The Quarterly Review of Economics and Finance

1993 - 2026

Current editor(s): R. J. Arnould and J. E. Finnerty

From Elsevier
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Volume 109, issue C, 2026

Digitization of payments in France: Lessons from large language models

Sanvi Avouyi-Dovi, Louis-Alexandre Bayol, Lucas Devigne, Ambre Geraut and Christian Pfister

Quantile spillovers under extreme events: Evidence from China’s sectoral markets

Xiuwen Zheng, Doojin Ryu and Wonho Song

Digital finance and clean energy transition of middle- and older-aged households in rural China

Xinheng Li and Tao Fu

Moving beyond the mean: Explaining the cross-sectional tails with firms’ characteristics

Jorge M. Uribe, Montserrat Guillén and Xenxo Vidal-Llana

The impact of crime threats on firms’ digital transformation

Yiyun Ge, Yi Zhang, Ruixuan Zhang and Hanbin Zhu

Portfolios of real estate investors

Jie Zhou

Non-cognitive ability and household financial vulnerability: Evidence from China

Shennan Wang, Qi Li and Kun Wu

Debt overhang and growth: Firm-level heterogeneity in an emerging market

Aykut Şengül and Abdullah Kürşat Merter

Common ownership and corporate tax avoidance: Evidence from China

Guoliu Hu and Hao Tang

Modeling systemic risk and financial contagion: An integrated network-based framework

Giuseppe Orlando

Forecasting firm valuation through investor sentiments: A machine learning-based redefinition in China

Zain Ul Abideen and Kai Wu

The impact of public data openness on firm employment: A quasi-natural experiment from China

Meixu Ren, Hailan Xia and Senyang Zhao

Comparing the effectiveness of China’s macroprudential and capital controls policies: Volatility and welfare approach

Zhaojun Sun and Haoye Liang

A study of the impact of carbon accounting information disclosure on corporate ambidextrous innovation

Deliang Zhou, Dingyin Zhang and Ziqian Wang

A stakeholder-oriented evaluation system for corporate carbon information disclosure: Evidence on its impact on debt contracting

Hui Liu, Lulu Ye, Ming Jia and Yuan Yuan

The role of loan forbearance in the recovery of financially distressed firms

Rinaldo Artes, Klenio Barbosa, Cejana Pucci and Adalto Gonçalves

Financial literacy and saving behaviour among Malaysian university students

Azhar Mohamad and Husna Jamaludin

Anticipated vs. realized stock price reactions to M&A announcements: The effect of investor beliefs on abnormal returns and event study inferences

Jörg Prokop and Christopher Wilksen

The surprising power of the pre-IPO grey market to mitigate information asymmetry and winner’s curse for retail investors

Sachin Mathur, Mayank Joshipura and Raman Kumar

Monetary policy and maturity mismatch of investment and financing in an emerging market

Japan Huynh

Spatial asymmetries in green finance: Central bias in urban carbon mitigation across Chinese cities

Langang Feng, Lixia Shen, Jin Hu, Muhammad Irfan and Kaiya Wu

Navigating systemic shocks: Does financial literacy empower rural households to protect wealth?

Chuna Chen, Dongju Li and Jiaxing Wang

When safe havens fail: Time-scale dependent hedging dynamics in commodity-dependent emerging markets

Abdullah AlGhazali, Rim El Khoury, Walid Mensi, Remzi Gök and Khamis Hamed Al-Yahyaee

Volume 108, issue C, 2026

Extension of marginal conditional stochastic dominance to prospect and Markowitz stochastic dominance rules

Kazuki Nakamura

Carbon risk reconsidered: Time variation, regional differences, and the role of oil prices

Mathis Leifhelm

Corporate tax cuts, the cost of capital, and economic activity

Alessandro Piergallini

Buy-sell imbalances on and around round numbers in cryptocurrencies

SeungOh Han and Albert Lee

Market reactions to legal risk in banks: Evidence from the Swiss franc mortgage crisis in Poland

Łukasz Goczek, Aleksander Kaczmarek and Piotr Krzak

Post-IPO venture capital and corporate labor investment: Evidence from China

Wenfei Li, Guiquan Lin and Chufen Chen

The windfall-income donation norm

Michalis Drouvelis, Adam Isen and Benjamin M. Marx

Heterogeneous shareholders, equity incentives and earnings quality: Evidence from China’s mixed-ownership reforms

Liang Wang, Xiaohan Wang and Shuang Liu

Does informatization improve firms’ export performance? A quasi-natural experiment based on the “Pilot zones for the integration of informatization and industrialization” in China

Zhen Li, Fan Chai, Jinrong Han and Junyi Gu

Analytically pricing commodity futures options within a multi-layered stochastic financialization framework

Wenting Chen, Fangzhao Zhou, Wei Xu and Xin-Jiang He

Oil price shocks and stock market bubble-risk indicators

Elie Bouri, Ufuk Can, Oguzhan Cepni and Rangan Gupta

Policy discontinuity and the efficiency of environmental investment: Evidence from China

Kai Wan and Xiaolin Yu

Corporate venture capital and CEO risk incentives: Evidence from venture capital-backed initial public offerings

Yun-Chi Lee and Robin K. Chou

Volume 107, issue C, 2026

Do prudential regulations affect banking inclusion?

Mandira Sarma

The role of the central bank in managing expectations, backing up public debt, and controlling public deficits

Fernando Perera-Tallo

From time-series to cross-sectional volatility scaling: Extending volatility management to sector rotation

Chih-Hsiang Hsu and Donald Lien

Does having multiple insiders on boards enhance the effectiveness of independent directors?

Sharif Mazumder and Ramesh P. Rao

Portfolio optimization with mean-variance-spectrum preferences

Louis R. Piccotti

Dynamic connectedness across U.S. state-level regional equity markets: The role of time-varying common and idiosyncratic factors

Massimiliano Caporin, Oguzhan Cepni, Rangan Gupta and Bertrand B. Maillet

The long run effects of military service on localities: Evidence from 9/11 attacks

John Anders and Craig Carpenter

Narrow stablecoins: Redemption, runs, and risk

Zane Mullins

Beyond the trade-off: The environmental and economic co-benefits of China’s targeted poverty alleviation

Yuntao Wu, Jin Hu, Meng Cai, Muhammad Irfan and Kaiya Wu

Trade liberalization, destination-specific export expansion and product quality upgrading: New evidence from export quota removal of textile and clothing industries in China

Xi Lin, Bibo Bai and Xinheng Liu

Democratic governance and equity valuations

Bahram Adrangi, Yosef Bonaparte, Arjun Chatrath and Rohan Christie David

Corporate data assets and ESG performance: Evidence from China

Kaiqiang Chen and Jiawen Xu

Banks’ asset adjustments under economic policy uncertainty: Effects on risk and profitability

Junming Hsu, Jing-Xian Wang and Chieh Wen Kuo Chen

Managerial risk aversion and corporate risk-taking

Naoshi Ikeda, Kotaro Inoue and Takashi Yamasaki

Procyclicality of loan loss provisions in China and the US

Li Yuanjia and Gao Liangmou

Dynamic contagion of local government debt risk: Evidence from Chinese provinces

Zebin Liu and Tesfaye Haile

When mortgage rates bite: Regime-dependent housing responses to monetary policy shocks

MeiChi Huang

Banks, stock markets, and China’s regional economic growth

Guangdong Xu and Binwei Gui

Land supply, fiscal reforms, and debt dynamics in urban China

Chaojun Chen and Yihua Yu

The impact of corporate debt maturity dispersion on corporate credit spreads: Evidence from China

Yanyi Ye, Haohan Bao and Bu Xu

On-chain flows, off-chain volatility: Tokenized real assets in financial markets

Ihlas Sovbetov

Exploring financial and governance drivers of environmental noncompliance

Vishaal Baulkaran, Carlos Jabbour and Isaac Otchere

Predicting carbon futures volatility: New evidence based on topological features of crude oil, natural gas and climate risk indicators

Gaoxiu Qiao, Yaxuan Wang, Chao Liang and Xiaobin Li

The impact of wildfires on US insurance firms: Evidence for the costliest wildfire in California

António Miguel Martins, Bruno Albuquerque, Luís Sardinha and Nuno Moutinho