发布求助
文献互助 智能选刊 最新文献

European Financial Management 最新文献

筛选
英文 中文
The role of inventory in firm resilience to the Covid‐19 pandemic 库存对企业抵御 Covid-19 大流行病的作用
European Financial Management  Pub Date : 2024-09-13 DOI: 10.1111/eufm.12517
Olga Dodd, Shushu Liao
{"title":"The role of inventory in firm resilience to the Covid‐19 pandemic","authors":"Olga Dodd, Shushu Liao","doi":"10.1111/eufm.12517","DOIUrl":"https://doi.org/10.1111/eufm.12517","url":null,"abstract":"We study the role of inventory in corporate resilience to Covid‐19 in 2020, which triggered exogenous shocks to consumer demand, commodity prices and supply chains. Unexpected drops in consumer demand and commodity prices increase the costs of inventory. Conversely, inventory holdings can buffer against supply disruptions. Empirically, US firms with higher inventory experienced more negative stock market responses early in the crisis due to falling consumer demand. However, since May 2020, inventory has become valuable as a hedge against supply disruptions, improving firm performance. During Covid‐19, unlike other crises, inventory played a unique role as a hedge against supply disruptions.","PeriodicalId":501261,"journal":{"name":"European Financial Management ","volume":"53 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142261361","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The impact of social media influencers on the financial market performance of firms 社交媒体影响力对企业金融市场表现的影响
European Financial Management  Pub Date : 2024-09-13 DOI: 10.1111/eufm.12513
Kevin Keasey, Costas Lambrinoudakis, Danilo V. Mascia, Zhengfa Zhang
{"title":"The impact of social media influencers on the financial market performance of firms","authors":"Kevin Keasey, Costas Lambrinoudakis, Danilo V. Mascia, Zhengfa Zhang","doi":"10.1111/eufm.12513","DOIUrl":"https://doi.org/10.1111/eufm.12513","url":null,"abstract":"Despite the huge growth in the number of influencers and their use by firms, there is a lack of analysis of how social media influencers affect the financial market performance of firms. Anecdotal evidence suggests mega influencers can impact the stock prices of firms via social media. We ask whether such an effect is generalizable to all mega influencers and other financial market characteristics of firms. Using a hand‐collected data set of 16,156,419 mega influencer posts on Instagram, we find that mega influencers affect investors' attention, volatility and trading volume but not stock returns. It takes top influencers with extreme sentiment posts to affect returns and, even here, the effect is short‐lived.","PeriodicalId":501261,"journal":{"name":"European Financial Management ","volume":"8 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142261362","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
How to green the European auto ABS market? A literature survey 如何绿化欧洲汽车 ABS 市场？文献调查
European Financial Management  Pub Date : 2024-09-10 DOI: 10.1111/eufm.12515
Carmelo Latino, Loriana Pelizzon, Max Riedel
{"title":"How to green the European auto ABS market? A literature survey","authors":"Carmelo Latino, Loriana Pelizzon, Max Riedel","doi":"10.1111/eufm.12515","DOIUrl":"https://doi.org/10.1111/eufm.12515","url":null,"abstract":"This literature survey explores the potential avenues for the design of a green auto asset‐backed security (Green Auto ABS) by focusing on the European auto securitization market. In this context, we examine the entire value chain of the securitization process to understand the incentives and interests involved at various stages of the transaction. We review recent regulatory developments, feasibility concerns, and potential designs of a sustainable securitization framework. Our study suggests that a Green Auto ABS could be based on both a green use of proceeds and a green collateral‐based methodology.","PeriodicalId":501261,"journal":{"name":"European Financial Management ","volume":"11 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142190768","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Like a moth to a flame: Do stock market bubbles exacerbate credit risks of peer‐to‐peer lending? 飞蛾扑火股市泡沫会加剧点对点借贷的信贷风险吗？
European Financial Management  Pub Date : 2024-09-10 DOI: 10.1111/eufm.12516
Xin Liu, Xiaoran Ni, Zhigang Qiu, Wang Xiang, Kailun Zhang
{"title":"Like a moth to a flame: Do stock market bubbles exacerbate credit risks of peer‐to‐peer lending?","authors":"Xin Liu, Xiaoran Ni, Zhigang Qiu, Wang Xiang, Kailun Zhang","doi":"10.1111/eufm.12516","DOIUrl":"https://doi.org/10.1111/eufm.12516","url":null,"abstract":"We establish a causal link between stock market bubbles and credit risks from peer‐to‐peer lending. Employing a fuzzy regression discontinuity design based on retail investors' disproportional increase in stock market participation when the Shanghai Stock Exchange composite index exceeds 3500, we find that both the default rate and the degree of delinquency rise disproportionately for loans borrowed above the 3500 threshold. This effect is more pronounced among loans of lower quality and when borrowers are more overconfident and less risk averse. Overall, our results suggest that FinTech developments could amplify financial risks and induce contagion across markets.","PeriodicalId":501261,"journal":{"name":"European Financial Management ","volume":"2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142190766","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Pricing dynamics and herding behaviour of NFTs 非金融产品的定价动态和羊群行为
European Financial Management  Pub Date : 2024-09-10 DOI: 10.1111/eufm.12506
Gilbert Fridgen, Roman Kräussl, Orestis Papageorgiou, Alessandro Tugnetti
{"title":"Pricing dynamics and herding behaviour of NFTs","authors":"Gilbert Fridgen, Roman Kräussl, Orestis Papageorgiou, Alessandro Tugnetti","doi":"10.1111/eufm.12506","DOIUrl":"https://doi.org/10.1111/eufm.12506","url":null,"abstract":"This paper analyzes the sales of 875,389 art nonfungible tokens (NFTs) on the Ethereum blockchain to identify the key determinants influencing NFT pricing and market dynamics. We find that market liquidity and trade volume are strong predictors of NFT prices. Contrarily, social media activity negatively correlates with prices. Introducing an artist ranking system, our study reveals a “superstar effect”, with a few artists dominating sales, and herding behaviour within the NFT market.","PeriodicalId":501261,"journal":{"name":"European Financial Management ","volume":"2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142190767","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
An announcement effect in reverse? Evidence from cash‐settled convertible bonds 反向公告效应？现金结算可转换债券的证据
European Financial Management  Pub Date : 2024-09-02 DOI: 10.1111/eufm.12514
Stefano Gatti, Ulrich Sperl
{"title":"An announcement effect in reverse? Evidence from cash‐settled convertible bonds","authors":"Stefano Gatti, Ulrich Sperl","doi":"10.1111/eufm.12514","DOIUrl":"https://doi.org/10.1111/eufm.12514","url":null,"abstract":"We analyze the trading activity of underlying shares at the maturity of convertible bonds with cash‐settlement provisions. Our findings indicate that arbitrageurs and option dealers engage in systematic trading that leads to an increase in trading volumes and changes in the level of short interest in the affected underlying equities. We find significantly positive abnormal returns for the affected stocks if convertible bond‐related trading is not contaminated by opposing option‐related flows. This finding supports the notion that arbitrageurs can create a substantial market impact on shares underlying convertible bonds even without any relevant news dissemination.","PeriodicalId":501261,"journal":{"name":"European Financial Management ","volume":"20 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142190769","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Social networks and reputation incentives: Does directorship prestige influence effort? 社会网络和声誉激励：董事声望会影响努力吗？
European Financial Management  Pub Date : 2024-08-16 DOI: 10.1111/eufm.12512
Vincent J. Intintoli, Reda M. Moursli
{"title":"Social networks and reputation incentives: Does directorship prestige influence effort?","authors":"Vincent J. Intintoli, Reda M. Moursli","doi":"10.1111/eufm.12512","DOIUrl":"https://doi.org/10.1111/eufm.12512","url":null,"abstract":"Using social network theory, we measure the reputation of boards and directors based on the centrality of their respective networks. Directors commit greater effort, as measured by actual director attendance rates, to directorships they consider more prestigious. Results are robust to controlling for standard proxies of reputation as well as using alternative measures of centrality to identify prestigious directorships. We find similar results when examining exogenous shocks to relative directorship rankings; effort improves for directorships that increase in ranking following the shock. Our findings outline the importance directors place on the perceived reputational value of their directorships.","PeriodicalId":501261,"journal":{"name":"European Financial Management ","volume":"8 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142190796","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The impact of blockchain on firms' environmental and social performance 区块链对企业环境和社会绩效的影响
European Financial Management  Pub Date : 2024-08-06 DOI: 10.1111/eufm.12510
Carole Bernard, Rebecca Cardot, Jamil Jaballah
{"title":"The impact of blockchain on firms' environmental and social performance","authors":"Carole Bernard, Rebecca Cardot, Jamil Jaballah","doi":"10.1111/eufm.12510","DOIUrl":"https://doi.org/10.1111/eufm.12510","url":null,"abstract":"This paper studies the relationship between blockchain patents and firms' environmental and social performance. Using data from USPTO, we assess the effect of these patents on subcategories and aggregate grades for social and environmental dimensions. Our results show a negative main effect of blockchain‐related patents on social and environmental grades. However, this effect is moderated by company size and focus on R&D. We exploit the first legislation favorable to blockchain in the United States and find a positive effect of blockchain patents on environmental grades, showing a change in corporate behavior regarding the use of blockchain.","PeriodicalId":501261,"journal":{"name":"European Financial Management ","volume":"58 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141939205","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Foreign versus domestic SPACs in the US Market 美国市场上的外国 SPAC 与国内 SPAC
European Financial Management  Pub Date : 2024-07-26 DOI: 10.1111/eufm.12511
Yao‐Min Chiang, Bokyung Park, S. Ghon Rhee, Hui‐Ju Tsai
{"title":"Foreign versus domestic SPACs in the US Market","authors":"Yao‐Min Chiang, Bokyung Park, S. Ghon Rhee, Hui‐Ju Tsai","doi":"10.1111/eufm.12511","DOIUrl":"https://doi.org/10.1111/eufm.12511","url":null,"abstract":"This study compares domestic and foreign special purpose acquisition companies (SPACs) listed in the US market. Compared with domestic SPACs, we find that foreign SPACs raise lower proceeds from initial public offerings and private investments in public equity funding. Additionally, redemption rates of foreign SPACs are higher than those of domestic SPACs. Our findings suggest that foreign SPACs face a competitive disadvantage due to their limited networks in the US market.","PeriodicalId":501261,"journal":{"name":"European Financial Management ","volume":"69 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141777743","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Gender inequality, institutional quality and economic outcomes in the European Union 欧盟的性别不平等、机构质量和经济成果
European Financial Management  Pub Date : 2024-07-20 DOI: 10.1111/eufm.12508
Hyun‐Jung Nam, Doojin Ryu, Peter G. Szilagyi
{"title":"Gender inequality, institutional quality and economic outcomes in the European Union","authors":"Hyun‐Jung Nam, Doojin Ryu, Peter G. Szilagyi","doi":"10.1111/eufm.12508","DOIUrl":"https://doi.org/10.1111/eufm.12508","url":null,"abstract":"Our model, which analyses multi‐decade annual data from the European Union, suggests that gender inequality mediates the relationship between institutional quality and economic outcomes. We find that institutional quality significantly influences these outcomes, with positive associations with trade and per capita GDP, and negative associations with innovation. Institutional quality positively (negatively) impacts labour force (educational) inequality. Institutions prioritize reducing labour force inequality to boost trade and per capita GDP but struggle to address educational inequality, which does not similarly contribute to economic growth. Whereas labour force inequality negligibly impacts innovation, educational inequality significantly impedes it.","PeriodicalId":501261,"journal":{"name":"European Financial Management ","volume":"45 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141740859","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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：481959085
Book学术官方微信