Finance Research Letters

Article	Citations
Repo haircuts: Market practices and the impact of minimum requirements on leverage	435
Cross-country spillover effects of interest rate and credit constraint policies	419
Unveiling the Yin and Yang of expansionary monetary policy: Differential impact on inequality in China based on a national-level survey	391
Editorial Board	336
The effect of COVID-19 vaccine on the international financial markets	333
Investor sentiment and corporate earnings management	320
How ESG engagement shapes firm life cycle progression: Evidence from U.S. data	291
Risk spillovers among energy, metals, and agriculture commodity markets: A network perspective	276
Assessing the volatility of green firms	273
Green gains: The impact of REITs' environmental performance on sustainability-linked loan interest rates	264
Community activism, Social ties and ESG campaign success	256
Corporate social anti-activism and firm stock price: Evidence from DEI program elimination	255
Regulatory reforms, share buyback and institutional monitoring of insider trading: Evidence from India	250
Determinants of stock attention and behavioral preferences: Evidence from China's retail investors	221
Online public opinion and firm investment preferences	215
A look across the big pond and into the abyss — Performance of earnout deals in Europe and in times of crisis	213
Detecting exuberance phenomena in thematic investing	210
Correlation among climate risk, climate policy uncertainty, and carbon-intensive stock markets in China	209
Impacts of gender inequality on international trade and innovation	204
Climate variability and catastrophe bond premiums	202
Breaking barriers to rural entrepreneurship: How productive credit mitigates financial exclusion	184
Are borrowing costs affected by audit market structure? Evidence from market concentration	180
Fintech, financial regulation and corporate financialization: Evidence from China	177
Why Was There More Household Stock Market Participation During the COVID-19 Pandemic?	170
Financial institution agglomeration and corporate labor allocation efficiency—Based on the context of government debt expansion	169

The role of gender in sales behaviour: Evidence from institutional financial brokerage	168
Interconnected dynamics of sustainable cryptocurrencies: Insights from transfer entropy analysis	166
Risk contagion between commodity and China's stock markets under the impact of major events	162
How the Economic Policy Uncertainty (EPU) impacts FinTech: The implication of P2P lending markets	160
Strategic IPO timing of technology innovation-driven enterprises: A differential game analysis of market returns, disclosure costs, and industry dynamics	157
Executive financial background, external audit quality and shadow banking in non-financial firms	153
Is it a matter of governance or judicial favoritism? Legal expertise at an executive level and its use in cases of corporate financial fraud	152
Invest in depth or breadth? The influence of multidisciplinary practices on the valuation and legitimation of living artists	150
Firm financialization: The role of policy inconsistency	148
Media sentiment and corporate R&D manipulation	146
Modelling taxpayers’ behaviour based on prediction of trust using sentiment analysis	145
How green screening influences risk transmission among stock-bond indices: Insight into the dependence structure	144
Does the introduction of CSR criteria into CEO incentive pay reduce their earnings management? The case of companies listed in the SBF 120	142
Environmental policies on the systematic risk of critical metals companies	140
Sentiment changes and the Monday effect	140
Small price bias in the cryptocurrency market. A cognitive bias revealed by emotions on social networks	139
Financial market reaction to the end of the right-wing populist government: The case of Poland	138
A complementary valuation model and exit multiples	137
Legal background of corporate management and corporate audit quality	136
Management equity incentives, market dynamics, and corporate R&D investment	135
ESG ratings and female corporate leadership: Evidence from African firms	134
Soybean futures responses to meteorological disaster risk —— Empirical evidence from the Chicago board of trade	132
Transmission effects of real estate risk on municipal bond spreads	132
Unconventional, conventional monetary policies, and optimal energy supply structure in China	128
Macroprudential policies, national culture, and bank systemic risk: A cross-country comparison	125
Infection, invasion, and inflation: Recent lessons	125
Can prospect theory explain anomalies in the Chinese stock market?	124
Historical Determinants of Fintech Development: Evidence from Initial Coin Offerings	124
Management buyouts in times of economic policy uncertainty	122
Learning about unprecedented events: Agent-based modelling and the stock market impact of COVID-19	122
The closed-form approximation to price basket options under stochastic interest rate	121
How do Equity Investors Assess the Efficiency of Global Financial Institutions?	119
Crises and changes: The impacts of CSR expenditure on loan and subsidy allocation in China's Pre- and Post-Pandemic periods	118
Effects of China’s capital controls on individual asset categories	117
Market reactions to layoff announcements during crises: Examining impacts and conditioners	115
Futures, provisional sales, and earnings management in the global gold mining industry	115
Does individual SREP results reveal real news?	114
Editorial Board	113
Does peer-to-peer crowdfunding boost refugee entrepreneurs?	112
Does managerial climate awareness affect green bond issuance? The moderating role of managerial myopia	109
Intellectual property law enforcement and regional cluster innovation efficiency	109
Impact of digital financial inclusion on rural revitalization	107
Ecological rule of law, financial constraints, and investment in heavily polluting enterprises	107
How good are LLMs in risk profiling?	105
Option pricing with a two-piece lognormal distribution	105
An analysis of how work stress affects employees' proactive work behavior: The moderating role of corporate financial support	104
Evaluation of the operational efficiency of internal capital markets in state-owned enterprises using big data	104
The impact of North Korean nuclear threat on stock market linkages in Northeast Asia: The case of South Korea, China, and Japan	103
The Trilogy of Ownership, Income Diversification, and Performance Nexus: Empirical Evidence from Tunisian Banks	100
Does 3D printing technology promote OFDI? Evidence from Chinese listed companies	100

Climate governance, CSR strategy, and corporate environmental decoupling	99
Does stepping-back from IFRS pay off? Evidence from European unlisted firms’ cost of debt	98
Digital finance, data elements, and artificial intelligence innovation	98
Can old sin make new shame? Stock market reactions to the release of movies re-exposing past corporate scandals	96
The equity market response to climate change litigation	96
Community resilience and house prices: A machine learning approach	96
Foreign equity lookback options with guarantees	95
Human capital and corporate social investment: The effect of public policy	94
The impact of corporate ESG performance on buyers’ bargaining power in the industrial chain: Evidence from China	93
Does war spread the herding effect in stock markets? Evidence from emerging and developed markets during the Russia-Ukraine war	93
Rescue one and sacrifice others? Corporate tunneling phenomenon under China's new delisting regulations	91
VAT credit refund policy and corporate risk-taking: Evidence from China	91
An economic definition of ‘Fear of Missing Out’ (FOMO)	89
Limit Order Book dynamics and order size modelling using Compound Hawkes Process	89
Price discovery share: An order invariant measure of price discovery	88
Inspection supervision and corporate green total factor productivity	88
Correlation impulse response functions	88
Corporate credit risk and bond yield spreads: Market reactions to the spreads	88
The impact of green investment policies on the development of new energy enterprises: Analysis based on heterogeneity and threshold effects	88
Green innovation, executives’ environmental awareness, and corporate value chain upgrading	85
Risk spillovers across energy markets: Insights from the Russia–Ukraine conflict	85
Manual task intensity and male-female wage gap: Evidence from China	84
Comparative analysis of precious metals as hedges for clean energy stocks	83
Coexistence of Bitcoin, fiat money, and risk-free bonds	83
Are gross financial inflows expansionary or contractionary? Evidence from emerging economies	82
Belt and Road Initiative: Driving innovation in tech enterprises through global value chains	81
Prediction of market value of firms with corporate sustainability performance data using machine learning models	81
Development of corporate artificial intelligence and the quality of export products	81
Impact of SciTech – Finance integration policy implementation on SME innovation performance: Mediating effect of tax burden	80
FinTech literature reviews: A hybrid approach	80
Recurrent neural network based parameter estimation of Hawkes model on high-frequency financial data	80
Do investors herd under global crises? A comparative study between Chinese and the United States stock markets	79
Bank efficiency and undesirable output: An analysis of non-performing loans in the Brazilian banking sector	79
The impact of economic policy uncertainty on IPO underpricing: Evidence from China	79
Focus on the impact and predictive analysis of digitalization and green finance on the transformation of mineral and energy companies	79
Tax Authority Enforcement and Corporate Social Security Contributions: Evidence from China	79
The Return and Volatility Connectedness of NFT Segments and Media Coverage: Fresh Evidence Based on News About the COVID-19 Pandemic	78
Is it all about noise? Investor sentiment and risk nexus: evidence from China	77
Do local innovation systems promote successful equity crowdfunding campaigns? Evidence from Italy	77
How green finance drives new-quality productivity from the perspective of Chinese modernization	77
Effects of enterprise viability on corporate green innovation performance	77
Regional social capital and stock price crash risk: Evidence from the US	77
International tax incentives, cross-border research and development, and corporate innovation performance	77
Institutional investor stability, executive equity incentives, and corporate innovation	75
Global value chain participation and income inequality within enterprises: An empirical study based on Chinese-listed companies	75
Political appointees and firms’ long-term capital market performance: Evidence from Central European countries	75
Bankruptcy court establishment and corporate risk-taking	75
Credit availability, overinvestment, and corporate innovation capability	74
Institutional investors' site visits and ESG disclosure: The mediating role of environmental legitimacy pressure	74
Valuing cryptocurrencies: A model of price and hashrate	74
Does tax policy affect corporate environmental investment?	74
Tax incentives, financial subsidies and high-quality development of enterprises	74
Exploring the effect of VAT carryforward and refund policy on enhancing innovation efficiency among China's A-share listed firms	73
Can the level of green consumption restrain listed companies’ “greenwashing” behavior? An analysis of the moderating effect of green credit	72
Value creation or political trick? An event study on anti-ESG regulations	72
Capital market openness and bank credit risk: Evidence from listed commercial banks	72
Institutional investor networks and crash risk: Evidence from China	71
Which are the factors influencing green bonds issuance? Evidence from the European bonds market	71
ESG disclosure inconsistency and tail risk	71
Peer digitalization and corporate investment decision	71
Energy transition investments and carbon emissions: asymmetric and dynamic effects across developed and emerging economies	71
Cryptocurrencies and the threat versus the act event of geopolitical risk	71
Exploring the time-varying dependence between Bitcoin and the global stock market: Evidence from a TVP-VAR approach	70
Does customer concentration affect corporate risk-taking? Evidence from China	69
Demographic change and natural interest rate of China	69
Dependences and dynamic spillovers across the crude oil and stock markets throughout the COVID-19 pandemic and Russia-Ukraine conflict: Evidence from the ASEAN+6	69
The impact of inclusive finance and education investment on new quality productivity: The nonlinear mediating effect of education development	69
Banks’ ESG disclosure: A new scoring model	68
Digital economy policy and corporate low-carbon innovation: Evidence from a quasi-natural experiment in China	68
Does smart transformation in manufacturing promote enterprise value chain upgrades?	68
Digital transformation and corporates' green technology innovation performance–The mediating role of knowledge sharing	68
A novel approach to sustainable mean-variance portfolio optimization: Accounting for ESG-related uncertainty	66
Does corporate social responsibility affect the performance of cross-border M&A of emerging market multinationals?	66
The impact of digital transformation on firm productivity: From the perspective of sustainable development	65
Media attention, information asymmetry and agribusiness ESG rating divergence	65
Firm-level perception of competition and innovation: Textual evidence from China	65
Executives' overseas backgrounds and green innovation in manufacturing enterprises	65
Cryptocurrency market efficiency in short- and long-term horizons during COVID-19: An asymmetric multifractal analysis approach	65
Does gambling culture affect firms’ investment efficiency?	65
Carbon prices and green bond markets: Global insights from quantile connectedness	65

Corporate social responsibility and credit risk	64
Climate, geopolitical, and energy market risk interconnectedness: Evidence from a new climate risk index	64
Risk disclosure and stock price crash risk: Evidence from Chinese listed firms	64
To green or not to green: The influence of board characteristics on carbon emissions	64
Population aging, digital divide, and household financial asset choices—An empirical study based on prefecture-level population census data	64
Does ESG performance improve firm creditworthiness?	64
Using machine learning Meta-Classifiers to detect financial frauds	64
Green bond and corporate environmental investment: The moderating effect of environmental concern	64
How Russian-Ukrainian geopolitical risks affect Chinese commodity and financial markets?	63
The impact of the Russia-Ukraine conflict on market efficiency: Evidence for the developed stock market	63
Does exposure to biodiversity risk drive firms’ digital transformation?	63
How digital transformation affects bank risk: Evidence from listed Chinese banks	63
Stepping forward with ease: Government debt governance as a catalyst for entrepreneurship	63
Social governance, financial regulation, and corporate investment efficiency	63
SFDR Article 9: Is it all about impact?	63
Digital transformation and labour investment efficiency: Heterogeneity across the enterprise life cycle	63
Editorial Board	62
Impact of ownership structure on corporate social responsibility investment: The mediating role of analyst coverage	62
Bank connectedness and excessive risk-taking: Some cross-country evidence	61
Editorial Board	60
Digital transformation and enterprise external pay gap: Internal mechanism and empirical evidence	60
Do other firms’ stock price crashes affect corporate investment decisions within the business group: Evidence from Korean Chaebols	60
Tracking customer risk aversion	60
Bank credit in the digital age: Expansion or excessive expansion?	59
Analysis of the impact of bank digitization process on liquidity creation and risk-taking	59
Aging, financial coverage, and agricultural economic resilience: Nonlinear dynamics and thresholds	59
Local government debt and household human capital investment	59
Financial technology development, regional marketization, and the effectiveness of criminal investigation cases	59
CEO gender and the probability that firms go public	58
The effect of financial advisor reputation on mergers and acquisitions performance	58
How do enterprise big data applications mitigate asset mispricing?	58
Reform of the administrative approval system, regional financial development, and corporate performance: An exploration of a market-oriented governance mechanism	58
Who really cares? Climate change exposure and auditor conservatism: Evidence from China	57
Cross-country spillovers of trade uncertainty and their formation mechanisms	57
Let’s have a party! - Temporal landmarks and firm behaviour: How corporate anniversaries influence managerial decisions	57
Research on the impact of industrial policy on corporate financialization	57
Does sovereign ESG shape corporate cash management in emerging markets?	57
An empirical study of risk diffusion in the cryptocurrency market based on the network analysis	57
How does digital asset allocation affect accounting information quality? A perspective from corporate profitability and ownership	57
The effectiveness of macro-prudential policies in the face of global uncertainty –the role of exchange-rate regimes	56
Seeking common ground: CSR conformity and stock liquidity	56
Price limit change and magnet effect: The role of investor attention	56
Narcissistic leaders do not share! The relationship between top managers' narcissism and the distribution of value added	56
Income volatility and household commercial insurance allocation	56
Where does corporate social capital matter the most? Evidence From the COVID-19 crisis	56
Overconfidence and US stock market returns	56
Stock return predictability in China: Power of oil price trend	56
How does local government debt governance affect corporate credit mismatches? Evidence from implementing the New Budget Law	56
Addressing climate challenges through ESG-real estate investment strategies: An asset allocation perspective	56
Can Bitcoin Investors Profit from Predictions by Crypto Experts?	56
Does minority management affect a firm's capital structure? Evidence from Japan	55
Measuring systemic risk contribution: A higher-order moment augmented approach	54
Market reaction to analyst forecasts by analysts with familyship: Evidence from South Korea	54
Asset pricing with dividend surprises	54
Is China's carbon neutrality commitment truly credible? Evidence from a natural experiment	54
Tax planning ability and the CFO's compensation	54
Time is money: An analysis of the time-to-failure in a flexible reorganization system	54
Managerial risk-taking incentives and debt diversity: Evidence from FAS 123R	53
Interlinkage between corporate social, environmental performance and financial performance: Firm-mediators in a multi-country context	53
Co-movements in sector price indexes during the COVID-19 crisis: Evidence from the US	53
Proprietary algorithmic traders and liquidity supply during the pandemic	53
COVID-19 and commodity pricing premium: Evidence from the Chinese market	53
Macroeconomic impact and stock returns' vulnerability by size, solvency, and financial distress	53
Monitoring and governance: The impact of random inspection on goodwill in China	53
The breadth of ownership and corporate earnings management	53
Forecasting volatility in commodity markets with climate risk	53
Impact of E-Banking on the Islamic bank profitability in Sub-Saharan Africa: What are the financial determinants?	53
Editorial Board	52
Is the business cycle getting hit by climate policy uncertainty in China?	52
Assessing out-of-sample performance of orthogonal portfolio rules in emerging markets	52
Digital transformation and the herd behavior of corporate investment	52
A study of the impact of cryptocurrency price volatility on the stock and gold markets	52
The industrial internet and green technology innovation	52
Corporate SDG performance and investor trading behavior	51
Changes in volatility leverage and spillover effects of crude oil futures markets affected by the 2022 Russia-Ukraine conflict	51
The dual driving mechanism of financial literacy and risky financial assets on household entrepreneurial decision-making	51
Board gender diversity and ESG performance balance in GCC firms	51
Building an index based on key SDG 12 indicators to promote the transition to a circular economy	51
Changes in stock price synchronicity driven by digital transformation: The role of media attention and accounting conservatism	51
Panacea for M&A dealmaking? Investor perceptions of earnouts	50
Does corporate social responsibility impact mergers & acquisition premia? New international evidence	50
Risk contagion of net international short-term capital flows: A volatility spillover network perspective	50
Safe haven for crude oil: Gold or currencies?	50
Dynamic tail risk connectedness among green REITs, sustainability products, and fossil energy assets under external shocks	50
Local gambling preferences and insider trading profits: Evidence from China	49
Commodity tail-risk and exchange rates	49
Media coverage and corporate green innovation	49
Exploring the black box: Board gender diversity and corporate social performance	49
Cocoon breaking: A dual-path exploration of occupational stigma in China’s insurance industry using grounded theory and structural equation model verification	49
Impact of enterprise artificial intelligence development on human capital structure	49
Marketing investment, financial leverage, and corporate investment efficiency	49
Fiscal decentralization and urban-rural inequality of income acquisition opportunities: Micro evidence from China	49
Does dual-class share structure increase risk-taking? Evidence from Chinese firms in the United States	49
Climate risk perception, female directors and greenwashing	49
Stock bubbles under sudden public crises: A perspective from the excessive financialization of firms	48