Finance Research Letters

2004 - 2025

Current editor(s): R. Gençay

From Elsevier
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Volume 75, issue C, 2025

Fintech and urban entrepreneurial activity

Rui Xuan Yang and Zhe Liu

A look across the big pond and into the abyss — Performance of earnout deals in Europe and in times of crisis

Niklas Dahlen, Yannik Dittmann and Maximilian Schreiter

Trust as a driver in the DeFi market: Leveraging TVL/MCAP bands as confidence indicators to anticipate price movements

Mar Grande and Javier Borondo

Environmental courts, financing constraints, and corporate green innovation

Siheng Wang and Xin Zhang

The impact of rating announcements on stock returns: A nonlinear assessment

Marco Corazza, Giacomo di Tollo and Gianni Filograsso

Is faster information transmission always better?

Yu Yan, Yan Tong and Yiming Wang

Ownership structure, cross-listing, and stock price crash risk

Qingyong Xu, Junzhi Zhang, Daqian Yu, Chunying Yu, Jiaxin Fu, Xiaoye Chen and Juan Tian

Regulatory penalties and the growth of the insurance companies: Empirical evidence from China

Ning Zhang, Yabei Li and Hao Li

Impact of judgment readability on financial crimes

Jalaj Pathak

Impacts of banking competition on firm performance and the mediating effect of financing constraints

Zirui Zhou, Yuanxu Li, Mingzhen Liu and Ting Tian

The impact of digital finance on the social governance capacity

Mengzhi Xiong, Xuan Yang and Bihui Huang

Effect of marketing expenditures on supply chain finance: Moderating role of customer concentration

Haixia Zhao and Hui Zhang

Legal system environment and banking risk

Ruiqi Yang and Man Guo

Comparative analysis of risk measures for optimal hedge ratio determination

Fernanda Maria Müller, Leonardo Teixeira Spindler and Marcelo Brutti Righi

Does increased digital transformation decrease corporate cash holdings? The moderating role of business environment quality

Huong Vu Van and Cuong Ly Kim

Predicting U.S. bank failures and stress testing with machine learning algorithms

Wendi Hu, Chujian Shao and Wenyu Zhang

Does dual-class share structure increase risk-taking? Evidence from Chinese firms in the United States

Ling Ye, Jiaming Tian and Na Wang

Financial geographic structure, Market competition, and corporate financialization

Yudong Zhang, Fengwen Wang, Yunxu Zhou and Nannan Zhao

Enhancing high-dimensional dynamic conditional angular correlation model based on GARCH family models: Comparative performance analysis for portfolio optimization

Zhangshuang Sun, Xuerui Gao, Kangyang Luo, Yanqin Bai, Jiyuan Tao and Guoqiang Wang

How do systematic risk spillovers reshape investment outcomes?

Miaomiao Tao, David Roubaud, Aviral Kumar Tiwari and Emilson Silva

Unpacking the impact of the capital requirement regulation on non-performing loan dynamics in EU banks

Inga Urbonaviciute

Mandatory CSR expenditure regulation and credit ratings: Evidence from India

Neetu Yadav and Satish Kumar

Green technology innovation in enterprises and financial market valuation

Yaxian Guo and Bisong Dong

Risk evolution along the oil and gas industry chain: Insights from text mining analysis

Shanshan Feng, Ke Ma and Gongpin Cheng

ESG performance and corporate environmental investment: Incentive or inhibition?

Yue Li, Xiaoxia Zhao and Xinfang Yang

Correlation among climate risk, climate policy uncertainty, and carbon-intensive stock markets in China

Yuxuan Zhu, Yike Liu, Ye Zhou, Xiaoyun Xing and Xiuya Wang

The impact of SOE defaults on municipal corporate bond spreads in China

Zhilin Zhang

Cross-country gender bias and corporate cash holdings

Jaroslav Horvath and Kyre Dane Lahtinen

Knowledge-based multiplex network reconstruction and influential substructure identification of stock time series: An application to the Chinese A-share market

Xiaoqi Zhang, Peilin Du, Yanqiao Zheng, Zexuan Zhang and Jiayi Yao

ESG incidents and M&A decisions

Hongyu Cai and Qiyun Deng

Specialization in Bank Lending and short-term debt for long-term use: Evidence from China

Zengfu Li, Zhijun Yu, Zhihao Yang and Zijia Ding

How digital transformation can affect corporate technology innovation: The role of income gap

Xiaoqi Li and Siyi Zhu

Open government and corporate misconduct: Evidence from China

Zeyu Sun, Ye Zhou and Xiaoguang Yang

Managerial overconfidence and corporate digital transformation

Li Zhang and Xinwei Song

Internal control level and enterprise strategic aggressiveness

Zhiyuan Cheng

The mediating role of supply chain digitization in the relationship between cross-border e-commerce development and regional economic growth

Xiaowen Wang, Hui Zhang and Meng Shi

Corporate social responsibility under the influence of management tone

Yiwei Bai, Daokun Wang, Chenxin Sun and Wei Zhang

A novel content-based approach to measuring monetary policy uncertainty using fine-tuned LLMs

Arata Ito, Masahiro Sato and Rui Ota

Can digital financial development improve the accuracy of corporate earnings forecasts

Peipei Wang and Hongli Wang

Corporate short-termism and the use of performance-sensitive debt

Zixia Miao, Yiping Huang and Yingyi Lv

Risk spillovers between the BRICS and the U.S. staple grain futures markets

Ying-Hui Shao, Yan-Hong Yang and Wei-Xing Zhou

Financial literacy, old-age dependency ratio and household fraud risk

Wei He, Wenhao Ling and Ziyi Chen

Environmental regulation, opening up to the outside world, and regional green industry development: Policy effects and optimization strategies

Yuantian Li, Haoyu Xu, Huiru Li and Yingming Xu

Do good and talk about it: The impact of investor relations quality on ESG ratings

Lennart Bock, Toni W. Thun and Henning Zülch

Analyzing market efficiency: The role of business cycles, risk aversion, and Occam’s razor in the Adaptive Market Hypothesis

Viktor Hřebačka

Valuing financial data: The case of analyst forecasts

Zhenghui Li, Yanting Xu and Ziqing Du

ESG transition incentives with loan guarantees

Wenyang Xu, Zhaojun Yang and Nanhui Zhu

The idiosyncratic volatility of volatility effect in the A-share market: An interpretation based on heterogeneous variance beliefs

Zhijun Hu, Xiang Gao and Aifan Ling

Effect of new subway openings on corporate employee compensation: Evidence from China

Zhaomin Li, Minting Zhou, Hanwen Xu and Chunchun Jia

Pension levels, social activities, and household consumption

Bowen Qu

The effect of corporate social responsibility on total factor productivity: Insights into managerial myopia and innovation mediation

Yabin Sun

Exploring the correlation between financial leverage and corporate bond credit spreads

Zi Lin, Qing Yang and Shasha Chen

How does media attention affect corporate credit asset allocation efficiency?

Peng Cao and Rong Huang

Impacts of human resource attention and financial agglomeration on regional innovation

Yamin Zhang, Zihan Ding and Zhaoxi Liu

Digital economy, environmental regulations, and green economic development

Yuantian Li, Haoyu Xu, Huiru Li and Yingming Xu

Environmental courts, environmental investment, and corporate carbon emissions

Zhenxiang Luo and Xiaolin Zhou

Environmental protection tax, management efficiency, and enterprise green technology innovation

Yang Zhou and Qian Su

Digital economy, the income gap, and regional crime rates in China

Yunxian Li and Fen Li

Can financial innovation and industrial structure upgrading reduce regional criminal activity levels?

Huasheng Huang, Xiaoli Xu and Shilin Du

Impact of green credit policy on green innovation in construction enterprises

Yongmin Zhang, Liangyu Chen, Alkut Yusuyin and Liya Hau

Dynamic tail risk connectedness among green REITs, sustainability products, and fossil energy assets under external shocks

Liya Hau, Yao Ge, Yongmin Zhang and Weineng Zhu

Advancing financial risk management: A transparent framework for effective fraud detection

Wenjuan Li, Xinghua Liu, Junqi Su and Tianxiang Cui

Can deep reinforcement learning beat 1N

Garvin Kruthof and Sebastian Müller

Customer ratings and firm value: Evidence from big data analysis of online consumption in China

Qianqian Du, Dongmin Kong, Yanglin Li and Kuicheng Ye

Impact of enterprise artificial intelligence on social responsibility: Evidence from text analysis

Ying Yang, Ran An and Jie Song

Macroeconomic determinants of the stock market: A comparative study of Anglosphere and BRICS

Andreas Humpe, David G. McMillan and Alfred Schöttl

Government-led green supply chain demonstration and corporate maturity mismatch: Evidence from China

Muyan Liu, Lu Shen and Yuehan Yan

The impact of weather shocks on rural credit cooperatives

Chengtao Deng, Mengfu Han, Jun Luo and Junjie Zhang

Do climate risks matter for intersectoral systemic risk spillovers? Evidence from China

Xin Hu and Bo Zhu

Can switching between predictive models and the historical average improve bond return predictability?

Runqing Wan and Bingxin Ann Xing

Does financial openness mitigate carbon emissions? Evidence from a cross-country study

Xiaobo Fang, Dahai Fu, Yushi Xian and Ying Zhang

The long arm of the Leviathan: Common ownership and corporate greenwashing

Li Wang, Jingran Zhu and Wenjun Ji

On the relationship between geopolitical risks and euro area sovereign bond yields

Vassilios Papavassiliou

Local gambling preferences and insider trading profits: Evidence from China

Jiarui Tong and Dixin Wu

How do financial markets price political uncertainty? Evidence from the 2024 United States presidential election

Matthew Flynn and Augustine Tarkom

(In)Frequently traded corporate bonds and pricing implications of liquidity dry-ups

Alexey Ivashchenko

Does credit growth predict lower returns for large banks?

Arpit Kumar Parija

How digital marketing capabilities mitigate the impact of financing constraints on investment performance in industrial enterprises

Jialin Li

Does corporate ESG news impact firm productivity?

Joseph Arthur, Francis Bilson Darku and Abena Fosua Owusu

How do timing and narrative tone influence the impact of pro-environmental orientation on crowdfunding performance?

Ruichen Ge, Sha Zhang and Hong Zhao

Beyond the hype: Unauthorized immigrants and the myth of rising house price

Steven Shu-Hsiu Chen, Xinhui Huang and Wei Li

Business environment and industrial chain resilience

Yunjian Zheng, Yani Guo and Jiale Yan

New bounds for tail risk measures

M. Ángeles Carnero, Ángel León and Trino-Manuel Ñíguez

Detecting exuberance phenomena in thematic investing

Maria Debora Braga, Giulia Genoni and Gianmarco Vacca

The nexus between carbon, energy and agrifood—A contemporaneous and lagged spillover analysis

Benjamin M. Tabak, Ives Cezar Fulber and Matheus B. Froner

Green lending: A route to improved loan quality in Indian banks

Vidya Mahadevan, Vikas Srivastava and Sowmya Subramaniam

Environmental, social and governance controversies and systematic risk: A machine learning approach

Mohammad Hassan Shakil, Arne Johan Pollestad and Khine Kyaw

Food inflation and macroeconomic dynamics in the US: Evidence from an estimated DSGE model

Xiaoke Zhu and Xiaohua Yu

How does digital transformation enhance industrial chain resilience? Evidence from China

Kaili Sun, Haohan Wang and Shengchao Ye

Multi-piecewise linear double barrier options

Hangsuck Lee, Minha Lee and Hongjun Ha

The paradox of government-guided funds: A negative impact on corporate ESG performance?!

Xubo Zhang, Xinyu Zhang and Yanbin Tu

Digital transformation, innovation investment and quality

Fei Li and Nana Zhang

ESG rating disagreement and corporate digital transformation

Hao Ren

The impact of higher education revitalisation on regional innovation capability

Heng Yang, Guimin Ma and Bo Tan

How does industrial policy affect corporate M&A Activities?

Jingjing Guo, Zhihong Huang and Baicheng Zhou

Corporations’ digital attitude and digital technology innovation: Are the heart and mouth in agreement or not?

Weijian Du and Mengjie Li

Does mobile payment adoption increase household portfolio diversification? Evidence from China

Weisong Qiu

The impact of digital transformation on firm productivity: From the perspective of sustainable development

Changhao Song, Minchun Han and Hankun Yuan

Does equity crowdfunding enhance the survival of sustainability ventures?

Belinda Laura Del Gaudio, Aristogenis Lazos and Daniele Previtali

Green innovation through artificial intelligence technology: Enhancing environmental, social, and governance performance

Min Weng

The influence of trade policy uncertainty on corporate innovation strategies

Fang Zheng, Xue Chen and Yun Sun

Cross-region analysis of the environmental performance of green bond issuers

Tchuiendem Nelly Joel, Haitao Zheng and Bing-Yue Liu

Allocation of decision rights in business group and the corporate greenwashing behavior

He Li and Naiyu Shi

Cybersecurity policy and corporate R&D investment

Huihui Nong, Yinghao Lin and Quankun Zhang