Finance Research Letters

(The median citation count of Finance Research Letters is 2. 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 2020-04-01 to 2024-04-01.)
Financial markets under the global pandemic of COVID-191314
COVID-19 and finance: Agendas for future research897
The contagion effects of the COVID-19 pandemic: Evidence from gold and cryptocurrencies538
The role of ESG performance during times of financial crisis: Evidence from COVID-19 in China489
Safe haven or risky hazard? Bitcoin during the Covid-19 bear market484
Financial contagion during COVID–19 crisis453
COVID-19 and the march 2020 stock market crash. Evidence from S&P1500421
The impact of COVID-19 on emerging stock markets406
Infected Markets: Novel Coronavirus, Government Interventions, and Stock Return Volatility around the Globe378
COVID-19 and stock market volatility: An industry level analysis291
COVID-19 and the United States financial markets’ volatility285
Does financial inclusion impact CO2 emissions? Evidence from Asia273
Co-movement of COVID-19 and Bitcoin: Evidence from wavelet coherence analysis262
Heterogeneous impacts of wars on global equity markets: Evidence from the invasion of Ukraine242
Deaths, panic, lockdowns and US equity markets: The case of COVID-19 pandemic228
COVID-19 lockdowns, stimulus packages, travel bans, and stock returns218
Asymmetric dependence between stock market returns and news during COVID-19 financial turmoil186
COVID-19’s disasters are perilous than Global Financial Crisis: A rumor or fact?185
The impact of the Russia-Ukraine conflict on the connectedness of financial markets184
Does ESG certification add firm value?181
Time-frequency comovement among green bonds, stocks, commodities, clean energy, and conventional bonds180
How the cryptocurrency market has performed during COVID 19? A multifractal analysis176
Stock markets and the COVID-19 fractal contagion effects176
Developing Low Carbon Finance Index: Evidence From Developed and Developing Economies176
Did Congress trade ahead? Considering the reaction of US industries to COVID-19156
Does the digital transformation of enterprises affect stock price crash risk?152
Trade openness and economic growth quality of China: Empirical analysis using ARDL model151
ChatGPT for (Finance) research: The Bananarama Conjecture151
Freedom and stock market performance during Covid-19 outbreak151
Systemic risk: The impact of COVID-19149
Is non-fungible token pricing driven by cryptocurrencies?145
Price reaction, volatility timing and funds’ performance during Covid-19144
Safe haven in GFC versus COVID-19: 100 turbulent days in the financial markets141
Market reactions to the arrival and containment of COVID-19: An event study139
Covid-19 and Optimal Portfolio Selection for Investment in Sustainable Development Goals139
The bubble contagion effect of COVID-19 outbreak: Evidence from crude oil and gold markets138
Examining the interrelatedness of NFTs, DeFi tokens and cryptocurrencies134
The cryptocurrency uncertainty index133
Banking goes digital: The adoption of FinTech services by German households132
Fear of the coronavirus and the stock markets128
Geopolitical risk and the systemic risk in the commodity markets under the war in Ukraine125
Are Bitcoin and Ethereum safe-havens for stocks during the COVID-19 pandemic?125
The role of financial deepening and green technology on carbon emissions: Evidence from major OECD economies125
How does investor attention influence the green bond market?123
Infectious disease pandemic and permanent volatility of international stock markets: A long-term perspective120
Can financial inclusion be an effective mitigation measure? evidence from panel data analysis of the environmental Kuznets curve116
Green finance and decarbonization: Evidence from around the world115
ESG rating and stock price crash risk: Evidence from China112
Trust and stock market volatility during the COVID-19 crisis110
Do Asian emerging stock markets react to international economic policy uncertainty and geopolitical risk alike? A quantile regression approach108
Aye Corona! The contagion effects of being named Corona during the COVID-19 pandemic106
The effect of fintech on banks’ credit provision to SMEs: Evidence from China105
Impacts of the COVID-19 pandemic on financial market connectedness105
Fertile LAND: Pricing non-fungible tokens105
Climate policy uncertainty and the price dynamics of green and brown energy stocks103
Industry volatility and economic uncertainty due to the COVID-19 pandemic: Evidence from wavelet coherence analysis101
NFTs and asset class spillovers: Lessons from the period around the COVID-19 pandemic101
The Russia-Ukraine conflict and volatility risk of commodity markets98
Impact of economic policy uncertainty shocks on China's financial conditions97
COVID–19 media coverage and ESG leader indices97
Stock market returns, volatility, correlation and liquidity during the COVID-19 crisis: Evidence from the Markov switching approach96
Corporate social responsibility (CSR) performance and green innovation: Evidence from China95
The impact of investor attention during COVID-19 on investment in clean energy versus fossil fuel firms94
A crypto safe haven against Bitcoin93
COVID-19 and investor behavior93
Asymmetric relationship between green bonds and commodities: Evidence from extreme quantile approach92
The new crypto niche: NFTs, play-to-earn, and metaverse tokens92
Stock Return and the COVID-19 pandemic: Evidence from Canada and the US92
COVID−19 and oil price risk exposure91
Evaluation of China's carbon emission trading policy from corporate innovation91
The influence of Bitcoin on portfolio diversification and design89
Stock markets’ reaction to Covid-19: Moderating role of national culture89
Bitcoin volatility, stock market and investor sentiment. Are they connected?88
Economic policy uncertainty and cryptocurrency volatility88
The effect of political and economic uncertainty on the cryptocurrency market88
Does digital transformation matter for corporate risk-taking?88
Reconsidering systematic factors during the Covid-19 pandemic – The rising importance of ESG86
The impact of COVID-19 on the degree of dependence and structure of risk-return relationship: A quantile regression approach86
How does economic policy uncertainty affect corporate risk-taking? Evidence from China86
The COVID-19 outbreak and stock market reactions: Evidence from Australia85
The impact of the Russia-Ukraine conflict on energy firms: A capital market perspective84
Investigating solutions for the development of a green bond market: Evidence from analytic hierarchy process83
CSR and idiosyncratic risk: Evidence from ESG information disclosure83
Corporate social responsibility and firm value: Guiding through economic policy uncertainty83
Determinants of Spillovers between Islamic and Conventional Financial Markets: Exploring the Safe Haven Assets during the COVID-19 Pandemic82
Does Bitcoin hedge crude oil implied volatility and structural shocks? A comparison with gold, commodity and the US Dollar82
Russia–Ukraine war and systemic risk: Who is taking the heat?80
International stock market risk contagion during the COVID-19 pandemic80
The impact of COVID-19 on the Chinese stock market: Sentimental or substantial?78
Does geopolitical risk matter for global asset returns? Evidence from quantile-on-quantile regression78
Financial performance shortfall, ESG controversies, and ESG performance: Evidence from firms around the world76
Volatility Spillovers between Stock and Energy Markets during Crises: A Comparative Assessment between the 2008 Global Financial Crisis and the Covid-19 Pandemic Crisis76
A bibliometric review of finance bibliometric papers75
Corporate decisions in times of war: Evidence from the Russia-Ukraine conflict75
COVID-19 and safer investment bets74
How does the fintech sector react to signals from central bank digital currencies?74
Covid-19 pandemic and tail-dependency networks of financial assets74
Digital finance and corporate ESG74
Causality of geopolitical risk on food prices: Considering the Russo–Ukrainian conflict74
Efficiency in the markets of crypto-currencies73
The rise of digital finance: Financial inclusion or debt trap?73
The relationship between the economic policy uncertainty and the cryptocurrency market72
Forecasting realized gold volatility: Is there a role of geopolitical risks?72
Environmental regulation and green innovation: Evidence from China's carbon emissions trading policy71
Covid-19 impact on NFTs and major asset classes interrelations: Insights from the wavelet coherence analysis71
Forecasting directional movements of stock prices for intraday trading using LSTM and random forests69
Understanding digital bubbles amidst the COVID-19 pandemic: Evidence from DeFi and NFTs69
COVID-19 and financial market efficiency: Evidence from an entropy-based analysis69
Trading from home: The impact of COVID-19 on trading volume around the world69
Asymmetric volatility in cryptocurrency markets: New evidence from smooth transition GARCH models68
The impact of COVID-19 on housing price: Evidence from China68
Who raised from the abyss? A comparison between cryptocurrency and stock market dynamics during the COVID-19 pandemic68
The Russo-Ukrainian war and financial markets: the role of dependence on Russian commodities67
The impact of digital inclusive finance on sustainable economic growth in China67
A three-factor pricing model for cryptocurrencies66
The international spread of COVID-19 stock market collapses65
Impact of Russia-Ukraine war attention on cryptocurrency: Evidence from quantile dependence analysis65
Flight-to-quality between global stock and bond markets in the COVID era64
Do Banks Value Green Management in China? The Perspective of the Green Credit Policy64
The profitability of technical trading rules in the Bitcoin market63
Corporate social responsibility, financial instability and corporate financial performance: Linear, non-linear and spillover effects – The case of the CAC 40 companies62
Green finance reform and corporate innovation: Evidence from China61
Testing the safe-haven properties of gold and bitcoin in the backdrop of COVID-19: A wavelet quantile correlation approach61
Trust and financial inclusion: A cross-country study60
Is Bitcoin really more than a diversifier? A pre- and post-COVID-19 analysis60
Environmental regulation and foreign direct investment: Evidence from China's outward FDI60
COVID-19 effect on herding behaviour in European capital markets59
Global financial crisis and COVID-19: Industrial reactions59
How do stock, oil, and economic policy uncertainty influence the green bond market?59
ESG ETFs and the COVID-19 stock market crash of 2020: Did clean funds fare better?59
The role of the IDEMV in predicting European stock market volatility during the COVID-19 pandemic59
Forecasting the price of Bitcoin using deep learning58
Breaking barriers to innovation: The power of digital transformation58
The impact of government intervention on corporate environmental performance: Evidence from China's national civilized city award58
Bitcoin: An inflation hedge but not a safe haven57
Audit committee structure, institutional quality, and bank stability: evidence from ASEAN countries57
Can economic policy uncertainty predict exchange rate volatility? New evidence from the GARCH-MIDAS model57
Sustainable banking: A literature review and integrative framework57
A new approach for addressing endogeneity issues in the relationship between corporate social responsibility and corporate financial performance56
The impact of Covid-19 on liquidity of emerging market bonds56
The only certainty is uncertainty: An analysis of the impact of COVID-19 uncertainty on regional stock markets55
Impacts of COVID-19 outbreak on the spillovers between US and Chinese stock sectors55
The effect of revenue diversification on bank profitability and risk during the COVID-19 pandemic54
Corruption in banks: A bibliometric review and agenda54
Asymmetric effects of climate policy uncertainty, infectious diseases-related uncertainty, crude oil volatility, and geopolitical risks on green bond prices54
What caused global stock market meltdown during the COVID pandemic–Lockdown stringency or investor panic?54
Systemic risk-sharing framework of cryptocurrencies in the COVID–19 crisis54
Quantifying the spillover effect in the cryptocurrency market54
When ESG meets AAA: The effect of ESG rating changes on stock returns53
Connectedness of stock markets with gold and oil: New evidence from COVID-19 pandemic53
Digital transformation and firm cost stickiness: Evidence from China53
COVID-19 pandemic improves market signals of cryptocurrencies–evidence from Bitcoin, Bitcoin Cash, Ethereum, and Litecoin53
Low-carbon financial risk factor correlation in the belt and road PPP project52
Tail-risk spillovers in cryptocurrency markets52
Do large firms just talk corporate social responsibility? - The evidence from CSR report disclosure52
Empirical test of the impact of the digital economy on China's employment structure52
Fintech-based Financial Inclusion and Risk-taking of Microfinance Institutions (MFIs): Evidence from Sub-Saharan Africa51
The economic value of NFT: Evidence from a portfolio analysis using mean–variance framework51
Cryptocurrency liquidity and volatility interrelationships during the COVID-19 pandemic51
Predicting Bitcoin returns: Comparing the roles of newspaper- and internet search-based measures of uncertainty51
Competition and ESG practices in emerging markets: Evidence from a difference-in-differences model51
The influence of stablecoin issuances on cryptocurrency markets51
Hedging Geopolitical Risks with Different Asset Classes: A Focus on the Russian Invasion of Ukraine50
Does investor sentiment on social media provide robust information for Bitcoin returns predictability?50
The impacts of the COVID-19 pandemic on China's green bond market50
The stock price reaction of the COVID-19 pandemic on the airline, hotel, and tourism industries49
The development of Bitcoin futures: Exploring the interactions between cryptocurrency derivatives49
Does responsible investing pay during economic downturns: Evidence from the COVID-19 pandemic49
Can CBOE gold and silver implied volatility help to forecast gold futures volatility in China? Evidence based on HAR and Ridge regression models49
More sustainable, more productive: Evidence from ESG ratings and total factor productivity among listed Chinese firms49
Futures market and the contagion effect of COVID-19 syndrome49
Volatility and return connectedness of cryptocurrency, gold, and uncertainty: Evidence from the cryptocurrency uncertainty indices48
Does financial structure affect CO2 emissions? Evidence from G20 countries48
Cryptocurrency market efficiency in short- and long-term horizons during COVID-19: An asymmetric multifractal analysis approach48
Greenwashing and product market competition48
Transitions in the cryptocurrency market during the COVID-19 pandemic: A network analysis47
ESG and Firm's Default Risk47
Does economic policy uncertainty influence executive risk-taking incentives?47
Firm-specific investor sentiment and stock price crash risk47
How does the development of digital financial inclusion affect the total factor productivity of listed companies? Evidence from China46
Intraday efficiency-frequency nexus in the cryptocurrency markets46
The impact of the Russia-Ukraine conflict on market efficiency: Evidence for the developed stock market46
Disclosure or action: Evaluating ESG behavior towards financial performance45
Stock market reactions to COVID-19 lockdown: A global analysis45
Volatility in International Sovereign Bond Markets: The role of government policy responses to the COVID-19 pandemic45
Term spreads and the COVID-19 pandemic: Evidence from international sovereign bond markets45
Geopolitical risk and bank stability45
Role of financial development for sustainable economic development in low middle income countries45
COVID-19 pandemic waves and global financial markets: Evidence from wavelet coherence analysis44
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 crisis44
Asymmetric effects of geopolitical risk on major currencies: Russia-Ukraine tensions44
The role of investor attention in predicting stock prices: The long short-term memory networks perspective44
How has the relationship between oil and the US stock market changed after the Covid-19 crisis?44
The correlation between the stock market and Bitcoin during COVID-19 and other uncertainty periods44
Corporate social performance and financial performance relationship: A data envelopment analysis approach without explicit input43
Economic policy uncertainty and exchange rates in emerging markets: Short and long runs evidence43
The impact of the consistency of carbon performance and carbon information disclosure on enterprise value43
Does broadband infrastructure boost firm productivity? Evidence from a quasi-natural experiment in China43
Green Commitment and Stock Price Crash Risk42
The impact of the COVID-19 pandemic on dividends42
Cheap talk and cherry-picking: What ClimateBert has to say on corporate climate risk disclosures42
Anatomy of a Stablecoin’s failure: The Terra-Luna case41
Google search volumes and the financial markets during the COVID-19 outbreak41
The unprecedented reaction of equity and commodity markets to COVID-1941
Economic policy uncertainty and non-performing loans: The moderating role of bank concentration41
Herding behavior in conventional cryptocurrency market, non-fungible tokens, and DeFi assets.40
COVID-19: Fear of pandemic and short-term IPO performance40
Can internet finance alleviate the exclusiveness of traditional finance? evidence from Chinese P2P lending markets40
FinTech and financial stability: Threat or opportunity?40
Inefficient investment and digital transformation: What is the role of financing constraints?39
Price explosiveness in cryptocurrencies and Elon Musk's tweets39
Gold, bonds, and epidemics: A safe haven study39
Understanding Bitcoin liquidity38
Financial services, spatial agglomeration, and the quality of urban economic growth–based on an empirical analysis of 268 cities in China38
Time-frequency volatility spillovers between major international financial markets during the COVID-19 pandemic38
Spillover effects of RMB exchange rate among B&R countries: Before and during COVID-19 event38
How did retail investors respond to the COVID-19 pandemic? The effect of Robinhood brokerage customers on market quality38
Investigating the marginal impact of ESG results on corporate financial performance37
Policy uncertainty and carbon neutrality: Evidence from China37
Calendar effects in Bitcoin returns and volatility37
Cryptocurrency returns and the volatility of liquidity37
ESG fund scores in UK SRI and conventional pension funds: Are the ESG concerns of the SRI niche affecting the conventional mainstream?37
Do precious metals act as hedges or safe havens for China's financial markets?37
The asymmetric effect of bitcoin on altcoins: evidence from the nonlinear autoregressive distributed lag (NARDL) model37
Learning from SARS: Return and volatility connectedness in COVID-1937
The reputational contagion effects of ransomware attacks37
What drives DeFi prices? Investigating the effects of investor attention36
Extreme risk spillover between chinese and global crude oil futures36
Extreme tail network analysis of cryptocurrencies and trading strategies36
Exploring the hedge and safe haven properties of cryptocurrency in policy uncertainty36
Corporate social responsibility, enterprise risk management, and real earnings management: Evidence from managerial confidence36
Commodity financialisation and price co-movement: Lessons from two centuries of evidence35
Asymmetric dynamic spillover effect between cryptocurrency and China's financial market: Evidence from TVP-VAR based connectedness approach35
Asymmetric relationship between climate policy uncertainty and energy metals: Evidence from cross-quantilogram35
Investor attention and bitcoin liquidity: Evidence from bitcoin tweets35
Is cash the panacea of the COVID-19 pandemic: Evidence from corporate performance35
Corporate environmental governance scheme and investment efficiency over the course of COVID-1935
Patterns of Spillover in Energy, Agricultural, and Metal Markets: A Connectedness Analysis for Years 1780-202035
Customer relationships, corporate social responsibility, and stock price reaction: Lessons from China during health crisis times35
The pricing efficiency of crude oil futures in the Shanghai International Exchange35
An empirical evaluation of the influential nodes for stock market network: Chinese A-shares case35
Performance of gold-backed cryptocurrencies during the COVID-19 crisis34
Corporate governance and financial reporting quality during the COVID-19 pandemic34
The impact of R&D intensity, financial constraints, and dividend payout policy on firm value34
The link between cryptocurrencies and Google Trends attention34
Environmental performance and firm financing during COVID-19 outbreaks: Evidence from SMEs34
Stock return predictability in the time of COVID-1934
Wash trading at cryptocurrency exchanges34
Retirement planning and financial literacy, at the crossroads. A bibliometric analysis34
Responses of US equity market sectors to the Silicon Valley Bank implosion34