Finance Research Letters

2004 - 2025

Current editor(s): R. Gençay

From Elsevier
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Volume 54, issue C, 2023

Investors’ online searching and green knowledge dissemination

Bohui Wen, Yulin Yan, Jing Hao and Feng He

Geopolitical risk and stock liquidity

Paolo Fiorillo, Antonio Meles, Luigi Raffaele Pellegrino and Vincenzo Verdoliva

Stock price crash risk and leverage dynamics: Evidence from the GCC countries

Ramzi Benkraiem, Hamdi Ben-Nasr, Salem Nechi and Hatem Rjiba

Robust leverage choice of hedge funds with rare disasters

Jingzhou Yan, Congming Mu, Qianhui Yan and Deqing Luo

Time-frequency correlations and extreme spillover effects between carbon markets and NFTs: The roles of EPU and COVID-19

Jiatong Liu

Global economic policy uncertainty and oil futures volatility prediction

Ling Zhao

Words and numbers: A disagreement story from post-earnings announcement return and volume patterns

D’Augusta, Carlo, Antonio De Vito and Francesco Grossetti

Carbon emission trading policy and firm's environmental investment

Shengyi Yang

“Double reduction” policy in education industry and firm values: Evidence from China

Kun Dai

The efficiency of government finanical expenditures before and during the COVID-19 pandemic: A cross-country investigation

Huong Vu Van, Le Van Dao, Lich Khac Hoang and Ngo Van Hien

Tracking customer risk aversion

Hyeongwoo Kong, Wonje Yun and Woo Chang Kim

The valuation impact of gender quotas in the boardroom: Evidence from the European markets

Carlos Fernández-Méndez and Shams Pathan

Effect of managerial ability toward corporate social responsibility on enterprise default risk

Huihui Chen, Kung-Cheng Ho, Ming Zhang and Qidi Zhang

The spillover effect of penalty against peer firm leaders——Evidence from earnings management

Wenjing Cai, Xinni Cai, Zehao Wang and Ge Yang

How does mandatory environmental regulation affect corporate environmental information disclosure quality

Guangqiang Liu and Liangju Guo

Rating changes revisited: New evidence on short-term ESG momentum

Thomas Cauthorn, Maurice Dumrose, Julia Eckert, Christian Klein and Bernhard Zwergel

Reputational contagion and the fall of FTX: Examining the response of tokens to the delegitimization of FTT

Imran Yousaf and John W. Goodell

Cyber attacks, discretionary loan loss provisions, and banks’ earnings management

Justin Jin, Na Li, Suyi Liu and S.M. Khalid Nainar

Can art hedge against economic policy uncertainty?: New insights through the NARDL model

Qinglin Sun and Zhiyuan Zhang

Does inclusion of GARCH variance in deep learning models improve financial contagion prediction?

Vikram Chandramouli Rayadurgam and Jayasree Mangalagiri

Faith-based credit unions and credit risk

Anna-Leigh Stone

Financial market sentiment and stock return during the COVID-19 pandemic

Chenjiang Bai, Yuejiao Duan, Xiaoyun Fan and Shuai Tang

Rethinking greenium: A quadratic function of yield spread

Chih-Yueh Huang, David Dekker and Dimitrios Christopoulos

COVID-19 vaccination and household savings: An economic recovery channel

He Ren and Yi Zheng

Introducing the Cryptocurrency VIX: CVIX✰

Yosef Bonaparte

Bank concentration, urban development and firm access to credit in Latin America

Mahsa Memarian, Sara Benetti, Alberto Trejos and Sofía Rodríguez-Chaves

Fiscal decentralization and shadow banking activities of non-financial enterprises

Xun Han, Abuduwali Aibai and Xinyan Xie

Outside of a sole globally risk averse agent, all other agents in markets are risk seeking agents

Oghenovo A. Obrimah

Bond liquidity, debt maturity and bond risk premium

Yimin Zhou and Xu Wei

Forced conversion to Chapter 7 bankruptcy and optimal financial decisions

Hwa-Sung Kim

The impact of intellectual property protection on business performance of high-tech enterprises: The mediating effect of political-business relations

Kun Lin

Research on the impact of population aging and endowment insurance on household financial asset allocation- Evidence on CFPS data

Sujiao Liu, Mengcheng Zhu and Wenhao Ling

EU Climate Change News Index: Forecasting EU ETS prices with online news

Áron Dénes Hartvig, Áron Pap and Péter Pálos

Design of a self-adaptive model for leverage

Maxime Segal and Sverrir Ólafsson

Does product market competition affect the adoption of FinTech by non-financial firms?

Liu Hong, Ehsan Nikbakht and Tianpeng Zhou

Central bank digital currency competition and the impossible trinity

Sören Karau

Curse or blessing: National industrial investment fund and corporate R&D in China

Chuanlin Shao, Yunqing Tao, Dong Chen and Yongwei Ye

Aggregate insider trading in the S&P 500 and the predictability of international equity premia

Andre Guettler, Patrick Hable, Patrick Launhardt and Felix Miebs

Fresh evidence on the oil-stock interactions under heterogeneous market conditions

Kushal Banik Chowdhury and Bhavesh Garg

Complete subset averaging methods in corporate bond return prediction

Tingting Cheng, Shan Jiang, Albert Bo Zhao and Zhimin Jia

Asymmetric relationship between climate policy uncertainty and energy metals: Evidence from cross-quantilogram

Sitara Karim, Muhammad Abubakr Naeem, Muhammad Shafiullah, Brian Lucey and Sania Ashraf

When do they trade? Heterogeneous investors in China

Jiayan Qiu, Wei Huang and Ying Jiang

Strategic deviation and idiosyncratic return volatility

Mostafa Monzur Hasan and Xiaomeng Charlene Chen

Unconventional, conventional monetary policies, and optimal energy supply structure in China

Yi Jin, Shuo Wang, Lin Bu and Pengxiang Zhai

Profitable timing of the stock market with the senior loan officer survey

Linus Wilson

How does digital finance affect consumer online shopping: A comprehensive analysis based on econometric model

Mingxun Zhu, Yanping Wang, Min Wei and Zhen Cai

Portfolio optimization using robust mean absolute deviation model: Wasserstein metric approach

Zohreh Hosseini-Nodeh, Rashed Khanjani-Shiraz and Panos M. Pardalos

Spillover connectedness between oil and China's industry stock markets: A perspective of carbon emissions

Yingying Zhang and Shaojun Xu

Individual investors’ dividend tax reform and stock price crash risk

Xinyao Yang, Zhaoyi Liu and Tao Li

Strong financial regulation and corporate risk-taking: Evidence from a natural experiment in China

Qi Liu and Jiejie Wu

Dynamical linkages between the Brent oil price and stock markets in BRICS using quantile connectedness approach

Hao-Wen Chang, Tsangyao Chang, Yuan Hung Ling and Yung-Lieh Yang

CEO overconfidence, lottery preference and the cross-section of stock returns

Jing Lu, Keng-Yu Ho, Po-Hsin Ho and Kuan-Cheng Ko

ESG controversies and investor trading behavior in the Korean market

Jeongseok Bang, Doojin Ryu and Jinyoung Yu

Religion groups and portfolio choice decisions: Evidence from UK households

Nicholas Apergis

Market participants or the random walk – who forecasts better? Evidence from micro-level survey data

Tamas Kiss, Kamil Kladívko, Oliwer Silfverberg and Pär Österholm

Measuring systemic risk with high-frequency data: A realized GARCH approach

Qihao Chen, Zhuo Huang and Fang Liang

New infrastructure, optimization of resource allocation and upgrading of industrial structure

Min Gong, Yidi Zeng and Fan Zhang

Does minority shareholder activism enhance corporate innovation? Evidence from China

Zhibin Wang and Zelei Li

The driving factors of China's carbon prices: Evidence from using ICEEMDAN-HC method and quantile regression

Ying Lin Liu, Jing Jie Zhang and Yan Fang

Explainable artificial intelligence and economic panel data: A study on volatility spillover along the supply chains

Theo Berger

Fiscal decentralization, local government debt, and corporate innovation

Sen Li and Tiancheng Qi

Linkages between CBDC and cryptocurrency uncertainties, and digital payment stocks

Imran Yousaf and John W. Goodell

The Communist Party of China embedded in corporate governance and enterprise value: Evidence from state-owned enterprises

Shengbin Wang, Jiafeng Zheng and Yongqian Tu

Targeted poverty alleviation disclosure and analyst forecast accuracy: Evidence from a quasi-natural experiment

Wenxin Wu, Minya Xu and Zixun Zhou

The impact of expected and unexpected events on Bitcoin price development: Introduction of futures market and COVID-19

Emrah Çevik, Samet Gunay, Sel Dibooglu and Durmuş Çağrı Yıldırım

Central bank asset purchase programs in emerging market economies

John Beirne and Eric Sugandi

Financial market opening and corporate tax avoidance: Evidence from staggered quasi-natural experiments

Yunsen Chen, Jianqiao Huang, Xiao Li and Xiaoran Ni

Time-varying characteristics of information flow networks in the Chinese market: An analysis based on sector indices

Chun-Xiao Nie

Pricing multi-step double barrier options by the efficient non-crossing probability

Hangsuck Lee, Hongjun Ha, Byungdoo Kong and Minha Lee

From “Super App” to “Super VC”: The value-added effect of China's digital platforms

Jiancheng Wang and Xiaoye Li

Does wedge size matter? Financial reporting quality and effective regulation of dual-class firms

Rimona Palas, Dov Solomon, Dalit Gafni and Ido Baum

Fintech market efficiency: A multifractal detrended fluctuation analysis

Keshab Shrestha, Babak Naysary and Sheena Sara Suresh Philip

Disclosure characteristics of annual reports and information asymmetry: Evidence from foreign firms listed on the US stock exchange

Phuong Thi Thuy Nguyen and Akihisa Kimura

Timing is key: When does the market react to unionization efforts?

Bastian Hofmann and Eline Schoonjans

Impact of earnings management on working capital management efficiency

Kumar Sanjay Sawarni, Sivasankaran Narayanasamy and Purna Chandra Padhan

How do investors react to overnight returns? Evidence from Korea

Hyuna Ham, Doojin Ryu, Robert I. Webb and Jinyoung Yu

Government as major customer: The effects of government procurement on corporate environmental, social, and governance performance

Jun Huang, Feifei Han and Yun Li

Should you listen to crypto YouTubers?

Stefanie Moser and Alexander Brauneis

Consumer finance and consumption upgrading: An empirical study of CHFS

Zixi Wu and Yiqin Wang

Banking market structure and industrial structure: A transnational empirical study

Lan Jiang and Tong Wu

The effect of the promotion of private education on the firms’ values in education industry: Evidence from China

Yuning Ren and Xiangru Ren

The effect of China's low carbon city pilot policy on corporate financialization

Xiangsheng Liu and Lingli Lv

Forecasting and backtesting systemic risk in the cryptocurrency market

Sheng Fang, Cao Guangxi and Paul Egan

The response of money market funds to the COVID-19 pandemic

Kyle D. Allen, Ahmed Baig and Drew B. Winters

Global supply chain pressure and commodity markets: Evidence from multiple wavelet and quantile connectedness analyses

Giray Gözgör, Rabeh Khalfaoui and Larisa Yarovaya

The asymmetric response of dividends to earnings news

Jin Seo Cho, Matthew Greenwood-Nimmo and Yongcheol Shin

Safe haven for crude oil: Gold or currencies?

Lei Ming, Ping Yang, Xinyi Tian, Shenggang Yang and Minyi Dong

A Privacy-preserving mean–variance optimal portfolio

Junyoung Byun, Hyungjin Ko and Jaewook Lee

Predictability of economic slowdowns in advanced countries over eight centuries: The role of climate risks

Rangan Gupta, Jacobus Nel, Afees Salisu and Qiang Ji

Geopolitical risk of oil export and import countries and oil futures volatility: Evidence from dynamic model average methods

Zhichao Liu, Xiulian Xu, Ya Cheng and Xuan Xie

Kurtosis-based vs volatility-based asset allocation strategies: Do they share the same properties? A first empirical investigation

Maria Debora Braga, Consuelo Rubina Nava and Maria Zoia

The impact of regulation on retail payments security: Evidence from Italian supervisory data

Massimiliano Cologgi

A new look on the probability of retail investor margin use and margin call

William R. Pratt, Syed Kamal and Aixin Ma

The power of belief: Religious traditions and rent-seeking of polluting enterprises in China

Weijian Du, Yuhuan Fan, Sunfan Liang and Mengjie Li

Understanding the price reaction to large dividend increases

Ebenezer Asem

Macroeconomic downside risk and the effect of monetary policy

Chuang Deng and Jian Wu

Model-free connectedness measures

David Gabauer, Ioannis Chatziantoniou and Alexis Stenfors

Which factors explain African stock returns?

Mohamed Lamine Mbengue, Bara Ndiaye and Oumar Sy

Strategic deviation and corporate green innovation

Wen Wen, Fei Qiao and Ying He

Is the empirical out-of-sample variance an informative risk measure for the high-dimensional portfolios?

Taras Bodnar, Nestor Parolya and Erik Thorsén

Nowhere else to go: Determinants of bank–firm relationship discontinuations after bank mergers

Santiago Carbo-Valverde and Oliver Rehbein

Deep learning and technical analysis in cryptocurrency market

Stéphane Goutte, Hoang-Viet Le, Fei Liu and Hans-Jörg von Mettenheim

Economic policy uncertainty and corporate investment: An empirical comparison of Korean chaebol and non-chaebol firms

Hong Vo, Tien Nguyen and Hang Truong

ESG performance and banks’ funding costs

Alin Marius Andrieș and Nicu Sprincean

Geopolitical risk and the cost of bank loans

Thanh Cong Nguyen and Tien Ho Thuy

Creditor-controlled insolvency and firm financing– Evidence from India

Shivangi Agarwal and Bhavya Singhvi

Product recall and CEO compensation: Evidence from the automobile industry

Mahfuja Malik and Fatima Jebari

Low-carbon transformation and corporate cash holdings

Yihong Gao and Jiayan Gao