Finance Research Letters

2004 - 2025

Current editor(s): R. Gençay

From Elsevier
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Volume 71, issue C, 2025

Risk spillover changes among commodity futures, stock and ESG markets: A study based on multidimensional higher order moment perspective

Peining Yu, Luohui Zhou, Zejun Chen and Chujin Li

Determinants for predicting zero-leverage decisions: A machine learning approach

Shengke Dong and Yuexiang Jiang

Institutional trading and satellite data

JinGi Ha

Legal infrastructures for firm innovation: Effects of intellectual property protection in the era of digital economy

Bingru Yuan and Weibo Li

Is the business cycle getting hit by climate policy uncertainty in China?

Juan Chen and Zuoping Xiao

The impact of government data accessibility on cross-regional venture capital investments

Qi Lin, Xiaoyang Zhao and Weihang Hong

The effect of environmental information disclosure on environmental rating divergence

Jianping Deng, Han Chen and Yuxin Bai

Social credit improvement and enterprise investment

Fei Ji, Weiming Liang, Xi Chen and Dongmin Kong

Stock-Term market impact of major cyber-attacks: Evidence for the ten most exposed insurance firms to cyber risk

António Miguel Martins and Nuno Moutinho

The relationship between ESG ratings and digital technological innovation in manufacturing: Insights via dual machine learning models

Bai Yang, Jingfeng Huang and Yinzhong Chen

Bitcoin arbitrage and exchange default risk

Weiwei Guo, Silvia Intini and Hossein Jahanshahloo

Women helping women? Female local official and gender gap in bank credit

Weijuan Liang, Mu Tang, Yuanyuan Wang, Bo Ning and Jianing Chen

The shifted GARCH model with affine variance: Applications in pricing

Marcos Escobar-Anel, Yangyang Hou and Lars Stentoft

Financial risk contagion across markets in China under the impact of the COVID-19 pandemic

Sunan Ji, Dazhi Zheng and Kaiguo Zhou

Contemporaneous and lagged spillovers between agriculture, crude oil, carbon emission allowance, and climate change

Yan-Hong Yang, Ying-Hui Shao and Wei-Xing Zhou

Impact of environmental information disclosure on green technology innovation:Evidence from China's Listed Companies

Nan Wang, Gang Yang, Jin Wu and Lv Wenya

The role of digital finance in enhancing export competitiveness: insights from China's listed companies

Wenjuan Li, Xinghua Liu and Lei Zhou

Assessing national governance modernization: Leveraging the ordered weighted geometric composition operator

Shasha Jiang, Zixue Guo, Yuntong Zhang and Yunmei Zhang

The impact of government green subsidies on corporate green innovation

Jin An, Guiqian He, Shilong Ge and Shanshan Wu

Impact of equity pledges on analysts earnings forecasts

Xiaoguang Gao, Juncheng Luo and Qiang Zhao

The role of the digital economy in enhancing green innovation: Evidence from Chinese A-share listed enterprises

Zhiang Chen and Wenlong Xu

CEO financial background and corporate financialization

Dan Kang, Jiahao Xu, Qiye Tong and Jiayan Li

The spillover effects of the "Binance Incident" on financial markets: A study based on machine learning approach

Lingbing Feng, Jiajun Qi, Ye Liu and Wei Wang

Human capital disclosures and institutional ownership

Linh Thompson

Effects of digital economic antitrust policy on enhancing corporate innovation performance

Xiaofen Wang, Jing Yu and Jing Di

Low-carbon pilot cities and financialization of listed companies: Inhibitory effects and policy analysis

Min Wan, Dedai Wei and Chenming Yu

Digital transformation and ESG performance: The chain mediating role of technological innovation and financing constraints

Jian Xu and Jian Yin

Adoption of green technology with financial friction

Fabian Herweg

Stock market reaction to the voluntary adoption of nature-related financial disclosure: An event study

Tiphaine Jérôme and Cédric Poretti

The effect of COVID-19 vaccine on the international financial markets

Yunsheng Ma and Jiaying Wang

Carbon emission allowance, global climate risk, and agricultural futures: An extreme spillover analysis in China

Zengfu Yao, Yonghuai Chen, Shicheng Deng, Yifeng Zhang and Yu Wei

Green finance policies, resource allocation, and corporate social responsibility

Yanqiong Liu and Xiaoling Li

Climate policy uncertainty and earnings management

Viet Tran

Distinctive impacts of ESG pillars on corporate financial performance: A random forest analysis of Korean listed firms

Yangsoo Jin

Environmental orientation, regional innovation, and equity crowdfunding campaigns’ outcomes: Evidence from two Italian platforms

Kevin Pirazzi Maffiola, Viviana D'Angelo, Francesca Capo and Elena Scali

The impact of information disclosure from user-generated content media on corporate value: Evidence from Douyin

Rongda Chen, Tingyi Zhang, Shuonan Zhang, Jingjing Yu and Feng Xu

Digital finance as a catalyst for energy transition and sustainable rural economic growth

Qinyi Gong and Rui Zhang

Feature importance in linear models with ensemble machine learning: A study of the Fama and French five-factor model

Tae Yeon Kwon

Political risk impact on China’s OFDI along the belt and road initiative

Qin Yang, Xiuguo Gong, Tao Chen and Tian Xiao

Biodiversity risk and firm efficiency

Yulin Li, Xiaohui Liu, Jean Canil and Chee Seng Cheong

Green gains: The impact of REITs' environmental performance on sustainability-linked loan interest rates

Tanja Artiga Gonzalez, Laura Capera Romero, Egle Karmaziene and Xin Yuan

Informal financing access: Can fintech development affect trade credit access?

Juecen Liu, Mengxuan Tang, John W. Goodell and Yang Hu

Energy policy uncertainty, financial development and public-private investment in BRIC nations

Qian Chen

The impact of trade liberalization on China–ASEAN trade relations along the belt and road: An augmented gravity model analysis

Lin Wang and Kai Chen

Higher education investment, human capital, and high-quality economic development

Lianfeng Ma, Yufei Gan and Ping Huang

Uncovering the risk-return trade-off through ridge regressions

Nuria Alemany, Vicent Aragó and Enrique Salvador

Green technology innovation and corporate brand competitiveness: an analysis based on the role of environmental policy

Zhonghua Sun and Wei Wei

The development of digital finance and the crime rate of theft

Yuelin Yang

Business environment optimization effects on enterprise environmental protection investment

Xiaofang Guo, Sicen Chen and Chenlan Liu

The impact of bank FinTech on green credit allocation: Evidence from China

Yumiao Deng, Mengmeng Fang, Sichao Ma, Fanzhi Wang and Wanting Wu

State-owned equity investment funds and corporate innovation

Wei Fang, Mian Fang and PengHang Wang

Beyond threats: Extreme heatwaves and economic resilience in China

Xinya Wang, Huixiao Guo, Youwei Li and Shupei Huang

Who, republican or democrat CEOs, laughs last? Political cycles in the market for corporate directors

Seong Jin Ahn and Changmin Lee

Earthquakes in Chile and Peru: How are they reflected in the copper financial market?

Pablo Tapia-Griñen, Boris Pastén-Henríquez and Jorge Sepúlveda-Velásquez

Are venture capitalists monitors or claptrap players in IPOs? New evidence from an emerging market

Xiaojie Ye, Dan Yang and Jiaqin Zhong

Non-controlling shareholders’ network and the reliability of merger and acquisition performance commitments: Governance or collusion?

Shaozheng Fu and Jinkun Yang

Analysis of credit ABS based on Markov chain approaches

Fengming Liu and Yingda Song

Liquidity and cost advantage of green bonds

Ming Yan, Xiangqian Li, Xing Zhao and Zhuoyi He

ESG performance and sustainability concerns exposure

Thanh Nam Vu

Analyzing the role of regulation in shaping private finance for sustainability in the European Union

Leonardo Boni and Lisa Scheitza

Navigating climate policy uncertainty: Impacts on continuous innovation in corporations

Shixian Ling, Hui Xia, Liu, Zhangxin (Frank), Sirimon Treepongkaruna and Samara Haroon

Are cryptocurrencies priced in the cross-section? A portfolio approach

Vincent K. Assamoi, Adelphe Ekponon and Zihan Guo

Capital market liberalization, internal control and corporate diversification: Evidence from China

Zhongze Li, Qinyuan Chen and Yi Zhang

Energy transition policy and rural revitalization of Chinese ethnic regions

Jinghua Yang, Ming Xiong and Xingying Li

Digital financial inclusion and public service equalization

Yanwu Yang and Bing Gong

Business environment optimization and corporate sustainable innovation: Evidence from China

Zhanyong Liang, Kangquan Qiu, Jiakun Zhuang and Qingyang Zhang

ESG performance and corporate financialization: A dual perspective of risk management and value creation

Chengyin Gao and Shujun Zhang

Integration of technology and finance, digital transformation and corporate green innovation

Yanwu Yang, Haili Ren, Yutong Liu and Yusen Yang

Digital transformation, audit risk, and the low-carbon transition of China's energy enterprises

Lu Wang

Social security, digital literacy, and relative poverty in China

Yan Li and Yuyang Huang

The impact of financial technology advancement on stock crash risk: An Analysis of the mediating effect of information transparency

Qifeng Zou and Yanliang Zhang

The effect of dividend tax reform on earnings management: Evidence from a natural experiment in Korea

Catherine Heyjung Sonu

Forecasting the daily exchange rate of the UK pound sterling against the US dollar

Zsolt Darvas and Zoltán Schepp

Does flood risk affect the implied cost of equity capital?

Fujun Lai, Xianli Cheng, An Li, Deping Xiong and Yunzhong Li

Which sustainable development goals favor crowdfunding success?

Marco Bade and Felix Reichenbach

Bank credit risk and sovereign debt exposure: Moral hazard or hedging?

Laura Baselga-Pascual, Lidia Loban and Emma-Riikka Myllymäki

Financial development, electronic payments, and residents' consumption: Evidence from rural China

Zengjian Huang, Leyi Wang and Wensong Yu

Divergent relationships between exchange rate pass-through and policy rates across economies: An extension of the Taylor rule

Wei Ma, Renzhong Zhang, Liyan Han and Wei Li

Bankruptcy reform and breakthrough innovation: Evidence from the quasi-experiment in China

Xin Cui, Chunfeng Wang and Tingting Ma

Can digital finance enhance enterprise research and development innovation? The mediating role of dual consumption behavior transformation

Yinhai Fang and Zhihui Liu

Do bank incentives matter? Evidence from the impact of green finance on corporate carbon neutrality performance

Hao Wu and Yunling Song

Access to finance: The role of production level technology

Nirosha Wellalage, Damien Wallace and Krishna Reddy

The disappearing turn-of-month effect

Laura Han, Yufeng Han and Shirley Tian

Accountability and the quality of information disclosure of state-owned enterprises

Fangsu Dong, Huaichen Dong and Lei Zhang

Government disclosure specificity and stock price synchronicity: Evidence from local government work reports in China

Manning Gong, Chunfang Cao and Yuheng Zhang

Digital economy, education, human capital and urban–rural income disparity

Yulai Zhang, Liu Hainan, Fangfang Feng and Xuezhou Wu

Enhancing green total factor productivity through corporate social responsibility: The moderating effect of environmental regulations

Zetong Li and Jingjie Cao

Optimal financial inclusion for financial stability: Empirical insight from developing countries

Meriem Sebai, Omar Talbi and Hella Guerchi-Mehri

Regulatory effects of environmental protection tax law on corporate practices in China

Dan Xu and Cuihua Wu

Family-governed businesses and successful equity crowdfunding: The moderating role of sustainability orientation

Paolo Capolupo, Angelo Natalicchio, Lorenzo Ardito, Antonio Messeni Petruzzelli and Manuela Cazzorla

Helping hand or grabbing hand: The impact of land finance on the green economic development in China

Yicheng Zhou and Boqiang Lin

Corporate cash shortfalls and external financing: US vs Japan

Huan Chen, Xin Liu, Quoc Phan and Steven Xiaofan Zheng

CEO inside debt holdings and climate risk concerns in corporate acquisition

Yueying Su, Jialong Li, Zhicheng Li and Cathy Wu

Is corporate social responsibility priced into Yankee bonds?

Steven X. Zhu, Kelly Cai and Hui Zhu

Social security, health capital and household investment behavior

Yiran He, Xinao He, Siyu Yan and Jian Huang

Institutional investor networks centrality and firms’ debt maturity mismatch

Tingting Liu, Ziang Chen, Junrui Zhang and Brian Lucey

Industry-specific information disclosure regulation and corporate ESG performance: Evidence from China

Gaocai Chen and Mengqi Zou

Repo haircuts: Market practices and the impact of minimum requirements on leverage

Michael Grill, Felix Hermes and Michael Wedow

Does CBDC launch increase tax collection? empirical evidence from China

Muhammad Umar

Intelligent forecasting in bitcoin markets

Gil Cohen and Avishay Aiche

Relationship between government subsidies and audit quality: Unveiling the role of ownership structure

Ze Zhou, Cuifang Yuan, Fei Ren and Pengjia Che