OOIR: Observatory of International Research

Papers

(The TQCC of Finance Research Letters is 8. 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 2020-11-01 to 2024-11-01.)

Article	Citations
The role of ESG performance during times of financial crisis: Evidence from COVID-19 in China	652
Financial contagion during COVID–19 crisis	504
COVID-19 and the march 2020 stock market crash. Evidence from S&P1500	471
COVID-19 and stock market volatility: An industry level analysis	338
COVID-19 and the United States financial markets’ volatility	313
Heterogeneous impacts of wars on global equity markets: Evidence from the invasion of Ukraine	301
Co-movement of COVID-19 and Bitcoin: Evidence from wavelet coherence analysis	280
Does ESG certification add firm value?	258
The impact of the Russia-Ukraine conflict on the connectedness of financial markets	246
Deaths, panic, lockdowns and US equity markets: The case of COVID-19 pandemic	243
COVID-19 lockdowns, stimulus packages, travel bans, and stock returns	237
ChatGPT for (Finance) research: The Bananarama Conjecture	233
Time-frequency comovement among green bonds, stocks, commodities, clean energy, and conventional bonds	229
Does the digital transformation of enterprises affect stock price crash risk?	208
Stock markets and the COVID-19 fractal contagion effects	187
Developing Low Carbon Finance Index: Evidence From Developed and Developing Economies	182
Geopolitical risk and the systemic risk in the commodity markets under the war in Ukraine	180
Trade openness and economic growth quality of China: Empirical analysis using ARDL model	172
Is non-fungible token pricing driven by cryptocurrencies?	172
The cryptocurrency uncertainty index	165
Examining the interrelatedness of NFTs, DeFi tokens and cryptocurrencies	160
Market reactions to the arrival and containment of COVID-19: An event study	156
Does digital transformation matter for corporate risk-taking?	155
The role of financial deepening and green technology on carbon emissions: Evidence from major OECD economies	153
ESG rating and stock price crash risk: Evidence from China	152

Climate policy uncertainty and the price dynamics of green and brown energy stocks	150
Safe haven in GFC versus COVID-19: 100 turbulent days in the financial markets	148
Covid-19 and Optimal Portfolio Selection for Investment in Sustainable Development Goals	148
The bubble contagion effect of COVID-19 outbreak: Evidence from crude oil and gold markets	146
Green finance and decarbonization: Evidence from around the world	146
The Russia-Ukraine conflict and volatility risk of commodity markets	142
Infectious disease pandemic and permanent volatility of international stock markets: A long-term perspective	140
Are Bitcoin and Ethereum safe-havens for stocks during the COVID-19 pandemic?	139
Can financial inclusion be an effective mitigation measure? evidence from panel data analysis of the environmental Kuznets curve	137
Digital finance and corporate ESG	130
Trust and stock market volatility during the COVID-19 crisis	128
Corporate social responsibility (CSR) performance and green innovation: Evidence from China	125
The effect of fintech on banks’ credit provision to SMEs: Evidence from China	124
Financial performance shortfall, ESG controversies, and ESG performance: Evidence from firms around the world	121
NFTs and asset class spillovers: Lessons from the period around the COVID-19 pandemic	120
How does economic policy uncertainty affect corporate risk-taking? Evidence from China	117
The new crypto niche: NFTs, play-to-earn, and metaverse tokens	116
The rise of digital finance: Financial inclusion or debt trap?	116
Impacts of the COVID-19 pandemic on financial market connectedness	116
Fertile LAND: Pricing non-fungible tokens	116
COVID–19 media coverage and ESG leader indices	112
Industry volatility and economic uncertainty due to the COVID-19 pandemic: Evidence from wavelet coherence analysis	112
The effect of political and economic uncertainty on the cryptocurrency market	111
The impact of the Russia-Ukraine conflict on energy firms: A capital market perspective	111
Aye Corona! The contagion effects of being named Corona during the COVID-19 pandemic	110
Evaluation of China's carbon emission trading policy from corporate innovation	107
Economic policy uncertainty and cryptocurrency volatility	106
Bitcoin volatility, stock market and investor sentiment. Are they connected?	105
Reconsidering systematic factors during the Covid-19 pandemic – The rising importance of ESG	105
Asymmetric relationship between green bonds and commodities: Evidence from extreme quantile approach	105
CSR and idiosyncratic risk: Evidence from ESG information disclosure	105
A bibliometric review of finance bibliometric papers	105
A crypto safe haven against Bitcoin	105
International stock market risk contagion during the COVID-19 pandemic	104
The impact of investor attention during COVID-19 on investment in clean energy versus fossil fuel firms	103
Stock market returns, volatility, correlation and liquidity during the COVID-19 crisis: Evidence from the Markov switching approach	103
Russia–Ukraine war and systemic risk: Who is taking the heat?	102
Causality of geopolitical risk on food prices: Considering the Russo–Ukrainian conflict	102
Does geopolitical risk matter for global asset returns? Evidence from quantile-on-quantile regression	101
COVID-19 and investor behavior	101
The influence of Bitcoin on portfolio diversification and design	100
Stock Return and the COVID-19 pandemic: Evidence from Canada and the US	99
Stock markets’ reaction to Covid-19: Moderating role of national culture	99
COVID−19 and oil price risk exposure	98
Determinants of Spillovers between Islamic and Conventional Financial Markets: Exploring the Safe Haven Assets during the COVID-19 Pandemic	97
Corporate decisions in times of war: Evidence from the Russia-Ukraine conflict	96
More sustainable, more productive: Evidence from ESG ratings and total factor productivity among listed Chinese firms	94
Volatility Spillovers between Stock and Energy Markets during Crises: A Comparative Assessment between the 2008 Global Financial Crisis and the Covid-19 Pandemic Crisis	92
Environmental regulation and green innovation: Evidence from China's carbon emissions trading policy	92
The COVID-19 outbreak and stock market reactions: Evidence from Australia	91

Testing the safe-haven properties of gold and bitcoin in the backdrop of COVID-19: A wavelet quantile correlation approach	90
The impact of COVID-19 on the Chinese stock market: Sentimental or substantial?	87
The impact of digital inclusive finance on sustainable economic growth in China	86
The Russo-Ukrainian war and financial markets: the role of dependence on Russian commodities	86
Forecasting directional movements of stock prices for intraday trading using LSTM and random forests	85
Covid-19 pandemic and tail-dependency networks of financial assets	84
Impact of Russia-Ukraine war attention on cryptocurrency: Evidence from quantile dependence analysis	84
Covid-19 impact on NFTs and major asset classes interrelations: Insights from the wavelet coherence analysis	84
Who raised from the abyss? A comparison between cryptocurrency and stock market dynamics during the COVID-19 pandemic	83
How does the fintech sector react to signals from central bank digital currencies?	83
Asymmetric effects of climate policy uncertainty, infectious diseases-related uncertainty, crude oil volatility, and geopolitical risks on green bond prices	81
Breaking barriers to innovation: The power of digital transformation	79
When ESG meets AAA: The effect of ESG rating changes on stock returns	79
COVID-19 and financial market efficiency: Evidence from an entropy-based analysis	79
Digital transformation and firm cost stickiness: Evidence from China	79
Bitcoin: An inflation hedge but not a safe haven	78
Understanding digital bubbles amidst the COVID-19 pandemic: Evidence from DeFi and NFTs	78
Green finance reform and corporate innovation: Evidence from China	78
Empirical test of the impact of the digital economy on China's employment structure	78
Hedging Geopolitical Risks with Different Asset Classes: A Focus on the Russian Invasion of Ukraine	76
The impact of government intervention on corporate environmental performance: Evidence from China's national civilized city award	76
How do stock, oil, and economic policy uncertainty influence the green bond market?	75
The impact of COVID-19 on housing price: Evidence from China	75
Trading from home: The impact of COVID-19 on trading volume around the world	74
ESG ETFs and the COVID-19 stock market crash of 2020: Did clean funds fare better?	73
Forecasting the price of Bitcoin using deep learning	73
Flight-to-quality between global stock and bond markets in the COVID era	73
The international spread of COVID-19 stock market collapses	72
COVID-19 effect on herding behaviour in European capital markets	71
Role of financial development for sustainable economic development in low middle income countries	71
Global financial crisis and COVID-19: Industrial reactions	71
Sustainable banking: A literature review and integrative framework	70
Environmental regulation and foreign direct investment: Evidence from China's outward FDI	70
Is Bitcoin really more than a diversifier? A pre- and post-COVID-19 analysis	70
Cheap talk and cherry-picking: What ClimateBert has to say on corporate climate risk disclosures	69
The only certainty is uncertainty: An analysis of the impact of COVID-19 uncertainty on regional stock markets	68
A new approach for addressing endogeneity issues in the relationship between corporate social responsibility and corporate financial performance	67
Fintech-based Financial Inclusion and Risk-taking of Microfinance Institutions (MFIs): Evidence from Sub-Saharan Africa	67
ESG and Firm's Default Risk	66
Does responsible investing pay during economic downturns: Evidence from the COVID-19 pandemic	66
Competition and ESG practices in emerging markets: Evidence from a difference-in-differences model	65
How does CSR mediate the relationship between culture, religiosity and firm performance?	64
The effect of revenue diversification on bank profitability and risk during the COVID-19 pandemic	64
Quantifying the spillover effect in the cryptocurrency market	64
Systemic risk-sharing framework of cryptocurrencies in the COVID–19 crisis	63
Volatility and return connectedness of cryptocurrency, gold, and uncertainty: Evidence from the cryptocurrency uncertainty indices	63
Geopolitical risk and bank stability	63
Audit committee structure, institutional quality, and bank stability: evidence from ASEAN countries	63
COVID-19 pandemic improves market signals of cryptocurrencies–evidence from Bitcoin, Bitcoin Cash, Ethereum, and Litecoin	62
The influence of stablecoin issuances on cryptocurrency markets	62
Investigating the marginal impact of ESG results on corporate financial performance	62
Stock market reactions to COVID-19 lockdown: A global analysis	61
Anatomy of a Stablecoin’s failure: The Terra-Luna case	61
Impacts of COVID-19 outbreak on the spillovers between US and Chinese stock sectors	61
Inefficient investment and digital transformation: What is the role of financing constraints?	61
Herding behavior in conventional cryptocurrency market, non-fungible tokens, and DeFi assets.	61
What caused global stock market meltdown during the COVID pandemic–Lockdown stringency or investor panic?	61
Disclosure or action: Evaluating ESG behavior towards financial performance	60
The impact of Covid-19 on liquidity of emerging market bonds	60
FinTech and financial stability: Threat or opportunity?	60
The economic value of NFT: Evidence from a portfolio analysis using mean–variance framework	60
Cryptocurrency liquidity and volatility interrelationships during the COVID-19 pandemic	60
Do large firms just talk corporate social responsibility? - The evidence from CSR report disclosure	59
How does the development of digital financial inclusion affect the total factor productivity of listed companies? Evidence from China	59
Asymmetric effects of geopolitical risk on major currencies: Russia-Ukraine tensions	59
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 crisis	59
Tail-risk spillovers in cryptocurrency markets	59
Connectedness of stock markets with gold and oil: New evidence from COVID-19 pandemic	59
Cryptocurrency market efficiency in short- and long-term horizons during COVID-19: An asymmetric multifractal analysis approach	58
The impact of the Russia-Ukraine conflict on market efficiency: Evidence for the developed stock market	58
Does investor sentiment on social media provide robust information for Bitcoin returns predictability?	58
COVID-19 pandemic waves and global financial markets: Evidence from wavelet coherence analysis	57
Greenwashing and product market competition	57
The stock price reaction of the COVID-19 pandemic on the airline, hotel, and tourism industries	56
Institutional ownership heterogeneity and ESG performance: Evidence from China	56
Predicting Bitcoin returns: Comparing the roles of newspaper- and internet search-based measures of uncertainty	56
The impact of the consistency of carbon performance and carbon information disclosure on enterprise value	55
The impacts of the COVID-19 pandemic on China's green bond market	55
Transitions in the cryptocurrency market during the COVID-19 pandemic: A network analysis	55
Can bonds hedge stock market risks? Green bonds vs conventional bonds	54

Firm-specific investor sentiment and stock price crash risk	54
Does Confucian culture influence corporate R&D investment? Evidence from Chinese private firms	54
Does broadband infrastructure boost firm productivity? Evidence from a quasi-natural experiment in China	54
Futures market and the contagion effect of COVID-19 syndrome	54
The correlation between the stock market and Bitcoin during COVID-19 and other uncertainty periods	54
Does financial structure affect CO2 emissions? Evidence from G20 countries	53
Corporate social performance and financial performance relationship: A data envelopment analysis approach without explicit input	52
The role of investor attention in predicting stock prices: The long short-term memory networks perspective	52
Does economic policy uncertainty influence executive risk-taking incentives?	51
The impact of the COVID-19 pandemic on dividends	51
Asymmetric relationship between climate policy uncertainty and energy metals: Evidence from cross-quantilogram	51
Volatility in International Sovereign Bond Markets: The role of government policy responses to the COVID-19 pandemic	50
Digital transformation and manufacturing companies’ ESG responsibility performance	50
Can internet finance alleviate the exclusiveness of traditional finance? evidence from Chinese P2P lending markets	50
Financial inclusion, economic growth and the role of digital technology	50
Economic policy uncertainty and exchange rates in emerging markets: Short and long runs evidence	50
Environmental regulation and green innovation: Evidence from heavily polluting firms in China	50
Calendar effects in Bitcoin returns and volatility	50
Corporate social responsibility, enterprise risk management, and real earnings management: Evidence from managerial confidence	49
Is cash the panacea of the COVID-19 pandemic: Evidence from corporate performance	49
Good for the planet, good for the wallet: The ESG impact on financial performance in India	49
Term spreads and the COVID-19 pandemic: Evidence from international sovereign bond markets	49
Corporate executives’ incentives and ESG performance	49
Green Commitment and Stock Price Crash Risk	49
Asymmetric dynamic spillover effect between cryptocurrency and China's financial market: Evidence from TVP-VAR based connectedness approach	49
Cryptocurrency returns and the volatility of liquidity	49
Economic policy uncertainty and non-performing loans: The moderating role of bank concentration	49
The power of ESG transparency: The effect of the new SFDR sustainability labels on mutual funds and individual investors	48
Customer relationships, corporate social responsibility, and stock price reaction: Lessons from China during health crisis times	48
Policy uncertainty and carbon neutrality: Evidence from China	48
The unprecedented reaction of equity and commodity markets to COVID-19	48
Extreme risk spillover between chinese and global crude oil futures	47
Corporate governance and financial reporting quality during the COVID-19 pandemic	47
Corporate social responsibility and credit risk	47
Exploring the hedge and safe haven properties of cryptocurrency in policy uncertainty	46
How did retail investors respond to the COVID-19 pandemic? The effect of Robinhood brokerage customers on market quality	46
Price explosiveness in cryptocurrencies and Elon Musk's tweets	46
Learning from SARS: Return and volatility connectedness in COVID-19	45
Sectoral connectedness: New evidence from US stock market during COVID-19 pandemics	45
How has the relationship between oil and the US stock market changed after the Covid-19 crisis?	45
The role of Environmental, Social, and Governance (ESG) in predicting bank financial distress	45
Is geopolitical risk priced in the cross-section of cryptocurrency returns?	45
Responses of US equity market sectors to the Silicon Valley Bank implosion	45
Time-frequency volatility spillovers between major international financial markets during the COVID-19 pandemic	45
Greenwashing and credit spread: Evidence from the Chinese green bond market	44
Pricing of Green Labeling: A Comparison of Labeled and Unlabeled Green Bonds	44
Corporate maturity mismatch and enterprise digital transformation: Evidence from China	44
Google search volumes and the financial markets during the COVID-19 outbreak	43
Corporate financialization and fixed investment rate: Evidence from China	43
COVID-19: Fear of pandemic and short-term IPO performance	43
Spillover effects of RMB exchange rate among B&R countries: Before and during COVID-19 event	43
Does Fintech credit substitute for traditional credit? Evidence from 78 countries	43
Retirement planning and financial literacy, at the crossroads. A bibliometric analysis	43
Trade policy uncertainty and its impact on the stock market -evidence from China-US trade conflict	43
Extreme tail network analysis of cryptocurrencies and trading strategies	43
Environmental performance and firm financing during COVID-19 outbreaks: Evidence from SMEs	43
Do precious metals act as hedges or safe havens for China's financial markets?	43
What drives DeFi prices? Investigating the effects of investor attention	42
Gold, bonds, and epidemics: A safe haven study	42
Evidence from a multiple and partial wavelet analysis on the impact of geopolitical concerns on stock markets in North-East Asian countries	42
Financial services, spatial agglomeration, and the quality of urban economic growth–based on an empirical analysis of 268 cities in China	42
Border disputes and heterogeneous sectoral returns: An event study approach	42
The link between cryptocurrencies and Google Trends attention	42
The impact of R&D intensity, financial constraints, and dividend payout policy on firm value	42
The asymmetric contagion effect between stock market and cryptocurrency market	41
Adoption of digital technologies for micro and small business in Indonesia	41
Investor attention and bitcoin liquidity: Evidence from bitcoin tweets	41
Volatility spillovers between stock, bond, oil, and gold with portfolio implications: Evidence from China	41
A factor approach to the performance of ESG leaders and laggards	41
Can geopolitical risks excite Germany economic policy uncertainty: Rethinking in the context of the Russia-Ukraine conflict	41
Understanding Bitcoin liquidity	41
The impact of operating flexibility on firms’ performance during the COVID-19 outbreak: Evidence from China	41
Corporate environmental governance scheme and investment efficiency over the course of COVID-19	41
Does corporate social responsibility help mitigate firm-level climate change risk?	40
Asymmetric connectedness across Asia-Pacific currencies: Evidence from time-frequency domain analysis	40
The reputational contagion effects of ransomware attacks	40
The impact of COVID-19 on firm innovation: Evidence from Chinese listed companies	40
Trade volume affects bitcoin energy consumption and carbon footprint	40
Geopolitical risk and stock market volatility: A global perspective	40
The asymmetric effect of bitcoin on altcoins: evidence from the nonlinear autoregressive distributed lag (NARDL) model	40
Green credit and corporate ESG performance: Evidence from China	40
Corporate site visits, private monitoring and fraud: Evidence from China	40
Managerial myopia and firm productivity: Evidence from China	39
Environmental regulation and corporate financial asset allocation: A natural experiment from the new environmental protection law in China	39
Response of stock market volatility to COVID-19 announcements and stringency measures: A comparison of developed and emerging markets	39
COVID-19, cryptocurrencies bubbles and digital market efficiency: sensitivity and similarity analysis	39
Repercussions of the Silicon Valley Bank collapse on global stock markets	38
Russia’s ruble during the onset of the Russian invasion of Ukraine in early 2022: The role of implied volatility and attention	38
Wash trading at cryptocurrency exchanges	38
Realised volatility connectedness among Bitcoin exchange markets	38
High-carbon screening out: A DCC-MIDAS-climate policy risk method	38
Did the collapse of Silicon Valley Bank catalyze financial contagion?	38
An empirical evaluation of the influential nodes for stock market network: Chinese A-shares case	37
Brand equity and the Covid-19 stock market crash: Evidence from U.S. listed firms	37
Stock return predictability in the time of COVID-19	37