Pacific-Basin Finance Journal

1993 - 2025

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

From Elsevier
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Volume 87, issue C, 2024

China's local government debt and firm tax burden

Yining Yao, Min Guo, Ping Jiang and Lei Xu

Foreign ownership, institutional distance and mutual fund performance: Evidence from China

Yue Zhang, Caiping Wang and Yufei Chen

Official visits and stock price crash risk

Yanping Wang, Ke Qiao, Qiuhang Xing and Yunxia Bai

Linking labor with capital: How employee friendly treatment impact trade credit availability

Yaoqin Li

Environmental regulation, intelligent manufacturing and corporate investment & financing: Evidence from industrial robot investment

Zhensheng Li, Junpeng Zhu and Shuqiong Wang

Common ownership along the supply chain and supplier innovations

Xian Chen

The disposition effect on partially informed short sellers

Wei-Che Tsai, Li-Jung Lin and Hsin-Yu Chiu

Political uncertainty, bank loans, and corporate behavior: New investigation with machine learning

Yilei Qian, Feng Wang, Muyang Zhang and Ninghua Zhong

The underwriter's conflict of interest and earnings forecast bias in prospectus: Evidence from Hong Kong

Peter F. Chen, Qingchuan Hou, Yihong Wang and Lifang Xu

Violence against women, innate preferences and financial inclusion

Abu Zafar M. Shahriar and Quamrul Alam

An extension analysis of Amihud's illiquidity premium: Evidence from the Taiwan stock market

Hsiu-Chuan Lee, Donald Lien, Her-Jiun Sheu and Chung-Jen Yang

Does SASAC boost the innovation of state-owned enterprises?

Guanchun Liu, Qihong Wang and Yunqing Tao

Agreeing to disagree: Informativeness of sentiments in internet message boards

Thai Ton, Henry Leung, Yang Gao and Dirk Schiereck

Impact of Islamicity on the productivity of conventional and Islamic banks in selected southeast Asian countries

Hasrul Nizam Mamat, Fakarudin Kamarudin, Mohsin Ali and Hafezali Iqbal Hussain

Corporate responses to systemic risk: Talk and action

Yulin Liu, Junbo Wang, Fenghua Wen and Chunchi Wu

Tail connectedness: Measuring the volatility connectedness network of equity markets during crises

Tingting Cheng, Fei Liu, Junli Liu and Wenying Yao

Do short sellers amplify extreme market declines?

Sandun Fernando, Olena Onishchenko and Duminda Kuruppuarachchi

Watchdogs or Petdogs: The role of media freedom on banking system stability

My Nguyen, Ama Samarasinghe and Michael Skully

Bank credit to SMEs in Japan: Evidence from normal times, the global financial crisis, and the COVID-19 crisis

Daisuke Tsuruta

Motives for environmental and social engagement and stock liquidity: The moderating role of sustainability committees

Phuc Minh Nguyen, Christine Jubb and Roshanthi Dias

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

Hideaki Sakawa, Naoki Watanabel and Searat Ali

Determinants of disposition effect in the real estate market: Evidence from Taiwan

Ching-Hsiang Chao, Chuang-Chang Chang, Tsung-Yu Chen and Zhen-Xing Wu

An introduction to frontier on corporate finance and capital market development in China

Xiaofeng Quan, Kelvin Jui Keng Tan and Donghui Li

The conjoint effects of corporate social responsibility performance and report tone on financial constraints: Evidence from China

Chuanlu Ge, Hengsen Cheng, Qingrun Niu and Miao Yang

Increase or decrease: Customer digital transformation and supplier cost stickiness

Mengzhe Li, Siyuan Guo, Xizi Wang and Yingqi Liu

Buffer or substitute? Corporate financialization and leverage manipulation

Yinchao Liao, Jun Wang, Wenru Liao, Xiaoyang Shu and Zhiyong Li

Navigating the “twin titans” of global manufacturing: The impact of US and China on industrial production forecasting in G20 nations

Utkarsh Kumar and Wasim Ahmad

Product network and origin of common equity factor risks

Yan Shi, Zili Zhang and Xuejun Zhao

A four-factor model based on factor momentum

Mengqi Cui and Daye Li

Public's evaluation of ESG and credit default swap: Evidence from East Asian countries

Ning Tang, Hao-Wen Chang, Chih-Yung Lin and Chien-Lin Lu

The impact of financial sanctions on ESG performance of target countries

Xue-Ying Liu, Xin-Xin Zhao, Kun Ma and Susan Sunila Sharma

Supply chain digitization and corporate maturity mismatch: Evidence from a quasi-natural experiment

Yifei Du, Wen Li and Xuesong Tang

Digital finance and capital mobility: Evidence from cross-regional investment of listed companies in China

Qiongzhi Liu, Renke Li and Yuqin Wang

How are green stocks and monetary policy related?

Paresh Kumar Narayan, Bhavesh Garg, Iman Gunadi and Arnita Rishanty

Volume 86, issue C, 2024

Does digital transformation increase bank profit efficiency? Evidence from China

Xingzi Ren, Ke Song, Kairan Zhu and Xinyu Yang

What drives jumps in the secured Overnight Financing Rate? Evidence from the arbitrage-free Nelson–Siegel model with jump diffusion

Dong-Jie Fang, Zong-Wei Yeh, Jie-Cao He and Shih-Kuei Lin

Social forecasting: Online social opinion and the cross-section of stock returns

Kaibin Yuan, Yuheng Liang and Mengnan Zhu

Optimal investment for asset–liability management with delay and partial information under Ornstein–Uhlenbeck process

Dengsheng Chen, Wensheng Yang and Chengben Wang

Sovereign wealth funds as anchor investors in IPOs: Evidence from India

Roshni Garg and Abha Shukla

The impact of stock market liberalization on long-term investment: Evidence from mainland–Hong Kong stock connect programs in China

Yi Zhao, Renhui Fu and Fang Gao

Asymmetric connectedness and investment strategies between commodities and Islamic banks: Evidence from gulf cooperative council (GCC) markets

Syed Billah, Sinda Hadhri, Muneer Shaik and Faruk Balli

Financial geographic density and corporate financial asset holdings: Evidence from China

Ting Wang, Jiani Xu and Liuyong Yang

Does digital transformation matter for trade credit provision? Evidence from China

Linyin Cheng

Fast or slow: Unveiling the speed of market leverage adjustment in China

Yujun Lian, Jun Wang and Manqi Huang

Does reform policy of municipal bonds raise firm risk? A quasi-natural experiment from China

Dapeng Tang, Yiming Yang, Hao Zheng and Mebrahtu Tesfagebreal Gebrehans

Executive-employee pay gap and professor directors: Evidence from China

Xiaofei Song, Hong Fan, Lei Zhou and Ziyao San

Large shareholders' stock selling and corporate performance: Evidence from China

Yun Zhang, Yun Liu, Yicheng Tang and Qun Gao

Digital transformation is not a painless change:Evidence from corporate risk

Fengzhong Liu and Xing Liu

Accelerated depreciation of fixed assets and green transformation of enterprises

Yixuan Guo and Fan Zhang

Digital infrastructure investment and corporate debt concentration: Evidence from a quasi-natural experiment

Qiankun Gu, Zilong Song, Sun, Yiyuan (Ian) and Xiaoou Yu

Market uncertainty and information content in complex seasonality of prices

Wenjin Tang, Hui Bu, Yuqiong Ji and Zhongfei Li

Sustainable finance analysis of commercial banks in China

An-Chi Liu, Shew-Huei Kuo, Chao-Ling Guo and Yang Li

Impact of economic policy uncertainty on the firm's working capital requirements

Chong-Chuo Chang, Hsien-Yi Chen and Khin Thiri Mon

The effect of corruption exposure on the ESG performance of multinational firms11We greatly appreciate the valuable feedback from the editor Hui Guo. John Fan Zhang is an assistant professor and Jacky Yuk-chow So is the Chair Professor, both authors are at the Macau University of Science and Technology. We also deeply appreciate helpful discussions with and suggestions from Ku He, Domingo Ribeiro-Soriano, Chi-Yang Tsou, K. C. John Wei, Shuya Xue, Lisheng Yu, Qianjin Zhang, and seminar participants at the 5th CCGAR Research Camp on Auditing and Accounting, and the 2022 International Conference on Climate and Energy Finance (ICEF), the 2023 CFRI&CIRF Joint Conference, and the 17th NYCU International Finance Conference & 3rd Yushan Conference. This paper is awarded as the best paper at the 2022 ICEF conference. The paper was circulated with the title “Local corruption: A cultural explanation of corporate social responsibility of multinational firms”. This paper is supported by the Macau University of Science and Technology Foundation, funding number: FRG-23-040-MSB. All errors are the authors' responsibility

John Zhang and Jacky Yuk-chow So

Green finance policy and labor demand: Evidence from China

Yi Xie, Jinwen Jiang and Dong Wang

Common institutional ownership types and corporate innovation: A taxonomy based on whether the investees are in the same industry

Xudong Tang, Yang Jia and Rui Li

Information disclosure, product market competition and payout policy

Kung-Cheng Ho, Shih-Cheng Lee and Lee-Hsien Pan

Insider opportunistic trading through fast sales: Evidence from China

Shiyan Du, Wenlian Lin and Jingchen Pan

External debt currency denomination and the currency composition of foreign exchange reserves

Dong Lu, Xingwang Qian and Wenyu Zhu

Misreaction, hedging pressure, and its effect on the futures market

Chin-Ho Chen and Shu-Fang Yuan

Climate change exposure and stock liquidity commonality: International evidence

Ziqiang Liu, Xin Gao, Hao Xu and Weidong Xu

Board sub-committee effectiveness, director attraction and director attrition: Do nomination and remuneration committees matter?

Sutharson Kanapathippillai, Premkanth Puwanenthiren, Dessalegn Mihret and Man Dang

Multiple large shareholders and analyst activities

Fuxiu Jiang, Yanyan Shen and Xue Wang

Unlocking the power of roots: Local CEOs and corporate maturity mismatch

Chun Tang, Xiaobing Lai and Xiaoxing Liu

Customers’ blockchain adoption and suppliers’ provision of trade credit: A pre-registered report

Shan Li, Hanzhong Shi, Joseph Sowahfio Sowah and Kerui Zhai

Green credit, carbon emission trading and corporate green innovation: Evidence from China

Xiaoxiao Zhou, Mengsi Dai and Li Liu

The lending implications of loan loss provisioning and monetary policy in Indonesia

Elis Naiborhu

Pricing media sentiment: Evidence from global mergers and acquisitions

Syed Shams, Sudipta Bose and Ali Sheikhbahaei

Banks can help? Evidence in the speed of lending for COVID-19 personal relief loans and financial inclusion

Ming-Hsin Kung, Chuang-Chang Chang, Yu-Jen Hsiao, Wen-Chi Lo and Bi-Juan Chang

Collateral reuse as a direct funding mechanism in repo markets

George Issa and Elvis Jarnecic

Does environmental governance mitigate the detriment of greenwashing on innovation in China?

Lu Chen, Yan Ma, Gen-Fu Feng and Chun-Ping Chang

Does digital tax enforcement drive corporate digitalization? Evidence from the Golden tax project III in China: A pre-registered study

Lifang Chen, Dehao Xie and Ruzhen He

Clan culture and corporate cash holdings: Are private companies supported by informal institutions?

Shengxi Xue, Taiyun Cao, Qianqian Yu and Yuanyuan Liu

ESG certification, green innovation, and firm value: A quasi-natural experiment based on SynTao Green Finance's ESG ratings: A pre-registered report

Xiao Bai, Wenyao Zhao and Geran Tian

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

Daniel Chai, Searat Ali, Mark Brosnan and Tim Hasso

Public data accessibility and corporate maturity mismatch: Evidence from China

Dongdong Li, Mingxia Gui, Rui Ma and Yiwen Feng

Understanding the local government debt in China

Xin Geng and Meijun Qian

The impact of government procurement on green technological innovation: Evidence from manufacturing sector in china

Xiaofeng Liu, Haoran Miao, Wenxiang Zhou and Yumin Qiu

Forecasting Chinese stock market volatility with high-frequency intraday and current return information

Xinyu Wu, An Zhao, Yuyao Wang and Yang Han

Spot check on corporate disclosure quality: Insights from policy learning

Junsheng Zhang, Zezhi Peng, Yamin Zeng and Haisheng Yang

The effect of cybersecurity legislation on firm cost behavior: Evidence from China

Fangjun Wang, Hao Wang and Jiyuan Li

Bank financing diversification, market structure, and stability in a dual-banking system

Mirzet Šeho, Obiyathulla Bacha and Edib Smolo

The impact of bank fintech on corporate debt default

Haiming Liu and Jikong Hu

Impact of post-IPO investments on the long-term financial market performance of Japanese IPOs: A preregistered report

Colette Southam, Jiang, Guoliang (Frank), James Todd and Isaac Tonkin

Corrigendum to “Institutional investor stewardship and material sustainability information: Evidence from Taiwan” [Pacific-Basin Finance Journal 85 (2024) 102382]

Sharon S. Yang, -Wei Huang and Wei-Hsien Li

Concerted action agreements, corporate innovation, and financial market outcomes: A pre-registered report

Miao Li, Meng He and Aoran Wang

Human rights and value of cash: Evidence from Islamic and non-Islamic countries

Naiwei Chen and Min-Teh Yu

The effects of formal institutions and national culture on equity-based financing in Islamic banks

Ani Silvia, V. Viverita and Dony Abdul Chalid

Product market liberalization and corporate cash holdings: Evidence from China

Ling Lin, Min Xiao, Rongrong Yao and Xiaoying Zhang

Mergers and acquisitions comment letters and analysts' earnings forecasts: Evidence from China

Liangyong Wan, Chen Li, Rui Xu and Hao Zhang

Impact of product market competition on the overconfidence cash holdings relationship in Chinese firms

Le Bo, Haslindar Ibrahim and Jia Li

Is there a time-series momentum effect in the Asian crude oil futures market?

Hao Zhong, Xiaoxiao He and Yuqi Li

Noisy market, machine learning and fundamental momentum

Tian Ma, Haoyun Sheng and Yuejie Wang