Finance Research Letters

2004 - 2026

Current editor(s): R. Gençay

From Elsevier
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Volume 110, issue C, 2026

Financial citizenship and capital market participation in Brazil: A macro-level regional analysis

Diogo dos Santos Damas, Gilson Brito Alves Lima and Ricardo Bordeaux Rego

Regime labels are not resolution-invariant: Evidence from the 2026 US–Iran escalation

Kai Zheng, Rand Low and Ruili Wang

The path of intelligent transformation for agricultural enterprises driven by climate risks

Yipin Zhang and Xu Pei

AI exposure and the bet-trade wedge

Hyoung-Goo Kang, Junhwi Kim and Doojin Ryu

Sustainability profiles, capital structure, and the role of sustainable debt instruments

Julia Meyer and Beat Affolter

Nighttime economy, venture capital, and firm growth

Yi Sun, Zhiqin Xing, Yan Guo, Hui Sun and Yongchun Xu

Real effective exchange rate volatility series for West African Monetary Zone

Rotimi Ayoade Ogunjumo, Stephen Adesina Ibitowa and Ademola Andrew Onabote

Intangible liabilities and trade credit: Evidence from 10-K disclosures

Mostafa Monzur Hasan and Hyun Joong Im

Minimum wage standards, enterprise labor costs, and the employment creation effect

Xiao Zhou, Zhifeng Shen and Jitian Wang

Conditional anchoring effect of government intervention in the stock market

Yang Zhao, Zheng Chang, Xueqiang He and Wensheng Dai

Can educational investment enhance regional financial stability?

Yi Liu and Xin Jin

Option implied asymmetric correlation risk and stock returns

Xiaowei Li, Jian Chen and Yangshu Liu

When war moves oil: Energy dependence and global equity responses to the 2026 Iran conflict

Tomasz Kaczmarek, Ender Demir, Wael Rouatbi and Adam Zaremba

Foreign revenue diversification and corporate capital costs: the moderating role of foreign exchange risk hedging

Shanshan Lan, Yang Liu, Xiaoying Su and Yuxin Ling

Abnormal fund holding count and stock returns

Qi Gao, Shen Lin and Xiong Xiong

Green credit availability and strategic green innovation investment in high-carbon firms

Dan Xu, Xiaoyan Liu and Changbin Cui

Corporate financial asset allocation and the decision to acquire control of overseas subsidiaries: A micro-level perspective from a risk hedging viewpoint

Di Wu and Na Li

Information Transparency, Supply Chain Finance Level, and Corporate Stock Price Crash Risk

Jing Hu and Zhijie Wang

Sustainable by design or by constraint? Portfolio convergence of SFDR Article 9 and Article 8 equity funds

Silvia Gordano, Aline Miazza and Vera Palea

Digital trade restrictions, economic freedom, and global value chain upgrading

Guo Liang, Saier Su, Yangmei Wang and Liya Xu

When Artificial Intelligence meets corporate finance in the USA

Maria Giaka, Stephane Goutte, Panayotis G. Michaelides and Dimitrios L. Stamos

Making institutions work: State capacity and innovation

Wenbin Wang and Weijun Yin

How do differences in green financial standards drive green credit expansion? A cross-country comparative analysis

Dijia Yuan and Huairuo Yin

No-arbitrage bounds in decentralized perpetual markets

Erce Erez and Mikhail Smirnov

Autopilot alpha: Anomalies move, mutual funds follow

Arturo Rodriguez and Roberto Stein

Does going green impact firms’ asymmetric cost behavior?

Bing Zhou, Yue Sun, Feng Zhan and Xin Chang

From facilities to balance sheets: Environmental reputational risk and financial leverage

Trung K. Do and Henry Hongren Huang

Physics-informed singular-value learning for cross-covariances forecasting in financial markets

Efstratios Manolakis, Christian Bongiorno and Rosario N. Mantegna

From paddy to governance: Top managers' rice culture and corporate decentralization

Yunling Song, Zhaoxue Li, Jialing Bai and Xiaobei Huang

An empirical analysis of the application of artificial intelligence technology and its impact on corporate financial security

Fanghong Liu, Dan Yuan and Jiangang Wang

Digital narrative inflation and corporate innovation: Evidence from large language model semantic scoring

Dengjia Li, Shuya Lou and Dong Wang

Foundation models do not beat simple volatility benchmarks: Evidence from 5000 Chinese stocks

Yilin Zhong, Yuqi Fu and Sixuan Zhu

Impact of human–AI collaboration on corporate green innovation bubbles

Caiyun Liu and Tianyang Wu

GAN and DML for causal inference: Does FinTech innovation reduce bank liquidity risk?

Kaiwei Jia, Jingyan Sun and Bohua Li

Does bank fintech development increase labor income share? Evidence from Chinese enterprises

Le Wang, Shiguang Peng and Yingmei Tang

Carbon border shocks and the limits of aggregate ESG scores: Evidence from the EU CBAM

Tao Huang, Zhixin Liu and Chenyue Zhou

Patent infringement litigation, financial misallocation, and the sustainable development of listed firms

RuiQi Yang and JunJie Cai

Does a regional rule-of-law environment promote in-company common prosperity among listed firms? The function of credit availability

Li Li and Lili Xiao

The fintech multiplier: turning government attention into agricultural economic resilience in China

Qi Lu, Jun Wen, Tianqi Zhu and Jinhua Cao

Rural financial development and land transfer rate

Peirong Wu and Yang Zhou

Is there still room for greenwashing under codification? Environmental responsibility evasion and market valuation

Kaixiang Zhu, Zhenghong Liu, Zigong Li and Qianyu Zhu

Currency volatility, energy prices, fiscal stance, and economic growth in Asia

Olatunji A. Shobande

How household education spending alleviates relative poverty: Mediation, moderation, and heterogeneous effects in China

Ying Sun, Yingqi Zhao and Ying Zhang

Population aging and firm entry: County-level evidence from China

Guang-Zhao Yang, Guangjie Ning and Meng Wang

Borrowing more, burdening less: Evidence from relative income dynamics

Agnieszka Wałęga, Grzegorz Wałęga and Aneta Maria Kłopocka

Financial market integration, trade costs, and cross-border commodity flows: An empirical analysis based on economic data from China and Russia

Yuhan Mei, Liang Zhao, Qianzi He and Feiran He

Stablecoin typologies beyond fiat denomination: Evidence from deep temporal clustering

Minchae Song

ESG and financial distress: The role of disclosure quality in predictive accuracy

I. Voicila Voicila and E. Urquía Grande

Substance over symbolism: ESG disclosure, pricing efficiency, and firm market power

Huijuan Sun, Ziming Wang and Fengyuan Xi

Market learning from sequential geopolitical escalations: Evidence from airline stocks

Guy Kaplanski

How high-risk transmission links compress the regulatory intervention window for systemic financial risk

Xiaogang Liu, Jinmian Han, Dongqi Yue and Huaigu Tian

Antitrust enforcement, economic resilience, and industrial chain collaborative innovation

Yue Huang and Zhongfu Ren

Digital financial literacy and financial vulnerability of relatively poor households

Yahong Li, Yuanlong Pang, Le Sun and Wei Zhao

ESG greenwashing, analyst attention, and firm value

Chen Qian, Fan Anqi and Xie Guanxia

Digital trade rule embedding and inclusive finance synergy: Evidence from belt and road countries

Xinwei Wu and Jia He

Media tone and capital market information distortion: Evidence from corporate AI washing

Ying Liu, Menghao Zhang and Fang Yuan

High-speed rail opening, financial facilitation, and the spatial spillover effects of cultural–tourism integration: An empirical test based on a "Quasi-Natural Experiment"

Zhenfeng Deng

Are day-of-the-week effects in cryptocurrencies real? Intraday evidence from active and less active cryptocurrencies

Nafise Aalipour, Seyed Mehdian and Rasoul Rezvanian

Stuck on the road: Traffic congestion and stock returns

Serkan Imisiker, Bedri Kamil Onur Tas and Muhammed A. Yildirim

How does industrial robot adoption affect the green finance of emerging economies? Integrating the shock of geopolitical risks

Yanchao Feng, Yitong Yan, Songsai Wu and Shilei Hu

Structural pricing models for corporate bond index credit spreads: Senior vs subordinated

Gil Krysa and Alon Raviv

On Bitcoin cycles

A. Blanc Blocquel and R. Oviedo

Generative AI adoption and information acquisition in capital markets: Evidence from a quasi-natural experiment in China

Cheng Xiang, Yuhang Qiu and Zhuolei Li

Option-implied Hurst exponent for FX timing

Sebastian Petric and Wolfgang Schadner

City-level e-CNY pilot exposure and corporate green innovation: evidence from China

Shuo Wang and Huaxia Shen

Tech-oriented management, excessive technology investment, and bankruptcy risk

Xia Wei, Zhiyu Xia, Wen Lee and Hanze Liu

Patient capital and managerial myopia

Qinyang Li, Haoyu Chen, Yiming Jia and Shiyang Hu

The option-implied duration of the US–Iran conflict

Tommaso Bonafini and Alex Weissensteiner

Impact of bank–firm relationships on corporate AI innovation

Wen Zhu and Lin Zhang

Geopolitical risk, financial frictions and bank capital flows

Qi Wang, Wen Xu and Quan Sun

The real conforming loan limit: Local house price divergence and conforming–jumbo sorting

Tong-yob Nam

Intraday tail risk dynamics under high-frequency trading regulatory rules: Evidence from tick-by-tick data

Lei Wang, Shuran Zhao and Chenggang Duan

Bridging the green gap: Climate finance pilots and new energy innovation

Yuchen Lu, Shixian Ling, Liu, Zhangxin (Frank) and Yujun Lu

Climate policy uncertainty and corporate cash holdings: The moderating role of corporate governance in China

Xinyue Xue, Jianli Wang, Bolin Jiang and Hongxia Wang

Does asset tangibility mitigate ESG uncertainty? Evidence from corporate financial policy

Umar Farooq, Jun Wen, Abdulrahman Alomair and Abdullah A. Aljughaiman

Network topology and conditional spillover outcomes: Evidence from Chinese energy firms

Jiacheng He and Yiran Zhao

Does debt renegotiation reset credit access? Evidence from Chile’s 2023 insolvency reform

Julio Riutort and Benjamín Vallejos

Spillover effects of climate physical risks on macro-financial risks through trade networks

Miao Chen, Shouwei Li and Qincun Xu

Geopolitical risk and bank funding in an emerging market

Trung Tien Le and Hung Manh Pham

Tourism prosperity and regional economic resilience: the role of technological innovation

Xigang Meng

The capital paradox of artificial intelligence: The perspective of patient capital

Yifan Zhu, Zhaoyu Liang and Yining Chen

Institutional adaptation and investment mode choice: Regional efficiency differentiation in China's outward FDI

Chuanrong Wu and Zuojun Fan

The role of fan stratification and sustainable product consumption willingness in livestreaming sales conversion revenues

Yujing Si, Wei Cao and Yi Yang

The invisible stabilizer in networks: Director interlocks and corporate supply chain risk perceptiond

Wen Jiang and Ruige Zhang

What deflates green innovation bubbles? Evidence from intellectual property protection

Qifeng Han and Hongchang Que

Challenges in low- and middle-income countries: From climate change to geopolitics

Tony Klein