Emerging Markets Review

Article	Citations
Does time-varying risk aversion sentiment matter in the connectedness among Sub-Saharan African bond markets?	180
What drives the growth of shadow banks? Evidence from emerging markets	90
Fintech innovation: Is it beneficial or detrimental to financial inclusion and financial stability? A systematic literature review and research directions	79
Financial statement fraud, recidivism and punishment	75
Does air pollution influence investor trading behavior? Evidence from China	69
Corrigendum to “Endogenous market development for government securities in lower-income economies” [Emerging Markets Review 50 (2022) 100844]	63
The value of independent directors: Evidence from China	59
The imprint effect of initial institutional environments and bank financing in family businesses	51
Borrowing constraints, financial development and the aggregate savings: Theory and evidence	49
Local credit in Brazil: The role of digital connectivity and education	49
Media coverage of startups and venture capital investments	47
Impact of energy restructuring on green technology innovation in the context of climate policy uncertainty	43
The impact of common ownership between banks and firms on corporate ESG performance: Evidence from China	41
Bank risk-taking and competition in developing banking markets: Does efficiency level matter? Evidence from Africa	36
Bank board network and financial stability in emerging markets	36
Inflation and west African sectoral stock price indices: An asymmetric kernel method analysis	35
Impacts of COVID-19 pandemic on corporate cash holdings: Evidence from Korea	35
Does managerial networking impinge our morality in Guanxi context? The moderating effect of corruption perception	35
Making differences work: Financial fraud detection based on multi-subject perceptions	34
Share pledging and stock price synchronicity: Evidence from China	33
Anti-corruption campaign and corporate cash holdings: Evidence from China	33
Managers' individualistic culture and trade credit	32
Are Latin American stock markets connected? Exploring spillovers and the impact of risk factors	32
Global monetary policy surprises and their transmission to emerging market economies: An external VAR analysis	30
Safety nets and investment choices	30

Financial fraud detection for Chinese listed firms: Does managers' abnormal tone matter?	29
Higher education expansion and the adoption of robots in China	28
Does the nature of political connection matter for corporate social responsibility engagement? Evidence from China	27
Residual state ownership, foreign ownership and firms' financing patterns	27
Pooling wisdom: The impact of investors' private information transmission on corporate investment efficiency	27
The dark side of Bitcoin: Do Emerging Asian Islamic markets help subdue the ethical risk?	26
Predictability of risk appetite in Turkey: Local versus global factors	26
What drives portfolio capital inflows into emerging market economies? The role of the Fed's and ECB's balance sheet policies	26
Editorial Board	25
Board generational diversity in emerging markets	25
Unintended consequences: Examining the effects of government digital regulation on corporate fintech innovation in China	24
Spillovers and connectedness among BRICS stock markets, cryptocurrencies, and uncertainty: Evidence from the quantile vector autoregression network	23
Fintech competencies in emerging markets: Cognitive hybrid decision-making approach	22
The Effects of Monetary Policy on Capital Flows: An Emerging Market Survey	22
Antiquity, capitalism & development: The finance-growth perspective	22
Financial crisis, global liquidity and trade credit channel: Evidence from Türkiye	21
CEO facial masculinity, fraud, and ESG: Evidence from South Korea	21
Systemic risk spillovers and the determinants in the stock markets of the Belt and Road countries	21
Growth-mindset financial education and labor supply of low-income women: An RCT evidence from rural China	21
Trade liberalization, regional trade openness degree, and foreign direct investment:Evidence from China	21
Finance dependence and exchange rate pass-through: Empirical evidence from China	20
Risk spillover of banking across regions: Evidence from the belt and road countries	20
Dynamic connectedness between global commodity sectors, news sentiment, and sub-Saharan African equities	20
The value of official business group affiliation: Evidence from a change in Korean chaebol designation policy	19
Financial intermediation around national elections: Evidence of state-owned banks as credit smoothers	18
Editorial Board	18
CEOs' hometown connections and corporate risk-taking: Evidence from China	17
Editorial Board	17
Heterogeneous uncertainty matters! Evidence based on firms' cost management decisions	16
Government subsidies and firm performance: Evidence from high-tech start-ups in China	16
The dog that didn't bite: Sudden Stops in Emerging and Developing Economies during COVID-19	16
Do firms manipulate earnings after winning public-private partnership bids? Evidence from China	15
Corrigendum to “Do management climate change concerns mitigate greenwashing? Evidence from China” [Emerging Markets Review 67 (2025) 101308]	15
A financial risk meter for China	15
Political favoritism towards resource allocation: Evidence of grants by natural science foundation in China	15
How does financial inclusion affect bank stability in emerging economies?	15
Does government transparency shape firm decentralization? Evidence from a natural experiment in China	15
Family firms and risk taking: Does the integration of ESG practices matter?	15
Farm location and occupational choices in Sub-Saharan Africa: Implications for agricultural households in Tanzania	14
Are business groups different from other family firms? Evidence from corporate investments during political uncertainty	14
Turkey: From a thriving economic past towards a rugged future? - An empirical analysis on the Turkish financial markets	14
Conditional dependence structure and risk spillovers between Bitcoin and fiat currencies	14
Greenium in the Chinese corporate bond market	14
Central bank swap arrangements and exchange rate volatility: Evidence from China	14
Stock liquidity and investment efficiency: Evidence from the split-share structure reform in China	14
Does political turnover affect corporate investment? Evidence from China	13
Uncertainty shocks and financial conditions in Latin-American countries	13
Banking market power and its determinants: New insights from MENA countries	13
Demographic transition and financial assets	13
Does asynchronous market update matter? Re-examining the price discovery of stock index and futures in China	13

Does the green loan policy boost greener production? – Evidence from Chinese firms	13
Interconnectedness and systemic risk in financial networks: Fresh evidence from India	13
Intangible assets, corporate tax credits and pharmaceutical establishments	13
The effect of stimulus policy on lending behavior and bank risk: Evidence from the Chinese banking sector	12
How bilateral investment treaties affect cross-border mergers and acquisitions: Novel evidence from China's internationalization	12
Machine learning and the cross-section of emerging market stock returns	12
Board centrality and environmental disclosures: Evidence from the polluting Industries in China	12
Air pollution, political costs, and earnings management	12
The effect of currency risk on crypto asset utilization in Türkiye	12
Competition law reform and firm performance: Evidence from developing countries	11
Editorial Board	11
Climate change, governance, and macroeconomic stability: Empirical analysis in a panel of African countries	11
On the communication efforts of the central banks in emerging economies: The case of India	11
Women to women: Enabling innovation and firm performance in developing countries	11
Corporate investment and shadow banking channel of monetary policy	11
Fintech business and corporate social responsibility practices	11
FinTech: The disruptive force reducing bank competition pressure	11
Banking relationship and default priority in consumer credit: Evidence from Thai microdata	10
Trade sanctions and global value chains: The role of financial development and capital openness in emerging markets	10
The effects of decarbonization on corporate cash holdings	10
The impact of proximity within elite corporate networks on the Shariah governance-firm performance nexus: Evidence from the global Shariah elite	10
Retail attention, retail trades, and stock price crash risk	10
Unified or divided? Conflicting interests of controlling shareholders in corporate tax avoidance	10
Spillover effects of the recent US monetary policy shocks on the South African economy: The role of monetary and fiscal policy coordination	10
Financial inclusion and women economic empowerment in Ghana	10
Does a sustainability risk premium exist where it matters the most?	10
Net privatisation prices in Brazil	10
Factor investing in Brazil: Diversifying across factor tilts and allocation strategies	10
The impacts of green bonds on the green innovation: Evidence from the corporate green transformation in China	10
Evaluation of the space-time effects of Covid-19 on household loans and savings in Romania - A spatial panel data approach at county level	9
Trade reform, infrastructure investment, and structural transformation in Africa: Evidence from Guinea-Bissau	9
How effective is the cash conversion cycle in improving firm performance? Evidence from BRICS	9
How credit constrained are family-owned SMEs in Arab countries?	9
Corporate digital transformation and idiosyncratic risk: Based on corporate governance perspective	9
FX-hedging for Latin American investors	9
Will Southeast Asia be the next global manufacturing hub? A multiway cointegration, causality, and dynamic connectedness analyses	9
Unintended investor sentiment on bank financial products: Evidence from China	9
Economic policy uncertainty, non-financial enterprises' shadow banking activities and stock price crash risk	9
Stock market index enhancement via machine learning	9
Impact of cultural trade on foreign direct investment: Evidence from China	9
IPOhelper: Mining features in registration statements for listing prediction of technological innovation companies	8
Liquidity risk in FinTech lending: Early impact of the COVID-19 pandemic on the P2P lending market	8
The clarity of monetary policy communication and financial market volatility in developing economies	8
The impact of currency depreciation and foreign exchange positions on bank lending: Evidence from an emerging market	8
Climate policy and China's external balances	8
Decentralized finance (literacy) today and in 2034: Initial insights from Singapore and beyond	7
The intention to use cryptocurrency: A meta-analysis of what we know	7
Shadow banking and loan pricing of commercial banks: Evidence from China	7
Different lies to different audiences: Tax avoidance versus earnings inflation	7
Does financial liberalization reduce income inequality? Evidence from Africa	7
Tail-event driven NETwork dependence in emerging markets	7
Are FX communications effective? Evidence from emerging markets	7
Does party organization embeddedness boost corporate environmental performance?	7
Emerging equity markets in a globalized world	7
Beyond religion and culture: The economic consequences of the institutionalization of sharia law	6
Does compliance with screening standards affect the performance of firms?	6
Enforcement actions and systemic risk	6
How does technological progress affect provincial financial resilience? Evidence at the provincial level in China	6
Star analyst activities and stock price synchronicity: Korean equity market reforms	6
Public bank lending in Africa in times of crisis	6
To protect or to hide-an investigation on corporate redacted disclosure motives under new FAST act regulation	6
Origin matters: Institutional imprinting and family firm innovation in China	6
Editorial Board	6
Hidden costs of separation: Exploring the effect of left-behind experiences on financial market participation in China	6
Corrigendum to “Enforcement actions and systemic risk” [Emerging Markets Review 59 (2024) 101115]	6
Interpersonal versus interbank lending networks: The role of intermediation in risk-sharing	6
Optimal central banking policies: Envisioning the post-digital yuan economy with loan prime rate-setting	6
Climate risks, balance-of-payments constraints and central banking in emerging economies – Insights from Nigeria	6
House price co-movement and labor migration: Evidence from China	6
Credit risk in Islamic microfinance institutions: The role of women, groups, and rural borrowers	6
Nonlinear network connectedness: Assessing financial risk transmission in MENA and influence of external financial conditions	6
Macroprudential policy and bank systemic risk: Does inflation targeting matter?	5
Collateral eligibility of credit claims and bank liquidity creation: Evidence from China	5
Editorial Board	5
Speculative trading, stock returns and asset pricing anomalies	5
Risk substitution in cryptocurrencies: Evidence from BRICS announcements	5
Welcome letter from the editor-in-chief	5
Carbon emissions and audit fees: Evidence from emerging markets	5
CEO characteristics and capital structure dynamics: Evidence from a transitional economy	5
Integrity atmosphere and the cost of equity: Evidence from China	5

Corporate governance of weak stakeholders: Minority investors and investment efficiency	5
Does bank efficiency affect the bank lending channel in China?	5
Other people's money: A comparison of institutional investors	5
Bank branching deregulation and the credit risk of the regional banking sector: Evidence from city commercial banks in China	5
Loan spreads over the credit cycle	5
Combating the rent-seeking among enterprises in China's emissions trading system	5
Editorial Board	5
A machine learning approach for comparing the largest firm effect	5
Social progress, business formation, and access to investment capital	5
Evidence of arbitrage trading activity: The case of Chinese metal futures contracts	5
Investment under anticorruption: Evidence from the high-profile anticorruption campaign in Vietnam	4
Impact of asymmetry on exchange rate determination: The role of fundamentals	4
Do corporate environmental violations affect trade credit? Evidence from China	4
Dynamic linkage between the Chinese and global stock markets: A normal mixture approach	4
Spillovers of U.S. monetary policy uncertainty on inflation targeting emerging economies	4
Growing pains: Vietnamese firms' operational efficiency and transition under the CPTPP	4
How does CEO famine experience affect corporate labour cost stickiness?	4
Machine learning portfolios with equal risk contributions: Evidence from the Brazilian market	4
Regulators' work experience at local companies and SOEs' investment efficiency: Evidence from provincial SASAC leaders	4
Doom loops in Latin America	4
Institutional conditions, economic policy uncertainty and foreign institutional investment in China	4
How does Russia's economy affect the region? Transmission channels and policy options	4
Environmental regulations and innovation for sustainability? Moderating effect of political connections	4
Effect of climate-related risk on the costs of bank loans: Evidence from syndicated loan markets in emerging economies	4
Effect of accounting information manipulation on innovation: Evidence from China	4
Demographic shifts and the strategic use of flexible off-budget debt tools	4
CSR news and stock prices: A fine-grained analysis in an underexamined Muslim setting	4
The gambling preference and stock price: Evidence from China's stock market	4
Culture imprint and gambling preference: Evidence from individual investors' trading in the Chinese stock market	4
The Nexus among board diversity and bank stability: Implications from gender, nationality and education	4
Cash holdings of minority family businesses in Indonesia	4
Global commodity and equity markets spillovers to Africa during the COVID-19 pandemic	4
The impact of institutional investors' corporate site visits on corporate social responsibility	4
Threshold effects, technology purchasing, and firm outcomes: An absorptive capacity perspective	3
Political capital and physical capital: Substitute or complement? Evidence from China's anti-corruption campaign	3
Global value chains in sub-Saharan Africa: The role of business regulations, policies and institutions	3
Diversification and financialization of non-financial corporations: Evidence from China	3
Modelling the demand for financial assets: The case of Sri Lanka	3
Credit financing, accounting quality and distress under financial turmoil: Evidence from small partnerships	3
Innovation spillovers within business groups: Evidence from Korean chaebols	3
Risk-sharing networks, consumption, and asset allocation: Micro-evidence from China	3
The moderating role of a corporate life cycle with the impact of economic value-added on corporate social responsibility: Evidence from China's listed companies	3
Where are the fundamental traders? A model application based on the Shanghai Stock Exchange	3
Analysis of the performance of Islamic gold-backed cryptocurrencies during the bear market of 2020	3
From the core to the European periphery: Spillover effects of financial cycles	3
Kuwait Stock Exchange: A re-examination of seasonal anomalies	3
The spillover effects of China's monetary policy shock: Evidence from B&R countries	3
In the radiance of enlightenment: The influence of nontheistic religions on corporate default risk	3
Insider trading and information asymmetry: Evidence from the Korea Exchange	3
Large state-owned shareholders and social insurance contributions in private firms: Evidence from China	3
Mandatory disclosure and bank earnings management in India	3
Testing technical trading strategies on China's equity ETFs: A skewness perspective	3
Social capital and cost of debt: Evidence from Chinese CEO network centrality	3
The cyclicality of official bilateral lending: Which cycle do flows follow?	3
Optimizing systemic risk through credit network reconstruction	2
Enhancing bank liquidity creation through digital innovation: Exploring the impact of macroprudential policy sentiments	2
Disruptive technology and audit risks: Evidence from FTSE 100 companies	2
The impact of corporate governance and state ownership on the default probabilities of Chinese firms	2
The perils of popularity: Retail investor attention and misguided M&As	2
Artificial intelligence and corporate investment efficiency: Evidence from China	2
How to reduce the default contagion risk of intercorporate credit guarantee networks? Evidence from China	2
Dividend policy and religion: International evidence from firms with Islamic Label	2
Learning by doing or catering: Firm-specific experience and analyst forecast accuracy	2
Your skin or mine: Ensuring the viability of a central counterparty	2
Monetary policy surprises and interest rates under China's evolving monetary policy framework	2
Dynamic volatility spillovers among commodities, bitcoin, and emerging markets	2
Dynamic financial connectedness among the US, China, and countries of the Belt and Road Initiative	2
Effects of monetary policy news on financial assets: Evidence from Brazil on a bivariate VAR-GARCH model (2006–17)	2
How stressed are the banks? An inter-temporal network analysis	2
Untangling the finance-growth nexus: The dual role of financial development in the transmission of shocks	2
Executive overconfidence, corporate investment, and institutional ownership: Evidence from Vietnam	2
FinTech and the COVID-19 pandemic: Evidence from electronic payment systems	2
International reserves, currency depreciation and public debt: New evidence of buffer effects in Africa	2
Does corporate social responsibility benefit society? Evidence from Latin America	2
Editorial Board	2
News media and insider trading profitability: An emerging country perspective	2
Connectedness and risk spillovers among sub-Saharan Africa and MENA equity markets	2
Dynamics and predictability in informal currency markets: The case of the Cuban Peso	2
Energy firms in emerging markets: Systemic risk and diversification opportunities	2
Editorial for multi-source data-driven financial fraud risk analysis	2
Multibanking in microfinance yields positive performance: Evidence from Ecuadorian entrepreneurs	2
The evolution of consumption inequality and risk-insurance in Chile	2
Banks' leverage in foreign exchange derivatives in times of crisis: A tale of two countries	2
Venture capital investment in Latin America: The role of experience, distances, and network features	2
Does fintech matter for financial inclusion and financial stability in BRICS markets?	2
Multivariate dynamics between emerging markets and digital asset markets: An application of the SNP-DCC model	2