International Review of Financial Analysis

1992 - 2025

Current editor(s): B.M. Lucey

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Volume 36, issue C, 2014

Can banks individually create money out of nothing? — The theories and the empirical evidence pp. 1-19

Richard Werner

Financial liberalization and contagion with unobservable savings pp. 20-35

Ettore Panetti

Returns and volatility spillover in the European banking industry during global financial crisis: Flight to perceived quality or contagion? pp. 36-45

Taufiq Choudhry and Ranadeva Jayasekera

Vine copulas and applications to the European Union sovereign debt analysis pp. 46-56

Dalu Zhang

Does linkage fuel the fire? The transmission of financial stress across the markets pp. 57-70

Frankie Chau and Rataporn Deesomsak

How do banks create money, and why can other firms not do the same? An explanation for the coexistence of lending and deposit-taking pp. 71-77

Richard Werner

The parlous state of macroeconomics and the optimal financial structure pp. 78-83

C.A.E. Goodhart

Observations on the UK Banking Industry pp. 84-86

Vince Cable

Banking for the public good pp. 87-94

Andy Mullineux

The effect of antidumping and countervailing investigations on the market value of firms pp. 97-105

Wanli Li, Ziqiao Yan and Wei Sun

Corporate governance and the information environment: Evidence from Chinese stock markets pp. 106-119

Lars Helge Haß, Skrålan Vergauwe and Qiyu Zhang

Ownership structure and risk-taking: Comparative evidence from private and state-controlled banks in China pp. 120-130

Yizhe Dong, Chao Meng, Michael Firth and Wenxuan Hou

Does mutual fund ownership affect financial reporting quality for Chinese privately-owned enterprises? pp. 131-140

Ann Ling-Ching Chan, Rong Ding and Wenxuan Hou

How are political connections valued in China? Evidence from market reaction to CEO succession pp. 141-152

Lerong He, Hong Wan and Xin Zhou

Executive political connections and firm performance: Comparative evidence from privately-controlled and state-owned enterprises pp. 153-167

Shujun Ding, Chunxin Jia, Zhenyu Wu and Xiaoqing Zhang

Ownership structure and collateral requirements: Evidence from China's listed firms pp. 168-178

Can An, Xiaofei Pan and Gary Gang Tian

Why do some Chinese technology firms avoid ChiNext and go public in the US? pp. 179-194

Ufuk Güçbilmez

Stairway to heaven or gateway to hell? A competing risks analysis of delistings from Hong Kong's Growth Enterprise Market pp. 195-205

Robert Cressy and Hisham Farag

Does the quality of lender–borrower relationships affect small business access to debt? Evidence from Canada and implications in China pp. 206-211

Sofia Johan and Zhenyu Wu

Does external finance pressure affect corporate disclosure of Chinese non-state-owned enterprises? pp. 212-222

Youchao Tan, Zhenmei Zhu, Cheng Zeng and Minghua Gao

To what extent do financing constraints affect Chinese firms' innovation activities? pp. 223-240

Alessandra Guariglia and Pei Liu

Foreign direct investment concessions and environmental levies in China pp. 241-250

Qiu Chen, Min Maung, Yulin Shi and Craig Wilson

Public economics gone wild: Lessons from venture capital pp. 251-260

Douglas Cumming

Volume 35, issue C, 2014

Corporate investment during the financial crisis: Evidence from China pp. 1-12

Hong Bo, Ciaran Driver and Hsiang-Chun Michael Lin

The evolution of risk premium as a measure for intra-regional equity market integration pp. 13-19

Khaled Guesmi, Frédéric Teulon and Ahmed Taneem Muzaffar

Speculative bubbles and the cross-sectional variation in stock returns pp. 20-31

Keith Anderson and Chris Brooks

Forecasting option smile dynamics pp. 32-45

Van Le and Ralf Zurbruegg

The use of financial derivatives and risks of U.S. bank holding companies pp. 46-71

Shaofang Li and Matej Marinč

Time-inconsistent investment, financial constraints, and cash flow hedging pp. 72-79

Donald Lien and Chia-Feng (Jeffrey) Yu

Premiums, discounts and feedback trading: Evidence from emerging markets' ETFs pp. 80-89

Ailie Charteris, Frankie Chau, Konstantinos Gavriilidis and Vasileios Kallinterakis

Stock return, dividend growth and consumption growth predictability across markets and time: Implications for stock price movement pp. 90-101

David G. McMillan

What drives investment bank performance? The role of risk, liquidity and fees prior to and during the crisis pp. 102-117

Emmanuel Mamatzakis and Theodora Bermpei

Illiquidity, return and risk in G7 stock markets: Interdependencies and spillovers pp. 118-127

Andreas Andrikopoulos, Timotheos Angelidis and Vasiliki Skintzi

Reinsurance decisions in life insurance: An empirical test of the risk–return criterion pp. 128-139

Elena Veprauskaite and Michael Sherris

The impact of the 2008 and 2010 financial crises on the Hurst exponents of international stock markets: Implications for efficiency and contagion pp. 140-153

Paulo Horta, Sérgio Lagoa and Luis Martins

Calendar effects, market conditions and the Adaptive Market Hypothesis: Evidence from long-run U.S. data pp. 154-166

Andrew Urquhart and Frank McGroarty

What impact does a change of fund manager have on mutual fund performance? pp. 167-177

Andrew Clare, Nick Motson, Svetlana Sapuric and Natasa Todorovic

Liquidity risk and the performance of UK mutual funds pp. 178-189

Jason Foran and Niall O'Sullivan

How does trading volume affect financial return distributions? pp. 190-206

Hung Do, Robert Brooks, Sirimon Treepongkaruna and Eliza Wu

Anomalies, risk adjustment and seasonality: Australian evidence pp. 207-218

Angel Zhong, Manapon Limkriangkrai and Philip Gray

Financial regulation in geographically-segmented executive labor markets: Evidence from TARP pp. 219-229

Richard A. Cazier

Does cash flow predict returns? pp. 230-236

Paresh Narayan and Joakim Westerlund

CEO power and the structure of CEO pay pp. 237-248

Chongwoo Choe, Gloria Y. Tian and Xiangkang Yin

The effect of financial market development on bank risk: evidence from Southeast Asian countries pp. 249-260

Chaiporn Vithessonthi

Price discovery analysis of green equity indices using robust asymmetric vector autoregression pp. 261-267

Mark Cummins, Oonagh Garry and Claire Kearney

The Association between microfinance rating scores and corporate governance: a global survey pp. 268-280

Leif Atle Beisland, Roy Mersland and Trond Randøy

Volume 34, issue C, 2014

Classifying returns as extreme: European stock and bond markets pp. 1-4

Charlotte Christiansen

The effects of sovereign rating drifts on financial return distributions: Evidence from the European Union pp. 5-20

Hung Do, Robert Brooks, Sirimon Treepongkaruna and Eliza Wu

On financial contagion and implied market volatility pp. 21-30

Dimitris Kenourgios

Liquidity and risk sharing benefits from opening an ETF market with liquidity providers: Evidence from the CAC 40 index pp. 31-43

Rudy De Winne, Carole Gresse and Isabelle Platten

What drives stochastic risk aversion? pp. 44-63

Sungjun Cho

CEO incentive compensation in U.S. financial institutions pp. 64-75

Gloria Y. Tian and Fan Yang

Is more less? Propensity to diversify via M&A and market reactions pp. 76-88

Abigail Hornstein and Zachary Nguyen

Corporate yield spreads and real interest rates pp. 89-100

Jonathan Batten, Gady Jacoby and Rose C. Liao

Sovereign rating actions and the implied volatility of stock index options pp. 101-113

Vu Tran, Rasha Alsakka and Owain ap Gwilym

The cross-section of stock returns in an early stock market pp. 114-123

Qing Ye and John Turner

Fuel hedging, operational hedging and risk exposure — Evidence from the global airline industry pp. 124-139

Britta Berghöfer and Brian Lucey

Forward premium anomaly of the British pound and the euro pp. 140-156

Axel Grossmann, Allissa A. Lee and Marc W. Simpson

Is the accrual anomaly robust to firm-level analysis? pp. 157-165

Maria Strydom, Michael Skully and Madhu Veeraraghavan

Modeling and forecasting the additive bias corrected extreme value volatility estimator pp. 166-176

Dilip Kumar and S. Maheswaran

Forward–futures price differences in the UK commercial property market: Arbitrage and marking-to-model explanations pp. 177-188

Silvia Stanescu, Radu Tunaru and Made Reina Candradewi

Performance and performance persistence of UK closed-end equity funds pp. 189-199

Don Bredin, Keith Cuthbertson, Dirk Nitzsche and Dylan C. Thomas

Exposure, hedging, and value: New evidence from the U.S. airline industry pp. 200-211

Stephen D. Treanor, Daniel A. Rogers, David Carter and Betty Simkins

Speculate against speculative demand pp. 212-221

Owain ap Gwilym, A. Kita and Qingwei Wang

A microstructure analysis of the carbon finance market pp. 222-234

Don Bredin, Stuart Hyde and Cal Muckley

Investor attention and information diffusion from analyst coverage pp. 235-246

Mei-Chen Lin, Chu-Hua Wu and Ming-Ti Chiang

The structure of corporate boards and private benefits of control: Evidence from the Russian stock exchange pp. 247-261

Alexander Muravyev, Irina Berezinets and Yulia Ilina

Are CDS spreads predictable? An analysis of linear and non-linear forecasting models pp. 262-274

Davide Avino and Ogonna Nneji

The determinants of multiple bank loan renegotiations in Europe pp. 275-286

Christophe Godlewski