Finance Research Letters

2004 - 2025

Current editor(s): R. Gençay

From Elsevier
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Volume 77, issue C, 2025

Executive gender diversity and corporate intellectual property investment

Jintao Liu and Yutao Chen

Social responsibility, board composition, and corporate legal risk

Jing Xu and Lu Wang

Putting VAR forecasts of the real price of crude oil to the test

Reinhard Ellwanger and Stephen Snudden

The impact mechanism of industrial transformation and upgrading on the urban-rural income gap: An analysis based on the threshold effect of digital inclusive finance development

Yangyang Wang, Liangxiao Zhou, Tianqun Li and Chunyang Feng

Educational equity, inclusive finance, and sustainable economic growth

Junzhi Liu and Jianghao Li

AT-FinGPT: Financial risk prediction via an audio-text large language model

Yingnan Liu, Ningbo Bu, Zhiqiang Li, Yongmin Zhang and Zhenyu Zhao

Sustainable yet similar: Challenging the performance and risk assumptions of sustainable market indices

Mathis Leifhelm, Christian Klein and Peter Scholz

The “Betting” behavior of mutual fund families

Yanran Wu and Lili Meng

The impact of strict financial regulatory policies on corporate diversification decisions

Xiaonan Peng, Shiyou Zhu and Xixi Wu

Digital economy, internet usage, and resident satisfaction

Xinxing Li, Wasin Phromphithakkul and Hongzhou Sun

The belt and road initiative, outward foreign direct investment, and technological innovation

Guangfeng Huang, Shuying Wu and Lishuang Chen

Internal retention, shareholding structure, and equity financing capacity of innovative small and medium-sized enterprises

Huaguo Liang, Wanran Huang, Weijie Zhao and Jin Zhou

New environmental protection law, polluting enterprises and corporate green technological innovation

Sicong Yan, Yang Lv, Chaoqi Chen and Jingtian Hua

Inhibitory effect of corporate bond default risk on bank liquidity creation

Yunlu Zhu, Yuheng Ren, Linshan Zeng and Xiaowei Chen

Reevaluating intermarket connectedness: The impact of Monday return calculations on cryptocurrencies and traditional assets

Fahad Ali, Anna Min Du and Muhammad Ansar Majeed

Digital financial inclusion and intangible cultural heritage

Yuanyuan Li

Government digital governance and corporate investment efficiency

Liyuan Liu and Yi Feng

Can emergency industry demonstration base promote regional economic resilience?

Zhixiang Yin, Zongyi Yin, Zixuan An and Lulu Hao

Exploration of the impact of macroeconomic uncertainty on corporate value and investment behavior

Xing Wei and Yuxin Wang

Corporate climate risk perception and debt concentration

Zhenbang Ma, Yanxiang Xie, Kai Wang and Guifang Pu

Answering without being asked: The effect of voluntary disclosure of digital strategy on stock price synchronicity

Ruichen Zhang, Lei Wen and Ling Xu

Drivers of investment intentions across diverse cryptocurrency categories

Ji Luo, Shuguang Zhang and Cheng Zhang

Does trade friction exacerbate stock price crash risk? Evidence from China

Xiao Liu, Yabin Zhang, Zhenguo Wang, Qiao Rao and Mengmeng Yang

Commercial pension insurance and risky financial asset allocation: Evidence from elderly Chinese families

Zhixiao Liu and Xue Zhang

Impact of SciTech – Finance integration policy implementation on SME innovation performance: Mediating effect of tax burden

Biyun Xiao, Ling Chen and Haibo Li

Digital economy, agricultural loans, and urban–rural income gap

Lei Zheng and Ying Liu

Low-carbon production and corporate biodiversity concern: Evidence from Chinese manufacturing firms

Cong Nie and Chen Zhang

Forecasting the BRICS stock returns with best subset regressions

Cetin Ciner

Economic impact of cooperative management behavior on citrus production performance

Fan Yang and Jintao Zhan

Low-carbon city pilot policies, government attention, and green total factor productivity

Guang Yuan, Jun Liu and Yi Wang

Digital economy and corporate ESG performance: Cost reduction or efficiency improvement?

Yuanyang Liu, Xuemei Tian and Yang Long

The nonlinear impact of economic policy uncertainty on corporate green total factor productivity

Siqi Zou and Yang Long

Board diversity and related party transactions

Bilal Al-Dah, Mustafa A. Dah and Moataz El-Helaly

From fiscal decentralization to high-quality economic development: role of tax administration intensity

Meng Li and Yunlong Gu

Optimizing college entrepreneurial finance allocation

Xueling Nie, Hui Wang, Pengfei Zhang and Xue Han

Research on biodiversity risk and corporate short-term debt for long-term use under disclosure regulation

Guang Yang and Yu Li

Enterprise digital transformation and green competitiveness: Opportunity or crisis?

Chunmei Li, Gang Yang, Wanhuan Cai and Hanfei Shi

Can strengthening legal systems enhance regional green total factor productivity?

Zongshang Yang, Juan Li, Lijun Zhu and Haisong Chen

Can government regulation curb excessive on-the-job consumption by corporate executives?

Lijun Lu, Chengwei Wang, Limiao He, Juan Li and Yinglong Zheng

Relationship among environmental regulation costs, corporate accounting policies, and green innovation efficiency

Xueting Wang and Pinyue Qiu

Market competition, environmental, social and corporate governance investment, and enterprise green innovation performance

Heli Ji, Zhihai Yu, Tian, Grace (Li), Wang, David (Han) and Yue Wen

From premium to discount: A quasi-natural experiment in Shanghai's judicial auction housing market

Nanyang Bu, Wen Shen and Xiangyu Guo

Government procurement and corporate vertical specialization

Muci Yan, Xiaohang Ren and Zhaoyi Pan

Cultural distance, innovation capability, and corporate performance

Yuanlun Wang, Lingjuan Suo, Chunlei Li and Lele Wang

Sustainability in the supply chain, environmental, social and corporate governance performance, and corporate value

Huairuo Yin, Yu Tang and Hao Jin

How does the anti-trust policy stimulate firms' product market competitiveness? Evidence from the implementation of the Anti-trust Law

Xuezhen Gou and Shuai Wang

Analysis of corporate financialization behavior and its influencing factors under external demand shocks

Yanan Guo, Hengyan Wang and Yunyun Wu

The influence of 'Bond Connect' on corporate real earnings management

Shihan Zhang

The impact of inclusive finance and education investment on new quality productivity: The nonlinear mediating effect of education development

Yong Zhang and Daizheng Jia

Impact of green finance incentive policies on China's carbon neutrality capability: An evaluation based on the difference-in-differences model

Danting Wang and Yemeng Sun

Tax incentives, market competition, and corporate innovation

Siyang Hu, Xingyu Zhou and Ping Li

Research on the impact mechanism of financial fraud risk among urban elderly in the context of population aging: Empirical data from China aging finance forum

Shilin Cai, Yinglong Zheng, Juan Li, Da Tu and Hongli Liu

Does demolition compensation stimulate household allocation of financial assets

Jiaohui Yu, Jinliang Luo and Jian Chen

Supply chain transparency and corporate financial fraud

Zhaoyan Shang and Hanwen Chen

Impact of high-speed rail operation, ESG performance, and financial performance of listed tourism companies

Xintong Yan, Daibo Xiao, Hokai Chan, Guoxiong Zeng and Renxing Wei

Does digital transformation affect enterprise executives' remuneration governance?

Xing Fang and Yiyao Sun

Impact of subjective wellbeing on investment behavior

Wei Liu, Wenbo Li and Yu Chen

Intellectual property financing and enterprise growth

Chen He, Yinliang Zhang and Na Wang

Digital finance, social welfare investment, and urban–rural income inequality: Moderating role of regional economics and regional disparities

Yibo Liu and Caisheng Dong

Corporate ESG performance and competitive strategies from the perspective of financial markets: Strategic significance of firm size

Ze Sun, Cen Cai, Haoyu Tan, Heli Ji and Tian, Grace (Li)

Independent Decision-Making or Going with the Flow? D&O Insurance and Investment Herding Behavior

Chen He, Bo Peng, Yahao Dong, Yuhan Li and Bofu Deng

Supervisory board, internal control quality, and earnings management

Yong Zheng and Yue Han

Prediction of market value of firms with corporate sustainability performance data using machine learning models

Murat Doğan, Özlem Sayılır, Muhammed Aslam Chelery Komath and Emre Çimen

The impact of underwriter reputation on corporate financing costs under the bond registration system reform

Yunyun Wu, Haifeng An and Yanan Guo

Resilient leadership: Closing the internal pay gap

Penghua Qiao, Yidan Xiu, Anna Fung and Hung-Gay Fung

Asian geopolitical risks: A key driver behind WTI-Brent spread market volatility

Shaojiang Wu and Wei Han

Do the People's Bank of China's currency swaps cause moral hazard?

Lingxiao Tang, Kenan Li and Tao Xu

Labor market frictions for female workers and corporate innovation

Hyuksoon Lim

How green strategic alliances enhance green innovation: Mechanisms and evidence in China

Yuhan Wang, Jinxing Hao, Hui Guo, Maoyang Xian and Qiang Liao

The link between crowdfunding and sustainability: A literature review in the field of entrepreneurs and academic spinoffs

Giovanni Baldissarro, Elisa Farinelli, Gianpaolo Iazzolino, Riccardo Maiolini and Donato Morea

The role of sustainability and high-tech sector affiliation in shaping equity crowdfunding success: An AI perspective

Yassine Boutouar, Maurizio La Rocca, Tiziana La Rocca and Augusto D'Amico

The reform of property law and debt concentration choices

Minmin Tang, Xiaosha Dai, Jingjin Ju, Xiaofan Hu and Zihan Liu

Investigation into the effects of equity incentives for executives and R&D personnel on corporate financialization

Sichong Chen, Shan Liang, Meng Chen and Didi Zhang

Enhancing investment efficiency through improved information disclosure

Liang Pan and Yong Yang

How does the policy of additional deduction for research and development expenses affect credit risk pricing capability in enterprises?

Tao Jiang and Jiabiao Fan

Intelligent manufacturing level and corporate investment efficiency

Ying Liu and Lei Zheng

Household asset structure, pension security, and consumer spending

Xixi Guo, Kewen Luo and Jun Fang

Digital financial effect on risk-taking of small- and medium-sized commercial banks: Mediation through management costs

Ji Ge, Hairong Tang, Yuzhe Dong, Zongshang Yang and Chen Chen

Financial technology and regional carbon emission reduction: Mediating effect of green technology innovation

Yuan Jiang, Xiaomei Wang and Wenting Wang

Measuring firm-level supply chain risk using a generative large language model

Siyu Fan, Yifei Wu and Ruochen Yang

Disentangling geopolitical risks: A quantile approach to geopolitical risk indices’ impacts on stock markets

Cumali Marangoz, Bekir Gerekan, Erdal Yılmaz and Emre Bulut

Stock option compensation mitigates stock price crash risk due to managerial overconfidence: Evidence from Korea

Na-Youn Kim and Juhan Lee

Does the ESG disclosure quality affect financial performance: Empirical evidence from Chinese energy-listed companies

Meixia Wang, Li Liu and Tongxin Liang

Prediction of the implied volatility surface–An empirical analysis of the SSE 50ETF option based on CNNs

Hualu Shao, Baicheng Zhou and Shaoqing Gong

How do heterogeneous green financial policy tools affect pollution emission reduction of enterprises?

Shanshan Wang, Shugang Wang and Yiqian Cheng

Social security contributions, labor income share, and corporate innovation

Tongbin Li and Juan Gao

Education investment, social security, and household financial market participation

Yuan Zeng, Chunxiao Chen, Chun Wang and Jianke Zou

The role of associated risk in predicting financial distress: A case study of listed agricultural companies in China

Wanjuan Zhang and Jing Wang

Can bank digitization reduce corporate overinvestment?

Lina Shi, Shuxin Zhang and Yu Ji

The green premium in sustainable fintech: Cross-country evidence from crowdfunding

Xingyuan Yao

ESG business diversification and investment performance

Akifumi Isogai, Masatoshi Nozaki and Rei Yamamoto

Tax incentives and household consumption: Evidence from the personal income tax reform

Xinyu Zhan, Lanxin Liang and Mingzhe Yu

Exploring the landscape of green crowdfunding: Trends, themes, and insights from a bibliometric review

R. Carè, R. Fatima, M. Cerciello and S. Taddeo

Airline stock market reaction to CrowdStrike IT outage: An event study analysis

João Costa, Susana Cró, Nuno Moutinho and António Miguel Martins

Circuit courts and capital market transparency: Evidence from analysts’ earnings forecasts

Shen Tang, Chuan Qin and Feng Qi

The performance of active equity funds that incorporate venture capital

Nohl J. Schwandtner and David M. Smith