International Finance最新文献_第2页

Lost in Translation: Why Distance Undermines Institutional Monitoring on Earnings Quality 迷失在翻译中：为什么距离破坏了对盈余质量的机构监控

IF 1.2 4区经济学

International Finance Pub Date : 2026-08-03 Epub Date: 2026-07-24 DOI: 10.1111/infi.70046

Hong Kee Sul, Chune Young Chung, Huy Pham

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引用次数: 0

Composite Uncertainty Indicators and Stock Market Returns: Based on Supervised Dimension Reduction Techniques 综合不确定性指标与股票市场收益：基于监督降维技术

IF 1.2 4区经济学

International Finance Pub Date : 2026-08-03 Epub Date: 2026-01-26 DOI: 10.1111/infi.70023

Yongan Xu, Lijuan Peng, Aimin Song

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引用次数: 0

Composite Uncertainty Indicators and Stock Market Returns: Based on Supervised Dimension Reduction Techniques 综合不确定性指标与股票市场收益：基于监督降维技术

IF 1.2 4区经济学

International Finance Pub Date : 2026-08-03 Epub Date: 2026-01-26 DOI: 10.1111/infi.70023

Yongan Xu, Lijuan Peng, Aimin Song

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引用次数: 0

Lost in Translation: Why Distance Undermines Institutional Monitoring on Earnings Quality 迷失在翻译中：为什么距离破坏了对盈余质量的机构监控

IF 1.2 4区经济学

International Finance Pub Date : 2026-08-03 Epub Date: 2026-07-24 DOI: 10.1111/infi.70046

Hong Kee Sul, Chune Young Chung, Huy Pham

{"title":"Lost in Translation: Why Distance Undermines Institutional Monitoring on Earnings Quality","authors":"Hong Kee Sul, Chune Young Chung, Huy Pham","doi":"10.1111/infi.70046","DOIUrl":"https://doi.org/10.1111/infi.70046","url":null,"abstract":"This study examines how institutional distance shapes the effectiveness of institutional investors' monitoring of corporate earnings quality. Using a sample of 3125 firm-year observations for non-US firms cross-listed on US exchanges from 2001 to 2017, we distinguish between two forms of proximity: geographic proximity, which captures the informational advantages of home-country institutions (IO_Home), and market proximity, which reflects US institutions' familiarity with the listing market (IO_US). We employ panel regressions with firm and year fixed effects and double-clustered standard errors and find a significant and positive association between IO_Home and all three earnings attributes: persistence, value relevance and timeliness. In contrast, IO_US shows no significant monitoring effect. These findings support the geographic proximity advantage over the market proximity advantage. Moreover, geographic advantage exerts a stronger effect in firms with greater information opacity (proxied by research and development intensity) and remains robust in instrumental variable estimation that addresses selection endogeneity. Our results highlight the critical role of geographic closeness, rather than market familiarity, in determining institutional monitoring effectiveness on earnings quality.","PeriodicalId":46336,"journal":{"name":"International Finance","volume":"29 2","pages":"520-530"},"PeriodicalIF":1.2,"publicationDate":"2026-08-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/infi.70046","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148662759","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Geopolitical Risk Shocks and China's Foreign Trade: An Asymmetric Granger Causality Investigation 地缘政治风险冲击与中国对外贸易：非对称格兰杰因果关系调查

IF 1.2 4区经济学

International Finance Pub Date : 2026-08-03 Epub Date: 2026-03-18 DOI: 10.1111/infi.70030

Yina Qiao, Zhonglu Chen

{"title":"Geopolitical Risk Shocks and China's Foreign Trade: An Asymmetric Granger Causality Investigation","authors":"Yina Qiao, Zhonglu Chen","doi":"10.1111/infi.70030","DOIUrl":"https://doi.org/10.1111/infi.70030","url":null,"abstract":"<div>\u0000 \u0000 Escalating geopolitical conflicts and great power games have posed severe challenges to cross-border trade and global economic stability. However, the literature inadequately addresses the nexus between geopolitical risk (GPR) and China's foreign trade, particularly the heterogeneous import and export effects across regions. To fill this gap, this study adopts the asymmetric Granger causality test to explore the causal link between the China GPR Index (CGPR) and its import and export volume with eight major trading regions (the US, Japan, South Korea, Australia, India, Russia, ASEAN and the EU), using monthly data from January 2014 to June 2025. The empirical results reveal significant asymmetric Granger causality between China's GPR and foreign trade, with notable differences in causal intensity and direction during the upward/downward trends of the CGPR and trade expansion/contraction. Distinct regional heterogeneities are also identified, and the two-way causal interaction features long-term persistence, with GPR exerting sustained effects on medium- to long-term trade growth rather than short-term fluctuations. Notably, asymmetry implies that policymakers should formulate asymmetric risk response policies, such as reinforcing trade resilience during GPR surges and seizing trade growth opportunities during GPR downturns, while adopting regionally differentiated strategies. Accordingly, this study provides concrete empirical support for targeted foreign trade and GPR policies that are critical to stabilizing China's trade growth amid a complex international landscape.\u0000 </div>","PeriodicalId":46336,"journal":{"name":"International Finance","volume":"29 2","pages":"350-375"},"PeriodicalIF":1.2,"publicationDate":"2026-08-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148662559","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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

Natural Disasters and Corporate Dividend Policies: International Evidence 自然灾害与公司股利政策：国际证据

IF 1.2 4区经济学

International Finance Pub Date : 2026-08-03 Epub Date: 2026-04-21 DOI: 10.1111/infi.70033

Chih-Wei Wang, Weizheng Lin, Shih-Xuan Lin

引用次数: 0

Social Media Monitoring to Predict Bank Runs: Signals and Limitations 社会媒体监测预测银行挤兑：信号和限制

IF 1.2 4区经济学

International Finance Pub Date : 2026-08-03 Epub Date: 2026-06-09 DOI: 10.1111/infi.70039

Konstantin Klaucke

引用次数: 0

International Evidence on the Impact of Macro-Prudential Policies on Bank Systemic Risk 宏观审慎政策对银行系统性风险影响的国际证据

IF 1.2 4区经济学

International Finance Pub Date : 2026-08-03 Epub Date: 2026-06-17 DOI: 10.1111/infi.70040

Wenqing Gao

引用次数: 0

International Spillovers of Conventional Versus Unconventional US Monetary Policy 美国传统货币政策与非常规货币政策的国际溢出效应

IF 1.2 4区经济学

International Finance Pub Date : 2026-08-03 Epub Date: 2026-01-20 DOI: 10.1111/infi.70022

Hakan Yilmazkuday

{"title":"International Spillovers of Conventional Versus Unconventional US Monetary Policy","authors":"Hakan Yilmazkuday","doi":"10.1111/infi.70022","DOIUrl":"https://doi.org/10.1111/infi.70022","url":null,"abstract":"<div>\u0000 \u0000 This paper investigates the international spillovers of conventional and unconventional US monetary policy for a diverse set of 44 countries. A two-stage empirical approach is considered, first using country-specific structural vector autoregressions to isolate US monetary policy shocks and estimate their dynamic effects on other economies. In the second stage, cross-country regressions are used to identify the structural characteristics that drive the heterogeneity in these spillovers. The results suggest a distinct dichotomy in the transmission mechanisms: conventional US monetary policy appears to spill over primarily through trade-related channels in this framework, with its impact shaped by a country's participation in global value chains. In contrast, unconventional policy is transmitted mainly through financial channels, with a country's degree of financial openness being the most critical determinant of its vulnerability. While conventional US monetary policy tightening typically causes currencies to appreciate, unconventional tightening leads to widespread depreciation. These findings imply that the specific tool used by the Federal Reserve may influence the relative dominance of international transmission channels and that financial openness significantly reduces monetary policy autonomy in the face of unconventional US monetary policy shocks.\u0000 </div>","PeriodicalId":46336,"journal":{"name":"International Finance","volume":"29 2","pages":"224-239"},"PeriodicalIF":1.2,"publicationDate":"2026-08-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148662773","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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

Social Media Monitoring to Predict Bank Runs: Signals and Limitations 社会媒体监测预测银行挤兑：信号和限制

IF 1.2 4区经济学

International Finance Pub Date : 2026-08-03 Epub Date: 2026-06-09 DOI: 10.1111/infi.70039

Konstantin Klaucke

引用次数: 0