Finance Research Letters

2004 - 2025

Current editor(s): R. Gençay

From Elsevier
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Volume 38, issue C, 2021

Decreasing investment-cash flow sensitivity: Further UK evidence

Michael Machokoto, Umair Tanveer, Shamaila Ishaq and Geofry Areneke

Is the cash flow sensitivity of cash asymmetric? African evidence

Michael Machokoto and Geofry Areneke

Profit formulation and equilibrium strategy of firms with cross-shareholding

Yuan Shi, Xinhua Wang and Hongwei Gao

From Shanghai to Sydney: Chinese stock market influences on Australia

Richard Burdekin and Ran Tao

Kimchi premium and speculative trading in bitcoin

Yunsung Eom

The effect of US macroeconomic news announcements on the Canadian stock market: Evidence using high-frequency data

Syed Mujahid Hussain and Walid Ben Omrane

Smoothed or not smoothed: The impact of the 2008 global financial crisis on dividend stability in the UK

Erhan Kilincarslan

Do large firms just talk corporate social responsibility? - The evidence from CSR report disclosure

Pi-Hui Ting

Habits, Wealth and Equity Risk Premium

Christos Giannikos and Georgios Koimisis

Financial contagion and the role of firm characteristics

Alper Kara, Yavuz Selim Hacihasanoglu and Deren Ünalmış

Does export intensity affect corporate leverage? Evidence from Portuguese SMEs

João Pinto and Cátia S. Silva

Does it payoff to be overconfident? Evidence from an emerging market – a quantile regression approach

Filip-Mihai Toma, Cosmin-Octavian Cepoi and Bogdan Negrea

Optimal risk taking under high-water mark contract with jump risk

Congming Mu, Jingzhou Yan and Zhian Liang

Domestic and cross-border effect of acquisition announcements: A short-term study for developed and emerging countries

Florian Otto, Joelson Oliveira Sampaio and Vinicius Augusto Brunassi Silva

Reliance on major customers and product market competition

Yelena Larkin

Quantifying the spillover effect in the cryptocurrency market

George Moratis

Liquidity commonality in extreme quantiles: Indian evidence

Abhinava Tripathi, Alok Dixit and Vipul,

Managerial compensation with hyperbolic discounting

Yingjie Niu, Linfeng He and Wei Wu

Co-opted Boards, Social Capital, and Risk-taking

Huilin Huang, Seung Hun Han and Kyumin Cho

Survival of reorganized firms in France

Rim Ayadi, Ilyes Abid and Khaled Guesmi

Is there a relationship between the time scaling property of asset returns and the outliers? Evidence from international financial markets

Mariano González-Sánchez

Predicting Bitcoin returns: Comparing the roles of newspaper- and internet search-based measures of uncertainty

Elie Bouri and Rangan Gupta

Tail-risk spillovers in cryptocurrency markets

Qiuhua Xu, Yixuan Zhang and Ziyang Zhang

Do business ties generate private information? Evidence from institutional trading around M&A announcements

David J. Pedersen

Time-varying price discovery in sovereign credit markets

Massimo Guidolin, Manuela Pedio and Alessandra Tosi

The impact of capital leverage on green firms’ investment: New evidence regarding the size and age effects of Chinese green industries

Kai Chang, Jiehuan Ding, Qichun Lou, Zesheng Li and Jiahui Yang

Firm-specific investor sentiment and stock price crash risk

Junhui Fu, Xiang Wu, Yufang Liu and Rongda Chen

How do banks finance R&D intensive firms? the role of patents in overcoming information asymmetry✰

Arvid O.I. Hoffmann and Stefanie Kleimeier

Do foreign peers bring green wind? Evidence from China

Jingyi Gao, Yue Jin and Fengchun Li

Commodity financialisation and price co-movement: Lessons from two centuries of evidence

Adam Zaremba, Zaghum Umar and Mateusz Mikutowski

Pricking asset market bubbles

Noemi Schmitt and Frank Westerhoff

A realized EGARCH-MIDAS model with higher moments

Xinyu Wu and Haibin Xie

Are investors fixated on credit ratings? Reinterpreting the municipal bond recalibration

Leo Tang and Pei Li

Gold, platinum and the predictability of bond risk premia

Elie Bouri, Riza Demirer, Rangan Gupta and Mark Wohar

Gilt auctions and secondary market dynamics

Lucas Fuhrer and Julia Giese

Predicting default of listed companies in mainland China via U-MIDAS Logit model with group lasso penalty

Cuixia Jiang, Wei Xiong, Qifa Xu and Yezheng Liu

Bitcoin volatility, stock market and investor sentiment. Are they connected?

M. Ángeles López-Cabarcos, Ada M. Pérez-Pico, Juan Piñeiro-Chousa and Aleksandar Šević

Unexpected loss, expected profit, and economic capital: A note on economic capital for credit risk incorporating interest income, expenses, losses, and ROE target

Martin Krebs and Peter Nippel

Price dynamics of individual stocks: Jumps and information

Yuewen Xiao and Jing Zhao

Can network structure predict cross-sectional stock returns? Evidence from co-attention networks in China

Xi Chen, Wuyue Shangguan, Yanchu Liu and Shichao Wang

From bottom ten to top ten: The role of cryptocurrencies in enhancing portfolio return of poorly performing stocks

Roman Matkovskyy, Akanksha Jalan, Michael Dowling and Taoufik Bouraoui

News sentiment and states of stock return volatility: Evidence from long memory and discrete choice models

Yanlin Shi and Kin-Yip Ho

A Bayesian Re-Interpretation of “significant” empirical financial research

Ralf Kellner and Daniel Rösch

Economic policy uncertainty and cryptocurrency volatility

Kuang-Chieh Yen and Hui-Pei Cheng

Read me if you can! An analysis of ICO white papers

Shadi Samieifar and Dirk G. Baur

How do European banks cope with macroprudential capital requirements

Sergio Mayordomo and Maria Rodriguez-Moreno

Dynamic correlations and spillover effects between CoCo bonds and other financial assets: Evidence from European banking

Fangfang Li and Ping Li

A tale of tails: New evidence on the growth-return nexus

Štefan Lyócsa, Tomáš Výrost and Tomáš Plíhal

Is China a source of financial contagion?

Md Akhtaruzzaman, Waleed Abdel-Qader, Helmi Hammami and Syed Shams

Pricing volatility-equity options under the modified constant elasticity of variance model

Xingchun Wang

What are you searching for? On the equivalence of proxies for online investor attention

Simon Behrendt and Philipp Prange

Information efficiency research of China's carbon markets

Jian Liu, Ting Jiang and Ze Ye

Overnight indexed swap-implied interest rate expectations

Simon Lloyd

Realised volatility connectedness among Bitcoin exchange markets

Qiang Ji, Elie Bouri, Ladislav Krištoufek and Brian Lucey

European banks straddling borders: Risky or rewarding?

Patty Duijm and Dirk Schoenmaker

Which local markets do banks desert first? evidence from poland

Krzysztof Jackowicz, Łukasz Kozłowski and Paweł Wnuczak

The role of investor attention in predicting stock prices: The long short-term memory networks perspective

Yongjie Zhang, Gang Chu and Dehua Shen

Financial Self-awareness: Who Knows What They Don’t Know?

William Bazley, Yosef Bonaparte and George M. Korniotis

Investor sentiment and the pre-FOMC announcement drift

Haifeng Guo, Chi-Hsiou D. Hung and Alexandros Kontonikas

Understanding Bitcoin liquidity

Stefan Scharnowski

Calendar effects in Bitcoin returns and volatility

Harald Kinateder and Vassilios Papavassiliou

The shrinking role of foreign operations at global financial institutions and its impact on efficiency

Michael S. Pagano

A note on the behavior of Chinese commodity markets

John Hua Fan and Neda Todorova

Portfolio value-at-risk with two-sided Weibull distribution: Evidence from cryptocurrency markets

Baykar Silahli, Kemal Dincer Dingec, Atilla Cifter and Nezir Aydin

Marketisation, information transparency and the cost of equity for family firms

Jiaqi Guo, Changhong Li, Wenting Jiao and Zhan Wang

Does a designed financial system impact polluting firms’ employment? Evidence of an experimental economic policy

Dongyang Zhang

Ambiguity on uncertainty and the equity premium

Xinfeng Ruan and Jin E. Zhang

Can small sample dataset be used for efficient internet loan credit risk assessment? Evidence from online peer to peer lending

Lean Yu and Xiaoming Zhang

Trade openness and economic growth quality of China: Empirical analysis using ARDL model

Qunxi Kong, Dan Peng, Yehui Ni, Xinyue Jiang and Ziqi Wang

A crypto safe haven against Bitcoin

Dirk G. Baur and Lai T. Hoang

Economic policy uncertainty and non-performing loans: The moderating role of bank concentration

Maria Karadima and Helen Louri

Does Chinese investor sentiment predict Asia-pacific stock markets? Evidence from a nonparametric causality-in-quantiles test

Xiao Li

Quantifying financial market dynamics: Scaling law in rank mobility of Chinese stock prices

Yongbin Shi, Miao Yu, Liujun Chen, Plamen Ch. Ivanov and Yougui Wang

Can a small fish become a big fish? Modeling leader-generating mergers in a Stackelberg market

Hong Qiu, Nan Zhu and Qiyuan Peng

An empirical evaluation of the influential nodes for stock market network: Chinese A-shares case

Chuangxia Huang, Shigang Wen, Mengge Li, Fenghua Wen and Xin Yang

Measuring Trump: The Volfefe Index and its impact on European financial markets

Jürgen Klaus and Christoph Koser

Dependency on FDI inflows and stock market linkages

Dinh-Tri Vo

Information disclosure and the default risk of online peer-to-peer lending platform

Qian Wang, Zhongnan Su and Xinyang Chen

Optimal risk asset allocation of a loss-averse bank with partial information under inflation risk

Jia Huang and Zheng Chen

Multiple shadow insurance activities and life insurance policyholder protection

Shi Chen, Wenyu Yao and Fu-Wei Huang

Does credit type matter for relationship lending? The special role of bank credit lines

Zhao, Yijia (Eddie)

Does investor sentiment on social media provide robust information for Bitcoin returns predictability?

Dominique Guégan and Thomas Renault

Information dissemination and price discovery

Haifa Amairi, Ahlem Zantour and Samir Saadi

Are Chinese crude oil futures good hedging tools?

Jie Li, Lixin Huang and Ping Li

Exploring evolution trends in cryptocurrency study: From underlying technology to economic applications

Shangrong Jiang, Xuerong Li and Shouyang Wang

Does direction of the transmission of bank risk matter? An application to the Chilean banking sector

Cinthya Silva and Gabriel Pino

Covid-19 and Optimal Portfolio Selection for Investment in Sustainable Development Goals

Naoyuki Yoshino, Farhad Taghizadeh-Hesary and Miyu Otsuka

Return equicorrelation in the cryptocurrency market: Analysis and determinants

Elie Bouri, Xuan Vinh Vo and Tareq Saeed

Tail dependence between gold and Islamic securities

Aktham Maghyereh and Hussein Abdoh

Analyzing the Nonlinear Pricing of Liquidity Risk according to the Market State

Helena Chuliá, Christoph Koser and Jorge Uribe

Measuring systemic risk via GAS models and extreme value theory: Revisiting the 2007 financial crisis

Pedro Gerhardt Gavronski and Flavio A. Ziegelmann

Nonlinear effect of subordinated debt changes on bank performance

Doojin Ryu and Jinyoung Yu

Multi-objective portfolio optimization under tempered stable Lévy distribution with Copula dependence

Xiao-Li Gong and Xiong Xiong

Investor sentiment and dollar-pound exchange rate returns: Evidence from over a century of data using a cross-quantilogram approach

Syed Jawad Hussain Shahzad, Clement Kyei, Rangan Gupta and Eric Olson

Leveraged buyouts and financial distress

Brian Ayash and Mahdi Rastad

Carbon and inflation

Ángel Pardo

Platform Characteristics and Online Peer-to-Peer Lending: Evidence from China

Qi Wang, Xiong Xiong and Zunxin Zheng

Beyond risk parity – A machine learning-based hierarchical risk parity approach on cryptocurrencies

Tobias Burggraf

Performance-sharing optimization by risk-constrained equity investors

Kris Boudt and Mulazim-Ali Khokhar

Stock Return Predictability: Evidence Across US Industries

Quynh Thi Thuy Pham

COVID-19 and the United States financial markets’ volatility

Claudiu Albulescu

How explosive are cryptocurrency prices?

Marc Gronwald

Aye Corona! The contagion effects of being named Corona during the COVID-19 pandemic

Shaen Corbet, Yang Hou, Yang Hu, Brian Lucey and Les Oxley

Stock markets and the COVID-19 fractal contagion effects

David Okorie and Boqiang Lin

Financial contagion during COVID–19 crisis

Md Akhtaruzzaman, Sabri Boubaker and Ahmet Sensoy

Deaths, panic, lockdowns and US equity markets: The case of COVID-19 pandemic

Ahmed S. Baig, Hassan Anjum Butt, Omair Haroon and Syed Aun R. Rizvi

COVID-19 and the march 2020 stock market crash. Evidence from S&P1500

Mieszko Mazur, Man Dang and Miguel Vega

Market reactions to the arrival and containment of COVID-19: An event study

Kim J. Heyden and Thomas Heyden

Co-movement of COVID-19 and Bitcoin: Evidence from wavelet coherence analysis

John W. Goodell and Stéphane Goutte

Overshooting of sovereign emerging eurobond yields in the context of COVID-19

Babacar Sène, Mohamed Lamine Mbengue and Mouhamad M. Allaya

Stock return predictability in the time of COVID-19

Cetin Ciner

The bubble contagion effect of COVID-19 outbreak: Evidence from crude oil and gold markets

Cheima Gharib, Salma Mefteh-Wali and Sami Ben Jabeur

COVID-19 lockdowns, stimulus packages, travel bans, and stock returns

Paresh Kumar Narayan, Dinh Phan and Guangqiang Liu

The role of ESG performance during times of financial crisis: Evidence from COVID-19 in China

David Broadstock, Kalok Chan, Louis T.W. Cheng and Xiaowei Wang

COVID-19 effect on herding behaviour in European capital markets

Christian Espinosa-Méndez and Jose Arias

Are Bitcoin and Ethereum safe-havens for stocks during the COVID-19 pandemic?

Christy Dwita Mariana, Irwan Ekaputra and Zaäfri Ananto Husodo

Covid-19 pandemic and tail-dependency networks of financial assets

Trung Hai Le, Hung Do, Duc Khuong Nguyen and Ahmet Sensoy

The impact of operating flexibility on firms’ performance during the COVID-19 outbreak: Evidence from China

Hao Liu, Xingjian Yi and Libo Yin

What caused global stock market meltdown during the COVID pandemic–Lockdown stringency or investor panic?

Shobhit Aggarwal, Samarpan Nawn and Amish Dugar

The COVID-19 outbreak and stock market reactions: Evidence from Australia

Md Lutfur Rahman, Abu Amin and Mohammed Abdullah Al Mamun

Household leverage and education expenditure: the role of household investment

Huaying Wei, Rui Guo, Honghao Sun and Nan Wang

The impact of COVID-19 on the Chinese stock market: Sentimental or substantial?

Yunchuan Sun, Mengyuan Wu, Xiaoping Zeng and Zihan Peng

Fractal analysis of market (in)efficiency during the COVID-19

Massimiliano Frezza, Sergio Bianchi and Augusto Pianese

Flight-to-quality between global stock and bond markets in the COVID era

Stephanos Papadamou, Athanasios Fassas, Dimitris Kenourgios and Dimitrios Dimitriou

The unprecedented reaction of equity and commodity markets to COVID-19

Amine Ben Amar, Belaid Fateh, Adel Ben Youssef, Benjamin Chiao and Khaled Guesmi

Impacts of the COVID-19 pandemic on financial market connectedness

Mike K.P. So, Amanda M.Y. Chu and Thomas W.C. Chan

Reconsidering systematic factors during the Covid-19 pandemic – The rising importance of ESG

Violeta Díaz, Denada Ibrushi and Jialin Zhao

Stock Return and the COVID-19 pandemic: Evidence from Canada and the US

Libo Xu

Trust and stock market volatility during the COVID-19 crisis

Nils Engelhardt, Miguel Krause, Daniel Neukirchen and Peter N. Posch

Exploration of safe havens for Africa's stock markets: A test case under COVID-19 crisis

Maurice Omane-Adjepong and Imhotep Alagidede