The North American Journal of Economics and Finance

1992 - 2025

Continuation of North American Review of Economics and Finance.

Current editor(s): Hamid Beladi

From Elsevier
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Volume 76, issue C, 2025

Factors of predictive power for metal commodities

Patric Papenfuß, Amelie Schischke and Andreas Rathgeber

Green bonds and clean energy stocks: Safe havens against global uncertainties? A wavelet quantile-based examination

Chaker Aloui, Sami Mejri, Hela Ben Hamida and Ramazan Yildirim

Systemic risk and network effects in RCEP financial markets: Evidence from the TEDNQR model

Yan Chen, Qiong Luo and Feipeng Zhang

A further examination of sovereign domestic and external debt defaults

Yaseen Ghulam

ESG rating divergence and stock price crash risk

Chunhua Ju, Xusheng Fang and Zhonghua Shen

Unveiling the gold-oil whirl amidst market uncertainty shocks in China

Houjian Li, Yanjiao Li and Fangyuan Luo

Inflation synchronization and shock transmission between the eurozone and the non-euro CEE Economies: A wavelet quantile VAR approach

Huthaifa Sameeh Alqaralleh, Alessandra Canepa and Eva Muchova

Does the VIX act as the main transmitter of mispricing in index futures markets? Insights from European and American regions

S.M.R.K. Samarakoon, Rudra P. Pradhan, Sasikanta Tripathy and Manju Jayakumar

Managerial response to institutional investor distraction

Tri Trinh, Mark D. Walker and Keven Yost

Greater fragility, greater exposure: A network-based analysis of climate policy uncertainty shocks and G20 stock markets stability

Yu-fan Wan, Ming-hui Wang and Feng-lin Wu

Connectedness of cryptocurrency-related stocks and the cryptocurrency market: Evidence from the United States

Erdinc Akyildirim, Shaen Corbet, Ali Coskun and Metin Ercan

The divergence of China’s prices under economic policy uncertainty shock: A time-varying perspective

Shaobo Long, Ning Xue and Yuan Zhang

How does the supplier size similarity affect trade credit?

Xiaobao Song, Mingan Yao and Chun Guo

Cryptocurrency market spillover in times of uncertainty

Wei-Peng Chen, Chih-Chiang Wu and Withz Aimable

Creditable bonds’ multifunctional roles during the COVID-19 pandemic

Qiyu Wang, Junhong Yang and Terence Tai Leung Chong

The impact of outcome uncertainty on corporate investment compensation peer effects

Yu-En Lin, Yu-Xin Xu, Bo Yu and Keith S.K. Lam

The role of ESG factor in stock clustering based on risk-return-liquidity dimensions

Lucie Staněk Gyönyör, Matúš Horváth, Daniel Stašek and Martin Stachoň

Finance and collusion in oligopolistic markets

Sugata Marjit, Arijit Mukherjee, Xinpeng Xu and Lei Yang

The impact of volatility regime dynamics on option pricing

Shican Liu, Qing Li and Siqi Fan

How does news-driven monetary policy frictions affect nonperforming loans?--Taking Chinese commercial banks as an example

Heng-Guo Zhang, Shihong Wang and Yuchi Xie

Identifying risk transmission in carbon, energy and metal markets: Evidence from a novel quantile frequency connectedness approach

Hao Wu and Yuan Huang

International extreme sovereign risk connectedness: Network structure and roles

Wei-Qiang Huang, Peipei Liu and Yao-Long Zhu

Economic policy uncertainty, investor sentiment and systemic financial risk: Evidence from China

Guobin Fang, Xuehua Zhou, Huimin Ma, XiaoFang Zhao, YaoXun Deng and Luoyan Xie

Reaction of the U.S. Treasury market to economic news when intrapersonal uncertainty and interpersonal disagreement are high

Onem Ozocak

Investment opportunity strategy in a double-mean-reverting 4/2 stochastic volatility environment

Jiling Cao, Jeong-Hoon Kim, Wenqiang Liu and Wenjun Zhang

Optimal venture capital entry–exit strategy with jump–diffusion risk

Si Zuo and Haijun Wang

Exploring the dynamic impact of transaction taxes on market quality in HFT and non-HFT environments: An agent-based modeling approach

Liming Wang, Xuchu Sun, Hongliang Zhu and Tangrong Li

An early prediction model on systemic risk under global risk: Using FinBERT and temporal fusion transformer to multimodal data fusion framework

Xiao Jin and Shu-Ling Lin

Subjective probability distributions of nonlinear payoffs: Recovering option payoff, agent’s utility, and pricing kernel distributions

Akira Yamazaki

Does corporate digital transformation improve capital market transparency? Evidence from China

Bin Gao, Mimi Qin and Jun Xie

A predictive term-spread model in the age of inflation targeting

Jostein Tvedt

Valuing catastrophe equity put options with liquidity risk, default risk and jumps

Chao Tang, Peimin Chen and Shu Zhang

Environmental tax reform and corporate tax avoidance: A quasi-natural experiment on China’s environmental protection tax law

Zhongbo Jing, Wei Zhang, Pengcheng Zhao and Yang Zhao

Real-time GARCH@CARR: A joint model of returns, realized measure of volatility and current intraday information

Buyun Xu and Zhimin Wu

Market broadening and future volatility: A study of Russell 2000 and S&P 500 equal weight ETFs

Abbas Valadkhani and Barry O'Mahony

Detecting corporate ESG performance: The role of ESG materiality in corporate financial performance and risks

Sharon S. Yang, -Wei Huang, Hong-Yi Chen and Min-Hung Tsay

Bank liquidity supply and corporate investment during the 2008–2009 financial crisis

Wei Zhang

Multi-step double barrier options under time-varying interest rates

Hangsuck Lee, Yisub Kye, Byungdoo Kong and Seongjoo Song

Mutual fund style drift measured using higher moments and its cash flow incentive

Qi Chen, Peng Wang and Dong Yang

Imported risk in global financial markets: Evidence from cross-market connectedness

Zisheng Ouyang, Zhen Chen, Xuewei Zhou and Zhongzhe Ouyang

Which uncertainty measure better predicts gold prices? New evidence from a CNN-LSTM approach

Wanhai You, Jianyong Chen, Haoqi Xie and Yinghua Ren

Strategic cooperation in fintech field and efficiency of commercial banks

Zhiming Ao and Xinru Ji

Explosiveness in the renewable energy equity sector: International evidence

Juan Ariza and Román Ferrer

A penalized U-MIDAS multinomial logit model with applications to corporate credit ratings

Cuixia Jiang, Junwei Sun and Qifa Xu

Volume 75, issue PB, 2025

A multifaceted graph-wise network analysis of sector-based financial instruments’ price-based discrepancies with diverse statistical interdependencies

Insu Choi and Woo Chang Kim

Which opinion is more trustworthy: An analysts’ earnings forecast quality assessment framework based on machine learning

Yingying Song and Xinxin Chen

Impact of climate change on dynamic tail-risk connectedness among stock market social sectors: Evidence from the US, Europe, and China

Yufei Cao

Volatility estimation through stochastic processes: Evidence from cryptocurrencies

Murad Harasheh and Ahmed Bouteska

Financial regulatory policy uncertainty: An informative predictor for financial industry stock returns

Yaojie Zhang, Xinyi Zhao and Zhikai Zhang

Volume 75, issue PA, 2025

Twitter-based market uncertainty and global stock volatility predictability

Yong Ma, Shuaibing Li and Mingtao Zhou

Frequency domain cross-quantile coherency and connectedness network of exchange rates: Evidence from ASEAN+3 countries

Huiming Zhu, Tian Zeng, Xinghui Wang and Xiling Xia

Momentum mechanisms under heterogeneous beliefs

Yu Yan, Yan Tong and Yiming Wang

Dynamic connectedness of climate risks, oil shocks, and China’s energy futures market: Time-frequency evidence from Quantile-on-Quantile regression

Yinghua Ren, Nairong Wang and Huiming Zhu

Time-varying risk aversion and international stock returns

Massimo Guidolin, Erwin Hansen and Gabriel Cabrera

Pricing options on the maximum or the minimum of several assets with default risk

Jiayi Zhang and Ke Zhou

The role of finance in production and international trade

Sugata Marjit, Gouranga G. Das and Lei Yang

Organizational capital and stock performance during Crises: Moderating role of generalist CEO

Chaeho Chase Lee, Erdal Atukeren and Hohyun Kim

Risk spillovers between Chinese new energy futures and carbon-intensive assets: Asymmetric effect, time–frequency dynamics, and portfolio strategies

Xianfang Su and Yachao Zhao

Does the Confucianism in audit firms enhance the corporate ESG Disclosure?

Zhongyi Xiao, Zhongwei Xia, Haitao Chen and Yu Gu

ESG and Stock Price Volatility Risk: Evidence from Chinese A-share Market

Zhixiang Xu, Dehong Liu, Yushu Li and Fanyu Guo

Corporate ESG decoupling and R&D investment

Yicheng Sun, Qizhi Tao, Du Wang and Wan Zhang

The “effect modifier” of US interest rate in the economic policy uncertainties and economic conditions of fifty (50) US states: A semi-parametric smooth varying-coefficient approach

Afees Salisu, Kazeem Isah and Xuan Vinh Vo

Impact of COVID-19 on Taiwanese stock market

Mei-Chih Wang, Hao-Wen Chang and Tsangyao Chang

Multi-asset bubbles equilibrium price dynamics

Francesco Cordoni

Cross-border ESG rating dynamics: An in-depth connectedness analysis of portfolio returns and volatilities in the USA and Canada

Carlos Esparcia, Mariya Gubareva, Tatiana Sokolova and Francisco Jareño

Who is smarter? Evidence from extreme financial risk contagion in hedge funds and mutual funds

Changqing Luo, Xinxin Fu, Carl R. Chen and Liang Dong

Overconfident investors, Predictable Returns, and optimal consumption-portfolio rules

Shuangling Zhao, Yunmin Wang and Guohua Cao

Optimal control problem for hybrid pension plans under longevity risk for alpha-maxmin expected utility minimization

Ya Chen, Wei Liu and Zhen Zhao

Re-examining China and the u.s.’s respective green bond markets in extreme conditions: Evidence from quantile connectedness

Mei-Chih Wang, Peiyun Jiang and Tsangyao Chang

ESG investment performance and global attention to sustainability

Thanh Nam Vu, Heikki Lehkonen, Juha-Pekka Junttila and Brian Lucey

Hedge funds network and stock price crash risk

Youtao Xiang and Sumuya Borjigin

Unveiling the crypto-green nexus: A risk management and investment strategy approach through the lens of NFTs, DeFis, green cryptocurrencies, and green investments

Ritesh Patel, Sanjeev Kumar and Shalini Agnihotri

Sources of CEO power and firm mergers & acquisitions——Evidence from Chinese listed family firms

Yuping Deng, Haicheng Wang and Cenjie Liu

Introducing a novel fragility index for assessing financial stability amid asset bubble episodes

Radu Lupu, Adrian Cantemir Calin, Dan Gabriel Dumitrescu and Iulia Lupu

A common component of Fama and French factor variances

Masoumeh Fathi, Klaus Grobys and Janne Äijö

ESG risk, economic policy uncertainty, and the downside risk: Evidence from US firms

Chia-Hsien Tang, Hung-Chun Liu, Yen-Hsien Lee and Yuan-Teng Hsu

Multiscale tail risk integration between safe-haven assets and Africa’s emerging equity market

Dan Owusu Amponsah, Mohammad Abdullah, Emmanuel Joel Aikins Abakah, Joshua Yindenaba Abor and Chi-Chuan Lee

Active portfolio management in the face of ESG uncertainty: An agile framework for adaptive investment strategies

Limin Wen, Junxue Li, Jiliang Sheng and Yi Zhang

Multiscale dynamic interdependency between China’s crude oil futures and petrochemical-related commodity futures: An integrated perspective from the industry chain system

Jie Yang, Yun Feng and Hao Yang

Unveiling asymmetric return spillovers with portfolio implications among Indian stock sectors during Covid-19 pandemic

Aswini Kumar Mishra, Kamesh Anand K and Akhil Venkatasai Kappagantula

Higher order expectations, learning, and sentiment pricing dynamics

Jinfang Li

Going Green: Effect of green bond issuance on corporate debt financing costs

Qingsong Ruan, Chengyu Li, Dayong Lv and Xiaokun Wei

Stock market volatility and multi-scale positive and negative bubbles

Rangan Gupta, Jacobus Nel, Joshua Nielsen and Christian Pierdzioch

The effect of consumer willingness to pay on enterprises’ decisions about adopting low-carbon technology

Yantao Ling, Yan Han, Qingzhong Ren, Jing Xu, Mengqiu Cao and Xing Gao

Does oil price uncertainty affect corporate total factor productivity? Evidence from China

Ziqing Wu and Leyi Chen

Impact of government’s support policy on decision-making of platform participants under ESG

Renzhong Li, Chen Fei and Weiyin Fei

Regional FinTech development and total factor productivity among firms: Evidence from China

Yunzhong Li, Chengfang Ye, Mingxi Li, Wai Yan Shum and Fujun Lai

Hand in hand or left behind: The dual impact of leading firms’ digital technologies on industry digital transformation

Chuanhui Liu, Zhongyuan Sheng, Xuetong Hu and Chunxiao Tian

The role of digital transformation in mergers and acquisitions

Nan Yang, Shanmin Li, Zhihong Huang and Caiping Wang

Text Spillover: Measuring connectedness of financial institutions based on news text data

Konstantin Klaucke

Spillover of fear among the US and BRICS equity markets during the COVID-19 crisis and the Russo-Ukrainian conflict

Yi Zhang, Long Zhou, Zhidong Liu and Baoxiu Wu

Static and dynamic return and volatility connectedness between transportation tokens and transportation indices: Evidence from quantile connectedness approach

Erkan Ustaoglu

Does economic policy uncertainty matter to corporate default probability? findings from theoretic analyses and China’s listed firms

Junrong Liu, Guoying Deng, Jingzhou Yan and Shibo Ma

ESG rating and default risk: Evidence from China

Huihui Li and Yonghong Hu

Spatial linkages of positive feedback trading among the stock index futures markets

Shuxi Tian, Shuyi Liu and Lijie Mu