International Review of Financial Analysis

1992 - 2025

Current editor(s): B.M. Lucey

From Elsevier
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Volume 105, issue C, 2025

Strategic alliances and stock pricing efficiency: Evidence from China

Mingjing Zhang, Yongshen Zhang, Mingyuan Zhang and Boxuan Fang

The impact of intellectual property protection on the development of artificial intelligence in enterprises

Qifeng Han, Chunhui Li and Yulu Jin

Greenium fluctuations and climate awareness in the corporate bond market

Massimo Dragotto, Alfonso Dufour and Simone Varotto

Network effects of high-speed railways on corporate bond yield spreads: Evidence from China

Hongling Guo, Guochao Wan, Xilinan Wu and Xueqian Song

Climate risks and financial stability: Evidence on the effectiveness of climate-related financial policies

D’Orazio, Paola

Limited efficiency of G-SIB capital regulation in curbing brown lending

Henry Penikas

A multimodal sentiment classifier for financial decision making

Andrew Todd, James Bowden, Mark Cummins and Yang Su

Signal received? Carbon price and financial–environmental performance prioritization in EU ETS firms

Ethan Eslahi, Anna Creti and María-Eugenia Sanin

Media attention and corporate new quality productive forces

Juan Chen, Fuli Chen and Yufan Dai

Outward foreign direct investment and pollution: Evidence from China

Jingyi Gao, Yuanming Ren and Xinyu Zhan

Influence of green finance on new-quality productivity of enterprises: Evidence from Chinese A-share listed companies

Qian Fu and Shengliang Zhao

The effect of NYSE American’s latency delay on informed trading

Jeremy Morris and Ke Xu

Modeling bimodal stock price dynamics by a parsimonious diffusion process

Yaosong Zhan, Shiqing Ling, Zhenya Liu and Shixuan Wang

Examining high-frequency patterns in Robinhood users’ trading behavior

David Ardia, Clément Aymard and Tolga Cenesizoglu

Tail risk contagion and connectedness between clean cryptocurrency, green assets and commodity markets

Walid Mensi, Houssem Eddine Belghouthi, Sami Al-Kharusi and Sang Hoon Kang

Data driven-sustainability: The impact of data trading platforms on corporate ESG performance

Shilong Ge, Zhenyu Tu, Yalin Chen and Heap-Yih Chong

Commodity futures option valuation – An ensemble model

Yi Cao, Jia Zhai, Conghua Wen, Lu Zong and Ao Yang

The dark side of corporate digital transformation: Evidence from corporate bribery

Na He, Ling He, Junjie Yang and Heng Zhu

Impact of green innovation openness and green innovation radicalness on firm performance: Evidence from China

Yongni Jiang, Pianpian Yang, Lu Zhang and Maotian Wang

Exploring the intersection of sustainability performance and M&A activity: A review of the literature

Valentina Beretta, Enrico Cotta Ramusino, Maria Chiara Demartini and Emanuel Bagna

Cash holdings and risk-adjusted returns: The role of business strategy, life cycle, and managerial ability

Dominic Gasbarro, Hong Miao, Robert G. Schwebach and J. Kenton Zumwalt

Birthplace bias, familiarity and portfolio choice

Qingchong Chen, Xiong Xiong, Ya Gao and Yumeng Zhang

Analyzing the market's reaction to AI narratives in corporate filings

Anup Basnet, Maxim Elias, Galla Salganik-Shoshan, Thomas Walker and Yunfei Zhao

Digital government and corporate ESG performance

Liming Chen, Tao Dai, Chen Zhang and Zhi Zhang

What triggers intraday price jumps and co-jumps in gold?

Neharika Sobti

High stakes in a low-carbon world: Financial risks and returns in renewable energy

Celina Toscano Hernandez, Francesco Paolo Appio and Federico Platania

Financial elderly care security and community satisfaction: The moderating effect of internet usage

Zhuojun Liu and Xinyu Xu

Empty pledges and powerless conventions: How transition climate risks are disrupting financial markets?

Hany Fahmy

Oil price uncertainty, exchange rate volatility, and African stock markets: A nonparametric quantile-on-quantile analysis

Yufeng Chen, Zulkifr Abdallah Msofe, Chuwen Wang and Minghui Chen

Boards' green background and corporate ESG

Liangyu Chen, Alkut Yusuyin, Renyi Zhang and Yongmin Zhang

Digital ripples: The impact of customers' digital transformation on the financing constraints of suppliers

Qinyang Li, Mingrui Li, Mengru Li and Tao Li

Evolutionary game analysis of digital inclusive finance for high-quality development of small and medium-sized enterprises

Yingying Zhang, Xuming Mi, Hongtao Li and Xinpeng Wang

Risk factors in cryptocurrency pricing

Tian Lan and Michael Frömmel

Risk spillover effects of climate uncertainty on commodity markets: From the dual perspective of physical risk and transition risk

Haiqin Ouyang, Xiaoyong Huang and Bo Yu

Driving effects of U.S. monetary policy and geopolitical risks on gold reserve share

Ziheng Liu, Jiahui Zhang, Ran Gu, Qizheng Hu and Shouchao He

Language structure and corporate financing: The role of future time reference

Michael Machokoto, Tesfaye T. Lemma and Marvelous Kadzima

Digital fiscal system and ecological environment

Zongang Liu and Yongmin Wu

Effects of chief economists in financial institutions on capital market development

Muyuan He, Aizhen Chen, Yutong Han, Chengying He and Xiaoxu Geng

Understanding risk spillover in multi-layer financial networks: The role of bank–firm connections

Guanghou Wang, Han Zhao, Lei Shu and Lei Song

Risk factor disclosure in green bond prospectuses and investor compensation

Paraic McGee, Lisa Sheenan, Tom Egan and Sheila O'Donohoe

Resignation of independent directors, restructuring of political ties, and the introduction of state-owned capital in private enterprises: Evidence from China

Cao Wei, Xu Wei and Zhao Can

Do female CEOs lead more ethical firms? ESG and corporate impact

Mustafa A. Dah, Walid Elgammal, Bilal Kchouri and Adnan Marrouche

CEO left-handedness and readability

Xin Chen, June Woo Park, Albert Tsang and Yingying Xin

When opaque firms borrow: The role of investor sentiment

Elena Ferrer and Nuria Suárez

Carbon-related credit concentration and banking systemic risk due to climate transition shocks

Chao Wang, Chenfang Jia and Xiaoxing Liu

Forecasting climate-sensitive industries' volatility: A regime-switching GARCH-MIDAS approach with multiple climate risk indicators

Maria Ghani and Quande Qin

LGBTQ-friendly employee policies and corporate innovation

Veda Fatmy, Jukka Sihvonen and Sami Vähämaa

Supply chain finance and enterprise dual innovation: The perspective of breakthrough and incremental innovation

Yonghong Ma and Enjia Zhu

The role of GHG emissions on capital accumulation in emerging countries. A dynamic analysis on BICS economies

Luca Esposito and Marco Tedeschi

Predicting European banks distress events: Do financial information producers matter?

Quentin Bro de Comères

Financial distress likelihood of European SMEs in times of economic policy uncertainty: The role of family ownership and performance aspirations

Fadi Hawach and Ignacio Requejo

Carbon emission and idiosyncratic risk: Role of environmental regulation and disclosure

Qing Zhang, Zongyi Hu, Zehua Zhang and Ran Zhao

Economic policy uncertainty, investor sentiment and IPO underpricing

Mengting Zhang and Wenjiao Du

Assessing the synergy reduction effects of the renewable energy policies on environmental pollution and carbon emissions in China

Xiufeng Zhang, Tong Yan, Shengxin Zhang, Zhenhua Zhang and Yanchao Feng

Climate change and exchange rate variables: A potential storm of urban debt

Yan Wang and Lianjiao Hu

Green business performance and innovation willingness: Exploring the impact of ecosystem-oriented business models

Anna Min Du, Zhennan Sun, Zhongyuan Li and Agyenim Boateng

Market efficiency across intra-daily sampling frequencies for Brent crude oil futures

Erik Smith-Meyer, Erik Haugom and Christian Oliver Ewald

Does the readability of target firms' annual reports matter to bidders?

Balasingham Balachandran, Robert W. Faff, Kristina Minnick and Syed Shams

Data element, big data and enterprise innovation: Evidence from data trading platforms and national big data comprehensive pilot zones

Ruifeng Jing, Yanmei Xu and Ruizhi Liu

The impact of the coupling coordination between new-type urbanization and the digital economy on ecological efficiency

Lelai Shi, Hong Lin and Bing Tan

Modeling GDP losses from unexpected oil price shocks: An extended CGE analysis in China

Yanqi Liu, Ying Chen, Wei Wu, Xiangyang Ma and Junchen Yao

Does supply chain vertical integration reduce corporate debt financing costs?☆

Qian Sun, Wenyu Zhang, Xiaoke Cheng, Bangling Ni and Xiangfei Fu

2024 U.S. presidential elections: An event study for U.S. and non-U.S. fossil fuel and renewable listed firms

António Miguel Martins, Bruno Albuquerque, Luís Sardinha and Nuno Moutinho

Does dialect similarity affect customer stability: Evidence from corporate trust and friction

Xuehua Zhang, Yun Zhong, Zhenyu Liu and Ye Zhuo

Returnees and remuneration: The influence of international experience on compensation policies in chinese firms

Ao Shu, Xiasi Kuang, Yue Zhou, Ke Zhou and Xiaoling Yin

The stock price crash risk of central firms in business groups

Qinmin Jia, Zhihui Song, Xiaohong Huang and Quansheng Xuan

Can digital transformation promote firms' sustainable development? Evidence based on ESG performance

Zhongsheng Zhou, Zhichao Yuan and Chao He

Investment and information asymmetry in corporate sustainability: Incentive-auditing contracts and policy insights

Zhongli Wang and Michi Nishihara

On the limits of informationally efficient stock markets: New insights from a chartist-fundamentalist model

Laura Gardini, Davide Radi, Noemi Schmitt, Iryna Sushko and Frank Westerhoff

Customer spillover effects of corporate social responsibility and supply chain sustainability

Huaan Shi, Mohammad Zoynul Abedin, Xiaowei Ma and Brian Lucey

Investigating the investment readiness of European SMEs: A machine learning approach

Christos Alexakis, Periklis Gogas, Giovanni Petrella, Michael Polemis and Federica Salvadè

Exploring the Nexus of virtual and real-world assets: Price co-movement and risk spillovers in the metaverse era

Zedongfang Su, Xinyu Zhang, Yunjie Wei and Shouyang Wang

Conflicting or complementary? Peer effects on green breakthrough technological innovation: Evidence from China

Dongmin Kong, Zheng Shi, Shaohuang Wang and Shuang Lin

Foreign investors, agency problems and capital allocation efficiency: From the perspective of QFII shareholding

Wenyu Gao, Xudong Zhuang, Yu Wu, Yanxiang Xie and Yunchao Hu

Impact of OFDI on investment choice allocations

Yongmin Zhang, Xuewei Liu, Wenjun Tu, Moau Yong Toh and Yuxiao Lai

More authentic data asset disclosure by myopic managers: Evidence from China

Yongjie Feng, Zenglian Zhang, Jingxian Zhang and Wenjie Zhou

Superstar CEOs and the presentation style of CSR reports: Truthful reflection or impression management?

Jing Liu, Yizhong Fan, Peng Yu and Yijia Ren

The hidden cost of geopolitical risk: Corporate violations in China

Yu Su

Racing toward tourism sustainability: A spatial-temporal analysis

Fang Zhao, Shaheem Sayed Merajuddin, Fanqi Liu, Yi Xu and Yun Zhang

Labor outcomes of partial privatization in state-owned enterprises: Evidence on employment and compensation under mixed ownership

Yeyu Wu, Sujuan Xie and Yang Xu

Peer network and financial misconduct: An analysis from the perspective of social reciprocity

Dongjie Shi, Wei Wang, Shouxun Wen and Ruohan Yu

Quotas in flux, security at risk: China's energy quota trading and the DML-estimated energy security degradation

Jingcheng Li, Menggang Li and Junjie Li

Managerial myopia and greenwashing: A machine learning and text analysis approach

Lifang Gao and Heng Yin

Circular economy and firm-specific risks: A risk management perspective

Evita Allodi and Maria Gaia Soana

Greenhouse gas performance and disclosure-new global evidence

Mingchen Li, Peigong Li and Wanwan Zhu

How do firms respond to competition? Evidence from vertical integration

Han Sun and Man Wang

Carbon transition risk and stock market premium

Qin Luo and Feng Ma

Digital-green synergy in transition: Exploring the dual synergy transformation impact on corporate ESG performance

Kunpeng Zhang, Tianyu Zheng, Peng Gao and Yayun Ren

Corrigendum to “Specialization in bank lending and firm deleveraging: Evidence from China” [International Review of Financial Analysis; Volume103 (2025) Start page–End page/Article Number 104188]

Zijia Ding, Qian Liu and Dexin Che