Journal of Multinational Financial Management最新文献

Green bonds: Catalyst or constraint for corporate green investment efficiency? 绿色债券：企业绿色投资效率的催化剂还是制约因素？

IF 2.9 3区经济学

Journal of Multinational Financial Management Pub Date : 2025-07-15 DOI: 10.1016/j.mulfin.2025.100920

Xinkuo Xu, Chenxi Zhang, Lizhengbo Yang

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引用次数: 0

Foreign bank entry and corporate emissions: Evidence from staggered deregulations in China 外资银行进入和企业排放：来自中国交错放松监管的证据

IF 2.9 3区经济学

Journal of Multinational Financial Management Pub Date : 2025-06-23 DOI: 10.1016/j.mulfin.2025.100919

William Mbanyele , Hongyun Huang , Ying Liu , Xinwei Qu

引用次数: 0

Economic freedom and market resilience: Safeguarding liquidity in times of crisis 经济自由和市场弹性：在危机时期保障流动性

IF 2.9 3区经济学

Journal of Multinational Financial Management Pub Date : 2025-06-21 DOI: 10.1016/j.mulfin.2025.100918

Hyun Joung Jin , Jang-Chul Kim , Qing Su

{"title":"Economic freedom and market resilience: Safeguarding liquidity in times of crisis","authors":"Hyun Joung Jin , Jang-Chul Kim , Qing Su","doi":"10.1016/j.mulfin.2025.100918","DOIUrl":"10.1016/j.mulfin.2025.100918","url":null,"abstract":"<div><div>This study examines the link between the liquidity of non-U.S. stocks listed on the NYSE and the economic freedom of their home countries, with a particular focus on the COVID-19 pandemic. The key hypothesis suggests that greater economic freedom enhances stock liquidity by reducing information asymmetry and transaction costs. The findings confirm that stocks from countries with higher economic freedom exhibit narrower bid-ask spreads, lower price impacts, and reduced information-based trading, indicating improved market efficiency. Additionally, the study finds that economic freedom played a crucial role in maintaining liquidity and market stability during the pandemic. Countries with stronger financial, investment, and trade freedom experienced smaller declines in liquidity, suggesting that regulatory flexibility and transparent financial systems helped mitigate the effects of external shocks. These results highlight the importance of economic freedom in fostering resilient financial markets and reducing market disruptions during crises. The study provides practical implications for policymakers, investors, and financial institutions by emphasizing the need to promote economic freedom through transparent regulations, investor protections, and efficient market structures. Ultimately, the research supports the idea that higher economic freedom not only enhances financial market efficiency in normal conditions but also acts as a stabilizing force in times of economic uncertainty and global crises.</div></div>","PeriodicalId":47268,"journal":{"name":"Journal of Multinational Financial Management","volume":"79 ","pages":"Article 100918"},"PeriodicalIF":2.9,"publicationDate":"2025-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144365566","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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

Exploring the role of crude oil futures in portfolio diversification 探讨原油期货在投资组合多元化中的作用

IF 2.9 3区经济学

Journal of Multinational Financial Management Pub Date : 2025-06-11 DOI: 10.1016/j.mulfin.2025.100917

Ching-Chi Hsu , Wei-Che Tsai

引用次数: 0

Central bank swap arrangements, exchange rate volatility, and China’s exports 央行互换安排、汇率波动和中国出口

IF 2.9 3区经济学

Journal of Multinational Financial Management Pub Date : 2025-06-06 DOI: 10.1016/j.mulfin.2025.100915

Zhuqing Liu , Junmei Zhang

引用次数: 0

Temporal dynamics of uncertainty shocks on China's trade openness: A TVP-VAR estimation 不确定性冲击对中国贸易开放的时间动态影响：tpv - var估计

IF 2.9 3区经济学

Journal of Multinational Financial Management Pub Date : 2025-06-06 DOI: 10.1016/j.mulfin.2025.100916

Petros Golitsis , Kyriakos Emmanouilidis

{"title":"Temporal dynamics of uncertainty shocks on China's trade openness: A TVP-VAR estimation","authors":"Petros Golitsis , Kyriakos Emmanouilidis","doi":"10.1016/j.mulfin.2025.100916","DOIUrl":"10.1016/j.mulfin.2025.100916","url":null,"abstract":"<div><div>This study examines the impact of multiple uncertainty factors on China's trade openness from 1997 to 2023. Employing a time-varying parameter vector autoregression (TVP-VAR) model, we analyze how geopolitical risks, economic policy uncertainties, trade policy uncertainties, and climate policy uncertainties affect China's export-to-import ratio over different time horizons. The analysis incorporates both global and China-specific uncertainty indices to capture domestic and international dimensions. Our results indicate that uncertainty shocks exhibit their strongest effects in the first quarter following the shock, with impacts diminishing but remaining significant over longer horizons. The time-varying impulse response functions reveal differential effects across various economic periods, including notable responses following major economic events such as the 2008 financial crisis and subsequent Eurozone debt crisis. We find that climate policy developments coincide with observable shifts in trade patterns<strong>,</strong> which could be associated with changes in environmental technology sectors. These findings have implications for understanding how trade flows respond to various shocks in an increasingly complex global economic environment.</div></div>","PeriodicalId":47268,"journal":{"name":"Journal of Multinational Financial Management","volume":"79 ","pages":"Article 100916"},"PeriodicalIF":2.9,"publicationDate":"2025-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144254957","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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

ETF connectedness and its applications: Evidence from RCEP member countries ETF连通性及其应用：来自RCEP成员国的证据

IF 2.9 3区经济学

Journal of Multinational Financial Management Pub Date : 2025-05-15 DOI: 10.1016/j.mulfin.2025.100908

Zhenyang Li , Yuanying Jiang

引用次数: 0

How did banks react to SVB collapse? 银行对瑞典对外银行的倒闭有何反应？

IF 2.9 3区经济学

Journal of Multinational Financial Management Pub Date : 2025-03-01 DOI: 10.1016/j.mulfin.2025.100900

Anis Samet , Kimberly C. Gleason , Feras M. Salama , Xi Ye

引用次数: 0

Is the relationship between financial globalization and financial stability heterogeneous? Evidence from emerging markets and developing economies 金融全球化与金融稳定的关系是异质性的吗？来自新兴市场和发展中经济体的证据

IF 2.9 3区经济学

Journal of Multinational Financial Management Pub Date : 2025-01-31 DOI: 10.1016/j.mulfin.2025.100899

Sunny Kumar Singh , Salva

{"title":"Is the relationship between financial globalization and financial stability heterogeneous? Evidence from emerging markets and developing economies","authors":"Sunny Kumar Singh , Salva","doi":"10.1016/j.mulfin.2025.100899","DOIUrl":"10.1016/j.mulfin.2025.100899","url":null,"abstract":"<div><div>This paper examines the association between financial stability and financial globalization for 59 emerging markets and developing countries (EMDEs) from 2000 to 2019. Our findings from the baseline model reveal that the relationship between financial stability and financial globalization varies, depending on dimensions of financial globalization (overall, <em>de facto</em>, <em>de jure</em>) and financial stability. The relationship shows nonlinear and heterogeneous patterns across quantiles of financial stability, characterized by well-defined extreme points within the data range. Specifically, by employing panel quantile regression technique, we find that financially unstable countries (lower quantiles of financial stability) exhibit a U-shaped relationship between dimensions of financial globalization and financial stability. In comparison, an inverted U-shaped relationship appears for financially stable countries. Further, we find that countries with weak institutional and financial development exhibit U-shaped relations, experiencing initial instability followed by stability. Conversely, financial stability initially improves for countries with strong institutional and financial development but declines as integration deepens. These findings underscore the importance of strengthening institutions to harness the benefits of financial globalization while mitigating associated risks.</div></div>","PeriodicalId":47268,"journal":{"name":"Journal of Multinational Financial Management","volume":"77 ","pages":"Article 100899"},"PeriodicalIF":2.9,"publicationDate":"2025-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143372394","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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

Technical indicators and aggregate stock returns: An updated look 技术指标和总股票回报：最新的看法

IF 2.9 3区经济学

Journal of Multinational Financial Management Pub Date : 2025-01-30 DOI: 10.1016/j.mulfin.2025.100898

Qi Shi

引用次数: 0