发布求助
文献互助 智能选刊 最新文献

International Review of Economics & Finance最新文献

筛选
英文 中文
Social insurance reform and corporate environmental Investments: Evidence from China 社会保险改革与企业环境投资：来自中国的证据
IF 5.6 2区 经济学
International Review of Economics & Finance Pub Date : 2025-07-26 DOI: 10.1016/j.iref.2025.104482
Bingcheng Zou , Cheng Xu , Meiting Lu , Song Chen
{"title":"Social insurance reform and corporate environmental Investments: Evidence from China","authors":"Bingcheng Zou ,&nbsp;Cheng Xu ,&nbsp;Meiting Lu ,&nbsp;Song Chen","doi":"10.1016/j.iref.2025.104482","DOIUrl":"10.1016/j.iref.2025.104482","url":null,"abstract":"<div><div>This study examines the impact of social insurance contributions on corporate environmental investments, using a sample of 1684 firms with 18,503 firm-year observations from China's A-share listed companies between 2007 and 2019. Adopting a quasi-natural experimental design based on the 2011 Social Insurance Law in China, we employ a difference-in-differences model to analyze the effect of increased social insurance contributions. Our findings reveal that the increase in contributions prompts firms to raise their environmental investments. This effect is particularly pronounced for firms with higher labor intensity, located in regions with stricter environmental regulations, and led by politically connected CEOs. These results provide valuable insights into the role of firm-government interaction in shaping corporate environmental investment strategies.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"103 ","pages":"Article 104482"},"PeriodicalIF":5.6,"publicationDate":"2025-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144763638","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Artificial intelligence, institutional environment, and corporate green transformation: Evidence from China's resource-based sector 人工智能、制度环境与企业绿色转型：来自中国资源型行业的证据
IF 5.6 2区 经济学
International Review of Economics & Finance Pub Date : 2025-07-26 DOI: 10.1016/j.iref.2025.104473
Miao Wang , Yiduo Wang , Chao Feng
{"title":"Artificial intelligence, institutional environment, and corporate green transformation: Evidence from China's resource-based sector","authors":"Miao Wang ,&nbsp;Yiduo Wang ,&nbsp;Chao Feng","doi":"10.1016/j.iref.2025.104473","DOIUrl":"10.1016/j.iref.2025.104473","url":null,"abstract":"<div><div>Resource-based enterprises (RBEs) face mounting pressure to achieve green transformation amid intensifying environmental regulations and volatile commodity markets. While artificial intelligence technology (AIT) emerges as a potential catalyst for sustainable development, its effectiveness in facilitating green transformation among RBEs remains unclear, particularly within varying institutional contexts. We examine whether AIT adoption facilitates green transformation in RBEs. Using a sample of 1105 Chinese listed RBEs from 2009 to 2022, we provide robust evidence AIT adoption significantly enhances green transformation of RBEs via increasing R&amp;D investment, alleviating financing constraints, and optimizing human capital structure by replacing low-skilled workers with high-quality personnel. Contrary to conventional wisdom, we find that developed institutional environments paradoxically weaken AIT's positive impact on green transformation. Our cross-sectional results show that the positive impact of AIT is more pronounced for RBEs in manufacturing industries and those in Midwestern regions. Notably, the institutional environment's negative moderating effect varies across contexts that manufacturing RBEs demonstrate greater resilience to institutional constraints compared to non-manufacturing counterparts. Our findings provide novel insights into how artificial intelligence can drive environmental sustainability in resource-based sector while highlighting the critical role of institutional context, revealing instead that institutional development can create market-driven competitive dynamics that systematically crowd out environmental investments in favor of short-term profitability optimization.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"103 ","pages":"Article 104473"},"PeriodicalIF":5.6,"publicationDate":"2025-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144723402","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Green credit, bank competitiveness and bank risk-taking 绿色信贷、银行竞争力和银行风险承担
IF 5.6 2区 经济学
International Review of Economics & Finance Pub Date : 2025-07-25 DOI: 10.1016/j.iref.2025.104481
Meixuan Wu
{"title":"Green credit, bank competitiveness and bank risk-taking","authors":"Meixuan Wu","doi":"10.1016/j.iref.2025.104481","DOIUrl":"10.1016/j.iref.2025.104481","url":null,"abstract":"<div><div>With the gradual improvement of people's environmental awareness, the government and various social groups have begun to realize the importance of green credit. Green credit is an important tool of green finance and a bridge to introduce commercial banks into environmental control, while enhancing core competitiveness is the intrinsic motivation for commercial banks to carry out green credit business. The article takes 22 commercial banks as research samples, selects data from 2009 to 2023, constructs commercial bank competitiveness scores, explores the relationship between green credit and commercial bank competitiveness, and applies the mediation effect model to test the role of risk-taking in it. It is found that green credit can significantly enhance the core competitiveness of commercial banks, and the risk-taking indicator produces a significant mediating effect. Therefore, the development of green credit has become a powerful weapon for commercial banks to enhance their competitiveness.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"103 ","pages":"Article 104481"},"PeriodicalIF":5.6,"publicationDate":"2025-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144723399","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Would an earlier inception of OMT by the ECB have prevented the 2012 Greek default? 如果欧洲央行早一点启动OMT，就能防止2012年希腊违约吗？
IF 5.6 2区 经济学
International Review of Economics & Finance Pub Date : 2025-07-25 DOI: 10.1016/j.iref.2025.104356
Nicolas Mäder
{"title":"Would an earlier inception of OMT by the ECB have prevented the 2012 Greek default?","authors":"Nicolas Mäder","doi":"10.1016/j.iref.2025.104356","DOIUrl":"10.1016/j.iref.2025.104356","url":null,"abstract":"<div><div>To avert further debt crises following the Greek default of 2012, the European Central Bank (ECB) adopted outright purchases of sovereign bonds as part of its monetary policy regime. This paper examines whether an earlier inception of such purchases (OMT) could have prevented the observed Greek repudiation. To account for the extraordinary circumstances surrounding the Greek default, I construct a novel model of sovereign finance in which default is political and investors’ reliance on external credit ratings gives rise to slow moving crises. Estimating the model with Greek data, I find that an earlier inception of OMT plausibly could have prevented the observed default, but the resulting counterfactual Greek state would have been so fragile that, absent any further fiscal consolidation, eventual default was effectively inevitable. Moreover, the present Greek state remains sufficiently fragile that a quick return to a predominantly private financing scheme is not advisable.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"103 ","pages":"Article 104356"},"PeriodicalIF":5.6,"publicationDate":"2025-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144757918","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Air pollution and green mergers and acquisitions: An empirical study on heavily polluting enterprises 大气污染与绿色并购：基于重污染企业的实证研究
IF 4.8 2区 经济学
International Review of Economics & Finance Pub Date : 2025-07-25 DOI: 10.1016/j.iref.2025.104479
Liangkai Zhao , Huayue Yang
{"title":"Air pollution and green mergers and acquisitions: An empirical study on heavily polluting enterprises","authors":"Liangkai Zhao ,&nbsp;Huayue Yang","doi":"10.1016/j.iref.2025.104479","DOIUrl":"10.1016/j.iref.2025.104479","url":null,"abstract":"<div><div>This study utilizes comprehensive data from Chinese listed companies covering the period from 2014 to 2018 to analyze the impact of air pollution on green mergers and acquisitions (M&amp;As) of heavily polluting enterprises (HPEs). Our findings indicate that air pollution significantly promotes green M&amp;As of HPEs. The robustness of our results is validated through various identification methods and alternative measures. Additionally, we identify government pressure on air pollution governance as a potential mechanism underlying the observed relationship. Furthermore, the incentive effect of air pollution on green M&amp;As of HPEs is more pronounced among key-monitored enterprises, enterprises located in cities where officials have received promotions and state-owned enterprises. Moreover, air pollution also significantly enhances the financial and environmental performance of HPEs after green M&amp;As. Overall, our study illuminates the economic consequences of air pollution, thereby contributing to the existing literature on air pollution and corporate green M&amp;As.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"103 ","pages":"Article 104479"},"PeriodicalIF":4.8,"publicationDate":"2025-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144714081","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Curbing financial Greenwashing: Policy tools, legal mechanisms, and corporate responsibility for sustainable development 遏制金融“漂绿”：政策工具、法律机制和可持续发展的企业责任
IF 5.6 2区 经济学
International Review of Economics & Finance Pub Date : 2025-07-25 DOI: 10.1016/j.iref.2025.104480
Dan Wu , Xiangbin Zuo
{"title":"Curbing financial Greenwashing: Policy tools, legal mechanisms, and corporate responsibility for sustainable development","authors":"Dan Wu ,&nbsp;Xiangbin Zuo","doi":"10.1016/j.iref.2025.104480","DOIUrl":"10.1016/j.iref.2025.104480","url":null,"abstract":"<div><div>This study examines the internal mechanisms underlying financial greenwashing and assesses the synergistic effects of policy instruments and legal frameworks in mitigating such behavior. The results indicate that enhancing regulatory oversight, optimizing incentive policies, and tightening information disclosure requirements effectively reduce financial greenwashing, while improvements to legal frameworks can further strengthen policy implementation. The combined use of policy instruments and legal mechanisms demonstrates significant efficacy in curbing financial greenwashing. Policymakers should therefore consider employing diverse policy instruments and emphasize coordination with legal frameworks.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"103 ","pages":"Article 104480"},"PeriodicalIF":5.6,"publicationDate":"2025-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144763643","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Can supply chain finance enhance corporate solvency? — The impact mechanism of corporate litigation 供应链金融能增强企业偿付能力吗？——公司诉讼影响机制
IF 5.6 2区 经济学
International Review of Economics & Finance Pub Date : 2025-07-25 DOI: 10.1016/j.iref.2025.104477
Hongjun Han , Shu Song , Grace (Li) Tian
{"title":"Can supply chain finance enhance corporate solvency? — The impact mechanism of corporate litigation","authors":"Hongjun Han ,&nbsp;Shu Song ,&nbsp;Grace (Li) Tian","doi":"10.1016/j.iref.2025.104477","DOIUrl":"10.1016/j.iref.2025.104477","url":null,"abstract":"<div><div>This research analyzes supply chain finance (SCF) and company solvency among Chinese listed firms over the years 2009–2022, it also examines litigation as an important moderator of the relationship. The empirical tests shows that SCF increases firms' ability to service debt. The role of corporate litigation is an important moderator of the relationship between SCF and company solvency. However, litigation effects differ between state-owned enterprises (SOEs) and private enterprises (PEs). However, there are not significant differences between SOEs and PEs for the effects of SCF on company solvency. In addition, the effects of SCF on corporate solvency provide evidence of heterogeneity between profitable and loss making firms.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"103 ","pages":"Article 104477"},"PeriodicalIF":5.6,"publicationDate":"2025-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144763640","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Assessing systemic importance using multilayer dynamic networks: Evidence from China's stock market 利用多层动态网络评估系统重要性：来自中国股市的证据
IF 5.6 2区 经济学
International Review of Economics & Finance Pub Date : 2025-07-24 DOI: 10.1016/j.iref.2025.104279
Yue Zhang , Haozhi Chen , Xiaolei He
{"title":"Assessing systemic importance using multilayer dynamic networks: Evidence from China's stock market","authors":"Yue Zhang ,&nbsp;Haozhi Chen ,&nbsp;Xiaolei He","doi":"10.1016/j.iref.2025.104279","DOIUrl":"10.1016/j.iref.2025.104279","url":null,"abstract":"<div><div>This study develops a multilayer dynamic network framework to evaluate the systemic importance of 348 firms listed in China's A-share market over the period 2010–2021. By employing the maximum mutual information coefficient (MIC), the model captures both linear and nonlinear interdependencies, integrating firm-specific tail risk indicators and trading-based metrics. Topological analysis of the network, including connectivity, clustering, and centrality measures, reveals structural drivers of systemic risk propagation. The results show that firms with high centrality and interconnectedness disproportionately amplify systemic vulnerabilities, underscoring their critical roles in financial stability. The multilayer dynamic framework significantly enhances the precision of systemic risk assessment compared to traditional single-layer models. This study contributes to systemic risk literature by extending advanced network methodologies to emerging markets and offers actionable insights for policymakers and regulators to design effective risk mitigation strategies.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"103 ","pages":"Article 104279"},"PeriodicalIF":5.6,"publicationDate":"2025-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144738939","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Research on related party transactions (RPTs): a systematic review and bibliometric analysis 关联方交易研究：系统回顾与文献计量分析
IF 5.6 2区 经济学
International Review of Economics & Finance Pub Date : 2025-07-24 DOI: 10.1016/j.iref.2025.104469
Rohan Kumar Mishra , Debidutta Pattnaik , M. Kabir Hassan , Abhijeet Chandra
{"title":"Research on related party transactions (RPTs): a systematic review and bibliometric analysis","authors":"Rohan Kumar Mishra ,&nbsp;Debidutta Pattnaik ,&nbsp;M. Kabir Hassan ,&nbsp;Abhijeet Chandra","doi":"10.1016/j.iref.2025.104469","DOIUrl":"10.1016/j.iref.2025.104469","url":null,"abstract":"<div><div>This study aims to offer new quantitative and qualitative insights into transaction efficiency and conflict of interest among minority and controlling shareholders in related party transactions (RPTs). We utilize systematic literature review (SLR) and bibliometric techniques to analyse 218 published articles. Our analysis identifies significant contributors, publishing sources, research groups, and maps the evolution of RPT themes and their relationship to contemporary theoretical frameworks. Subsequently, we conduct a comprehensive network and content analysis. Our findings indicate that research in RPTs began evolving post-global financial crisis, particularly since 2008, with East-Asian researchers dominating the intellectual discourse. Most studies are non-collaborative and based on empirical evidence from a limited number of countries. Methodologically, many studies employ descriptive statistics or regression techniques. We identify six thematic clusters contributing to the growth narrative of RPT research. Furthermore, we identify potential avenues for future research in RPTs and corporate governance while highlighting progressive trends and dynamics within the selected themes.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"103 ","pages":"Article 104469"},"PeriodicalIF":5.6,"publicationDate":"2025-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144724837","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
How does digital supply chain transformation enhance sustainable performance of renewable energy enterprises? 数字化供应链转型如何提升可再生能源企业的可持续绩效？
IF 4.8 2区 经济学
International Review of Economics & Finance Pub Date : 2025-07-23 DOI: 10.1016/j.iref.2025.104460
Xiuping Shi, Hao Liu
{"title":"How does digital supply chain transformation enhance sustainable performance of renewable energy enterprises?","authors":"Xiuping Shi,&nbsp;Hao Liu","doi":"10.1016/j.iref.2025.104460","DOIUrl":"10.1016/j.iref.2025.104460","url":null,"abstract":"<div><div>Enhancing sustainable performance is critical for renewable energy enterprises grappling with supply chain vulnerabilities. This study employs a DID model for regression analysis with data spanning from 2012 to 2023. The results show that digital transformation significantly enhances the sustainable performance of renewable energy enterprises by improving supply chain intelligence and coordination efficiency. The digital economy improves energy supply stability and sustainability by optimizing production and inventory management, enhancing supply chain coordination, and enabling green technology integration with renewables. The analysis identifies key conditions: the maturity of energy factor markets enables supply chain digitalization to enhance enterprises' sustainable performance. Additionally, the unique climate sensitivity of energy enterprises leads to stronger energy resilience improvements in firms with higher exposure to climate risks. However, the inherent risks of energy supply chains, capital intensity, and stakeholder oversight pose challenges to their sustainable governance practices.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"103 ","pages":"Article 104460"},"PeriodicalIF":4.8,"publicationDate":"2025-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144714083","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：604180095
Book学术官方微信