Finance Research Letters

2004 - 2026

Current editor(s): R. Gençay

From Elsevier
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Volume 93, issue C, 2026

Environmental litigation risks and dynamic adjustment of firm capital structure

Wenjia Deng

Intelligent revolution of educational resources: AI-driven reallocation effects and economic consequences

Bo Yang, Hao Hu and Yixuan Li

Industrial robot adoption and household entrepreneurship

Zhihui Song, Xiaoying Zhao, Ziqiang Peng and Yixin Dai

Is ESG more comprehensive than governance? What dividends reveal

Nina Anolick, Helena Posselt and Niklas Wagner

Indirect import, intermediate trade liberalization and corporate innovation

Guanhong Jiang and Zixiao Yan

Can value-added tax reform improve the export competitiveness? Evidence from China

Chao Meng and Yimei Zhang

When deregulation wins: Cross-sectional evidence from the 2024 Trump election

Alan Kwan, Cagri Berk Onuk and Ekaterina Volkova

Can the construction of confucian academies reduce the moral risk of executives? An analysis based on the intermediary effect of violations by listed companies

Jing Xu, Yanfang Liu and Chaoxia Yao

Cryptocurrency price dynamics during supply chain disruptions: A quantile-on-quantile connectedness approach

Meriem Youssef, Salma Gallas and Christian Urom

Physical settlement, liquidity, and price discovery in single stock futures; evidence from Panel Vector Error Correction Model

Sangram Keshari Jena and Amine Lahiani

Digital media information and household stock market participation: Evidence from China

Jing Hao, Ran Sun and Ziqiao Wang

How does rural e-commerce affect innovation and entrepreneurship

Hanyue Li, Ruihan Liu, Jiayun Zheng and Shuaigang Dong

Can commercial paper exchange promote corporate green innovation? Quasi-natural experimental evidence from China

Peide Lai and Shuaiqi Xu

Analysis of the economic effects of China's construction of a unified national market

Xingwei Ren

China–US relations and overseas capital allocation of chinese firms

Haochen Chai and Yunjing Wang

Digital trade, legal environment, and corporate financing constraints: Evidence from China

Siyu Zhou and Yunyi Gao

Supply chain digitalization and disruption risk: The roles of resilience and financing constraints

Jinfei Zhang

Can ESG construction enable enterprises to move from virtual to real?

Yunpeng Cai, Yang Yu, Yue Ma and Hong Chen

Weather alerts and stock market reactions: Evidence from China

Meng Wang, Yixue Duan and Guang-Zhao Yang

Public scrutiny and green spillover in buyer-supplier relationships: Exploring contingent effect of embeddedness

Zijia Liu, Chenfei Jin, Bao Wu, Tongtong Shen and Qiuyang Gu

Bundled guidance types and changes in expected volatility

Thaddeus Neururer and George Papadakis

Spillover effects of climate risks on stock markets: A sectoral analysis

Ali Kemal Çelik, Ömer Yalçınkaya, Yakup Söylemez and Hakan Cavlak

The monitoring effect of CSI 300 inclusion: Evidence from enterprise risk management adoption

Haiyan Dong and Yu Shen

How host country fintech levels affect cross-border M&A by Chinese companies

Fang Dong, Jia Liu, Baobing Feng and Yiduo Wang

Digital traps: The compounding impact of BNPL and social media on consumer financial stress

Ficawoyi Donou-Adonsou and Neleen Leslie-Piper

High-dimensional expected utility portfolios under the spiked covariance model

Hua Li, Luying Liu, Ningning Xia and Mengkang Yu

Managerial digital background and corporate investment efficiency

Jingyuan Hou and Luogang Chen

Digital trade, financial accessibility, and cross-border capital flows

Tongtong Sun and Qiang Fu

Pairs trading — Selection via scoring systems

Lukas Reichmann

Determinants of fishing vessel value: A case study of the italian fleet

Gianluigi Coppola, Monica Gambino, Loretta Malvarosa and Dario Pinello

Effects of financial risk on tax avoidance: Mechanisms and moderating effects

Chunhua Liu, Zihao Deng, Guanning Ruan and Kaihong Tan

ESG controversies and the cost of debt and equity: Evidence from Europe

Daniele Arcidiacono, Giuseppe Fraccalvieri, Alessandra Caragnano and Domenico Frascati

Volume 92, issue C, 2026

Impact mechanism of top management team heterogeneity and financial misallocation on corporate resource allocation efficiency

Xinxiang Gao, Shan Liu, Guangming Xiong, Jiawen Yu, Haochuan Xu and Junhua Yang

Advanced human capital, credit resource misallocation, and corporate sustainable development performance

Peiqi Xu and Shu Fang

Can digital economy development attract foreign investment? Evidence from Middle Eastern countries

Wen Yao

Idiosyncratic volatility

David Feldman, Chang-Mo Kang and Yifan Zhao

Impact of regional green finance development on green transformation of enterprises

Shuai Huang, Yiqing Wang, Siqi Li and Dongliang Pan

Can digital innovation promote regional green consumption?

Jun Shan, Tianyu Zhao, Tianyu Xu and Jia Xue

Dual-objective autoencoder framework for Taiwan 50 index sparse portfolio

Chi-Sheng Lo

Does tourism development improve women's employment? evidence from belt and road countries

Chenyuan Li, Yunshui Zhou and Jingyuan Xiao

Concentration of higher education resources, regional innovation potential, and development finance support strategies

Bin Li and Lu Gao

Digital infrastructure development and credit constraints

Xueliang Lv and Yutong Xue

New patent law, financial security, and data leakage risk management

Hairan Yu

Guiding capital to carbon neutrality pressure: Comparing market-driven green finance and government-led fiscal policy

Xinxin Yu, Xiangqin Xu and Mingdong Jiang

Financial mechanism of digital rural construction in promoting agricultural productivity and rural modernization

Qinyue Song, Zhenfu Han and Zhengxin Shi

Rethinking Short-Termism: When shareholder impatience reduces short-termism

Wolfgang Breuer, Andreas Knetsch and Luis Maria Siemer

Regional integrity, financing constraints, and corporate innovation

Yingying Yang and Hui Zhang

The divergent effects of geopolitical risk on market openness

Zhou Lu, Giray Gözgör, Shreya Pal, Himanshu Sekhar Panda and Mantu Kumar Mahalik

Green technology application, open finance, and the path to carbon neutrality: an empirical analysis based on China and Germany

Tianshui Lin and Xiangtian Li

How CEO succession models influence corporate ESG outcomes: Evidence from CEO turnover

Zehua Guo, Xingxing Peng and Chao Yang

Impact of data as a production factor on the low-altitude economy

Shenghan Huang and Huan Hua

The spillover effect of enterprise integration of real industry and technology: a supply chain perspective

Bingkun Su, Jin Wang and Banglu He

Examining the effects of judicial protection of intellectual property rights on innovation efficiency of technology-based small and medium-sized enterprises in the context of digital finance

Dana Han, Hui Liu and Hui Du

Digital government governance, supply chain finance empowerment, and enterprise innovation efficiency

Yiyu Wang, Zixuan Wang and Zhaojun Meng

Dynamics of monetary policy regimes in China under rising global uncertainty: A time-varying approach

Eun Young Oh, Georgios Magkonis and Shuonan Zhang

Foreign investment screening and cross-border M&A in sensitive sectors: Evidence from Germany

Orçun Kaya, Mehdi Mostowfi and Sugandhita Sugandhita

Impact of social insurance contribution burden on corporate debt financing: mechanisms and microeconomic consequences

Yutong Wang and Zengwen Wang

Can media supervision enhance corporate environmental compliance? The roles of information transparency and financing constraints

JiaLiang Guo and Chao Zhang

Executive digital backgrounds and firm investment efficiency

Hong Yang and Yuzhen Pan

International spillover effects of geopolitical risks on economic growth

Hakan Yilmazkuday

Front-end or end-of-pipe? the impact of the government focus on corporate environmental investment choices

Ke Liu, Linjun Cao and Jian Zhou

Climate risk and internal pay gap

Xiaolin Kong, Sabri Boubaker, Yong Jiang and Yi-Shuai Ren

Uneven tax enforcement and cross-regional capital flows: The role of economic resilience and industrial agglomeration

Mingyue Fu and Pengfei Zhu

The impact of extreme precipitation on agricultural enterprises’ insurance purchasing behavior

Qianting Ma, Ruonan Xi, Zhenxian An and Yueshu Zhou

Fintech and urban-rural integrated development: a human capital perspective

Shengbin Wang and Jiayi Song

Blockchain Investment, dual-class share structure, and asset pricing efficiency

Yueyang Qiu, Xuebao Yin and Nan Hu

Climate risk and corporate cross-boundary digital innovation: An analysis based on the threshold effect of green digital finance

Yue Zhu and Yuyang Wu

Digital marketing, social media sentiment, and corporate cash flow

Yang Zhang and Manru Jiang

Monetary policy surprises and the distribution of art-market returns: evidence from panel quantile local projections

Ziwen Chen

How digital capabilities affect tax planning: The internal information environment

Liping Xu and Lirong Zhang

Big data recommendations and portfolio diversification: evidence from account-level data

Chenhao Wang, Ting Zhang and Shanyi Zhu

Establishment of big data comprehensive experimental zones, financial resource allocation, and enterprise innovation

Boren Gao, Haibin Tang and Yibin Luo

Energy transition and corporate risk-taking

Hong Fang, Feng Xu, Xiaohui Wang and Yue Pan

The dynamics of managerial myopia across CEO tenure stages

Bao Qi, Jianxiang Liu and Fan Hu

Can executive diversification tackle the green innovation bubble? The dual innovation challenge

Yanbin Sun and Min Zhang

Predicting cryptocurrency volatility: Climate policy uncertainty versus environmental attention

Skander Slim, Mohamed Osman and Yosra Koubaa

Digital economy-driven sports industry: The synergistic effects of data factorization and tourism upgrading

Zhaoyong Liu and Jingfang Zhao

Digital finance, financial regulation and green innovation in agricultural enterprises

Liu Xuan and Huo Xuexi

Climate policy uncertainty and green premium: Evidence from China

Daoju Peng, Siyu Du, Jing Li and Jianfu Shen

Co-moving systems with explosive regressors and time-varying volatility: Evidence from the Spanish housing market

Omar Blanco-Arroyo, Vicente Esteve and María A. Prats

Business environment and industrial chain: Evidence from a quasi-natural experiment in China

Shiyu Dun

Religiosity and corporate cash holdings: International evidence

Xingyu Chen, Zhengyifan Chen, Yingqi Li and Steven Xiaofan Zheng

Investigation of the guiding effect of watershed compensation policy on green credit issuance: Evidence from environmental law enforcement

Xiuqin Zhang and Siyu Zhou

Does data asset disclosure reduce corporate financing costs? Evidence from China

Yong Wang

Green credit subsidies policy, artificial intelligence investment, and corporate green innovation bubbles

Qiaoyan Sheng and Yan Lv

Impact of China’s climate-resilient city pilot policy on enterprises’ green technological innovation

Xiaowei Zhang, Jiayin Liu and Fan Wang

The risk-reducing effect of ESG investment: Evidence from mutual funds

Ruochen Li, Shuyu Xue, Quansheng Xuan and Xue Cui

The impact of digital inclusive finance on urban-rural income gap

Mei Yang and Haolun Sun

Artificial intelligence investment, data factor accumulation, and enterprise digital transformation performance

Ling Bai and Dengfeng Cui

Social credit system construction and corporate rent-seeking: Evidence from China

Peng Liu, Jianfei Shen and Hualong Li

How does green finance policy improve urban ecological resilience? Evidence from a quasi-natural experiment on green credit interest subsidies

Lili Wei, Lingjun Li and Fengjuan Kou

Mortgage pricing, borrower-based limits, and retention

Endre J. Reite, Are Oust, Rune Bach and Jakob Holst

The impact of family firm intergenerational succession on innovation Bubbles

Songyang Yu

Exploring the financial mechanisms of digital inclusion in promoting farmers’ income

Qinyue Song, Mingyi Yan, Zhengxin Shi and Zhenfu Han

Pricing Green Bonds Under Externalities: How do market signals and government intervention affect project emission reduction and bond pricing?

Huiling Huang and Yixiang Tian

How does financial regulation drive financial technology innovation? The role of government subsidies and financing constraints

Chengshan Hang, Jingdong Yan and Wensheng Yan

Media environmental coverage and corporate green innovation: A dual-mechanism test based on incurred regulatory pressure and institutional investors’ green attention

Liang Chen, Kowkam Zhang and Longlong Duan

Cash or card – combat or coexistence? A non-cooperative differential game approach

Paolo Bartesaghi, Edoardo Beretta, Marco Desogus and Ralf Korn

Government myopia and corporate environmental investment: Evidence from urban policy text analysis

Yaxin Wang, Siyu Wang and Yan Li

Artificial Intelligence startups and financial conditions: Evidence from Italy

Elisa Giaretta and Francesco Zen

From vision to value: Stock chart image-driven factors and their pricing power

Jun Young Byun, Yosep Na and Jae Wook Song

Research on asset allocation strategies based on robust risk parity model

Yifan Li and Zhenjun Ye

ESG as a conditional risk buffer: Idiosyncratic volatility and tail losses across market regimes

An Thi Thuy Duong

Digital finance and supply chain resilience of manufacturing firms

Haohua Liu and Qiang Pan

How does government attention to new quality productive forces affect corporate labor income share?

Nutao Yu, Cao Peng and Kejin Chen

Abnormal weather shocks and US state level municipal bond returns

Oguzhan Cepni, Ufuk Can and Ahmet Faruk Aysan

Can local executives effectively curb corporate "greenwashing" ?

Yaodan Hu, Sirui Chen, Wen Zheng and Zhen Zhu

How does state-owned capital participation suppress excess goodwill in private enterprises?

Hong Chen, Yuheng Meng, Lifu Liu and Minrui Du

How does digital leadership influence the efficiency of corporate labor investment?

Dong Chen

Impacts of governments’ education investment on firms’ social responsibility behavior

Xinwei Guo and Zhongguo Li

Climate vulnerability and market volatility: Evidence from European firms

Sarela Enriquez-Perales, Conrado Diego García-Gómez and José María Díez-Esteban

On survivor cryptocurrency momentum

Klaus Grobys, Davide Sandretto and Janne Äijö

Facilitating or crowding out? The role of local government debt in green bond issuance

Sidra Zia, Lin Song, Radwan Alkebsee and Adeeb Alhebri

Spatial impact of green finance reform and innovation pilot zones on industrial structure upgrading in China

Xingyan Zhang and Yu He

Macroeconomic uncertainty and systemic risk in non-financial enterprises: Evidence from China

Jianhui Li, Mancang Wang and Xin Liu