International Review of Financial Analysis

1992 - 2026

Current editor(s): B.M. Lucey

From Elsevier
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Volume 109, issue C, 2026

Patent quality and enterprise digital transformation

Qifeng Han and Chunhui Li

Resilience and recovery dynamics: Assessing the impact of exogenous shocks on sustainable companies

Cristina del Río, Francisco José López-Arceiz and Luis Muga

Data asset disclosure and corporate innovation: Evidence from China

Lingyu Huang, Yuxuan Zhang, Rui Xian and Xinxian Chen

The signaling power of ESG reports: How corporate sustainability disclosure shapes investment decisions in China

Haiya Hu, Tongrui Zhang and Hao Dong

The heterogeneous impact of supply chain risk on firms' innovation strategies: Evidence from China

Ziyi Yin, Fenrong Zhang, Yufang Chao and Jingyu Zhang

Does state-owned equity participation matter for labor investment efficiency: Evidence from private listed firms

Bangling Ni, Lin Han, Xiaoxia Liu and Yuan Tian

Artificial intelligence and corporate innovation: A perspective based on supply chain resilience

Mengqi Cao, Yandong Li and Liang Chen

Infrastructure and firm embedding in global value chains: Evidence from China's high-speed rail opening

Juntian Wang, Ziqi Wang, Ling Fang and Peipei Wu

Energy market volatility prediction: Does climate risk matter?

Yusui Tang, Yangli Guo and Jiawei Cao

The theoretical properties of novel risk-based asset allocation strategies using portfolio volatility and kurtosis

M.D. Braga, L. Riso and M.G. Zoia

The truth behind sustainability claims: Examining carbon risk, ESG disclosures, and greenwashing

Md Abubakar Siddique, Sitara Karim, Md Reiazul Haque and Parvez Mia

Financing constraints for enterprises' low-carbon transition: A green finance perspective

Zaiping Ren, Xiaoyi Lei, Xiangjin Wang and Yanling Peng

Environmental information disclosure, carbon market policy, and corporate value: A policy synergy perspective

Li Li, Ruiqi Zhang and Yongxue Zhang

Assessing the systemic risk and resilience of digital industrial clusters: A financial network perspective

Qiong Luo and Yan Chen

Corporate governance, CEO compensation, and cross-border M&A synergies for acquiring banks

Wen Li, Kung-Cheng Ho, Sheng-Hung Chen and Yu-Jiun Shen

The race for carbon pricing among firms

Karishma Ansaram, Mohammed Zakriya and Paolo Mazza

Evaluation system for the governance capability of national oil companies: A perspective on litigation and business punishment status

Wei Zhao, Xinyi Zhao, Quan Ding, Mai Huang and Baofeng Shi

Can nationalization improve firm profitability? Empirical evidence from China

Yufei Zhang, Li Wang and Qing Wang

Digital finance, industrial structure and regional carbon emissions

Dawei Zhang, Chuanhao Wen, Yonghua Luo, Yanliang Zhu, Bingjian Zhao, Yunfeng Wen and Xiuli Huang

Fiscal transparency, public service provision, and criminal offense rates

Xin Li, Kaicheng Zou and Tianhu Liao

The importance of ownership origin: How family firm innovation responds to innovation-driven strategy in China

Yuanyuan Liu, Feng He and Tingyun Pang

Generative AI-powered venture screening: Can large language models help venture capitalists?

Silvio Vismara, Gresa Latifi, Leonard Meinzinger and Alexander Pass

Does the establishment of pilot free trade zones enhance financial stability? Micro evidence from China

Xiaojun Yang, Xinru Zhu and Zhonggang Yue

Does the Anti-Monopoly Law reshape corporate debt concentration? A quasi-natural experiment from China

Wenyun Yao, Xiaosha Dai, Minmin Tang and Yi Zhao

Comparative analysis of investor sentiment and attention in the U.S. and Chinese stock markets: Implications for financial stability

Yuanyuan Zhang, Yangyang Li and Wenxue Wang

Public data openness and enterprise innovation efficiency

Zhidong Tan, Fei Li, Fule Liu and Jing Zhao

Do suppliers incorporate multi-modal information from customers' annual reports in customer-specific investment decisions?

Xiaoquan Qing and Wenjing Zhao

Navigating internal control: Should optimization design or strengthening execution be prioritized?

Linqing Zheng, Wenhao Tan, Yuling Han and Wanfu Li

Does a collaborative culture promote firm growth? Evidence from China

Wanli Xu, Zihao Peng, Yue Tang and Mingli Xu

Major customers and firms' reliance on bank debt

Shiang Liu and Liang Sun

Cybersecurity risk and corporate maturity mismatch

Duo Wang, Yunge Hu and Yanxi Li

Can the application of artificial intelligence technology and financial innovation drive the digital transformation of enterprises?

Xinni Zou, Zongping Fu, Zhengjie Tian and Zheng Peng

Managerial hyperopia or myopia? Empirical evidence of gambling culture on corporate ESG performance

Sijia Dai, Murilige Chao, Ranadeva Jayasekera and Zhixuan Wang

A transformer-based model for carbon price forecasting with self-decomposition

Jia Ding, Maolin Wang, Junyang Jin and Jorge Goncalves

Lost in the crowd! Pricing carbon at the age of algorithms

Iordanis Angelos Kalaitzoglou

An equilibrium asset pricing model with heterogeneous beliefs about climate risks

Duni Hu and Hailong Wang

The effect of bank culture on bank liquidity creation and bank risk

Loan Quynh Thi Nguyen, Roman Matousek and Yaz Gulnur Muradoglu

Hometown heroism: The philanthropy of local CEOs

Hao Ren

The carbon footprint of household mobility: A consumption-based analysis

Wenjia He, Jun Zhou, Youwei Li, Aslihan Gizem Korkmaz and Pengpeng Yue

Geopolitical risks and the development of digital trade: The interactive effects of tariff policies, logistics performance, and the digital economy

Lulu Yang and Zijia Peng

Digital economy, financial development and regional economic resilience

Huiai Yuan and Lihong Zhao

Can misinformation be tolerated?

Tobias J. Herzing and Matthias Muck

Trade credit dynamics in supply chain: The impact of supplier operational inflexibility

Patrick Glavee and Lukai Yang

A new proxy of competition threats

Hussein Abdoh

Data governance, investment resilience, and corporate performance enhancement

Tianchen Wang, Zheng Peng, Isabel Kit Ming Yan and Xuming Shangguan

Here's the Greenium eclipsed by market-wide illiquidity in the municipal bond market

Hande Ayaydın Hacıömeroğlu, Seza Danışoğlu, Z. Nuray Güner and Baki Cem Şahin

How does the level of digital finance in free trade zones reduce barriers to overseas market entry for enterprises?

Wenpeng Zhu and Yingjie Xue

Climate policy uncertainty and firm decarbonization challenge: Insights from energy transition and technological innovation

Chen Zhao, Jian Yu, Peng Liu and Bo Shen

Are celebrity CEOs worth the big bucks? Evidence from pay-performance sensitivity

Wenbin Long, Jun Hu, Gary Gang Tian and Daifei Yao

Does subindustry disclosure policy affect auditor information supply? Evidence from China

Bo Lin, Xiaohan Wang, Jingyang Wu and Yibing Wu

Sustainable finance contribution to energy value chain participation: The role of industrial automation

Congyu Zhao, Youyi Deng, Kangyin Dong, Rabindra Nepal and Raphaël-Homayoun Boroumand

License to differentiation: Directors' and officers' liability insurance and corporate social responsibility strategy

Lu Zhang, Tianyu Li and Huijuan Wang

Analyst career concerns and stock price crash risk

Muhammad Jahangir Ali, Md Saiful Azam, Ghasan Baghdadi, Mostafa Monzur Hasan and Premkanth Puwanenthiren

Quasi-indexers’ ownership and capital budgeting efficiency of firms

Xiaowen Zhang

Debt overhang and short-termism under incomplete markets

Jiaxi Jiang, Yichen Li and Pengfei Luo

Unleashing innovation dynamism: Enabling influence of artificial intelligence on firms

Feiqiong Wei, Pengfei Bi and Yiyu Weng

Trade policy uncertainty and stock returns: A tale of two periods

Deshui Yu, Jiachen Tang and Mingtao Zhou

AI-driven green transformation: A LLM-based AI quantification and empirical evidence from China

Fei Qin and Mao Zhang

Digitalization and cross-regional investments: Evidence from parent-subsidiaries in China

Shaojian Chen

Does the carbon emission trading mitigate corporate overcapacity? Evidence from staggered difference-in-differences (DID) designs in China

Ying Zhang, Xiaoyu Zhou, Xiaoyan Xiong and Ya-nan Zhang

From stock forums to boardrooms: How investor sentiment contagion drives corporate strategic aggressiveness in China

Xinyuan Li, Qiyun Deng and Qingqing Liu

Innovation networks, financial innovation, and enterprise technology diffusion

Jianghang Wang and Lifei Zhang

External market environment, audit opinion, and enterprise innovation

Chunyu Xing, Hang Meng and Longyuan Sun

Government accounting supervision and corporate productivity: Evidence from market-oriented regulatory reform

Tingting Zhang, Jinke Li and Hui Huang

Network attention, administrative intervention and firm tax aggressiveness

Chen Feng, Xiaoyang Wang, Chao Wang, Xingshu Zhu and Xiaofang Xu

The impact of ESG rating divergence on supply chain resilience: The threshold effect of corporate information transparency

Yucen Hu and Yuxin Wang

Energy commodity spillovers and herding behavior: Evidence from EU ETS-listed firms

Mattia Chiappari, Francesco Scotti and Andrea Flori

ESG sentiment, investor behavior, and corporate cost of equity capital

Guoying Deng, Qiyun Deng, Jingzhou Yan and Xinyuan Li

Climate policy uncertainty and bank risk management: Evidence from China

Zhiwei Zhang, Fei Wu, Qiang Ji and Dayong Zhang

Gaining ground or losing foothold: Game-theoretic lens to unveil strategic bargaining between oil exporters and importers

Ameet Kumar Banerjee, Neelesh Kumar Mishra, Neetu Mishra, Tony Klein and Ahmet Sensoy

Supply chain finance digitalization and corporate risk-taking: Evidence from China

Wei Xue and Shiya Yuan

Digital intelligence finance and corporate ESG: The synergistic effect of science and technology finance policy and green finance policy

Fen Yang and Haixia Wang

Independent directors' annual duty report format and corporate benefit entrenchment: evidence from a behavioural theory perspective

Yu Deng, Ruoxi Ren and Wei Han

Digital finance empowerment, social media sentiment, and asset price bubbles

Ning Wu and Mingjie Li

Digital economy, energy trade, and the path to sustainability: A G7 perspective

Xuanmei Cheng, Fangting Ge, Anna Min Du and Weiji Wang

Can digital financial inclusion improve the export technical sophistication of manufacturing industry?

Feiyu Liu, Ling Zhu, Zhihui Zhang, Haiping Yang and Weidong Huo

Tax law enforcement and corporate environmental investment: Evidence from China

Qianqian Hu, Xinxiao Ma, Taijie Tang and Huiying Wu

Digital new quality productivity and high-quality development of enterprises

Min Li, Zijia Wang and Zhe Wei

Systematic common components in ESG ratings across legal origins

Ting Xie, Kausik Chaudhuri, Han Jin and Yongcheol Shin

Bank expansion and corporate biodiversity risk exposure: Evidence from China

Jing Hao, Yu Guan, Ruifan Chen and Ji George Wu

Spillover effect of shadow banking business governance: A perspective on audit pricing decisions

Haomin Wu, Xiaodan Liu and Wenhao Tan

A costly spotlight: Public data openness and corporate cash holdings

Yongfan Ma and Zongnan Chen

Corporate artificial intelligence investment and employment structure adjustment: A heterogeneity analysis from the perspective of financial constraints

Yisong Huang, Yongqian Tu and Qianyu Zhu

The mechanistic role of investor sentiment in futures market risk spillover

Han Jiang and Xuexi Huo

Public environmental awareness, environmental regulation intensity, and regional green finance development

Junjie Wang and Jiachen Qiao

Executive financial background, corporate ESG performance, and carbon performance

Jing Xing, Qiusheng Wu, Huaiyu Yuan and Zhenjiang Xing

How does green credit reshape the tourism industry chain? Dual path verification driving corporate green innovation and social welfare enhancement

Jing Li

ESG performance, investment efficiency and supply chain resilience

Yiqu Yang and Lingkang Wang

Spillover and diversification effects of China's CET and the industrial stock markets: Evidence from different carbon emission levels in the industrial sector

Zengfu Yao, Ou Yang, Ye Chen, Zhiwei Dong, Cheng Yang, Yu Wei and Yonghuai Chen

Corrigendum to “Environmental information disclosure, carbon market policy, and corporate value: A policy synergy perspective” [International Review of Financial Analysis, Volume 109 (2026), Article 104739]

Li Li, Ruiqi Zhang and Yongxue Zhang

Does social health insurance portability promote rural labor migration? Evidence from health care reform in China

Mingyu Wei and Jinke Li

Natural disasters and stock return co-movement: Fundamental change vs. attention distraction

Xiao Li and Wanyu Qian

The role of artificial intelligence in enhancing firm investment efficiency

Nan Lin, Ao Li, Yi Geng, Junchen Yao and Chengyi Liu

Audit partner rotation-back and short sellers' front running: Evidence from the Chinese stock market

Yuyu Liu, Yaohua Qin and He Xiao

The role of government financial policies in promoting low-carbon innovation diffusion

Junling Wang, Siyu Cheng and Zehao Wang

Geopolitical risk and systemic tail risk spillovers: Evidence from Chinese financial markets

Juandan Zhong, Haibo Li and Bo Wang

Data element resource supply and enterprise green innovation quality

Chen Yang and Zongyi Hu

Green infrastructure and corporate green transformation: Evidence from photovoltaic power stations in China

Xinzhi Zhang, Yi Zhou and Xinya Wang