Research in International Business and Finance最新文献_第2页

How do women directors ensure corporate ethics? The role of board tenure

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-03-13 DOI: 10.1016/j.ribaf.2025.102867

Nancy Ursel, Ligang Zhong

引用次数: 0

Predicting ESG disclosure quality through board secretaries' characteristics: A machine learning approach

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-03-13 DOI: 10.1016/j.ribaf.2025.102865

Jie Yang , Yanfang Niu , Wenlei Shi , Kanghuan Zhu

{"title":"Predicting ESG disclosure quality through board secretaries' characteristics: A machine learning approach","authors":"Jie Yang , Yanfang Niu , Wenlei Shi , Kanghuan Zhu","doi":"10.1016/j.ribaf.2025.102865","DOIUrl":"10.1016/j.ribaf.2025.102865","url":null,"abstract":"<div><div>This study employs a machine learning approach to explore the relationship between board secretaries' (BS') characteristics and the quality of Environmental, Social, and Governance (ESG) disclosure in enterprises. The results indicate that BS' competence characteristics are the primary drivers of ESG disclosure quality, with salary, functional experience, age, and tenure as key predictive features. BS' salary and functional experience show an upward trend with ESG disclosure quality. BS' age has a nonlinear predictive effect on ESG disclosure quality, exhibiting an approximately positive \"U\"-shaped relationship. BS' tenure also demonstrates a nonlinear predictive effect. Robustness checks confirm that BS' characteristics remain crucial factors even after controlling for CEO characteristics. Interaction effect analysis reveals that the impact of BS' salary, functional experience, and tenure on ESG disclosure quality is more significant among middle-aged board secretaries. Heterogeneity tests based on ownership type, institutional environment, and media attention show that the importance of BS' characteristics varies across different contexts. This study provides a new perspective and empirical evidence for predicting ESG disclosure quality, offering guidance for improving the appointment process and incentive mechanisms for board secretaries.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"76 ","pages":"Article 102865"},"PeriodicalIF":6.3,"publicationDate":"2025-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143642557","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

The impact of digital inclusive finance on green economic efficiency: Pathways to inclusive sustainability

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-03-13 DOI: 10.1016/j.ribaf.2025.102857

Yuanxiang Zhou , Huayan Liu , Chan Chen , Yingqi Ma

{"title":"The impact of digital inclusive finance on green economic efficiency: Pathways to inclusive sustainability","authors":"Yuanxiang Zhou , Huayan Liu , Chan Chen , Yingqi Ma","doi":"10.1016/j.ribaf.2025.102857","DOIUrl":"10.1016/j.ribaf.2025.102857","url":null,"abstract":"<div><div>Digital inclusive finance plays a crucial role in China's financial supply-side structural reform, offering new opportunities to foster economic development, achieve inclusive growth, and ensure sustainability. Using panel data from Chinese counties between 2014 and 2022, this paper employs the super-efficiency EBM model with undesirable outputs to measure green economic efficiency and empirically examines the impact of digital inclusive finance on it. The results indicate that the development of digital inclusive finance positively influences the growth of green economic efficiency in China, and the conclusion remains robust after various robustness tests. Heterogeneity analysis reveals significant regional differences in the impact of digital inclusive finance on urban green economic efficiency, depending on factors such as development scale, geographic location, and the implementation of digital rural policies. Notably, the effect is more pronounced in medium-sized regions, and in areas without digital rural pilot policies, the promotion of digital inclusive finance has a more substantial impact on enhancing green economic efficiency. Further mechanism analysis demonstrates that digital inclusive finance and its sub-dimensions enhance green economic efficiency by alleviating enterprise financing constraints, fostering technological innovation, and upgrading industrial structures. This study provides new insights into the relationship between digital finance and green economic efficiency, offering policy recommendations for sustainable development.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"76 ","pages":"Article 102857"},"PeriodicalIF":6.3,"publicationDate":"2025-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143686601","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

Economic policy uncertainty and foreign direct investment inflow: The role of institutional quality in South Asia region

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-03-12 DOI: 10.1016/j.ribaf.2025.102860

Mosab I. Tabash

{"title":"Economic policy uncertainty and foreign direct investment inflow: The role of institutional quality in South Asia region","authors":"Mosab I. Tabash","doi":"10.1016/j.ribaf.2025.102860","DOIUrl":"10.1016/j.ribaf.2025.102860","url":null,"abstract":"<div><div>The article examines the relationship between economic policy uncertainty (EPU) and institutional quality (INQ) and how both factors affect FDI inflow into South Asia between 2000 and 2019. The relationship between the variables was analyzed using the FMOLS and DOLS models while the robustness of analysis was performed by employing GMM model. Demonstrated by the strong negative correlation between FDI inflows and EPU, the findings suggest that policy instability discourages investments essential for sustainable development. In contrast, INQ posits a direct relationship with FDI inflow. Notably, INQ also mitigates the negative effects of policy uncertainty on investment by moderating the relationship between EPU and FDI. These findings have significant policy implications, indicating that an investment climate conducive to sustainable FDI can be established by prioritizing institutional improvement, policy stability, and financial development. This study offers a way to integrate FDI policy with sustainable development goals by examining the moderating effect of INQ on the EPU-FDI nexus. It also contributes to the existing body of literature on environmental transition, opening new research avenues for further exploration.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"76 ","pages":"Article 102860"},"PeriodicalIF":6.3,"publicationDate":"2025-03-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143609256","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

Exposure of stock sector returns to petroleum price shocks: The case of petroleum exporters and importers

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-03-12 DOI: 10.1016/j.ribaf.2025.102869

Miramir Bagirov , Cesario Mateus

引用次数: 0

Can non-punitive regulation curb corporate greenwashing?Evidence from a word embedding model

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-03-12 DOI: 10.1016/j.ribaf.2025.102861

Jiacai Xiong , Zelin Yang , Qing Sophie Wang

{"title":"Can non-punitive regulation curb corporate greenwashing?Evidence from a word embedding model","authors":"Jiacai Xiong , Zelin Yang , Qing Sophie Wang","doi":"10.1016/j.ribaf.2025.102861","DOIUrl":"10.1016/j.ribaf.2025.102861","url":null,"abstract":"<div><div>This study examines the impact of non-punitive regulations on corporate greenwashing. We employ a word embedding model to quantify greenwashing levels in Chinese A-share listed companies from 2015 to 2021. Using comment letters issued by stock exchanges as a proxy for non-punitive intervention, our finding reveals their effectiveness in deterring greenwashing behavior. The results remain robust after a battery of sensitivity tests. We posit three potential mechanisms underlying this effect: enhanced information transparency, increased media scrutiny, and mitigated agency problems within firms. The impact of comment letters is particularly pronounced in firms with a higher propensity for greenwashing, including private and smaller companies, those with limited analyst coverage, firms operating in polluting or highly competitive industries, and regions with lower environmental transparency or market development. Overall, this study contributes to the understanding of non-punitive regulation's role in shaping corporate environmental practices and provides valuable insights for mitigating greenwashing.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"76 ","pages":"Article 102861"},"PeriodicalIF":6.3,"publicationDate":"2025-03-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143636281","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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

Green innovation under financial and policy uncertainty: Evidence from China

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-03-08 DOI: 10.1016/j.ribaf.2025.102856

Sultan Sikandar Mirza , Ninglu Xu , Shaen Corbet , Frank Scrimgeour

{"title":"Green innovation under financial and policy uncertainty: Evidence from China","authors":"Sultan Sikandar Mirza , Ninglu Xu , Shaen Corbet , Frank Scrimgeour","doi":"10.1016/j.ribaf.2025.102856","DOIUrl":"10.1016/j.ribaf.2025.102856","url":null,"abstract":"<div><div>This study examines the effect of idiosyncratic risk on the green innovation of A-share listed companies in China from 2010 to 2021, using idiosyncratic risk as a proxy for financial risk. Results indicate that idiosyncratic risk adversely affects a firm’s green innovation, which is negatively mod- erated by heightened economic policy uncertainty (EPU), highlighting that firms tend to defer or halt green innovation investments under high EPU, appreciating the ’real option’ value of a deci- sion to ‘wait-and-see’. Further, policy determinant analysis reveals that the negative moderation originates from trade-related policy uncertainties. Heterogeneity analysis reveals that the primary findings are more pronounced in non-SOEs and those companies determined to be larger, older, and more leveraged firms with elevated ESG performance. Findings are found to be robust across several various econometric approaches. This research contributes to the literature on corporate green innovation by analysing the moderating role of EPU and providing insights for managers, investors, and policymakers.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"76 ","pages":"Article 102856"},"PeriodicalIF":6.3,"publicationDate":"2025-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143601276","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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

The Impact of commercial banks' ESG performance: Difference between provocative and passive risk-taking – Evidence from China

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-03-08 DOI: 10.1016/j.ribaf.2025.102859

Bohui Wen , Wei You , Ming Yuan

{"title":"The Impact of commercial banks' ESG performance: Difference between provocative and passive risk-taking – Evidence from China","authors":"Bohui Wen , Wei You , Ming Yuan","doi":"10.1016/j.ribaf.2025.102859","DOIUrl":"10.1016/j.ribaf.2025.102859","url":null,"abstract":"<div><div>In recent years, the rise of ESG concepts has gradually had an impact on economic entities, and commercial banks are also facing changes in their risk-taking behavior while practicing ESG concepts. This paper takes data of 42 A-share listed commercial banks in China from 2009Q1 to 2023Q3 to analyze the impact of ESG performance on commercial banks by distinguishing between proactive and passive risk-taking. The findings reveal that strong ESG performance promotes proactive risk-taking while suppressing passive risk-taking, ultimately reducing overall passive risk-taking. This helps improve asset quality, mitigate the risk of asset deterioration, and enhance financing functions of commercial banks. Mechanism tests show that ESG performance fosters proactive risk-taking by accumulating reputational capital, while curbing passive risk-taking through optimizing credit structures and alleviating information asymmetry. Regulatory effect analysis indicates that expanding the MPA (Macroprudential Assessment) to the green sector can moderate the positive impact of ESG performance on proactive risk-taking, preventing excessive risk-taking. This study provides recommendations for the banking industry to balance ESG practices with financial stability under the \"dual carbon\" goals.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"76 ","pages":"Article 102859"},"PeriodicalIF":6.3,"publicationDate":"2025-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143609257","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

Climate risks and corporate supply chain configuration:Evidence from China

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-03-08 DOI: 10.1016/j.ribaf.2025.102852

Zhifang Su , Changzhe Deng , Yufang Feng , Yulu Bai , Zhikai Xu

引用次数: 0

Board digital expertise and digital innovation: Evidence from commercial banks in China 董事会的数字专长与数字创新：来自中国商业银行的证据

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-03-07 DOI: 10.1016/j.ribaf.2025.102854

Shengjing Yu, Xiaolan Zheng, Martin J. Liu

{"title":"Board digital expertise and digital innovation: Evidence from commercial banks in China","authors":"Shengjing Yu, Xiaolan Zheng, Martin J. Liu","doi":"10.1016/j.ribaf.2025.102854","DOIUrl":"10.1016/j.ribaf.2025.102854","url":null,"abstract":"<div><div>We investigate the effect of board digital expertise (i.e., the presence of board directors with digital expertise) on digital innovation. Using a novel index of digital innovation and a sample of 2,227 bank-year observations for 296 Chinese commercial banks over the period 2008–2018, we find that board digital expertise is positively associated with digital innovation. Our results remain robust when addressing endogeneity concerns, using alternative measures for focal variables, conducting subsample analyses, and adopting alternative estimation techniques. We further find that the positive impact of board digital expertise on digital innovation is more pronounced in banks with greater needs for resource provision. When decomposing board digital expertise, we observe higher levels of digital innovation in banks with digital-savvy directors, who are more effective at channeling resources from external environments. Moreover, we find that digital innovation improves in terms of quantity, quality, scope, openness, iteration, and human agency when more digital experts serve on the board. Finally, we demonstrate that digital innovation is a mechanism that links board digital expertise with better bank performance.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"76 ","pages":"Article 102854"},"PeriodicalIF":6.3,"publicationDate":"2025-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143628966","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