Finance Research Letters

2004 - 2026

Current editor(s): R. Gençay

From Elsevier
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Volume 111, issue C, 2026

Basel III capital regulation and bank behavior

Mario Miguel, Eric Parrado and Diego Santana-Fombona

Equipment-based digitalization’s productivity burden: The complementary role of AI investment

Lingling Cao, Ruixue Zhu and Xuanjiang Liu

Does the intensity of local government tax collection and administration exacerbate financing constraints for small and medium-sized enterprises ?

Xiaoping Zhang, Yongtao Liu and Ruowang Zhang

Capital gains overhang model with dual reference points

Xilai He and Gang Kou

Transaction-based machine learning under restricted feature availability for short-term credit distress under a structural shock

Manou Monteux, Maria Cristina Arcuri, Gino Gandolfi and Marco Riani

Data factorization process, supply chain finance information transparency, and firms’ credit availability

Bo Liu and Gang Wang

Digital technology innovation and corporate bond credit spreads

Mengran Duan, Xiaocheng Li and Chongluan Lu

When do machine-learning equity signals realize? Evidence from the S&P 500 and KOSPI

YeoHoon Yoon and Kyung-Sung Kim

Carbon price volatility and stock returns

Aryan Goswami and Sebastian Rink

Financial market opacity and systemic liquidity risk

Bidisha Chakrabarty, Samarpan Nawn and Roberto Pascual

A study on the synergistic effect of digital finance and information disclosure quality in easing corporate financing constraints

Haoliang Chen, Ruiying Guo and Yunyun Jin

Hiring and hoarding: How managerial expectations shape corporate employment

Chanjuan Zhang and Enming Zhang

Technology decoupling and corporate liquidity reallocation: Evidence from U.S.–China Patent Citations

Rujie Fan, Di Wu and Xiang Chang

Multimodal visual reasoning in asset pricing: evidence from cryptocurrency technical analysis

Mengtao Chen, Yue Fang and Hua Wang

When prediction markets disagree: Cross-platform dispersion and equity volatility in the 2024 U.S. election

Emrehan Aktuğ and Orhan Torul

Who can time which market? Domestic and international timing across the return distribution of UK investment trusts

Pankaj Avinash Chandorkar

Forecasting oil volatility direction with news: A language model and regime-aware SHAP approach

Romina Hashami and Felipe Maldonado

Research on the synergistic impact of digital economy and financial development level on technological innovation

Lijie Shen, Bowen Cai, Yingqi Liu, Yanshuo Song and Shuang Zhang

Effects of flow-based and lump-sum subsidies on corporate investment and capital structure

Shuya Yang, Congming Mu and Xiaohuan Xu

DeFi interest rates and treasury yields

Siddharth M. Bhambhwani

Network fragility and equity drawdowns: Early warning evidence from Indian sectoral markets

Mohammad Zeeshan

Supply chain concentration and financial flexibility under uncertainty

Meiling Hong, Yi Zhou and Zhuang Yang

Corporate environmental investment intensity and ESG ratings: evidence from Chinese listed firms

Erhui Hao and Junzhe Ma

Energy costs versus monetary scarcity: A comparative analysis of bitcoin valuation drivers

Zaur Abdullazade

Institutional contingency of AI credit scoring: Evidence from SMEs in China and Kyrgyzstan

Zhaoyi Liu, Yuanhao Wang and Yifan Ren

Deflation and financial stress in the great recession

Thomas L. Hogan

Public finance for ecological restoration and ecological innovation: The roles of corporate biodiversity risk exposure and government contracting

Kun Ya, Shuangpeng Zhang and Umeair Shahzad

Siphon or spillover? Land-backed fiscal expansion and urban–rural inequality

Ling Wang, Siyuan Tang and Yajun Zhang

Relative sensitivity and state-dependent volatility

Thej Swaroop Reddy Kakuturi and Hemachandra Padhan

Research on the impact of data transaction control intensity on regional financial innovation efficiency-Empirical analysis based on double continuous adjustment variables

Hongyi Li and Hongjin Chang

FinTech, institutional conditions, and financing frictions: evidence from China’s low-altitude economy

Chia-Jung Lee, Yi-Yu Weng, Yu-Cheng Lin and Pengyu Yang

The nonlinear impact of corporate digital transformation on audit fees

Ruochen Zhao, Shumei Zhu and Jiaxuan Li

Financial regulatory technology and the risk-taking behavior of new energy enterprises

Yijia Huo and Na Wang

From data markets to credit: Data asset valuation, information frictions, and SME financing

Rui Li, Yumei Chen and Xiangjian Zhang

The digital paradox: underwriter digital transformation and IPO pricing efficiency

Jing Chen, Hongrui Zheng, Rongqian Chen and Chang Liu

How does AI washing influence manufacturing sector carbon lock-in?

Zhechao Xiong and Taozhen Huang

Can the AI innovation application pilot zone policy enhance corporate supply chain finance? Evidence from a quasi-natural experiment in China

Luyu Sui, Zihe Wang and Qiyue Huang

Bankruptcy reform and real earnings management: evidence from zombie firms

S Yesaswi Dora, Ajay Kumar Mishra and Yogesh Chauhan

Can patient institutional investors and media monitoring curb corporate AI washing?

An Yan, Qiaorong Yin, Ying Liu and Xiumei Fu

Reconciling machine learning forecasts with equilibrium pricing: A hybrid CAPM–ML framework for portfolio optimization

Jayanta K. Pokharel, Binod Rimal and Netra Khanal

The effect of geopolitical risk shocks on long-term U.S. Treasury yields

Jisheng Zhang

Media attention, financial support and capital market pricing efficiency

Lina Zhu and Yuxia Gong

Central bank digital currency and accounting conservatism: Evidence from China’s e-CNY pilot

Xiao Chen and Yue Sun

Early warning systems for systemic banking distress: Persistence, covariates, and predictive performance in small macroprudential panels

Hedson Malata

Science and technology bank branch establishment and the supply-chain resilience of SRDI enterprises

Ying Xiong, Jie Tian and Xiaosu Lei

How does FinTech transform intangible cultural heritage into financial resources?

Tongyun Wang, Wei Gao, Jianhao Jin, Honglei Shi, Hongzhen Tang and Haizhen Zhang

Shipping frictions and cryptoasset repricing: Evidence from Hormuz events

Qihan Liu, Yunjie Wei and Shouyang Wang

Macroprudential credit guidance and corporate AI innovation: Evidence from China’s 2019 MPA adjustment

Binbin Chang, Qingyuan Shen and Haiyue Liu

Tail risk and the persistence of U.S. Monetary spillovers to China’s capital-flow pressure

Yanzhe Zhang, Xiwen Lv and Jian Zhang

Tax outcome smoothness and the cost of equity capital

Natalie Kyung Won Kim and Taejin Jung

Rents from restriction: Equity-market response to China’s october 2025 rare-earth export controls

Jin Sun

The horizon structure of diversification: Effective dimension across post-2020 market regimes

Payam Mehr

When does news media sentiment matter for commodity futures returns? Evidence from China

Ningli Wang, Enping Yu, Jiaqi Shi and Zhongxin Ni

Inter-firm payment reallocation after climate shocks

Thiago Christiano Silva, Paulo Victor Berri Wilhelm, Solange Maria Guerra and Benjamin Miranda Tabak

Spatial effects and uncertainty in cryptocurrencies – the case of network ARCH models

Mihai-Adrian Achim, Ștefana Belbe, Codruța Mare and Philipp Otto

Agricultural credit and the nonlinear governance–efficiency relation: Evidence from China

Ziman Chen, Shun Li and Ming Yang

Spatial exposure to biodiversity risk and the cost of debt financing

Jia Liu, Nina Chen, Ke Xiong and Guojun Wang

Extreme climate risk, media supervision, and the capital market pricing of corporate carbon emissions

Changyan Bai, Jinhua Pang and Liang Wang

Do electricity prices predict the returns and volatility of cryptocurrency mining companies? Evidence from GARCH and machine-learning models

Werner Kristjanpoller, Benjamin Miranda Tabak, Aldo Araneda and Elie Bouri

Stablecoin competition and community bank deposit funding

Bridger K. Allen, Kyle D. Allen and Matthew D. Whitledge

Can artificial intelligence development effectively reduce corporate consumer complaints? Evidence from China

Zhisheng Wang and Mengcheng Guan

Organizational monitoring costs and credit contracts standardization

Andrea Bellucci, Alexander Borisov and Alberto Zazzaro

Does executive environmental awareness impact green investor participation?

Guoyiming Zhu, Yang Pang, Linzhi Liu and Fu Yu

CEO financial background and corporate digital innovation

Yao Fu and Dapeng Liang

Sci-tech finance, artificial intelligence adoption, and eldercare industry development: Evidence from Chinese listed companies

Yongdong Chai, Zhijie Xu and Qin Li

Wholesale revenue cap removal and intraday market liquidity: evidence from the Greek XBID market

Stylianos Miliarakis and Aggelos Tsakanikas

The effect of litigation exposure on firm boundaries

Ayman Samak, Muhammad Rofiqul Islam, Emily De Los Cobos and Asha Moni Mistry

Did spot crypto ETFs reallocate venue liquidity? Fragile evidence

Hojun Kang, Kyuyeon Hwang, Yong-Ki Lee and Sang-Gun Lee

Global equity market reactions to the 2026 US–Israel–Iran Conflict

Dharen Kumar Pandey, Anand Kumar and Younes Ben Zaied

Microstructure noise decomposition: a liquidity–adjusted volatility estimator

Seungho Shin and Jiayuan Tian

Drivers and mechanisms of corporate climate risk disclosure: Evidence from executives with environmental backgrounds

Shenzhen Zhao, Chang Su, Xiaoyan Sun and Yue Yuan

A composite biodiversity risk index for mapping material exposure

María José Ibáñez and Roberto D. Ponce Oliva

Retail investor AI usage, investor attention, and stock price synchronicity: evidence from China

Zhenxing Su, Jinrong Wang and Yu Jia

Do cryptocurrency market shocks affect crash risk in technology stocks?

Aktham Maghyereh

ESG performance and stock price informativeness: Evidence from China

Vladimir Zamorin, Yinan Suo and Frederik Rech

Tech-finance policies and innovation structure: The unintended role of transient institutional investors

Pengcheng Wang, Miaoying Fang, Mengchi Li and Yutong Yan

Generative AI and the homogenization of analyst forecasts

Jianxiang Zhang and Xinzi Xia

Green technology innovation and advanced productive forces: Evidence from Chinese firms

Lijuan Ma and Xinyu Hu