Pacific-Basin Finance Journal

1993 - 2026

Current editor(s): K. Chan and S. Ghon Rhee

From Elsevier
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Volume 97, issue C, 2026

The impact of local government debt on household consumption inequality

Xueliang Lv and Hua Zhang

Judicial specialization and SME capital efficiency: The role of financial courts reform

Yapeng Zhao, Yuyan Tan and Xuelei Hou

The nonlinear impact of oil price uncertainty on firm innovation: Evidence from China’s listed firms

Feng Guo and Yinhang Wu

Order spoofing, price impact, and market quality

Jianqiang Chen, Pei-Fang Hsieh and J. Jimmy Yang

Crossing the Pacific: Spillover effects of US monetary policy on Chinese corporate investment

Huating Lai, Weihong Sun and Ding Liu

Financialization, market structure and total factor productivity of manufacturing enterprises

Long Miao, Qianya Wen and Wei Li

Cross-market attention for futures forecasting and ETF performance enhancement

Min-Rui Choo, Wei-Che Tsai, Hsiu-Chuan Lee and Chung-Jen Yang

Institutional innovation and interfirm finance: The impact of smart city pilots on trade credit

Ouyang Li, Yefeng Zhang, Zijian Shen and Jingyi Wang

Cross-border data flow regulation and multinational enterprise financing constraints: A pre-registered report

Shixin Li, Boyu Liu, Ziran Qu and Dan Zhu

Performance-based regularization for downside-risk cryptocurrency portfolios: Evidence from mean-lower partial moment strategies

Xingyi Li, Zhuang Liu and Jingzhou Yan

Short selling and the probability of informed trading: Insights from interlocking directorate networks

Yanan Li, Yunhui Shi and Yezhou Sha

Forecast disagreement about firm-level profitability and uncertainty

Seohyun Lee

PBFJ editorial responsible science, research balance, and the problem of bandwagons

Robert W. Faff

The impact of blockchain initiatives on shareholder value: An opportunity-motivation-ability framework

Liukai Wang, Tingting Li, Yali Zhang and Jiqiong Liu

CEO hometown identity and cash hoarding

Chen Song

ESG disclosure, ESG rating disagreement and firm valuation in China: A pre-registered report

Xiaoquan Zhu, Yifan Yang and Huijia Hua

Day trading and illiquidity premia: Evidence from China

Ru Xiao, Chaoqun Ma and Dominik Rösch

Understanding regulatory fragmentation: Firm-level evidence from China: A pre-registered report

Xiangli Liu, Yutong Xu and Jingyi Wang

Digital finance and science-based innovation: Evidence from Chinese leading manufacturing firms

Xinxin Chen and Wu Yang

Shadow banking coordinated supervision and systemic risk control: Empirical evidence from the New Asset Management Regulation

Siyu Zhang, Wenlong Miao and Haoran Xu

Does CSR compensate for global institutional voids? Corporate insider trading as a test of transaction ethics

Sophie Carran, Allan Hodgson, Shahrokh M. Saudagaran and Zhengling Xiong

ETF ownership and corporate default risk: Evidence from Chinese stock market11This research did not receive any specific grant from funding agencies in the public, commercial, or not-for-profit sectors.Declarations of interest: none

Fangzhao Zhou, Mingyang Hu, Yixun Zhou, Lu Zhang and Shaoqing Jia

Inter-industry credit risk contagion based on a multiplex network: Evidence from China's bond market

Ran Huang, Xuanmeng Huang, Yingxin Chang and Die Hu

Travel restriction and analysts' information acquisition and production

Ying Du, Di Guo, Baolei Qi and Wenfeng Wang

Forecasting stock market volatility with policy focus shifting: A GARCH-MIDAS model combined with machine learning approaches

Jier Zhang, Libo Yin, Ying Li and Tong Fang

Abnormal analyst coverage and the cross-section of stock returns: Evidence from China

Dongxu Li, Xiaorong Zheng and Junzhe Zhang

Why do mutual funds hold ESG? Evidence from China

Ping Zhang, Zixi Wang and Yezhou Sha

Deviation from target capital structure and corporate misconduct

Tsai-Ling Liao and Ruey-Jenn Ho

Can artificial intelligence enhance corporate resilience? Empirical evidence from China's A-share listed firms

Xiaojing Chen, Wen Liu, Geng Chen, Xujian Wang and Yun Zhang

Digital credit information sharing and trade credit provision: Evidence from digital social credit platforms in China

Binglei Duan, Xiao Li, Yuan Li and Kang Sun

ESG ratings and stock price crash risk: Role of herding behavior and network media attention

Xinle Tong, Xinyue Lyu, Jingyu Jin and Huabin Bian

Navigating the storm: The effect of supplier strategic alliances during the IPO suspension crisis

Yuyang Chen, Changshuai Pei and Xinlu Wang

Institutional investors' debt-related attention and the cost of debt: Evidence from site visit Q&As

Kaijuan Gao, Shiying Deng, Xinyu Zhu and Kam C. Chan

Vertical cross-shareholding and dynamic capital structure adjustment

Cheng Liu, Siyuan Dong and Xinyi Gao

Board gender diversity and bank performance during COVID-19: Did women save the day?

Maria Semenova, Yuliana Loginova and Anna Balsevich

Governance consequences of shareholder dissent in director elections: Evidence from a purely majority voting system

Martin Bugeja, Raymond da Silva Rosa, Yaowen Shan and Jiaqi Wang

CEO rolodex and the value of excess cash holding: Evidence from Korea

Dongwook Seo, Seongjae Mun, Yonghyun Kwon and Hyeong Joon Kim

Digitalization of financial infrastructure and cash holdings: Evidence from China

Shiwen Chen, Jing Tian, Jun Bai and Xueling Cai

Volume 96, issue C, 2026

Global financial cycle: The temporal dimension and cross-sectional dimension

Yi Fang and Qirui Tang

Volatility and skewness predictability with deep learning and big data: Chinese futures market case

Jiancheng Shen, Jia Wang, Xuejun Ma, Xin Chen and Han Cang

Sentiment and uncertainty: Evidence from China

Xun Lei, Jiexiang Huang and Xinfeng Ruan

Irrational cognition in the stock market

Jun Xie, Shuoyue Shi and Bin Gao

Information diffusion through weighted positive causal networks: Evidence from pair-based trading strategy in China

Hui Bu, Huanghao Chen, Wenjin Tang, Jerome Yen and Erya Zheng

Board gender diversity and default risk in a bank-based financial system: A pre-registered study

Hideaki Sakawa, Naoki Watanabel and Searat Ali

The spillover effect of delisting risk on stock price synchronicity of regional peer firms

Rensi Li

Family firms performance under competitive pressure: Evidence from market access reforms in China

Yuanyuan Liu, Jingwen Zhang, Qingmiao Bi and Joseph Onochie

Which factors in China? A pre-registered study

Philip Gharghori and Annette Nguyen

Industrial robot adoption and geographical customer distribution strategy: Evidence from China

Rui Xu, Junqi Xie and Shumei Pang

Information and stock returns: Evidence from high-frequency data in China's ETF options market

Jingjing Meng, Wenjing Song, Mei Yu and Zixuan Qin

Does digital finance improve household financial health? Evidence from China

Minghao Zhu, Haimeng Shi, Rong Kong, Zarqa Khalid, Maaz Hassan and Zhe Chen

A study of the impact of real option investment on firms' long-term performance under uncertainty: Empirical evidence from China

Jiazhu Li and Haojun Wang

Do bank ties influence stock repurchases in a bank-based financial system during financial distress? A pre-registered study

Hideaki Sakawa, Naoki Watanabel and Konari Uchida

Does RMB drive the dynamic of RCEP regional currency FXs?

Feng Guo and Fujun Lai

Reducing financial distress through digital institutional reform: Evidence from China's business environment pilot

Xinwei Liu, Jinge Fu and Chen Wang

Forward-looking signals and the predictability of size effect in the Taiwan stock market

Kuan-Cheng Ko, Shu-Feng Wang, Wen-Chi Lo and Pei-Chun Tsai

Ascertaining price formation in financial markets with machine learning: Evidence from Chinese stocks

Hailun Xu, Xianghui Yuan, Liwei Jin, Jun Long and Gen Xu

The impact of intergenerational succession in family businesses on international strategy: A pre-registered report

Honglin Ren and Anqi Jiao

The role of state-owned capital in the innovation of private-owned enterprises: Evidence from China

Haiyan Xue, Haijuan Zhang, Xindong Zhang and Shusheng Ding

Disentangling market and uncertainty effects in crypto valuation: A portfolio-based analysis

Withz Aimable

Predicting cryptocurrency returns with machine learning: Evidence from high-dimensional factor modeling

Xingyi Li, Zhuang Liu, Yujun Liu, Shushang Zhu and Jingzhou Yan

CEO Party School education and ESG performance: Evidence from China

Xudong He, Shuang Yu and Zunxin Zheng

News implied volatility and corporate leverage

Zhen Cao, Qiang Gao, Shijie Wang and Yuanzhi Wang

How does artificial intelligence affect the financing efficiency of small and medium-sized enterprises (SMEs)?

Ya Bu, Ningxian Jin and Hui Li

Salience and return reversals: Evidence from China

Xiao Li and Xirou Yang

Learn to explain the smile: An interpretable hybrid machine learning model to understand the implied volatility of CSI 300 options

Pengshi Li, Jinbo Huang and Yan Lin

Artificial intelligence and stock price crash risk: Evidence from China: A pre-registered study

Xiao Bai, Wenyao Zhao and Meng Liu

The impact of climate risk on municipal bonds pricing: Evidence from Chinese Chengtou bonds

Chuanhai Zhang, Zhongjie Zheng and Tao Bing

Board ownership representativeness and trade credit: Evidence from China: A pre-registered study

Fuxiu Jiang, Jia Ma and Bin Gu

Corrigendum to “Artificial intelligence and stock price crash risk: Evidence from China: A pre-registered report” [Pacific-Basin Finance Journal 93 (2025) 102879]

Xiao Bai and Wenyao Zhao

A machine learning-based study of credit risk in supply chain finance of listed service-oriented enterprises in China

Ziyang Wang, Yunpeng Li, Zhihao Cui, Weinan Zheng and Ting Wang

How digital transformation shapes corporate venture capital: Insights from China

Liangyong Wan, Xiaowei Xu, Jianyou Ou and Bingxuan Lin

PBFJ editorial … “responsible and open science in action” … an update on the PBFJ experiment and beyond …

Robert Faff

Does gender diversity on boards improve bank financial performance in a bank-based financial system? A pre-registered study

Hideaki Sakawa, Naoki Watanabel and Yoshio Kuroki

Does knowledge empower? Debt literacy and credit usage in rural consumer finance

Remya Tressa Jacob and Rudra Sensarma

Highway infrastructure policy, financial frictions and capital misallocation: Evidence from China

Ye He, Nan Lin, Dingkun Lu and Yanyu Zhou

The long game: CEO-CFO power dynamics and corporate debt maturity choices

Jiyuan Li, Yicong Li, Lili Yan and Mengying Zhao

Small notes, big impact: Enhancing monetary policy transmission through central bank communication

Wei Li and Wenhua Hu

Entrepreneurial finance, primary equity markets, and growth: Evidence from a macro-panel of 97 economies

Vinod Kumar and Ganesh Kumar Nidugala

The resource coopetition effect in family business succession: Successor maturity and corporate risk-taking

Lei Zhu, Jiong Wu and Shanshan Xiao

Anchoring-induced insider sales in emerging markets: The role of stock price informativeness

Wenlian Lin and Jingchen Pan

Inventors and firm innovation: Does location matter?

Junbiao Yu

Urban green technology transfer networks and green finance development: Evidence from the Yangtze River Delta, China

Feng Hu, Huijie Yang, Shaobin Wei, Haiyan Zhou, Yufeng Chen and Hao Hu

Can strengthened financial regulation reduce monopsony power in superstar firms? Evidence from China's asset management reform

Shiqi Yao, Limin Song and Junkang Zhang

Do managerial pay caps intensify agency conflicts? Evidence from corporate cash holdings

Jia Guo, Kemin Wang and Guanglong Zhang

Board independence, promoter influence, and share pledging behavior

Praveena Musunuru, Mohammad Shameem Jawed and Kaveri Krishnan

Quantile auto-encode narrative asset pricing model in the Chinese stock market

Xing Chen, Rui Huang and Chongfeng Wu

Understanding researchers' perceptions and experiences in finance research replication studies: A pre-registered study

Daniel Chai, Searat Ali, Mark Brosnan and Tim Hasso

Hedging financial turbulence risk with textual analysis

Qingfu Liu, Yiuman Tse, Chuanjie Wang and Jiaer Yang

Illusion momentum and cross-sectional returns

Yasuhiro Iwanaga and Takehide Hirose

Reassessing bond pricing efficiency: The effects of deregulating mandatory bond ratings

Lei Lu, Qingfu Liu, Zilu Wang and Sumei Luo

Multi-term momentum effect and driving mechanisms based on machine learning

Yuzhi Chen, Deyuan Zhang, Xinyue Li and Hang Su

Rainbow deep reinforcement learning in the Chinese stock market

Jing Chen, Haoran Fu, Yushan Xue and Yifeng Zhu

Unpacking financial (dis)engagement of young adults transitioning into the workforce: An investigation of financial habit clusters

Jennifer L. Harrison, Elisabeth Sinnewe, Steffen Westermann and Gavin Nicholson

Conservatism and silence: The clan premium

Jier Zhang and Libo Yin

FinTech and trade credit financing: Evidence from Chinese listed firms

Ruoyu Chen, Yang Wu, Xiaohan Wu and Xu Tian

Efficient monitoring through debt diversity: Insights on tunneling practices in Indian listed firms

Mithun Samanta, Ajay Kumar Mishra and Bhavik Parikh

Green finance reform and environmental information disclosure: Evidence from China

Xiaoran Ni, Kai Tan and Wenli Lu

Do audit fee floors work? Pricing and quality around China's regulation and deregulation

Tingyou Deng and Huaxi Zhang

Beyond market stress: Incremental long-term information in geopolitical tension for gold volatility

Yang Liu and Shun Li

Fintech revolution in banking: A double-edged sword?

Habib Hussain Khan, Fiza Qureshi, Mohammad Rais Ahmad and Ayesha Anwar