International Review of Economics & Finance

1992 - 2025

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

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Volume 85, issue C, 2023

SOEs reform and capital efficiency in China: A structural analysis pp. 1-20

Le Tang

Does globalization affect credit market controls? pp. 21-43

Jonathan Batten, Mehmet Bilgin, Ender Demir and Giray Gözgör

Can the introduction of stock index futures stabilize the volatility of the stock market? Evidence from the Chinese stock market pp. 44-58

Shengnan Liu, Linshan Yang and Rongbao Gu

Industrial linkage and clustered regional business cycles in China pp. 59-72

Xiaoyu Wang, Yanlin Sun and Bin Peng

Management efficiency uncertainty and its implications for bondholders pp. 73-92

Tsung-Kang Chen, Yijie Tseng, Yu-Shun Hung and Mei-Ling Huang

Economic policy uncertainty and incentive to smooth earnings pp. 93-106

Yogesh Chauhan and Manju Jaiswall

Hedging performance using google Trends–Evidence from the indian forex options market pp. 107-123

Tsung-Li Chi, Hung-Tsen Liu and Chia-Chien Chang

The effect of political and bureaucratic regime changes on Australia's real interest rate pp. 124-136

Ankita Mishra, Imad A. Moosa, George B. Tawadros and Vinod Mishra

Impact of financial environment on household risk financial asset selection: A micro perspective pp. 137-145

Gan Xiaoli, Zhang Xiaoyi, Ma Xiaoyang and Fahad Khalid

Internal labor markets and corporate innovation: Evidence from Korean chaebols pp. 146-162

Kyounghun Lee, Frederick Dongchuhl Oh, Donglim Shin and Heejin Yoon

Short selling and SME irregular CEO succession: Witnessing the moderating role of earnings management pp. 163-173

Yezhou Sha, Syed Ghulam Meran Shah and Muddassar Sarfraz

Nonlinearity in the cross-section of stock returns: Evidence from China pp. 174-205

Jianqiu Wang, Ke Wu, Guoshi Tong and Dongxu Chen

An indicator of monetary bias for emerging and partially dollarized economies: The case of Uruguay pp. 206-219

Conrado Brum-Civelli and Alfredo Garcia-Hiernaux

A hybrid stochastic volatility model in a Lévy market pp. 220-235

Youssef El-Khatib, Stephane Goutte, Zororo S. Makumbe and Josep Vives

An analysis of the return–volume relationship in decentralised finance (DeFi) pp. 236-254

Jeffrey Chu, Stephen Chan and Yuanyuan Zhang

Can financial inclusion affect energy poverty in China? Evidence from a spatial econometric analysis pp. 255-269

Xiong Wang, Wanping Yang, Xiaohang Ren and Zudi Lu

Immigration and entrepreneurship: Is there a uniform relationship across countries? pp. 270-285

Nirosha Hewa Wellalage, Viviana Fernandez and Trang Bui

Optimal liquidity allocation in an equity network pp. 286-294

Bo Jiang and Hector Tzavellas

Dynamic lead–lag relationship between Chinese carbon emission trading and stock markets under exogenous shocks pp. 295-305

Zhang-HangJian Chen, Fei Ren, Ming-Yuan Yang, Feng-Zhi Lu and Sai-Ping Li

Are Chinese B-shares dead? An analysis of price limits on AB-shares on the Shanghai and Shenzhen Stock Exchanges pp. 306-315

Chris Adcock, Caiwei Ye, Shuxing Yin and Dalu Zhang

Financial distress and jump tail risk: Evidence from China's listed companies pp. 316-336

Xiaoqun Liu, Yuchen Zhang, Mengqiao Tian and Youcong Chao

Corporate ESG performance and trade credit financing – Evidence from China pp. 337-351

Chunhua Luo, Dianlong Wei and Feng He

How does corporate ESG performance affect bond credit spreads: Empirical evidence from China pp. 352-371

Yonghui Lian, Tao Ye, Yiyang Zhang and Lin Zhang

Political connection and M&A performance: Evidence from China pp. 372-389

Sanjukta Brahma, Jing Zhang, Agyenim Boateng and Chioma Nwafor

Does central bank communication on financial stability work? ——An empirical study based on Chinese stock market pp. 390-407

Xiuli Du, Jinfeng Cheng, Degao Zhu and Mengyue Xing

Analyzing a dynamic relation between RMB exchange rate onshore and offshore during the extreme market conditions pp. 408-417

Genhua Hu, Xiangjin Wang and Hong Qiu

Cryptocurrencies versus environmentally sustainable assets: Does a perfect hedge exist? pp. 418-431

Zaheer Anwer, Saqib Farid, Ashraf Khan and Noureddine Benlagha

What drives the cross-border spillover of climate transition risks? Evidence from global stock markets pp. 432-447

Gabriel Shui Tang Wu and Wilson Tsz Shing Wan

Debt finance and economic activity in the euro-area: evidence on asymmetric and maturity effects pp. 448-472

Kuntal Das, Logan J. Donald and Alfred Guender

Speculation and clarification announcements on stock price fluctuations: Why are rumours plausible and hard to clarify? pp. 473-487

Qi Shi, Yong Ye and Gang Zhao

The effect of digital transformation on real economy enterprises’ total factor productivity pp. 488-501

Yiran Cheng, Xiaorui Zhou and Yongjian Li

How does financial development change the effect of the bank lending channel of monetary policy in developing countries?—Evidence from China pp. 502-519

Shuai Li, Shuwei Zhan, Shurui Zhan and Minghua Zhan

The impacts of oil price volatility on financial stress: Is the COVID-19 period different? pp. 520-532

Xin Sheng, Won Joong Kim, Rangan Gupta and Qiang Ji

Agency costs of customer concentration pp. 533-558

Taeyeon Kim, Hyun-Dong Kim and Kwangwoo Park

What impacts foreign capital flows to China's stock markets? Evidence from financial risk spillover networks pp. 559-577

Hao Xu and Songsong Li

Analysing SME investment, financing constraints and its determinants. A stochastic frontier approach pp. 578-588

Maria Martinez-Cillero, Martina Lawless and Conor O'Toole

What do we know about meme stocks? A bibliometric and systematic review, current streams, developments, and directions for future research pp. 589-602

Haitham Nobanee and Nejla Ould Daoud Ellili

The political affiliation of central bankers and government debt: Evidence from Africa pp. 603-620

Christine Strong and Constant L. Yayi

The effect of dividend smoothing on bond spreads: Evidence from Japan pp. 621-637

Yasuharu Aoki

Does innovation save more energy? Evidence from Chinese Firms pp. 638-646

Jingyi Gao and Yuanming Ren

Is there an expiration effect in the bitcoin market? pp. 647-663

N. Blasco, P. Corredor and N. Satrústegui

Pension gap between the Chinese public and nonpublic sectors： evidence in the context of the integration of dual-track pension schemes pp. 664-688

Wen Wang, Hongyu Shi and Qiang Li

Can rural health insurance coverage improve educational attainment? Evidence from new cooperative medical scheme in China pp. 689-704

Wei Zou and Bo Cheng

Dynamic co-movement between economic growth and language: A new perspective of technological progress pp. 705-721

Cuiui Gang, Juanwei Li, Haiqing Hu and Wei Wei

Do firm characteristics in their local context promote corporate ecological and social responsibility? Evidence from a multi-hierarchical analysis pp. 722-743

Vu Van Huong, Yong Mai, Bui Duc Hau, Ly Kim Cuong and Le Van Dao

Identifying diversifiers, hedges, and safe havens among Asia Pacific equity markets during COVID-19: New results for ongoing portfolio allocation pp. 744-792

Fahad Ali, Ahmet Sensoy and John W. Goodell

The interrelationship between bank capital and liquidity creation: A non-linear perspective from the Asia-Pacific region pp. 793-820

Juhi Gupta, Smita Kashiramka, Kim Cuong Ly and Ha Pham

Volume 84, issue C, 2023

Financial constraint, cross-sectoral spillover and systemic risk in China pp. 1-11

Bohui Wen, ShaSha Bi, Ming Yuan and Jing Hao

Stand in the wind: Market power reformation during uncertain periods pp. 12-28

Heng Wang, Siqi Wei and Xiaoyang Zhu

Cryptocurrency spectrum and 2020 pandemic: Contagion analysis pp. 29-38

David Okorie and Boqiang Lin

Bilateral capital flows: Transaction patterns and gravity pp. 39-54

Rogelio Mercado

Risk spillover from international financial markets and China's macro-economy: A MIDAS-CoVaR-QR model pp. 55-69

Lu Yang, Xue Cui, Lei Yang, Shigeyuki Hamori and Xiaojing Cai

US trade policy uncertainty on Chinese agricultural imports and exports: An aggregate and product-level analysis pp. 70-83

Mingzhe Yu, Jiachuan Fan, Haijun Wang and Jie Wang

The role of local institutions in cooperative banks’ efficiency. The case of Italy pp. 84-103

Mariarosaria Agostino, Sabrina Ruberto and Francesco Trivieri

Interest margins, lending rates and bank productivity among Chinese provinces pp. 104-127

Enzo Dia, Lunan Jiang, Lorenzo Menna and Lin Zhang

Travelling for public goods, neighborhood effect and spatial stratification pp. 128-139

Xiaozhong Yang and Cheng Zhang

Institutions and the book-to-market effect: The role of investment horizon pp. 140-153

Muhammad Sabeeh Iqbal, Aslihan Salih and Levent Akdeniz

The nexus between toxic-air pollution, health expenditure, and economic growth: An empirical study using ARDL pp. 154-166

Vishal Vyas, Kiran Mehta and Renuka Sharma

News tone, investor sentiment, and liquidity premium pp. 167-181

Jun Liu, Kai Wu and Ming Zhou

Oil market shocks and financial instability in Asian countries pp. 182-195

Leila Dagher and Fakhri J. Hasanov

The impact of network connectivity on factor exposures, asset pricing, and portfolio diversification pp. 196-223

Monica Billio, Massimiliano Caporin, Roberto Panzica and Loriana Pelizzon

Air quality index and the Chinese stock market volatility: Evidence from both market and sector indices pp. 224-239

Lihua Shen, Xinjie Lu, Toan Luu Duc Huynh and Chao Liang

To what extent do sovereign rating actions affect global equity market sectors? pp. 240-261

Irfan Ullah Sahibzada

The enrolment reform of schools and housing price: Empirical evidence from Shanghai, China pp. 262-273

Zhiyun Jin, Xingrui Wang and Bin Huang

The role of the past long-run oil price changes in stock market pp. 274-291

Shue-Jen Wu

Does corporate engagement in social responsibility affect firm innovation? The mediating role of digital transformation pp. 292-303

Bui Quang Tuyen, Do Vu Phuong Anh, Nguyen Phuong Mai and To Quang Long

Effects of oil shocks and central bank credibility on price diffusion pp. 304-317

Helder de Mendonça and Pedro Mendes Garcia

Do emerging art market segments have their own price dynamics? Evidence from the Chinese art market pp. 318-331

Fang Wang

CFOs’ facial trustworthiness and bank loan contracts pp. 332-357

Jiyuan Li, Zihui Li and Min Zhang

Southern oscillation: Great value of its trends for forecasting crude oil spot price volatility pp. 358-368

Yanran Hong, Jize Yu, Yuquan Su and Lu Wang

Does climate policy uncertainty affect Chinese stock market volatility? pp. 369-381

Zhonglu Chen, Li Zhang and Chen Weng

Local attention to employees’ rights and firm value: Evidence from China pp. 382-394

Yahui An and Xiukun Liu

Investor sentiment and the Chinese new energy stock market: A risk–return perspective pp. 395-408

Yiran Shen, Chang Liu, Xiaolei Sun and Kun Guo

Who benefits more? Shanghai-Hong Kong stock Connect—“Through Train” pp. 409-427

Ming Wu and Ki Yool Ohk

Switching cost, network externality and platform competition pp. 428-443

Wei He, Mingzhi Li and Jie Zheng

Labor protection, labor costs, and China's outward foreign direct investment pp. 444-459

Zheng Li, Shan Gao and Shunfeng Song

Non-fungible tokens (NFTs): A bibliometric and systematic review, current streams, developments, and directions for future research pp. 460-473

Haitham Nobanee and Nejla Ould Daoud Ellili

Social trust and firm innovation: Evidence from China pp. 474-493

Ding, Xiaoya (Sara), Mengmeng Guo, Yicheng Kuai and Geng Niu

A close look at wealth management products from the Buyer's perspective: Evidence from China pp. 494-506

June Cao and Guoqian Tu

Binary gravity search algorithm and support vector machine for forecasting and trading stock indices pp. 507-526

Haijun Kang, Xiangyu Zong, Jianyong Wang and Haonan Chen

Spillover effect of the RMB and Non-USD currencies after the COVID-19 pandemic: Evidence captured from 30-minute high frequency data pp. 527-552

Changrong Lu, Jiaxiang Li, Lian Liu and Fandi Yu

Tail dependence and risk spillover effects between China's carbon market and energy markets pp. 553-567

Jianing Liu, Yuanyuan Man and Xiuliang Dong

Does employees' interest matter more than shareholders’ interest in determining cash management policy? pp. 568-589

Kartick Gupta and Chandra Krishnamurti

How does exchange rate elasticity of aggregate consumption adjust currency risk price in the stock market? pp. 590-610

Qi-an Chen and Huashi Li

Financial literacy as a determinant of market participation: New evidence from China using IV-GMM pp. 611-623

Haiyang Chen, Ya Dai and David Guo

Learning with uncertain inflation target pp. 624-634

Stefano Marzioni and Guido Traficante

The balance of payments stages hypothesis: Improvements and new discoveries pp. 635-656

Haizhen Yang, Mengting Zhang, Yue Xiang and Yang Yang

The governance role of corporate party organization on innovation pp. 657-670

Nan Lin, Ao Li, Jinjun Ke, Jiayue Yuan and Han Chen

How does national culture affect the spillover effects of sovereign ratings on corporate ratings? pp. 671-691

Amy Yueh-Fang Ho, Hsin-Yu Liang and Jhih-Shan Jian

The influence of green innovation on default risk: Evidence from Europe pp. 692-710

Antonio Meles, Dario Salerno, Gabriele Sampagnaro, Vincenzo Verdoliva and Jianing Zhang

Leverage cycles, growth shocks, and sudden stops in capital inflows pp. 711-731

Lorenz Emter

Board culture and bank innovation: Evidence from China pp. 732-755

Tianlei Pi and Xiaobing Yang

Does smile help detect the UK's price leadership change after MiFID? pp. 756-769

Mike Buckle, Jing Chen, Qian Guo and Xiaoxi Li

Impact investment for sustainable development: A bibliometric analysis pp. 770-800

Samik Shome, M. Kabir Hassan, Sushma Verma and Tushar Ranjan Panigrahi

What pulls Chinese migrant workers back to the countryside? An analysis from a family concerns perspective pp. 801-812

Haitao Zhao, Jinxiong Chang and Jinxian Wang

Bank default risk propagation along supply chains: Evidence from the U.K pp. 813-831

Mariana Spatareanu, Vlad Manole, Ali Kabiri and Isabelle Roland

Industrial investments and housing prices in China pp. 832-852

Junmin Wan and Qiqi Qiu