OOIR: Observatory of International Research

Papers

(The TQCC of Finance Research Letters is 9. 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.)

Article	Citations
Financial markets under the global pandemic of COVID-19	1314
COVID-19 and finance: Agendas for future research	897
The contagion effects of the COVID-19 pandemic: Evidence from gold and cryptocurrencies	538
The role of ESG performance during times of financial crisis: Evidence from COVID-19 in China	489
Safe haven or risky hazard? Bitcoin during the Covid-19 bear market	484
Financial contagion during COVID–19 crisis	453
COVID-19 and the march 2020 stock market crash. Evidence from S&P1500	421
The impact of COVID-19 on emerging stock markets	406
Infected Markets: Novel Coronavirus, Government Interventions, and Stock Return Volatility around the Globe	378
COVID-19 and stock market volatility: An industry level analysis	291
COVID-19 and the United States financial markets’ volatility	285
Does financial inclusion impact CO2 emissions? Evidence from Asia	273
Co-movement of COVID-19 and Bitcoin: Evidence from wavelet coherence analysis	262
Heterogeneous impacts of wars on global equity markets: Evidence from the invasion of Ukraine	242
Deaths, panic, lockdowns and US equity markets: The case of COVID-19 pandemic	228
COVID-19 lockdowns, stimulus packages, travel bans, and stock returns	218
Asymmetric dependence between stock market returns and news during COVID-19 financial turmoil	186
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 markets	184
Does ESG certification add firm value?	181
Time-frequency comovement among green bonds, stocks, commodities, clean energy, and conventional bonds	180
How the cryptocurrency market has performed during COVID 19? A multifractal analysis	176
Stock markets and the COVID-19 fractal contagion effects	176
Developing Low Carbon Finance Index: Evidence From Developed and Developing Economies	176
Did Congress trade ahead? Considering the reaction of US industries to COVID-19	156

Does the digital transformation of enterprises affect stock price crash risk?	152
Trade openness and economic growth quality of China: Empirical analysis using ARDL model	151
ChatGPT for (Finance) research: The Bananarama Conjecture	151
Freedom and stock market performance during Covid-19 outbreak	151
Systemic risk: The impact of COVID-19	149
Is non-fungible token pricing driven by cryptocurrencies?	145
Price reaction, volatility timing and funds’ performance during Covid-19	144
Safe haven in GFC versus COVID-19: 100 turbulent days in the financial markets	141
Market reactions to the arrival and containment of COVID-19: An event study	139
Covid-19 and Optimal Portfolio Selection for Investment in Sustainable Development Goals	139
The bubble contagion effect of COVID-19 outbreak: Evidence from crude oil and gold markets	138
Examining the interrelatedness of NFTs, DeFi tokens and cryptocurrencies	134
The cryptocurrency uncertainty index	133
Banking goes digital: The adoption of FinTech services by German households	132
Fear of the coronavirus and the stock markets	128
Geopolitical risk and the systemic risk in the commodity markets under the war in Ukraine	125
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 economies	125
How does investor attention influence the green bond market?	123
Infectious disease pandemic and permanent volatility of international stock markets: A long-term perspective	120
Can financial inclusion be an effective mitigation measure? evidence from panel data analysis of the environmental Kuznets curve	116
Green finance and decarbonization: Evidence from around the world	115
ESG rating and stock price crash risk: Evidence from China	112
Trust and stock market volatility during the COVID-19 crisis	110
Do Asian emerging stock markets react to international economic policy uncertainty and geopolitical risk alike? A quantile regression approach	108
Aye Corona! The contagion effects of being named Corona during the COVID-19 pandemic	106
The effect of fintech on banks’ credit provision to SMEs: Evidence from China	105
Impacts of the COVID-19 pandemic on financial market connectedness	105
Fertile LAND: Pricing non-fungible tokens	105
Climate policy uncertainty and the price dynamics of green and brown energy stocks	103
Industry volatility and economic uncertainty due to the COVID-19 pandemic: Evidence from wavelet coherence analysis	101
NFTs and asset class spillovers: Lessons from the period around the COVID-19 pandemic	101
The Russia-Ukraine conflict and volatility risk of commodity markets	98
Impact of economic policy uncertainty shocks on China's financial conditions	97
COVID–19 media coverage and ESG leader indices	97
Stock market returns, volatility, correlation and liquidity during the COVID-19 crisis: Evidence from the Markov switching approach	96
Corporate social responsibility (CSR) performance and green innovation: Evidence from China	95
The impact of investor attention during COVID-19 on investment in clean energy versus fossil fuel firms	94
COVID-19 and investor behavior	93
A crypto safe haven against Bitcoin	93
The new crypto niche: NFTs, play-to-earn, and metaverse tokens	92
Stock Return and the COVID-19 pandemic: Evidence from Canada and the US	92
Asymmetric relationship between green bonds and commodities: Evidence from extreme quantile approach	92
COVID−19 and oil price risk exposure	91
Evaluation of China's carbon emission trading policy from corporate innovation	91
Stock markets’ reaction to Covid-19: Moderating role of national culture	89
The influence of Bitcoin on portfolio diversification and design	89
Bitcoin volatility, stock market and investor sentiment. Are they connected?	88
Economic policy uncertainty and cryptocurrency volatility	88
The effect of political and economic uncertainty on the cryptocurrency market	88

Does digital transformation matter for corporate risk-taking?	88
Reconsidering systematic factors during the Covid-19 pandemic – The rising importance of ESG	86
The impact of COVID-19 on the degree of dependence and structure of risk-return relationship: A quantile regression approach	86
How does economic policy uncertainty affect corporate risk-taking? Evidence from China	86
The COVID-19 outbreak and stock market reactions: Evidence from Australia	85
The impact of the Russia-Ukraine conflict on energy firms: A capital market perspective	84
Investigating solutions for the development of a green bond market: Evidence from analytic hierarchy process	83
CSR and idiosyncratic risk: Evidence from ESG information disclosure	83
Corporate social responsibility and firm value: Guiding through economic policy uncertainty	83
Determinants of Spillovers between Islamic and Conventional Financial Markets: Exploring the Safe Haven Assets during the COVID-19 Pandemic	82
Does Bitcoin hedge crude oil implied volatility and structural shocks? A comparison with gold, commodity and the US Dollar	82
Russia–Ukraine war and systemic risk: Who is taking the heat?	80
International stock market risk contagion during the COVID-19 pandemic	80
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 regression	78
Volatility Spillovers between Stock and Energy Markets during Crises: A Comparative Assessment between the 2008 Global Financial Crisis and the Covid-19 Pandemic Crisis	76
Financial performance shortfall, ESG controversies, and ESG performance: Evidence from firms around the world	76
Corporate decisions in times of war: Evidence from the Russia-Ukraine conflict	75
A bibliometric review of finance bibliometric papers	75
How does the fintech sector react to signals from central bank digital currencies?	74
Covid-19 pandemic and tail-dependency networks of financial assets	74
Digital finance and corporate ESG	74
Causality of geopolitical risk on food prices: Considering the Russo–Ukrainian conflict	74
COVID-19 and safer investment bets	74
The rise of digital finance: Financial inclusion or debt trap?	73
Efficiency in the markets of crypto-currencies	73
Forecasting realized gold volatility: Is there a role of geopolitical risks?	72
The relationship between the economic policy uncertainty and the cryptocurrency market	72
Environmental regulation and green innovation: Evidence from China's carbon emissions trading policy	71
Covid-19 impact on NFTs and major asset classes interrelations: Insights from the wavelet coherence analysis	71
COVID-19 and financial market efficiency: Evidence from an entropy-based analysis	69
Trading from home: The impact of COVID-19 on trading volume around the world	69
Forecasting directional movements of stock prices for intraday trading using LSTM and random forests	69
Understanding digital bubbles amidst the COVID-19 pandemic: Evidence from DeFi and NFTs	69
Asymmetric volatility in cryptocurrency markets: New evidence from smooth transition GARCH models	68
The impact of COVID-19 on housing price: Evidence from China	68
Who raised from the abyss? A comparison between cryptocurrency and stock market dynamics during the COVID-19 pandemic	68
The impact of digital inclusive finance on sustainable economic growth in China	67
The Russo-Ukrainian war and financial markets: the role of dependence on Russian commodities	67
A three-factor pricing model for cryptocurrencies	66
Impact of Russia-Ukraine war attention on cryptocurrency: Evidence from quantile dependence analysis	65
The international spread of COVID-19 stock market collapses	65
Flight-to-quality between global stock and bond markets in the COVID era	64
Do Banks Value Green Management in China? The Perspective of the Green Credit Policy	64
The profitability of technical trading rules in the Bitcoin market	63
Corporate social responsibility, financial instability and corporate financial performance: Linear, non-linear and spillover effects – The case of the CAC 40 companies	62
Testing the safe-haven properties of gold and bitcoin in the backdrop of COVID-19: A wavelet quantile correlation approach	61
Green finance reform and corporate innovation: Evidence from China	61
Is Bitcoin really more than a diversifier? A pre- and post-COVID-19 analysis	60
Environmental regulation and foreign direct investment: Evidence from China's outward FDI	60
Trust and financial inclusion: A cross-country study	60
Global financial crisis and COVID-19: Industrial reactions	59
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 pandemic	59
COVID-19 effect on herding behaviour in European capital markets	59
Breaking barriers to innovation: The power of digital transformation	58
The impact of government intervention on corporate environmental performance: Evidence from China's national civilized city award	58
Forecasting the price of Bitcoin using deep learning	58
Can economic policy uncertainty predict exchange rate volatility? New evidence from the GARCH-MIDAS model	57
Sustainable banking: A literature review and integrative framework	57
Bitcoin: An inflation hedge but not a safe haven	57
Audit committee structure, institutional quality, and bank stability: evidence from ASEAN countries	57
A new approach for addressing endogeneity issues in the relationship between corporate social responsibility and corporate financial performance	56
The impact of Covid-19 on liquidity of emerging market bonds	56
Impacts of COVID-19 outbreak on the spillovers between US and Chinese stock sectors	55
The only certainty is uncertainty: An analysis of the impact of COVID-19 uncertainty on regional stock markets	55
Corruption in banks: A bibliometric review and agenda	54
Asymmetric effects of climate policy uncertainty, infectious diseases-related uncertainty, crude oil volatility, and geopolitical risks on green bond prices	54
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 crisis	54
Quantifying the spillover effect in the cryptocurrency market	54
The effect of revenue diversification on bank profitability and risk during the COVID-19 pandemic	54
Digital transformation and firm cost stickiness: Evidence from China	53
COVID-19 pandemic improves market signals of cryptocurrencies–evidence from Bitcoin, Bitcoin Cash, Ethereum, and Litecoin	53
When ESG meets AAA: The effect of ESG rating changes on stock returns	53
Connectedness of stock markets with gold and oil: New evidence from COVID-19 pandemic	53
Tail-risk spillovers in cryptocurrency markets	52
Do large firms just talk corporate social responsibility? - The evidence from CSR report disclosure	52
Empirical test of the impact of the digital economy on China's employment structure	52

Low-carbon financial risk factor correlation in the belt and road PPP project	52
Cryptocurrency liquidity and volatility interrelationships during the COVID-19 pandemic	51
Predicting Bitcoin returns: Comparing the roles of newspaper- and internet search-based measures of uncertainty	51
Competition and ESG practices in emerging markets: Evidence from a difference-in-differences model	51
The influence of stablecoin issuances on cryptocurrency markets	51
Fintech-based Financial Inclusion and Risk-taking of Microfinance Institutions (MFIs): Evidence from Sub-Saharan Africa	51
The economic value of NFT: Evidence from a portfolio analysis using mean–variance framework	51
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 market	50
Hedging Geopolitical Risks with Different Asset Classes: A Focus on the Russian Invasion of Ukraine	50
Does responsible investing pay during economic downturns: Evidence from the COVID-19 pandemic	49
Can CBOE gold and silver implied volatility help to forecast gold futures volatility in China? Evidence based on HAR and Ridge regression models	49
More sustainable, more productive: Evidence from ESG ratings and total factor productivity among listed Chinese firms	49
Futures market and the contagion effect of COVID-19 syndrome	49
The stock price reaction of the COVID-19 pandemic on the airline, hotel, and tourism industries	49
The development of Bitcoin futures: Exploring the interactions between cryptocurrency derivatives	49
Does financial structure affect CO2 emissions? Evidence from G20 countries	48
Cryptocurrency market efficiency in short- and long-term horizons during COVID-19: An asymmetric multifractal analysis approach	48
Greenwashing and product market competition	48
Volatility and return connectedness of cryptocurrency, gold, and uncertainty: Evidence from the cryptocurrency uncertainty indices	48
Transitions in the cryptocurrency market during the COVID-19 pandemic: A network analysis	47
ESG and Firm's Default Risk	47
Firm-specific investor sentiment and stock price crash risk	47
Does economic policy uncertainty influence executive risk-taking incentives?	47
The impact of the Russia-Ukraine conflict on market efficiency: Evidence for the developed stock market	46
How does the development of digital financial inclusion affect the total factor productivity of listed companies? Evidence from China	46
Intraday efficiency-frequency nexus in the cryptocurrency markets	46
Geopolitical risk and bank stability	45
Role of financial development for sustainable economic development in low middle income countries	45
Disclosure or action: Evaluating ESG behavior towards financial performance	45
Stock market reactions to COVID-19 lockdown: A global analysis	45
Volatility in International Sovereign Bond Markets: The role of government policy responses to the COVID-19 pandemic	45
Term spreads and the COVID-19 pandemic: Evidence from international sovereign bond markets	45
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 periods	44
COVID-19 pandemic waves and global financial markets: Evidence from wavelet coherence analysis	44
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	44
Asymmetric effects of geopolitical risk on major currencies: Russia-Ukraine tensions	44
The role of investor attention in predicting stock prices: The long short-term memory networks perspective	44
The impact of the consistency of carbon performance and carbon information disclosure on enterprise value	43
Does broadband infrastructure boost firm productivity? Evidence from a quasi-natural experiment in China	43
Corporate social performance and financial performance relationship: A data envelopment analysis approach without explicit input	43
Economic policy uncertainty and exchange rates in emerging markets: Short and long runs evidence	43
Cheap talk and cherry-picking: What ClimateBert has to say on corporate climate risk disclosures	42
Green Commitment and Stock Price Crash Risk	42
The impact of the COVID-19 pandemic on dividends	42
Economic policy uncertainty and non-performing loans: The moderating role of bank concentration	41
Anatomy of a Stablecoin’s failure: The Terra-Luna case	41
Google search volumes and the financial markets during the COVID-19 outbreak	41
The unprecedented reaction of equity and commodity markets to COVID-19	41
FinTech and financial stability: Threat or opportunity?	40
Herding behavior in conventional cryptocurrency market, non-fungible tokens, and DeFi assets.	40
COVID-19: Fear of pandemic and short-term IPO performance	40
Can internet finance alleviate the exclusiveness of traditional finance? evidence from Chinese P2P lending markets	40
Gold, bonds, and epidemics: A safe haven study	39
Inefficient investment and digital transformation: What is the role of financing constraints?	39
Price explosiveness in cryptocurrencies and Elon Musk's tweets	39
How did retail investors respond to the COVID-19 pandemic? The effect of Robinhood brokerage customers on market quality	38
Understanding Bitcoin liquidity	38
Financial services, spatial agglomeration, and the quality of urban economic growth–based on an empirical analysis of 268 cities in China	38
Time-frequency volatility spillovers between major international financial markets during the COVID-19 pandemic	38
Spillover effects of RMB exchange rate among B&R countries: Before and during COVID-19 event	38
The asymmetric effect of bitcoin on altcoins: evidence from the nonlinear autoregressive distributed lag (NARDL) model	37
Learning from SARS: Return and volatility connectedness in COVID-19	37
The reputational contagion effects of ransomware attacks	37
Investigating the marginal impact of ESG results on corporate financial performance	37
Policy uncertainty and carbon neutrality: Evidence from China	37
Calendar effects in Bitcoin returns and volatility	37
Cryptocurrency returns and the volatility of liquidity	37
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
Exploring the hedge and safe haven properties of cryptocurrency in policy uncertainty	36
Corporate social responsibility, enterprise risk management, and real earnings management: Evidence from managerial confidence	36
What drives DeFi prices? Investigating the effects of investor attention	36
Extreme risk spillover between chinese and global crude oil futures	36
Extreme tail network analysis of cryptocurrencies and trading strategies	36
Customer relationships, corporate social responsibility, and stock price reaction: Lessons from China during health crisis times	35
The pricing efficiency of crude oil futures in the Shanghai International Exchange	35
An empirical evaluation of the influential nodes for stock market network: Chinese A-shares case	35
Commodity financialisation and price co-movement: Lessons from two centuries of evidence	35
Asymmetric dynamic spillover effect between cryptocurrency and China's financial market: Evidence from TVP-VAR based connectedness approach	35
Asymmetric relationship between climate policy uncertainty and energy metals: Evidence from cross-quantilogram	35
Investor attention and bitcoin liquidity: Evidence from bitcoin tweets	35
Is cash the panacea of the COVID-19 pandemic: Evidence from corporate performance	35
Corporate environmental governance scheme and investment efficiency over the course of COVID-19	35
Patterns of Spillover in Energy, Agricultural, and Metal Markets: A Connectedness Analysis for Years 1780-2020	35
Wash trading at cryptocurrency exchanges	34
Retirement planning and financial literacy, at the crossroads. A bibliometric analysis	34
Responses of US equity market sectors to the Silicon Valley Bank implosion	34
Performance of gold-backed cryptocurrencies during the COVID-19 crisis	34
Corporate governance and financial reporting quality during the COVID-19 pandemic	34
The impact of R&D intensity, financial constraints, and dividend payout policy on firm value	34
The link between cryptocurrencies and Google Trends attention	34
Environmental performance and firm financing during COVID-19 outbreaks: Evidence from SMEs	34
Stock return predictability in the time of COVID-19	34