International Review of Economics & Finance

1992 - 2026

Current editor(s): H. Beladi and C. Chen

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Volume 109, issue C, 2026

Green banking and sustainable development: Exploring energy efficiency, environmental policy, and financial resilience in emerging economies

Meng Ding and Cai Li

The interactive impact of R&D with enterprise conditions on structural changes

Abolfazl Shahabadi and Haneih Samari

Extreme quantile connectedness across shipping freights, agriculture and energy commodities

Sang Hoon Kang, Mobeen Ur Rehman, Neeraj Nautiyal, Noha Alessa and Xuan Vinh Vo

Digital transformation and the cost of equity capital: Evidence from China

Wei Wang and Meilu Sun

Environmental policy stringency and corporate financial risk: Are politically connected firms better off?

Hasanul Banna, Ahmed W. Alam, Ashupta Farjana, Ashraful Alam and Reza Houston

Combining green finance and digital finance to promote urban energy efficiency through innovation and policy regulation

Mujahid Bilal Khan, SongSheng Chen, Ridvan Karacan and Nawal Abdalla Adam

Art as an alternative asset in China: Portfolio diversification and macroeconomic conditions

Yue Yuan and Yang Zhang

The impact and prediction of green talents on China economic development

Ming Lei

Asymmetric and regime-dependent connectedness between climate policy uncertainty and Islamic sectoral equities in GCC markets: Implication for portfolio hedging

Kingsley I. Okere, Stephen Kelechi Dimnwobi and Mamdouh Abdulaziz Saleh AL-Faryan

Quantitative easing impact on financial wealth distribution

Richard S Hatfield, Imran Hussain Shah and Svetlana Makarova

Chronicle of a debt foretold: Green debt strategies in a fossil fuel-dependent economy

Morgane Gonon, Antoine Godin, Louis Daumas, Jeffrey Althouse and Romain Svartzman

Can environmental policy stringency reduce stock market risk spillovers? Cross-country evidence based on time-frequency networks

Lihui Tian, Haifeng Wu and Qichang Xie

Corporate performance effects of digital empowerment under the Belt and Road Initiative: Evidence from M&A performance and green performance

Xiaoli Zhang, Zilin Wang, Dan Liu and Shengzhe Wang

Dual nature of spillovers: Contemporary and lagged connectedness in oil shocks, geopolitical risk, and EURO financial stress

Mohammad Enamul Hoque, Asma Houcine, Mabruk Billah and Muhammad Abubakr Naeem

Liquidity, scarcity, and long-run anchoring in Bitcoin demand (2010–2025)

Diego R. Llanos, Javier Perote and José D. Vicente-Lorente

The impact of mixed-ownership reform on exploitative innovation in state-owned enterprises

Zhichao Yang, Canhua Kang, Yanlin Sun, Zongyi Yin and Erhao Xu

Can digital government reform enhance commercial credit financing? Mechanisms and heterogeneity analysis

Yijing Huang, Zongyu Xu, and Xinguo Lu

The bright side of bank liquidity creation for financial stability: Evidence from China

Jiawei Guo, Frank Yong Wang and Jiwen Chai

Digital-intelligent technologies, green ambidextrous innovation, and green transformation in manufacturing enterprises

Mengmeng Liu and Shuili Yang

Economic and regulatory drivers of consumer-centric product innovation: A case study of Chinese smartphones in Nigeria

Moses Olabhele Esangbedo

Development of service trade under the background of global value chain digitalization

Zhuihui Yi, Wurong Li and Chenyu Feng

Unexpected effects of green finance on corporate green innovation bubble

Ziyang Zheng, Zhongxu Ji, Chaoyi Huang and Tao Wang

How should high-leverage enterprises smoothly deleverage? — An empirical and theoretical study based on China's "three red lines" policy

Wei Fan and Shuo Guo

The green dividend of data: How data assetization fuels corporate continuous innovation through financial derisking and AI integration

Ruonan Fang and Anping Li

Digital financial usage and agricultural scale operation performance in China

Yunping Hao and Wei Zhao

Agricultural socialized services, agricultural modernization, and agricultural carbon emission reduction: Evidence from China

Fang Bo

From “Lemon markets" to digital trust: How blockchain reshapes carbon trading and incentivizes cleaner production— evidence from agent-based simulation and global case studies

Lei Lei, Fei Xue, Jinxin Zhang, Malan Huang and Caibo Liu

The impact of local government debt on leverage adjustment speed: Evidence from China

Haiming Liu and Cuiyan Zhang

Scale-dependent capital flows and systemic risk: Multifractal evidence from Mainland China–Hong Kong Stock Connect

Can-Zhong Yao and Hao Jiang

Spatiotemporal dynamics and drivers of green and low-carbon innovation efficiency: evidence from 280 Chinese cities using explainable machine learning

Ding Fan

Equity market liberalization and volatility spillovers: Evidence from “Mainland China–Hong Kong Stock Connect”

Zhuofan Hao, Qiqian Li and Ti Zhou

Policy effectiveness, market design, and innovation under structural transformation

Taoxiong Liu and Huolan Cheng

Contagion risks of air pollution control policies on the China energy stock returns

Cody Yu-Ling Hsiao, Baiyu Liu, Yi-Bin Chiu and Chin Man Chui

Corporate financialization and employment in China's manufacturing industry — A solution or an additional burden

Shuya Pang, Bo Zhang, Xiaolin Zhang and Xuxin Wen

Silver economy, population aging, and regional economic resilience

Fujuan Zhang and Zixuan Yu

Energy technology innovation policies and sectoral performance in China: Evidence from financial market transmission

Xinyang Wei, Yuzhen Ma, Xuefeng Shao, Sheng Zhou and Ni Sheng

Greenwashing and bank credit risk: Fresh evidence on the role of board diversity across euro area banks

Naif Alsagr and Nicholas Apergis

ESG and systemic risk in financial networks: High- vs. low-rated portfolios in Europe

Pilar Gargallo, Luis Lample, Jesús Miguel and Manuel Salvador

Generative AI–based readability as a measure of disclosure quality: Evidence from ESG rating divergence

Xincan Qiu, Xiaolin Gan and Chenglong Zhang

Regional financial dynamics: Implied volatility connectedness among equity, currency, gold, and sovereign CDS across the Americas, EMEA, and APAC

Satyaban Sahoo and Pragadeesh Srinivasan

Comparative analysis of volatility proxies and regime-based asset allocation

Wanderci Alves Bitencourt and Robert Aldo Iquiapaza

Corrigendum to “Invisible assets, visible power: How does intangible capital affect firm markups?” [Int. Rev. Econ. Finance 108 (2026) 105299]

Wen Yue and Jingyan Zhao

The impact of geopolitical risk on global NFT investor attention

Ya-Wei Yang, Zih-Ying Lin and Yun-Chen Tang

Market-dependent momentum and institutional ownership

Ming Wu and Kwangsoo Ko

Exploring heterogeneity in the impact of financial inclusion on MSMEs’ performance

Miao He, Ye Bai, Fan Liu and Michalis P. Stamatogiannis

Family relationships, prosocial preferences, and family charitable giving: an empirical study of altruistic resource allocation in Chinese families

Chunyan Li and Jinsi Liu

From displacement to belonging: Economic effects of the Three Gorges Migration in China

Sisi Yin, Xi Sun, Yunshu Gao and Yipei Liu

Financial risk prevention against foreign interest rate and demand shocks under sticky leverage

Ning Guo

Can financial regulatory intensity promote shadow banking growth? Evidence from CNRDS panel data

Chengwei Ying, Xiongyi Li and Anlu Shi

Digital technological innovation, economic agglomeration, and digital business environment: spatial effects and mechanisms based on institutional logic theory

Diandian Zhang and Xinling Zhang

Mitigating the innovation constraints of supply chain concentration: An operational resilience perspective

Xingjian Hong, Lingrui Li and Yingbo Wen

Shadow leverage and corporate downside risk: Evidence from investment crashes

Nargis Sultana and Fahad Zeya

Stock market listing and real earnings management in a debt-oriented country: Evidence from Japan

Yuya Koga and Tomoyasu Yamaguchi

Can efforts to break down the “information silos” improve business performance? — Verification from the intelligence information technology

Yang Guan, Xin Zhang and Kaike Wang

National culture and environmental management activism of microfinance institutions

Shahadat Hossain, Mohammed Shamim Uddin Khan, Md Mosharraf Hossain and Lee A. Smales

Risk propagation in multi-layer supply chain networks of international semiconductor trade: The influence of core countries

Xianduo Zhu, Licheng Qiu and Yongli Zhang

The role of historical informal institutions: Merchant-culture exposure and corporate green innovation in China

Sensheng Li and Houjian Li

Outward foreign direct investment and green energy penetration: Evidence from Global South economies

Muhammad Adnan Bashir, Mustafa Tevfik Kartal, Li Qing, Zuchang Zhong and Ummara Razi

How geopolitical risks shape China's investment Links along the Belt and Road? A regional analysis

Wei Hu, Yue Shan, Ziran Jiang, Xinyi Zhu, Cansong Li, Yuli Liu, Haidong Yao and Yanming Zhang

The ripple effect: How fake news shapes stock market behavior

Elena Fedorova, Svetlana Ledyaeva and Valentin Stepanov

Disagreement in ESG ratings and restatements: Evidence of greenwashing among European Auditees

Iman Harymawan, Suham Cahyono, Abdulaziz Alzeban and Thejo Jose

Reassessing the market impact of cyber incidents: A bias-adjusted event study approach

Loïc Maréchal, Daniel Celeny, Evgueni Rousselot, Alain Mermoud and Mathias Humbert

The green boost: ESG and supply chain green governance

Wei Jiang

Market uncertainty and the short duration premium in the Japanese stock market

Yuichi Fukuta and Akiko Yamane

Green credit interest subsidies and corporate biodiversity attention: Insights from financial and fiscal coordination

Jiangming Ma, Yating Que, Di Gao and Bingjian Zhao

Analyzing climate risks in Chinese bank portfolios: A dynamic GMM perspective

Hatem Brik and Amal Essayem

The information transfer resulting from the frequency and market valuation of share repurchase announcements

Ni-Yun Chen and Chi-Chun Liu

The spillover effects of the Federal Reserve's monetary policy, the transmission of bank credit channels, and Chinese asset prices

Liang Wang and Yuxin Wang

The protective effect and boundary conditions of CEO social networks: Evidence from corporate climate risk

Jian Du, Rongda Cui, Yi Luo, Xinting Zhen and Yang Liu

Stacking green: Environmental pilot accumulation, innovation pathways, and firm carbon efficiency

Tianhao Zhao and Longlong Duan

Reframing biodiversity finance towards the SDGs: A systematic literature review and future directions with implications for emerging economy contexts

Mc Sarath Chandran, Renju Chandran and Krishnashree Achuthan

Supply chain risk and precautionary liquidity: How customer concentration shapes corporate cash holdings in China

Yuhan Li and Mengjie Zhang

Effect of risk management through reinsurance in estimating the target capital structure

Xiaoyi Li and Yung-Ming Shiu

Climate policy uncertainty and asset–liability maturity mismatch

Min Hong, Saijun Wu, Yuqiong Fan and Ling Meng

Variational Autoencoder Asset Pricing models with economic restrictions

Xing Chen, Jun Wang and Rui Huang

Corporate strategy, stakeholder pressures, and operational inefficiency: A panel quantile-based analysis of global airlines

Béchir Ben Lahouel, Lotfi Taleb and Emmanuelle Dubocage

Investor-pays ratings and credit risk information: Evidence from China bond rating

Pu Lu, Yuan Yao, Yan Li and Xiong Xiong

Eurozone sectoral inflation networks

David Gabauer, Alexis Stenfors and Valerio Vinco

Volatility structure and risk spillover of natural gas, crude oil, new energy vehicle, and carbon markets in China — The role of climate policy uncertainty

Jingliang Huai, Cheung, Adrian (Wai Kong), Wanlin Yan and Bin Wang

Bank risk-taking and a firm's default risk

Meg Adachi-Sato and Chaiporn Vithessonthi

Specialization in bank lending and total factor productivity of enterprises in China

Yuan Qin and Yilei Liang

Resilience, tail-risk and connectedness mechanism: An inter-industry perspective

Jiefei Huang, Zishuo Wang, Xia Zhao and Jiani Zuo

Evolution of the research of cryptocurrency, social media, and its influence on the crypto market: A bibliometric and content analysis

Vilija Aleknevičienė and Rugilė Gudaitienė

Impact of domestic digital services trade barriers on their export efficiency: Empirical evidence from the “Digital Silk Road”

Yongcai Han, Zhaofan Tan, Cancheng Hu and Bingbing Dai

Local government debt quota management and key digital technology innovation of specialized, refined, characteristic, and innovative (SRCI) enterprises

Dazhi Yue, Kai Zhao, Jing Liu and Xiaohe Chen

Overpaid CEO and corporate innovation efficiency: Evidence from China

Yaru Shi, Huan Dou and Yingxuan Liu

Circular economy-related resource efficiency, Green innovation capacity, and sustainable economic growth in the East African Community: Evidence from panel econometric analysis (2000-2024)

Teklu Gebretsadik and Mitiku Ayele

A three-way game analysis of technology-to-goodness-driven artificial intelligence marketization and application strategy

Mengfen Luo, Tianyu Li and Jiarui Hou

The impact of market segmentation on carbon emission efficiency: Evidence from China

Huiping Wang and Yiyang Li

How corporate low-carbon transition impacts stock price crash risk: Evidence from China's A-share listed companies

Daoping Wang, Mingxi Zhao and Xinyan Shen

The impact of economic uncertainty on household portfolio choice: Evidence from China

Zhuo Huang, Ying Tan, Zi Yang and Xun Zhang

Background risk perception and entrepreneurial entry: The mediating roles of optimism, opportunity recognition, and long-term orientation

Fei Hao, Xingye Jin, Tao Li and Zhengrong Li

From enablement to entrapment: The inverted U-shaped effect of over-digitalization on green innovation

Wenli Zhao and Liuyang Ren

Carbon pricing and asymmetric growth: Evidence from the EU's carbon border adjustment mechanism

Hongbo Liu, Xinyong Du and Chen Wu

Can public debt drive the development of advanced productive forces? Evidence from AI development

Xiaoxian Li, Hongcai Guo and Tongzhou Liu

Sentiment-based stock price prediction in developing countries: Evidence from Iran

Eshagh Jahangiri and Marco Corazza

The impact of corporate climate change exposure and ESG media coverage on renewable energy consumption

Rudresh Pandey, Frank Asche and Neelam Rani

Bank liquidity hoarding and corporate investment: Evidence from Chinese listed firms

Konglin Ke and Haohao Rui

Betting on acquisitions: Local gambling culture and corporate M&As

Weiping Li, Hanfang Zhang and Jingjing Xia

Does biodiversity risk affect corporate green innovation? — Evidence from China

Tianlei Pi, Yuhan Zhou, Linke Jiao and Jin Shi

Interplay between internal control and tax regulation mechanisms on corporate tax avoidance

Dan Liu and Juntao Chen

Executive pay gap, corporate financialization, and stock price crash risk

Weixiang Sun

Clean-energy news innovations and short-horizon repricing in transition-themed ETFs

Cristiana Tudor

Systemic economic importance and robustness to trade shocks under uncertainty

Anna Yeganeh Hillingdon and Pasquale Scaramozzino

The nexus between the institutional quality and trade dynamics: testing the EU-Japan Economic Partnership

Liviu-George Maha, Stefan-Catalin Topliceanu and Elena-Daniela Viorică

Protectionist trade policy and sectoral stock market reactions: Evidence from Trump's second term

Lucie Jahodova and Jakub Sejna

Audit committee gender diversity and ESG disclosure: Evidence from the UK

Naila Amara, Abdulrahman Alomair and Abdulaziz S. Al Naim

AI for financial fraud detection: Empirical evidence from benchmarking deep learning architectures to case studies

Wesley Leeroy, Gordon C. Leeroy and Eugene Lee

An expanded conceptualisation of vulnerability to financial crises: Research on emerging markets

Sebastian Petric

Can digital transformation promote technological diversification?

Libin Guo, Kang Liu and Yi Ren

Exploring core enterprises’ green development diffusion mechanisms

Bin Li, Hanxuan Shi and Zhengping Zhang

Review on the applications of Kalman filter class approaches to term structure estimation of interest rates

Shu Wu, Lina Zhang and Rende Li

Economic status and well-being towards the end of COVID-19 policies in the United States and China

Donald Lien, Jaimie W. Lien, Wenhao Zhang and Jie Zheng

Sustainability uncertainty and stock prices: Conditional effects across regulatory regimes

Md Khaled Hossain Rafi

Investor-Enterprise Interactions and Corporate Risk-Taking

Huan Liu, Yanling Jiang, Yiwei Kan, Dongmin Kong and Wu, Ji (George)

The impediment of information: Extreme rainfall and crash risk

Zhuoyang Lyu, Haiqiang Chen, Yining Chen and Siyuan Zhao

The role of renewable energy consumption and institutional quality level in promoting environmental sustainability among developing countries: A dual pathway to unveil environmental Kuznets curve (EKC) dynamics

Jerry Ogutu Sumba

Re-examining the effectiveness of command-and-control environmental regulation on green innovation: Evidence from a quasi-natural experiment in the Beijing-Tianjin-Hebei region

Shuai Hong, Guo Li and Tianzun Wang

The impact of bank fintech on corporate employment

Le Wang and Shiguang Peng

How much financial flexibility is optimal? A closed-form capital structure model for investment-grade firms

Vladimir Manaev

Impact of green finance pilot reforms on corporate carbon emissions: A study based on evolutionary game theory and firm-level evidence

Shiqi Cao and Janqiu Liu

The impact of FOMC monetary policy reports on the forecasts of Taiwan's economic variables: Sentiment analysis through text mining

Mehmet Asutay and Wen Che Chien

Supply chain finance and firm employment: Evidence from China

Lu Liu, Xin Li and Runze Ling

Dynamic and intelligent valuation of data assets based on interval-parameterized deep Q-network (IP-DQN): Integrating traditional methods and empirical validation

Jiajun Shen, Yan Gong, Yang Xu, Zhinan Li and Lina Liu

The role of big data analytics in financial fraud detection: A systematic literature review

Dedik Nur Triyanto and Syaiful Ali

Digital accounts and employment in Taiwan's banking sector: Disruption or realignment?

Yi-Shuan Chen

How do competition and regulation impact bank efficiency in emerging economies? A Comparative Analysis for conventional and Islamic Banks

Diyan Lestari, Aelee Jun and Shiguang Ma

Government guidance funds, vertical fiscal imbalance, and regional green innovation

Pengxiang Huang and Xiang Huang

Big data technology and new quality productive forces: Evidence from national big data comprehensive pilot zones in China

Yue Liu, Xinshu Gong and Boyuan Wang

How does controlling shareholders’ share pledging affect green investment? Evidence from Chinese manufacturing firms

Yuqiong Fan, Syaima Adznan, Mohd Hasimi Yaacob, Zaini Embong and Wei Yuan

Option flow dispersion and price discovery: Evidence from China's ETF options market

Ching-Chi Hsu, Hong-Gia Huang and Wei-Che Tsai

IPO Overfunding and investment and financing term mismatch: An empirical study based on the moderating effect of ownership concentration

Tianchen Wang, Tianyi Zhang and Min Hua

Digital microloan based on mobile payment and financial inclusion: Evidence from micro merchants

Wei Wang, Zhugang Zhang and Lin Li

The impact of sustainable practices on firm and portfolio performance: A systematic literature review

Imane Boukhaled, Noureddine Kouaissah and Mohammed Benlemlih

In talent we trust: Cybersecurity risk and within-firm pay gap

Zhaohui Zhu and Zijian He

Asymmetric and time–frequency risk spillovers from European carbon allowance futures contracts to green finance: Toward a global sustainable financial system

Moslem Ansarinasab

Corrigendum to “Chronicle of a debt foretold: Green debt strategies in a fossil fuel-dependent economy” [International Review of Economics & Finance 109 (2026) 105301]

Morgane Gonon, Antoine Godin, Louis Daumas, Jeffrey Althouse and Romain Svartzman

Real estate investment and household financial portfolio choice under financial fragility

Yasai Liu, Jianshuang Fan, Yufeng Zhu and Wenkai Yang

How does ESG responsibility fulfillment reduce resource misallocation in manufacturing? Evidence from Chinese listed firms

Chunhai Tao, Hao Zhou, Siqi Zhong and Yuqiu Dong

Asset prices, growth and endogenous wage inertia

Joseph D. Alba, Ammu George and Lorant Kaszab

The silent expansion: How does AI change labor market power?

Guanyu Guo, Yajing Hu, Wei Wang and Zhuoyu Yan

Cost of debt for private firms revisited: voluntary audits as a reflection of risk

Riste Ichev, Jernej Koren, Urska Kosi, Katarina Sitar Sustar and Aljosa Valentincic

Agricultural insurance, premium subsidies and chemical inputs: Evidence from China

Pengfeng Zhang, Haiying Gu and Yang Chen

Sentiment and the Chinese stock return: The case of the Russia-Ukraine conflict

Cheng Li, Huifang Zeng and Haozhong Mo

Artificial intelligence, green finance, and global economic cycles: Analyzing the role of AI, BRI, and the Paris Agreement

Hu Yang, Yuping Hu and Saddam Hussain

The impact of patent insurance on firms' ambidextrous innovation: A quasi-natural experiment based on the patent insurance pilot in China

Meng Li and Chengguo Zhao

Institutional co-ownership, corporate internal control and ESG performance

Xiao Li

Climate policy coordination and macroeconomic risks: Cross-border carbon spillovers, global value chains, and climate scenario analysis

Bok-Keun Yu and Young-Han Kim

A jump and noise robust kernel based estimator of quarticity for high frequency data

Sudeep R. Bapat

Performance of firms using COVID-19-related support policies: Ex-post evaluation

Masayuki Morikawa

National commercial paper market integration and labor income share: Evidence from Chinese listed firms

Mengfei Wan

Climate information disclosure, systemic risk and corporate green transformation

Li Wang, Hanyu Zhou and Yanan Wang

When systems strain: Climate uncertainty and the pass-through of global shocks

Moustapha Badran

Foreign direct investment during financial crises: Evidence from Korea

Junyong Lee and Frederick Dongchuhl Oh

Oil supply shocks and corporate green innovation: Evidence from Chinese manufacturing firms

Lang Li, Nengsheng Luo, Xiaohan Yan and Xuan Su

Air pollution risk and corporate relative strategic emphasis: A quasi-natural experiment based on Air Ten Articles in China

Xi Wu and Yudong Wang

Independent directors’ reputation incentives and corporate risk-taking

Mohammad Alipour, Arash Ghorbani, Fakhroddin MohammadRezaei, Zabihollah Rezaee and Mostafa Ghanbari

Non-linear relationship between digital finance and urban ecological resilience in China

Xiu-Min Chen, Ke-Liang Wang, Yun-He Cheng and Zhuang Miao