Pacific-Basin Finance Journal

1993 - 2025

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

From Elsevier
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Volume 84, issue C, 2024

Labor leverage and firm risk: Evidence from Korea

Wonho Cho and Yongjun Kim

The impact of the Pitching Research Framework on AFAANZ grant applications: A pre-registered study

Chelsea Gill, Vishal Mehrotra, Olayinka Moses and Binh Bui

An empirical evaluation of the salience-based asset pricing model: Evidence from Australia

Deok-Hyeon Lee, Byoung-Kyu Min and Yucaho Xiao

Asset pricing implications of firms' profit sharing

Jaewan Bae and Jangkoo Kang

Female government officials and corporate cash holdings

Tianqi Jiang, Yi Shen, Yali He and Zhao Wang

Institutional ownership and earnings quality: Evidence from China

Muhammad Jahangir Ali, Pallab Kumar Biswas, Larelle Chapple and Sriyalatha Kumarasinghe

Fintech regulation and bank liquidity creation: Evidence from China

Shiyu Liu, Bo Wang and Qianqian Zhang

Profitability of technical trading rules in the Chinese stock market

O-Chia Chuang, Hui-Ching Chuang, Zixuan Wang and Jin Xu

Bundled insurance coverage and asymmetric information: Claim patterns of automobile theft insurance in Taiwan

Sheng-Chang Peng and Chu-Shiu Li

Trading volume, anomaly returns and noise trader risk in China

Chunmao Han and Wei Zhang

Overlapping committee membership and cost of equity capital

Md. Borhan Uddin Bhuiyan and Muhammad A. Cheema

From fundamental signals to stock volatility: A machine learning approach

Cunfei Liao and Tian Ma

Government-initiated corporate social responsibility and performance growth—Evidence from enterprise engagement in targeted poverty alleviation in China

Xiaolin Wang and Yingying Ye

Institutional investors' limited attention and stock price informativeness in emerging markets: Evidence from China11We thank participants in 2021 China International Finance Conference (Shanghai) and the Finance and Development Forum (Tsinghua University) for helpful comments on an earlier version of the paper. Ni acknowledges financial support from the National Natural Science Foundation of China (No. 72272126), the Fundamental Scientific Center for Econometric Modeling and Economic Policy Studies, National Science Foundation of China (No.71988101), and the Key Laboratory of Econometrics (Xiamen University), Ministry of Education. All errors are our own

Xiaoran Ni and Qi Jin

Extrapolation and option-implied kurtosis in volatility forecasting

Ging-Ginq Pan, Yung-Ming Shiu and Tu-Cheng Wu

Non-native players in the domestic league: Foreign penetration and domestic banking sector in an emerging market

Nhan Huynh

Board chair and credit rating of family firms: Evidence from China

Fuxiu Jiang, Weiyi Wang and Xiaojia Zheng

Digital transformation and corporate capital structure: Evidence from China

Yi Xue and Xinzhi Zhang

When they say ‘not affected’, what do they mean? Evidence from trade disputes

Xin Pang, Kemin Wang and Lin Zhou

Patent collateral and the trajectory of innovation

Yonggen Luo, Deli Wang and Shiyang Hu

Information asymmetry in reinsurance through various ceded contracts

Vincent Y.L. Chang, Kuo Ming Hung, Kili C. Wang and Sand Yang

Policy uncertainty, investor sentiment, and good and bad volatilities in the stock market: Evidence from China

Jihong Xiao, Jiajie Jiang and Yaojie Zhang

How do banks price carbon risk? Evidence from India

Neeru Chaudhry and Damini Kumari

Surges of cross border capital flow: The impact of digital finance

Qin Gou, Xingshen Li and Guojun Zhao

The evolution and determinants of the non-performing loan burden in Italian banking

Livia Pancotto, Owain ap Gwilym and Jonathan Williams

Applied AI for finance and accounting: Alternative data and opportunities

Sean Shun Cao, Wei Jiang, Lei, Lijun (Gillian) and Zhou, Qing (Clara)

Short-term success and long-term failure? The case of GDP growth targets and corporate innovation

Yanyang Sun, Yu Chen and Wenruo Wu

The role of anti-tax avoidance in tax base flow and international tax competition

Jiaxing Zheng, Sida Bai, Cheng Gu, Bihui Huang and Mengxu Xiong

To fix or not to fix: The representativeness of the WM/R methodology that underpins the FX benchmark rates. A pre-registered report

Matteo Benenchia, Luca Galati and Andrew Lepone

Non-deposit liability and bank risk-taking: International evidence

Yizhong Wang, Shuting Hou, Ting Wang and Mengxuan Li

Peer effects on corporate environmental protection: Competition, information cascades or career concerns?

Quanxi Liang, Qiumei Li, Meiting Lu, Yaowen Shan and Peipei Wang

Determining bid-ask prices for options with stochastic illiquidity and applications to index options

Ming-Che Chuang and Jeffrey Tzuhao Tsai

Switching spillovers and connectedness between Sukuk and international Islamic stock markets

Walid Mensi, Yeonjeong Lee, Sami Al-Kharusi and Seong-Min Yoon

Predicting the equity premium with financial ratios: A comprehensive look over a long period in Korea

Dojoon Park, Jaehoon Hahn and Young Ho Eom

How does the economic structure break change the forecast effect of money and credit on output? Evidence based on machine learning algorithms

Yao Lu, Zhihui Zhao, Yuan Tian and Minghua Zhan

Volume 83, issue C, 2024

Dissecting the links among profitability, the disposition effect, and trading activity

Teng Yuan Cheng, Chun I. Lee and Chao Hsien Lin

Return predictability of prospect theory: Evidence from the Thailand stock market

Xi Chen, Junbo Wang and Xiaoling Zhong

Environmental risk exposure and executive pay-for-performance sensitivity

Tianlong Liao, Bingxuan Lin, Jianhua Liu and Rui Lu

Common institutional ownership and the cost of debt in Taiwan

Wei-Zhong Shi, Ming-Chun Hsiao, Tsun-Yi Huang and Min-Teh Yu

Investor decision making within retirement savings schemes

Christopher Bebbington, Robert B. Durand and Joyce Khuu

Saving for whose pocket? Divergence between employee wages and corporate cash holdings

Chien-Lin Lu

How does stock liquidity affect corporate cash holdings in Japan?: A pre-registered report

Ryosuke Fujitani, Kiyonori Iwata and Yukihiro Yasuda

Modeling underwriting risk: A copula regression analysis on U.S. property-casualty insurance byline loss ratios

Jeffrey Tzuhao Tsai and Chien-Ling Lo

The uncertainty of RMB exchange rate expectation and foreign investment: Evidence from Cross-border M&As in China

Deng-Kui Si, Hong-Xue Li, Debao Hu and Xiao-Lin Li

High-Speed Rail Launch: A Natural Experiment on Geographic Location and Cash Dividends

Gang Zhao, Shangkun Liang, Jindan Zhang and Joseph H. Zhang

The asymmetric effect of information shock on overnight and intraday expected returns: Evidence from Chinese A-share stock market

Xiaoqun Liu, Chenji Hou, Shinan Zhu and Haiqiang Chen

Chairman's IT background and enterprise digital transformation: Evidence from China

Yongbin Cai, Na Luo, Xuejing Xie and Yukai Gong

Research on the influence of capital market liberalization on the ESG performance of listed companies—A quasinatural experiment based on the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connects

Rui Huang and Kunyue Duan

The role of venture capital in promoting innovation in key & core technology companies: A pre-registered study

Mei Yu, Zailin Xu and Chuang Ma

Are retail investors liquidity providers? Evidence from the STAR and ChiNext markets in China

Rui Jing and Hongquan Zhu

Can mergers and acquisitions internalize positive externalities in funding innovation?

Thomas J. Chemmanur, Leo Ang Li and Mark H. Liu

Does common institutional ownership improve the similarity of behavior between firms? Evidence from China

Changyang Liu and Jincai He

Digital finance and wealth inequality: Evidence from a big tech platform in China during the COVID-19 pandemic

Yan Shen, Ang Sun, Zikun Zhou and Dun Jia

Leaving the (fund) gate ajar: Investor protection or marketing ploy?

Cecilia Wei Hu, Peter Lam and Adrian D. Lee

Can mutual fund investors benefit from volatility managing? Evidence from China

Xili Zhang, Yiran Zheng, Donald Lien and Xiaojian Yu

Clan culture and corporate innovation

Chang Li, Chu Wang and Chang Xue

Do CEO's cultural backgrounds enhance or impede corporate innovation?

Bo Ning, Yue Pan, Gary Gang Tian and Jinli Xiao

Commodity factor investing via machine learning

Shunwei Zhu, Chunyang Zhou, Hailong Liu and Yangyang Ren

Where there is policy, there is strategy: The impact of a green credit policy on the debt allocation strategy of business groups

Xinghe Liu, Xinyi Liu, Jing Chen and Jun Gao

Demystifying COVID-19 policy actions: The case of inflation control in ASEAN

Syed Aun R. Rizvi, Susan Sunila Sharma and Solikin Juhro

Foreign investors and stealth trading: An examination of price movements in developing markets

Mamduh M. Hanafi

Corporate social responsibility dimensions and stock price crash risk: Evidence from the management's self-interest perspective

Chunying Wu, Xiong Xiong, Ya Gao and J. Ginger Meng

Minority shareholder activism and its ex-ante monitoring role in corporate M&A decisions: Evidence from China

Yugang Chen, Yu Liu, Karen Jingrong Lin and Danglun Luo

Disparity and discrimination in consumer credit markets: Evidence from online peer-to-peer lending

Yu Jiang, Xianming Fang and Zijun Wang

Retail investor attention and analyst earnings forecasts: Evidence from China

Zhida Zhang and Qi Luo

The effect of institutional cross-ownership on corporate risk-taking in a transitional economy

Wenjing Yin, Weiping Li and Yumiao Yu

Does media spotlight really burn innovation? Evidence from China

Guoqiang Hu, Jin-hui Luo, Liang Han and Tianbao Liu

Volatility spillover features in financial industries and identification of systemically important financial institutions: A new perspective

Hu Wang and Xin Liu

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

Lifang Chen and Ruzhen He

How does corporate venture capital enhance incumbents' innovation? Evidence from China

Jin Lu and Yaling Li

Political turnover and corporate credit spread: Evidence from China

Lili Fu and Zhen Chen

Forecasting Chinese stock market volatility with option-implied risk aversion: Evidence from extended realized EGARCH-MIDAS approach

Xinyu Wu, Jia Qian and Xiaohan Zhao

Director turnover, board monitoring and audit fees: Some Australian evidence

Sutharson Kanapathippillai, Ali Yaftian, Soheila Mirshekary, Heibatollah Sami and Ferdinand A Gul

Directors' & Officers' liability insurance and financing decisions: Evidence from debt structure choice

WeiWei Li, Prasad Padmanabhan and Chia-Hsing Huang

Political uncertainty and commonality in liquidity

Tung Dang, Hoang Luong, Lily Nguyen and My Nguyen

Strengthening operational creditor rights and trade credit: Evidence from creditor reforms

Ranjeet Singh, Yogesh Chauhan, Nemiraja Jadiyappa and Anto Joseph

Market memory, advance reaction, and retail investor herding

Xuchu Sun, Tangrong Li, Hongliang Zhu and Jianchang Zhu

The effect of margin-trading and short-selling mechanism on left-tail risk: Evidence from a quasi-natural experiment in China

Xiang Li, Xianghui Yuan, Liwei Jin, Shuo Liu and Miao Liu

The changing face of consumer credit: Evidence from a big tech platform in China

Jiayin Hu, Yiping Huang and Jialin Liu

Digital financial supervision and inefficient investment of enterprises: Evidence from China's internet financial industry

Jiandong Zheng and Feng Guo

A study of financial market resilience in China — From a hot money shock perspective

Chun Tang, Xiaoxing Liu and Guangyi Yang

Islamic banks and capital buffer behavior: A view from the Gulf cooperation council markets

Anissa Naouar, Zakaria Boulanouar and Rihab Grassa

A multi-dimensional connectedness and spillover between green bond and Islamic banking equity: Evidence from country level analysis

Syed Billah, Sinda Hadhri, Mohammad Enamul Hoque and Faruk Balli

Clan culture and participation in FinTech-based risk sharing

Xiangnan Wang, Kexin She and Wenlong Bian

ESG engagement, country-level political risk and bank liquidity creation

Chien-Chiang Lee, Meiting Lu, Chih-Wei Wang and Chia-Yu Cheng

Relative performance evaluation and investment efficiency

Guanmin Liao, Jiajing Wang and Jing Xue

Ownership structure and carbon emissions reduction

Yin-Hua Yeh and Chen-Chieh Liao

Sequence and longevity risks of South Korean retirees: Insights and potential remedies

Hyungjin Ko, Seungyun Lee and Jaewook Lee

FinTech adoption and rural economic development: Evidence from China

Yulong Cai, Zhuo Huang and Xun Zhang

Alumni network, mutual fund herding and information spillover: Evidence from China

Yu Shen, Xilin Mao and Yaxuan Liu

Analysis of tail risk contagion among industry sectors in the Chinese stock market during the COVID-19 pandemic

JunFeng Wu, Chao Zhang and Yun Chen

Underwriting information and insurers' profitability: Evidence from automobile physical damage insurance in Taiwan

Chun-Ting Liu, Chi-Hung Chang and Hannah H. Chen

Retrieving almost stochastic Dominance momentum in Taiwan stock market

Mi-Hsiu Chiang, Hsin-Yu Chiu and Yu-Chin Hsu

Does systemic risk affect fund managers' tail risk-taking?

Quansheng Xuan, Zhiyong Li and Tianyu Zhao

The impact of firm risk on the value of cash holdings: The moderating role of corporate social responsibility

Ruey-Jenn Ho, Cho-Min Lin, Chien-Ming Huang and Chun-Wei Lin

Forecasting VaRs via hybrid EVT with normal and non-normal filters: A comparative analysis from the Chinese stock market

Bin Tong, Xundi Diao and Xiaoping Li

Does the risk spillover in global financial markets intensify during major public health emergencies? Evidence from the COVID-19 crisis

Yifan Wang, Xiqi You, Yanhang Zhang and Hanfang Yang

Digital transformation and labor upgrading

Wencong Li, Xingquan Yang and Xingqiang Yin