to predict market volatility	88
Sustainability indices nexus: Green economy, ESG, environment and clean energy	85
Retracted: Towards sustainable development: How does ESG performance promotes corporate green transformation	84
Greening the future: How green manufacturing shapes corporate environmental and ESG success	83
Financial flexibility, firm performance, and financial distress: A comparative study of China and the U.S. during pandemics	83
Attention to biodiversity and stock returns	82
Industry effects of corporate environmental and social scandals: Evidence from China	82
Do central bankers' characteristics matter for Africa? Ethnic favoritism, fractionalization, and inflation	79
Going mainstream: Cryptocurrency narratives in newspapers	79
Benefits and costs: The impact of capital control on growth-at-risk in China	77
Tracking investor gambling intensity	76
Compulsory liability insurance and excess cash holdings: Evidence from China	76
Prescreening bank failures with K-means clustering: Pros and cons	76
Stock price default boundary: A Black-Cox model approach	76
Stock market reactions to monetary policy surprises under uncertainty	75
Tax-related information regulatory capacity and accounting information quality	75
Can machine learning models save capital for banks? Evidence from a Spanish credit portfolio	74
Forecasting Value-at-Risk using functional volatility incorporating an exogenous effect	74
Is there more to asset price linkages in China than meets the eye: Cross-asset momentum and the role of hybrid funds	72
Why does price deviate from net asset value? The case of Singaporean infrastructure REITs	72
Evaluating the impact of report readability on ESG scores: A generative AI approach	72
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	72
Market distraction and near-zero daily volatility persistence	71

Evidence of oil market price clustering during the COVID-19 pandemic	71
Corporate social responsibility overinvestment in mergers and acquisitions	71
Rumors in the sky: Corporate rumors and stock price synchronicity	70
Not all bank systemic risks are alike: Deposit insurance and bank risk revisited	70
Short-run disequilibrium adjustment and long-run equilibrium in the international stock markets: A network-based approach	70
Mean-variance versus utility maximization revisited: The case of constant relative risk aversion	70
The destabilizing effect of mutual fund herding: Evidence from China	69
Financial literacy and FinTech market growth around the world	69
Family firm governance and working capital management policy	68
Adoption and content of key audit matters and stock price crash risk	67
FinTech and sustainable development: A systematic thematic analysis using human- and machine-generated processing	67
Volatility connectedness on the central European forex markets	66
Serving the truth: Do directors with media background improve financial reporting quality?	65
Price informativeness and state-owned enterprises: Considering their heterogeneity	65
Official environmental credit evaluation and corporate debt concentration	64
Why do individuals not participate in the stock market?	63
A novel HAR-type realized volatility forecasting model using graph neural network	63
Can executive green experience improve enterprise total factor productivity? Evidence from China	63
Responsible investing: Upside potential and downside protection?	62
Transaction-based government-business relationship via government customer	62
Identifying systemic risk of assets during international financial crises using Value at Risk elasticities	61
Empirical research on banks' risk disclosure: Systematic literature review, bibliometric analysis and future research agenda	61
Less is more? New evidence from stock market volatility predictability	60
Tail connectedness of DeFi and CeFi with accessible banking pillars: Unveiling novel insights through wavelet and quantile cross-spectral coherence analyses	60
Bank loan renegotiation and financial institutions' network	60
Exchange rate stability and expectation management under heterogeneous expectations	60
Trading strategies and Financial Performances: A simulation approach	59
Identifying the determinants of European carbon allowances prices: A novel robust partial least squares method for open-high-low-close data	59
Firm-level political risk, liquidity management, and managerial attributes	59
MSCI index inclusion and price efficiency evidence from China	58
Bursting the bitcoin bubble: Do market prices reflect fundamental bitcoin value?	57
Politics and Robots	57
How does tail risk spill over between Chinese and the US stock markets? An empirical study based on multilayer network	57
Trading restriction and the choice for derivatives	57
Unintended consequences of the introduction of specialized bankruptcy courts: evidence from zombie lending	55
Industry herding in crypto assets	55
Why is it difficult for Chinese companies to operate across regions in China?—Evidence from zombie companies	54
Collateral damage: Evidence from share pledging in China	54
Futures volatility forecasting based on big data analytics with incorporating an order imbalance effect	54
Information content and sentiment: Role of environmental disclosure in stock price crash risk	53
Internal business process governance and external regulation: How does AI technology empower financial performance?	53
Impact of green taxes and fees on corporate ESG performance	53
Intelligent manufacturing and trade credit	53
Capital investment, digital economy and innovation of high-tech industries	53
Inhibition or inducement? The impact of carbon emissions trading scheme (ETS) on corporate earnings management from the perspective of public pressure	52
Corporate ESG performance and manager misconduct: Evidence from China	52
Green credit regulation, induced R&D and green productivity: Revisiting the Porter Hypothesis	52
How cryptocurrency affects economy? A network analysis using bibliometric methods	52
Digitalization of tax administration and corporate performance: Evidence from China	52
Take it with a pinch of salt—ESG rating of stocks and stock indices	51
International variations in ESG disclosure – Do cross-listed companies care more?	51
News-based ESG sentiment and stock price crash risk	51
Time to acquire: Regulatory burden and M&A activity	50
Managerial foreign experience and corporate risk-taking: Evidence from China	50
A novel downside beta and expected stock returns	50
Artificial intelligence-based tokens: Fresh evidence of connectedness with artificial intelligence-based equities	50
Climate transition risk in U.S. loan portfolios: Are all banks the same?	50
Time-varying bond market integration and the impact of financial crises	49
The performance and motivation of serial acquisitions: Evidence from Australia	49
The deleveraging puzzle of investment opportunity shock: A quasi-natural experiments on drug marketing authorization holder	49
Gender balance in academia: Evidence from finance departments	49
Testing how banks generate credit in the USA under the Basel III framework	49
VaR and ES forecasting via recurrent neural network-based stateful models	49
Break a peg! A study of stablecoin co-instability	49
Exploring the connectedness between major volatility indexes and worldwide sustainable investments	47
Understanding crypto-asset exposure: An investigation of its impact on performance and stock sensitivity among listed companies	47
Up or down? Short-term reversal, momentum, and liquidity effects in cryptocurrency markets	47
Corporate social network and corporate social responsibility: A perspective of interlocking directorates	47
Payout policy around the world	47
Factor price distortion, efficiency loss and enterprises' outward foreign direct investment	46
Exploring the relationship between Bitcoin price and network’s hashrate within endogenous system	46
Financing the green projects: Market efficiency and volatility persistence of green versus conventional bonds, and the comparative effects of health and financial crises	46
Possibility versus feasibility: International portfolio diversification under financial liberalization	45
Gold or Bitcoin, which is the safe haven during the COVID-19 pandemic?	45
Family entrepreneurship around the world	45
Impact of long-term care insurance on the financial asset allocation of middle-aged and elderly households: Evidence from China	44
Using implied volatility jumps for realized volatility forecasting: Evidence from the Chinese market	44
Asymmetric effects of fair value adjustments on dividend policy	44
Hubris or talent? Estimating the role of overconfidence in Chinese households’ investment decisions	44
Electronic voting in shareholder meetings and the market value of cash holdings	43

Reflections of public perception of Russia-Ukraine conflict and Metaverse on the financial outlook of Metaverse coins: Fresh evidence from Reddit sentiment analysis	43
Strong financial regulation, shadow banking, and enterprise innovation inputs: A quasi-natural experiment based on the introduction of the “new regulation on asset management”	42
The profitability effect: Insight from a dynamic perspective	42
Network connectedness and the contagion structure of informed trading: Evidence from the time and frequency domains	42
Can local policy uncertainty curtail corporate speculation on financial assets?	42
An examination of the effect of stock market liquidity on bank market power	41
Macroeconomic data manipulation and corporate investment efficiency: Evidence from China	41
Does rising corporate social responsibility promote firm tax payments? New perspectives from a quantile approach	41
Bank loans, trade credit, and liquidity shortages of small businesses during the global financial crisis	40
Atmospheric environmental resources and corporate green innovation: Blessing or curse of the weather?	40
Forecasting U.S. Stock Returns Conditional on Geopolitical Risk and Business Cycles	40
Mandatory disclosure of comment letters and analysts' forecasts	40
Investor sentiment and M&A withdrawal: International evidence	40
Environmental protection tax policy and corporate risk-taking: Evidence from China	39
Geographic expansion of banks and enterprise investment efficiency: Structural evidence from China	39
Financial fusion: Bridging Islamic and Green investments in the European stock market	39
Geographic dispersion and corporate resilience during the COVID-19 pandemic	39
In search of climate distress risk	39
Be greedy when others are fearful: Evidence from a two-decade assessment of the NDX 100 and S&P 500 indexes	38
Dynamic efficiency and arbitrage potential in Bitcoin: A long-memory approach	38
How does green credit policy affect polluting firms' dividend policy? The China experience	38
Concentrated commonalities and systemic risk in China's banking system: A contagion network approach	38
The effect of market competition on corporate cash holdings: An analysis of corporate innovation and financial constraint	38
Does CEO agreeableness personality mitigate real earnings management?	37
Extreme risk spillovers from commodity indexes to sovereign CDS spreads of commodity dependent countries: A VAR quantile analysis	37
Linkages between DeFi assets and conventional currencies: Evidence from the COVID-19 pandemic	37
The ESG effect on the cost of debt financing: A sharp RD analysis	37
Achieving the United Nations' sustainable development goals through financial inclusion: A systematic literature review of access to finance across the globe	37
Measuring the multi-scale price transmission effects from crude oil to energy stocks: A cascaded view	37
Precautionary motive or private benefit motive for holding cash: Evidence from CEO ownership	37
Product relatedness and firm productivity	36
Conformity or differentiation? The role of CEO turnover	36
Improved estimation of the correlation matrix using reinforcement learning and text-based networks	36
How technological innovation influence operational risk: Evidence from banks in China	36
Measuring speculation beyond day trading and bets on lottery-like stocks	36
The existence and severity of the forward premium puzzle during tranquil and turbulent periods: Developed versus developing country currencies	35
Editorial Board	35
Does the truth rest with the minority? Divergent views on nonfinancial firms' financial investments from the private equity market	35
Stock market anomalies: An extreme bounds analysis	35
A gentle reminder: Should returns be interpreted as log differences?	35
Director foreign experience: Geographic specificity and value implication	34
Does the depth of digital trade rules promote bilateral value chain cooperation?	34
Are more analysts better? The case of convertible bond announcement effects	34
Are carry, momentum and value still there in currencies?	34
United we stand, divided we fall: The impact of top management team stability on corporate litigation	34
Does goodwill pressure drive business restructuring based on subsidiary disposal?	34
The integration of share repurchases into investment decision-making: Evidence from Japan	34
Forecasting global stock market volatilities in an uncertain world	33
China's diversification discount: The role of the information environment	33
Corporate social responsibility signalling under external transparency demands	33
Investor attention, information acquisition, and value premium: A mispricing perspective	33
Political corruption and corporate tax avoidance: A quasi-natural experiment	33
Can tax reduction incentive policy promote corporate digital and intelligent transformation?	33
Dissecting hedge funds' strategies	33
Anatomy of recent value premium's travails	32
Impact of media attention on corporate green innovation: What is the role of dual environmental regulation?	32
Environment-specific political risk discourse and expected crash risk: The role of political activism	32
Does the establishment of bankruptcy courts affect the risk of corporate collapse?	32
Analysts' initial coverage and stock price crashes	32
May board committees reduce the probability of financial distress? A survival analysis on Italian listed companies	32
Nonlinear asset pricing in Chinese stock market: A deep learning approach	32
Social capital, syndication, and investment performance: Evidence from PE investing in LBOs	32
Chinese corporate governance research over the last decade (2014 - 2023)	32
Presenting a new deep learning-based method with the incorporation of error effects to predict certain cryptocurrencies	32
Inhibiting or promoting? The impact of carbon emissions trading on corporate environmental responsibility	31
Green and climate finance: Challenges and opportunities	31
Forecasting stock market volatility with various geopolitical risks categories: New evidence from machine learning models	31
The impact of management equity incentive on firms' risk-taking under different monitoring conditions	31
Overlapping membership between risk management committee and audit committee and bank risk-taking: Evidence from China	31
Gender diversity and financial flexibility: Evidence from China	31
‘E’ of ESG and firm performance: Evidence from China	31
Understanding interconnections among steel, coal, iron ore, and financial assets in the US and China using an advanced methodology	31
Market uncertainty, persistent arbitrage-free violation, and price discovery in RMB market	31
The impact of human resource practices on corporate investment efficiency	30
Can investor-firm interactions mitigate ESG rating divergence? Evidence from China	30
Double-edged sword: Does strong creditor protection in the bankruptcy process affect firm productivity	30
Asymmetric causality of economic policy uncertainty and oil volatility index on time-varying nexus of the clean energy, carbon and green bond	30
Does broadband infrastructure affect corporate mergers and acquisitions? Quasi-natural experimental evidence from China	30
Time and frequency connectedness of green equity indices: Uncovering a socially important link to Bitcoin	30
Measuring informational efficiency of the European carbon market — A quantitative evaluation of higher order dependence	30
From low resource slack to inflexibility: The share price effect of operational efficiency	30
Dynamic portfolio optimization with the MARCOS approach under uncertainty	30
Does FinTech development facilitate firms' innovation? Evidence from China	29
On equity market inefficiency during the COVID-19 pandemic	29
Strategic use of provisions: Evidence from European multinationals	29
Feedback trading in retail-dominated assets: Evidence from the gold bullion coin market	29
Promoting or inhibiting: The impact of artificial intelligence application on corporate environmental performance	29
Exploring the carbon emission reduction effects of corporate climate risk disclosure: Empirical evidence based on Chinese A-share listed enterprises	29
Editorial Board	29
Borrowing during periods of policy uncertainty: The role of foreign lenders	29
Tail risk contagion and multiscale spillovers in the green finance index and large US technology stocks	29
Geopolitical risk and stock price crash risk: The mitigating role of ESG performance	29
Editorial Board	29
Policy uncertainty and seasoned equity offerings methods	29
Nonlinear effects of climate policy uncertainty and financial speculation on the global prices of oil and gas	29