Finance Research Letters

2004 - 2025

Current editor(s): R. Gençay

From Elsevier
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Volume 73, issue C, 2025

Digital economy and entrusted loans: Evidence from shadow banking

Wei Huang, Fan Yang and Yixin Zhu

Digital economy, dynamic capabilities, and corporate green development

Xiaohan Li, Jialu You and Ye Qing

Organizational form and liquidity management: Evidence from open- vs. closed-end municipal bond funds

John Chalmers, Z. Jay Wang and Jingyun Yang

Wish or reality? On the exploitability of triangular arbitrage in cryptocurrency markets

Matthias Muck, Thomas Schmidl and Julian Wolf

Digital transformation, board structure, and organizational innovation capacity

Li-na Ma and Jing-jing Zhang

Do risk preferences drive momentum in cryptocurrencies?

Juliane Proelss, Denis Schweizer and Bastien Buchwalter

Does ESG enhance asset quality and funding cost management in banking diversification?

Seungho Baek and Moonsoo Kang

Nonbank financial institutions and financial stability: Time series analysis

Licheng Zheng, Xiaoqing Huang and Xiaoyong Lu

Collaborative equity networks in the supply chain and peer effects on corporate green transition

Quan Yuan, Ting Peng and Jing Liang

Impact of corporate governance level on enterprise total factor productivity from the perspective of supply chain digitization

Hongfeng Zhu and Yingna Chao

How does executives' overseas experience affect corporate resource allocation efficiency?

Shuai Huang, Lianjie Zhou and Mengwei He

Intergenerational Succession in Family Businesses and the Risk of Corporate Default

JiaYing Deng and Qin Ren

Trade sanctions and supplier stock collapse

Yiwei Zheng and Yu Deng

Modelling jumps with CARMA(p,q)-Hawkes: An application to corporate bond markets

Lorenzo Mercuri, Andrea Perchiazzo and Edit Rroji

Can capital structure mismatch influence corporate risk-taking? From the prospective of earning management

Wen Li and Qibo Zhou

Can digital transformation promote high-technology firms’ trans-regional investment?

Hongrui Yang and Yuan Zhang

How does local government debt governance affect corporate credit mismatches? Evidence from implementing the New Budget Law

Jie Luo and Jie Li

Does managerial short-termism affect corporate social responsibility?

Cong Zhang, Wei Teng and Zhaoqian Liu

Is the difference between deep hedging and delta hedging a statistical arbitrage?

Pascal François, Geneviève Gauthier, Frédéric Godin and Carlos Octavio Pérez Mendoza

Research on the dual driving effects of intellectual property protection and government subsidies on total factor productivity growth

Ruiqi Yang and Junjie Cai

How can rural industrial revitalization and rural education level reduce the urban–rural income gap?

Xiao Chen and Rui Wu

Effects of information and technology application in audits and digital economy on enterprise risk management level

Yan Peng and Hao Jin

Enhancing innovation capabilities, digital management, and corporate competitiveness

Yuan Zhang and Ying Li

Can the development of digital finance and information transparency improve enterprise investment efficiency?

Yu Ren, Xiongfei Liu and Yi Zhu

Can corporate social responsibility and corporate governance structure reduce corporate legal risk?

Haibin Wang, Lu Wang and Deming Huang

How rookie CEOs influence earnings management in enterprises: An analysis based on the perspective of corporate governance

Yuanqiong He and Linfei Zhong

The impact of digital government services on manufacturing productivity: China's pilot city insights

Cheng Yu, Dengyun Gao and Haixia Sun

Trade policy uncertainty, shipping risk, and commodity markets

Mengya Shang, Lin Zhang, Hongcheng Duan, Lizhi Wang and Nanyun Xiao

Agricultural production trusteeship and grain total factor productivity growth: The moderating role of financial credit

Lijuan Zhao, Xiaohong Kang, Junhong Shi and Tianqi Zhu

Firms’ climate risks and bank lending: Evidence from the COVID-19 crisis

Masayo Shikimi

Community activism, Social ties and ESG campaign success

Akhil Raju and Vijaya B. Marisetty

A comparison of international mutual funds efficiency

Marta Vidal, Javier Vidal-García, Stelios Bekiros and Juan Evangelista Trinidad Segovia

Sustainability labels matter

Christopher Kolling and Timo Busch

Top management team heterogeneity and corporate ESG performance

Haiyan Dong, Cong Zhang and Wei Teng

Are employee decisions informative in the stock market? Evidence from employee downsizing in Japan

Keishi Fujiyama, Yusuke Fukaya, Philip Keejae Hong and Toshio Moriwaki

Capital structure adjustment speed and legal environments: Evidence from SMEs

Xingyu Su and Yange Zheng

Eco-innovation under pressure: How biodiversity risks shape corporate sustainability strategies

Ye Tian and Heng Chen

Does CEO duality moderate environmental, social, and governance performance-earnings management relationship? Evidence from emerging markets

Swati Mohapatra, Ashish Kumar, Malaya Ranjan Mohapatra and Vikas Srivastava

ESG complementarity in emerging market: Evidence from China

Seong K. Byun, Sulei Han, Jong-Min Oh and Jing Xu

Does digital transformation improve the cost efficiency of commercial banks? Evidence from China

Chuang Shen, Junyi Wu, Ying Li and Qian Chen

US economic policy uncertainty and China’s outward investment diversification

Hee-Eun Kim, Wonkyung Lee and Jiyong Moon

The impact of monetary policy instrument innovation on commercial banks' liquidity creation

Xuedong Zhang and Jinwei Li

Digital economy, environmental expenditure, and green total factor productivity

Xiao Cui and Pingrui Li

Can patent pledges affect corporate financialization?

Xiaowei Du and Weiqiao Yang

The power of cultural governance: The red prescription for corporate excess leverage

Mingrui Zhang and Danni Zheng

Spillover among biodiversity attention, climate policy uncertainty and global stock markets

Dandan Ma, Qiang Ji, Dayong Zhang and Wanli Zhao

ETFs, financing constraints and corporate investment efficiency: An analysis of the regulatory effect based on equity incentive policies

Qi Liu

The impact of digital finance on export competitiveness: Evidence from Chinese manufacturing enterprises

Xu Tao and Wanlin Cai

ESG performance and green total factor productivity

Xiaoyan Ma, Aimin Zhou and Chuenyu Chi

Within-regime volatility dynamics for observable- and Markov-switching score-driven models

Szabolcs Blazsek, Dejun Kong and Samantha R. Shadoff

Urbanization and tourism economic development

Yanan Tan, Guoliang Jiang, Shaheem Sayed Merajuddin and Fang Zhao

Energy transition policy and green innovation quality

Ying Wang, Weixiao Liao, Xing Zhao and Peng Lian

The impact of family background on female labor force participation

Li Huang and Ying Li

Basic public service equalization and household risk investment behavior

Chang Zhang, Bo Yao and Chenjing Zhang

Digital development and China–BRICS trade: Role of institutional distance

Shuang Qin, Hongbing Deng and Shengmei Hu

Do compensation committees do what they say they do? Evidence from narrative disclosure in proxy statements

Natalie Kyung Won Kim, Sewon Kwon and Jae Yong Shin

Corporate site visits and the speed of leverage adjustment

Zhiling Cao, Meng Chen, Lili Zhao and Guozheng Yang

Does environmental, social, and governance performance elevate firm value? International evidence

Adrian Gawęda

Climate risk and regional financial stability: Evidence from China

Liqin Hu, Xinyu Long, Bin Li and Qiuyan Zheng

Crowdfunding platforms and financial inclusion: Fulfilled promise or disillusion?

Fozan Fareed and Jordana Viotto

Introducing foreign credit rating agency in China: Enhancing reputation or aggravating conflicts of interests?

Mingming Li, Huaichang Yang and Haiming Liu

How fake news effects spread in an oligopolistic market — Evidence from the insulin market

Aniss Louchez

From frenzy to flip: Unpacking foreign investor behavior in the wake of regulatory change

M A Aneesha and P J Jijo Lukose

Corporate digitalization and innovation: The role of female executives

Tingfang Zhou and Jie Zhao

Media attention, internal control quality, and legal litigation

Weiran Tang and Maolin Tang

Impact of climate risk on airline stock price volatility

Zhendong Jin and Angxiu Cairang

Exploring the mechanisms and regional variations in how digital financial inclusion drives high-quality real economic development across China

Jiwen Gao, Hao Li and Didi Zhang

The digital economy and the resilience of enterprise exports: Supply chain stability as a mediator

Kai Cui and Wen Yang

Corporate carbon emissions disclosure and stock price informativeness

Shuo Dai and Yonghe Sun

Aging of population, digital financial inclusion, and public education expenditure

Huilin Wang and Jiliang Liu

How supplier concentration influences labor income share: Evidence from China

Tao Liu, Xintian Zhuang and Mingcao Li

Impacts of Digital Inclusive Finance, Human Capital and Digital Economy on Rural Development in Developing Countries

Han Lin and Pin Peng

Railway express and regional economic disparities

Qi Yang

Modeling gasoline price volatility

László Kamocsai and Mihály Ormos

Political stability as a risk factor in global markets

Noel Pavel Jeutang, Kwabena Kesse and Brian C. Payne

Impact of non-state-owned shareholders’ governance on the earnings quality of state-owned enterprises

Rui Ying, Ying Shu, Xiuli Wang and Qiong Wu

Wall Street sneezes and global finance catches a cold: How does geopolitical risk contribute? A tale of tail

David Neto

Deep learning solution to mean field game of optimal liquidation

Shuhua Zhang, Shenghua Qian, Xinyu Wang and Yilin Cheng

Legal background of corporate management and corporate audit quality

Yanyan Liang and Shuo Zhang

Unraveling the external financing environment-enterprise innovation nexus: A firm-level empirical analysis in China

Decheng Ji, Feifei Song and Rongxue Jin

Does tax policy affect corporate environmental investment?

Jingrong Li and Ping Liu

Impact of geopolitical risk on corporate insurance investment

Qiao Zhou, Lin Zhang and Hui Huang

Cryptocurrency exposure and the cost of debt

Li Gao, Yuan Shi and Yi Zheng

Participants’ preferences for settlement netting of derivatives contracts

Kazuhiro Takino

The impact of digital finance on insurance participation

Min Zhang, Zhuo Chen and Yunteng Chen

Financial technology, financing constraints, and future industrial development

Xiaojing Liu, Haiyan Tian, Ziwen Leng and Yue Ma

Credit card usage and its effects on financial literacy as a channel for entrepreneurship

Jun Luo and Jiang Zhu

Data-Driven sustainability: Examining the impact of data element utilization on corporate ESG performance

Yidan Zhao, Cong Zhang, Yiming Zhao and Lin Zhou

Impact of artificial intelligence on the labor income distribution: Labor substitution or production upgrading?

Changlin Wang and Du Jiao

Digital economy, dynamic capabilities, and corporate innovation boundary

Xiaohan Zhang, Xi Yang and Qiuyao Fu

Nonexecutive employee compensation and firm labor productivity

Minghui Zhao, Kwong Yee Fong, Wai Nga Leong, Qiu Li and Rujie Chen

Can joint modelling of external variables sampled at different frequencies enhance long-term Bitcoin volatility forecasts?

Serkan Aras, Mehmet Ozan Özdemir and Cihan Çılgın

Redefining market interdependencies: The ethereum merge's effect on 4IR assets, renewable energy, and tokens

Nader Naifar

Unlocking credit access: Using non-CDR mobile data to enhance credit scoring for financial inclusion

Rouzbeh Razavi and Nasr G. Elbahnasawy

Market competition and digital transformation in firms

Thithuha Nguyen, Ge Song, Shengkun Zhao and Congjiang Zuo

No shortfall of ES estimators: Insights from cryptocurrency portfolios

Matúš Horváth and Tomáš Výrost

Trustworthiness of firm valuations: Bias and market perception in compliance with capital market regulations

Eli El-Al, Koresh Galil and Ilanit Gavious

Cautious or calculated? State-level policy uncertainty and corporate cash holdings

Ahmed W. Alam, Ashupta Farjana, Reza Houston and Benito Sanchez

US sectors and geopolitical risk: The investor's perspective

Tonmoy Choudhury

Identification and pricing of labelled green bonds

Vikram Singh, Sonali Jain and Shveta Singh