Research in International Business and Finance最新文献_第3页

How does climate risk affect corporate financialization? 气候风险如何影响企业金融化？

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-06-01 DOI: 10.1016/j.ribaf.2025.102954

Teng Yuan Cheng , Liang Dong , Yuxuan Dong , Keith S.K. Lam

引用次数: 0

Overnight information and anomalies 夜间资料及异常情况

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-06-01 DOI: 10.1016/j.ribaf.2025.103019

Jun Xie , Wenqian Xia , Bin Gao

引用次数: 0

ESG news and firm value: Evidence from China’s automation of pollution monitoring ESG新闻与企业价值：来自中国污染监测自动化的证据

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-06-01 DOI: 10.1016/j.ribaf.2025.103024

Darwin Choi, Abhiroop Mukherjee, Zexin Zheng

引用次数: 0

US uncertainty shocks, credit, production, and prices: The case of fourteen Latin American countries 美国的不确定性冲击、信贷、生产和价格：14个拉丁美洲国家的案例

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-06-01 DOI: 10.1016/j.ribaf.2025.103003

Carlos Giraldo , Iader Giraldo , Jose E. Gomez-Gonzalez , Jorge M. Uribe

{"title":"US uncertainty shocks, credit, production, and prices: The case of fourteen Latin American countries","authors":"Carlos Giraldo , Iader Giraldo , Jose E. Gomez-Gonzalez , Jorge M. Uribe","doi":"10.1016/j.ribaf.2025.103003","DOIUrl":"10.1016/j.ribaf.2025.103003","url":null,"abstract":"<div><div>This study investigates the effects of US uncertainty shocks on 14 Latin American countries (LACs), considering the region’s varying levels of dependence on US economic and financial flows. While existing research has focused on developed and larger emerging economies, it has not fully addressed how global cycles in production, credit, and prices might influence the impact of US uncertainty. The findings show that Latin American countries, with their high debt levels and economic diversity, are especially sensitive to US uncertainty, whether real, financial, or policy related. Real and financial uncertainty have more lasting and significant effects on GDP than economic or monetary policy uncertainty. Overall, US uncertainty tends to slow economic activity in the region, though the impact varies between countries. These differences highlight the importance of tailoring policies to individual countries' circumstances. Policymakers in Latin America should consider these findings when designing economic strategies, as understanding the specific sources of uncertainty and their potential impact can help guide decisions on economic management and investment planning. Diversification strategies can also play a role in mitigating the adverse effects of US uncertainty on regional economies.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"78 ","pages":"Article 103003"},"PeriodicalIF":6.3,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144196152","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 role of whale investors in the bitcoin market 鲸鱼投资者在比特币市场中的作用

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-06-01 DOI: 10.1016/j.ribaf.2025.103008

Dehua Shen, Guiqiang Shi

引用次数: 0

Towards more inclusive finance: Exploring the mystery of low carbon green technological innovation 迈向普惠金融：探索低碳绿色技术创新的奥秘

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-06-01 DOI: 10.1016/j.ribaf.2025.102991

Xiaodong Yang , Ahmed Imran Hunjra , Samar S. Alharbi , Shikuan Zhao

引用次数: 0

Financial markets and environmental risks: unveiling the impact of climate uncertainty 金融市场和环境风险：揭示气候不确定性的影响

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-06-01 DOI: 10.1016/j.ribaf.2025.102998

Shoaib Ali , Xu Xiaoyang , Samar S. Alharbi , Muhammad Shahid Rasheed

{"title":"Financial markets and environmental risks: unveiling the impact of climate uncertainty","authors":"Shoaib Ali , Xu Xiaoyang , Samar S. Alharbi , Muhammad Shahid Rasheed","doi":"10.1016/j.ribaf.2025.102998","DOIUrl":"10.1016/j.ribaf.2025.102998","url":null,"abstract":"<div><div>This paper examines the co-movement between Chinese climate policy uncertainty (CPU) and Twitter-based Chinese climate uncertainty (CU) on the eleven sectors of the Chinese equity market, utilizing monthly data from December 2011 to January 2023. To this end, we employ a wavelet-based analysis, which enables the investigation of bivariate relationships in time and frequency domains. The wavelet coherence plot indicates that the influence of CPU on equity sectors is relatively limited and largely insignificant. We also observe a substantial positive correlation between CU and the equity sector, particularly in the medium term (4<img>8 months), confirming the asymmetric relationship. Moreover, our results confirm heterogeneous market responses to different climate risks. The findings support the hedging and safe-haven characteristics of the equity sector with regard to climate risk. Finally, these outcomes have implications for policymakers and investors seeking to enhance the market stability and performance of their portfolios. Therefore, investors should consider including Chinese stocks in their portfolios to mitigate climate risk.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"78 ","pages":"Article 102998"},"PeriodicalIF":6.3,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144196151","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

Strengthening economic resilience in manufacturing: The role of inclusive finance in supply chain sustainability 加强制造业的经济韧性：普惠金融在供应链可持续性中的作用

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-06-01 DOI: 10.1016/j.ribaf.2025.103023

Shulin Xu , Yuzhu Xiong , Min Zhong

{"title":"Strengthening economic resilience in manufacturing: The role of inclusive finance in supply chain sustainability","authors":"Shulin Xu , Yuzhu Xiong , Min Zhong","doi":"10.1016/j.ribaf.2025.103023","DOIUrl":"10.1016/j.ribaf.2025.103023","url":null,"abstract":"<div><div>In the context of high uncertainties in the global economic environment, enhancing firms’ sustainable development capability within supply chains from the perspective of inclusive finance is crucial. In this study, we explore the differences in economic resilience between manufacturing and service industries in response to risk shocks, with a focus on the role of inclusive finance. Through an empirical analysis of Chinese A-share listed companies, we find that an increase in the number of suppliers weakens manufacturing firms’ economic resilience, but it has no significant impact on service firms. This is because an increased number of suppliers in manufacturing reduces the substitutability of intermediate goods, thus affecting total factor productivity. This effect is especially pronounced in cities outside urban agglomerations, in cities where the product market is underdeveloped but the factor market is well developed, in asset-intensive industries and amongst firms facing high financing constraints, with extensive overseas operations and low innovation capacity. Nevertheless, the development of inclusive finance can effectively mitigate the negative impact of an increased number of suppliers on manufacturing firms’ resilience, particularly in enhancing payment efficiency and security. This study provides an inclusive finance perspective to strengthen manufacturing firms’ resilience within supply chains and address the challenges posed by global sustainable development.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"78 ","pages":"Article 103023"},"PeriodicalIF":6.3,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144365258","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 risk and local government debt decisions 气候风险与地方政府债务决策

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-06-01 DOI: 10.1016/j.ribaf.2025.103010

Li Bin, Wang Chensheng, Lv Wendai

{"title":"Climate risk and local government debt decisions","authors":"Li Bin, Wang Chensheng, Lv Wendai","doi":"10.1016/j.ribaf.2025.103010","DOIUrl":"10.1016/j.ribaf.2025.103010","url":null,"abstract":"<div><div>In this study, data from 277 cities at the prefecture level and above in China for the 2010–2020 period are utilized to comprehensively explore the impacts of climate risk on local government debt strategies and analyze the underlying mechanisms. The findings are as follows: (1) Climate risk compels local governments to adopt more aggressive debt strategies, thus influencing the process of mitigating local government debt risk. (2) The mechanistic analysis results reveal that the increase in investment demands and the narrowing of revenue pathways are the primary mechanisms driving local government debt decisions under the influence of an increased climate risk. (3) Significant spatial spillover effects arise as climate risk influences local government debt strategies. (4) The heterogeneity analysis indicates that the magnitude of climate risk's impact on local government debt strategies varies considerably across different governance contexts, highlighting the deeper effects of multiple and often conflicting policy objectives on local debt governance. The conclusions of this research provide valuable insights for managing government debt risk within the context of climate change.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"78 ","pages":"Article 103010"},"PeriodicalIF":6.3,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144489710","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

Intrafirm inventor network integration and cross-sectional stock returns 企业内部发明家网络整合与横断面股票收益

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2025-05-26 DOI: 10.1016/j.ribaf.2025.103004

Jaewan Bae , Donggyu Kim , Kyung Yoon Kwon

{"title":"Intrafirm inventor network integration and cross-sectional stock returns","authors":"Jaewan Bae , Donggyu Kim , Kyung Yoon Kwon","doi":"10.1016/j.ribaf.2025.103004","DOIUrl":"10.1016/j.ribaf.2025.103004","url":null,"abstract":"<div><div>This paper examines how intrafirm inventor network integration (IINI) influences future stock returns. We define IINI as the degree to which inventors within a firm are interconnected through collaborative ties. Firms with higher IINI can foster more effective knowledge sharing and produce more original innovations, enhancing long-term firm value. Extracting the inventor collaboration information from the US patent data, we find that firms with higher IINI achieve higher returns even after controlling for traditional asset pricing factors or existing organizational capital factors. IINI enhances innovation, particularly by improving innovative originality, and increases exposure to key talent risk, which partly accounts for its return predictability. However, IINI also contains unique information that drives long-term stock performance beyond key talent risk. We find that IINI-based return predictability persists up to five years, consistent with the market’s underappreciation of intangible assets due to limited investor attention and complexity. Our findings highlight the critical role of inventor networks in fostering organizational capital and innovation, underscoring their importance in asset pricing and firm valuation.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"78 ","pages":"Article 103004"},"PeriodicalIF":6.3,"publicationDate":"2025-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144170432","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