International Review of Financial Analysis

1992 - 2025

Current editor(s): B.M. Lucey

From Elsevier
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Volume 89, issue C, 2023

Can CoCo-bonds mitigate systemic risk?

Arndt-Gerrit Kund and Matthias Petras

Good volatility, bad volatility, and the cross section of cryptocurrency returns

Zehua Zhang and Ran Zhao

Enterprise digital transformation, breadth of ownership and stock price volatility

Shasha Liu, Huixian Zhao and Gaowen Kong

Time-varying linkages between energy and stock markets: Dynamic spillovers and driving factors

Huiqun Feng, Jun Zhang and Na Guo

Risk transmission from the energy markets to the carbon market: Evidence from the recursive window approach

Sanggetha Vellachami, Akram Hasanov and Robert Brooks

Government audit supervision, financialization, and executives' excess perks: Evidence from Chinese state-owned enterprises

Mengtao Zhang, Wenwen Li, Yalin Luo and Wenchuan Chen

The effect of language on IPO underpricing: Evidence from a multinational research

Zhi Zhang, Di Zhang, Senyang Jiang, Ao Li and Wei Yu

Electronic voting in shareholder meetings and the market value of cash holdings

Eugenia Y. Lee and Wonsuk Ha

Innovation under debtor-friendly institutional policy: Strategic patenting perspective of Chinese listed firms

Jinho Park, Byungchul Choi and Wei Huang

Examining the volatility of soybean market in the MIDAS framework: The importance of bagging-based weather information

Lu Wang, Rui Wu, WeiChun Ma and Weiju Xu

Forecasting European stock volatility: The role of the UK

Jun Gao, Xiang Gao and Chen Gu

Which is more important in stock market forecasting: Attention or sentiment?

Xiaotao Zhang, Guoran Li, Yishuo Li, Gaofeng Zou and Ji George Wu

Institutional investor horizon and stock price synchronicity: Do product market competition and analyst coverage matter?

Zeineb Barka, Ramzi Benkraiem, Taher Hamza, Faten Lakhal and Samuel Vigne

CSR, financial and non-financial performance in the tourism sector: A systematic literature review and future research agenda

Ibrahim A. Alatawi, Collins Ntim, Anis Zras and Mohamed H. Elmagrhi

The impact of the COVID-19 pandemic and Russia-Ukraine war on multiscale spillovers in green finance markets: Evidence from lower and higher order moments

Wenting Zhang, Xie He and Shigeyuki Hamori

Bank ownership structures and sustainable banking initiatives: The moderating effect of governance mechanism

Douglas A. Adu, Mohammad Zoynul Abedin and Mudassar Hasan

The market quality effects of sub-second frequent batch auctions: Evidence from dark trading restrictions

Zeyu Zhang and Gbenga Ibikunle

Forecasting stock market volatility with various geopolitical risks categories: New evidence from machine learning models

Zibo Niu, Chenlu Wang and Hongwei Zhang

Non-banks contagion and the uneven mitigation of climate risk

Régis Gourdel and Matthias Sydow

The role of social capital in price efficiency: International evidence

Chin-Wen Hsin and Shu-Cing Peng

The performance of specialized and oriented diversified firms: A comparative analysis from the targeted expansion of renewable energy business of listed companies

Boqiang Lin and Siquan Wang

Commodity market financialization, herding and signals: An asymmetric GARCH R-vine copula approach

Qin Xiao, Meilan Yan and Dalu Zhang

Do green bond and green stock markets boom and bust together? Evidence from China

Xianfang Su, Dawei Guo and Liang Dai

When ESG talks: ESG tone of 10-K reports and its significance to stock markets

Konstantin Ignatov

How does institutional investors' information acquisition inhibit share pledging? Evidence from China

Zhongyi Xiao, Haitao Chen and Kang Chen

Price limit performance: New evidence from a quasi-natural experiment in China's ChiNext market

Siyuan Tang

Municipal bankruptcies and crime

Chandan Jha and Swarup Joshi

The false prosperity and promising future: Effects of data resources on bank efficiency

Maoyong Cheng and Yang Qu

Learn from peers? The impact of peer firms' analyst earnings forecasts on a focal firm's corporate investment efficiency

Jie He, Sha Xu, Bin Wang and Kam C. Chan

Institutional investor networks and firm innovation: Evidence from China

Yaoyao Fan, Kim Cuong Ly and Yuxiang Jiang

Peer effects in R&D investment based on interlock network: Evidence from China

Tianyu Zhang

Economic policy uncertainty and imitation behaviors of corporate social responsibility practices: Evidence from China

Xingnan Xue and Nan Hu

Portfolio capital flows and the US dollar exchange rate: Viewed from the lens of time and frequency dynamics of connectedness

Mangal Goswami, Victor Pontines and Yassier Mohammed

A two-stage credit scoring model based on random forest: Evidence from Chinese small firms

Ying Zhou, Long Shen and Laura Ballester

Does Bitcoin affect decomposed oil shocks differently? Evidence from a quantile-based framework

Hao Feng, Da Gao, Kun Duan and Andrew Urquhart

Oil price uncertainty, workplace misconduct, and cash holding

Md Showaib Rahman Sarker, Sharif Mazumder and Md Ruhul Amin

Investor response to Morningstar's ratings, category information, and alpha in the Japanese mutual fund market

Kozo Omori and Tomoki Kitamura

On the topology of cryptocurrency markets

Simon Rudkin, Wanling Rudkin and Paweł Dłotko

Dual role of the country factors in international asset pricing: The local factors and proxies for the global factors

Cheol Eun, Kyuseok Lee and Fengrong Wei

Dispersion in news sentiment and corporate bond returns

Maksim Isakin and Xiaoling Pu

Effect of cash flow risk on corporate failures, and the moderating role of earnings management and abnormal compensation

Xia Li, Jairaj Gupta, Ziwen Bu and Chacko George Kannothra

The connection between gender diversity and firm performance: Evidence from Taiwan

Chia-Wei Chen, Ninon K. Sutton, Bingsheng Yi and Qiancheng Zheng

Leading indicators for the US housing market: New empirical evidence and thoughts about implications for risk managers and ESG investors

Tobias Basse, Steven Desmyter, Danilo Saft and Christoph Wegener

Unintended consequences: How does digital inclusive finance affect migrants' urban settlement intentions?

Xiaoxin Guo and Shihu Zhong

Depositor market discipline: New evidence from selling failed banks

Philip Molyneux, Vineet Upreti and Tim Zhou

Spillover of stock price crash risk: Do environmental, social and governance (ESG) matter?

Linyu Wang, Yifan Ji and Zhongxin Ni

Non-linear relationship between oil and cryptocurrencies: Evidence from returns and shocks

Muhammad Abubakr Naeem, Sitara Karim, Afsheen Abrar, Larisa Yarovaya and Adil Ahmad Shah

Predicting financial distress of Chinese listed companies using machine learning: To what extent does textual disclosure matter?

Qi Zhao, Weijun Xu and Yucheng Ji

Women in power with power: The influence of meaningful board representation on default risk

Isabel Abinzano, Beatriz Martinez and Jannine Poletti-Hughes

State transformation of information spillover in asset markets and effective dynamic hedging strategies

Yu-Min Wang, Che-Chun Lin and I-Chun Tsai

Does sentiment affect stock returns? A meta-analysis across survey-based measures

Zuzana Gric, Josef Bajzik and Ondřej Badura

Compensation peer crash risks and corporate own investments: New evidences from U.S. stock markets

Yu-En Lin, Xiao-Tong Jiang, Bo Yu and Keith S.K. Lam

Performance commitments and the properties of analyst earnings forecasts: Evidence from Chinese reverse merger firms

Yu Liu, Lingxuan Yang and Lu Xiong

The improvement of legal system, entrepreneur immigration, and corporate cash holdings

Tingting Duan, Xue Yang and Zhe Zhang

International high-frequency arbitrage for cross-listed stocks

Cédric Poutré, Georges Dionne and Gabriel Yergeau

The bank loan distribution effect of government spending expansion: Evidence from China

Zuomin Zhang and Ling Dai

Do cryptocurrencies feel the music?

Sinda Hadhri

Information interaction among institutional investors and stock price crash risk based on multiplex networks

Jie Li, Zhong-Qiang Zhou, Yongjie Zhang and Xiong Xiong

Do controlling shareholders collude with their related large shareholders? Evidence of equity pledges and shareholding increases from China

Hao Zhang, Tian Jin and Hanbin Chen

How do investors underreact to seasoned equity offerings? Evidence from Taiwan's corporate governance evaluation

Kuo-Cheng Huang and Yu-Chun Wang

Stock market reactions to monetary policy surprises under uncertainty

Jonathan Benchimol, Yossi Saadon and Nimrod Segev

Impact of financial investment on confidence in a happy future retirement

Yan-Leung Cheung, Billy S.C. Mak, Hao Shu and Weiqiang Tan

Diversification in financial and crypto markets

Myriam Ben Osman, Emilios Galariotis, Khaled Guesmi, Haykel Hamdi and Kamel Naoui

Chinese agricultural futures volatility: New insights from potential domestic and global predictors

Xinjie Lu, Yuandong Su and Dengshi Huang

A finite-time singularity in the dynamics of the US equity market: Will the US equity market eventually collapse?

Klaus Grobys

Customer concentration and digital transformation

Min Li, Na Liu, Aiju Kou and Wenchuan Chen

Understanding interconnections among steel, coal, iron ore, and financial assets in the US and China using an advanced methodology

Mehrad Asadi, Aviral Tiwari, Samad Gholami, Hamid Reza Ghasemi and David Roubaud

Applications of high-frequency data in finance: A bibliometric literature review

Syed Mujahid Hussain, Nisar Ahmad and Sheraz Ahmed

The bright side of analyst coverage on corporate innovation: Evidence from China

Ping Zhang and Yiru Wang

Causality between volatility and the weekly economic index during COVID-19: The predictive power of efficient markets and rational expectations

Arusha Cooray, Partha Gangopadhyay and Narasingha Das

No-bailout event and local bank-government nexus in China

Shanshan Li and Liping Lu

The impacts of regulation regime changes on ChiNext IPOs: Effects of 2013 and 2020 reforms on initial return, fair value and overreaction

Qi Deng, Lunge Dai, Zixin Yang, Zhong-Guo Zhou, Monica Hussein, Dingyi Chen and Mick Swartz

Corruption and stock market development: Developing vs. developed economies

Md Shahedur R. Chowdhury, Maroula Khraiche and James W. Boudreau

Does powerful executive holding a dual post as the board secretary reduce nonpunitive regulation?

Huiqin Huang, Chenglong Wang, Wei Yu and Keying Zhu

Contingent capital conversion under dual asset and equity jump–diffusions

Siamak Javadi, Weiping Li and Ali Nejadmalayeri

Is there a CSI-leverage nexus?

Huson Joher Ali Ahmed, A.S.M. Sohel Azad, Wai-Ching Poon and Md Safiullah

Knowledge mapping of model risk in banking

Simona Cosma, Giuseppe Rimo and Giuseppe Torluccio

Payout policy around the world

Matías Braun, Germán Rubio and Tamara Tigero

Board diversity and corporate propensity to R&D spending

Muhammad Asad, Saeed Akbar, Jing Li and Syed Zulfiqar Ali Shah

Forecasting Value-at-Risk using functional volatility incorporating an exogenous effect

Armin Pourkhanali, Laleh Tafakori and Marco Bee

Are MBA CEOs really more risk-averse?

Mohamed Shaker Ahmed and Satish Kumar

Does FinTech development facilitate firms' innovation? Evidence from China

Xiao Dong and Mingzhe Yu

Narcissistic managers and IPO underpricing

Kam C. Chan, Jie He, Changwei Li and Linlang Zhang

Family entrepreneurship around the world

Viviana Fernandez

Do religiosity and political beliefs affect female representation and firm performance?

David A. Carter and Corey A. Shank

Can digital innovation improve firm performance: Evidence from digital patents of Chinese listed firms

Qiongyu Huang, Chuhong Xu, Xiaolong Xue and Hui Zhu

The effects of mandatory ESG disclosure on price discovery efficiency around the world

Qiyu Zhang, Rong Ding, Ding Chen and Xiaoxiang Zhang

Network vs integrated organizational structure of cooperative banks: Evidence on the Italian reform

Elena Beccalli, Ludovico Rossi and Andrea Viola

Domestic macroeconomic determinants of precious metals prices in developed and emerging economies: An international analysis of the long and short run

Hafiz Muhammad Usman Rana and Fergal O'Connor

Price discovery in carbon exchange traded fund markets

Keshab Shrestha, Babak Naysary and Sheena Sara Suresh Philip

A new insight on CEO characteristics and corporate social responsibility (CSR): A meta-analytical review

Ratikant Bhaskar, Peigong Li, Shashank Bansal and Satish Kumar

Predicting inflation expectations: A habit-based explanation under hedging

Kwamie Dunbar and Johnson Owusu-Amoako

Top management abnormal turnover and stock price crash risk: Evidence from China

Ziyang Li, Yanjun Chen and Yanlin Li

Less is more? New evidence from stock market volatility predictability

Fei Lu, Feng Ma and Qiang Guo

Customer information disclosure and corporate financing constraints

Xin Wang, Yuan George Shan and Jianbo Song

Business cycle and cost structure

Bo Zhu, Yuguo Chen and Jia-Chi Cheng

Artificial intelligence-based tokens: Fresh evidence of connectedness with artificial intelligence-based equities

Francisco Jareño and Imran Yousaf

Detecting financial statement fraud using dynamic ensemble machine learning

Muhammad Atif Khan Achakzai and Juan Peng

Credit stimulus and corporate excess employees

Guangyuan Ma, Dongmin Kong and Shasha Liu

Corporate social irresponsibility: The relationship between ESG misconduct and the cost of equity

Leonardo Becchetti, Doriana Cucinelli, Federica Ielasi and Monica Rossolini

Gold and CoVid-19: Uncovering the safe haven hypothesis with dynamic MSR modeling

Konstantinos Konstantakis, Panos Xidonas, Panayotis Michaelides and Stéphane Goutte

D&O insurance, technology independent directors, and R&D investment

Chunling Shi, Yaodong Sun and Jia Lyu