Research in International Business and Finance最新文献_第4页

Post-traumatic growth of CEOs and corporate giving: Evidence from the Korean War 首席执行官创伤后成长与企业捐赠：来自朝鲜战争的证据

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103101

Seunghyun Cho , Jinhan Pae , Choong-Yuel Yoo

引用次数: 0

Methodological ESG uncertainty in portfolio sorts 投资组合分类中方法论ESG的不确定性

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103132

Ricardo Henriquez-Salman

引用次数: 0

Do domestic and US economic policy uncertainty increase China’s macro-financial risk connectedness? 国内和美国经济政策的不确定性是否会增加中国宏观金融风险的连通性？

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103138

Chunyang Hu , Yang Zhou

{"title":"Do domestic and US economic policy uncertainty increase China’s macro-financial risk connectedness?","authors":"Chunyang Hu , Yang Zhou","doi":"10.1016/j.ribaf.2025.103138","DOIUrl":"10.1016/j.ribaf.2025.103138","url":null,"abstract":"<div><div>While economic policy uncertainty (EPU) has been shown to increase systemic risk within financial institutions, there is limited knowledge about the role of EPU in influencing the risk connectedness (spillover) between financial markets and macroeconomic sectors. This paper provides a systematic analysis and comparison of how China’s macro-financial risk connectedness in responds to an increase in domestic and US EPU. The results suggest that: (i) an increase in domestic EPU leads to a significant rise in macro-financial total risk connectedness for at least two years; (ii) specifically, the increase in domestic EPU causes financial markets to act more as transmitters of risk, while macroeconomic sectors act more as receivers of risk; (iii) categorical EPUs exhibit a similar pattern to the overall EPU, with China’s monetary policy uncertainty (MPU) having the largest effects; (iv) US EPU also increases China’s macro-financial risk connectedness, though the impact is lower in magnitude and shorter in duration; (v) however, during the US–China trade conflict, a rise in US TPU causes a more significant and persistent increase in China’s macro-financial risk connectedness.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"80 ","pages":"Article 103138"},"PeriodicalIF":6.9,"publicationDate":"2025-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145220793","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

Decoding risk transmission: A higher-order moments network analysis of sustainable and traditional markets 解码风险传递：可持续市场与传统市场的高阶矩网络分析

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103085

Yue He , Miaomiao Tao , Xiaohang Ren

引用次数: 0

Impact of exogenous events on volatility derivatives pricing 外生事件对波动衍生品定价的影响

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103129

Youssef El Khatib , Stéphane Goutte , Feng Ma , Samuel A. Vigne

引用次数: 0

Does ESG rating disagreement discourage corporate green innovation? Evidence from China ESG评级分歧是否阻碍了企业的绿色创新？来自中国的证据

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103146

Jianli Wang , Xiao Xiao , Minghua Dong , Jingyuan Li

{"title":"Does ESG rating disagreement discourage corporate green innovation? Evidence from China","authors":"Jianli Wang , Xiao Xiao , Minghua Dong , Jingyuan Li","doi":"10.1016/j.ribaf.2025.103146","DOIUrl":"10.1016/j.ribaf.2025.103146","url":null,"abstract":"<div><div>The rapid development of ESG investment has led to the swift emergence of ESG rating agencies, causing ESG rating disagreements that impact corporate green innovation. This paper utilizes panel data from Chinese A-share listed companies to explore the impact of ESG rating disagreement on corporate green innovation and its underlying mechanisms. Our findings reveal that ESG rating disagreement negatively affects corporate green innovation, which is supported by several endogeneity and robustness tests. Mechanism analysis indicates that institutional investor shareholding and effective internal control mitigate these adverse effects. Further research shows that firms that are in central and western China, are not technology-intensive, have high market competition, and receive high investor attention are particularly susceptible to these negative impacts. Consequently, the government should encourage enterprises to actively implement ESG principles and accelerate the development of ESG rating standards and disclosure systems to foster high-quality corporate development.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"80 ","pages":"Article 103146"},"PeriodicalIF":6.9,"publicationDate":"2025-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145158131","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

Does climate risk disclosure affect stock liquidity? 气候风险披露是否影响股票流动性？

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103130

Shaohai Lei , Yilan Chen , Dehua Xia

引用次数: 0

The role of family control and ownership in M&A decisions: Evidence from an emerging market 家族控制和所有权在并购决策中的作用：来自新兴市场的证据

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103125

Luiz Ricardo Kabbach-de-Castro , Mariana Martins Meirelles-de-Castro , Aquiles Elie Guimarães Kalatzis

{"title":"The role of family control and ownership in M&A decisions: Evidence from an emerging market","authors":"Luiz Ricardo Kabbach-de-Castro , Mariana Martins Meirelles-de-Castro , Aquiles Elie Guimarães Kalatzis","doi":"10.1016/j.ribaf.2025.103125","DOIUrl":"10.1016/j.ribaf.2025.103125","url":null,"abstract":"<div><div>Family firms frequently confront a strategic tension between protecting socioemotional wealth and pursuing financial growth. Adopting a mixed-gamble approach, we examine how family-controlled firms assess mergers and acquisitions (M&A) by balancing potential financial benefits against perceived socioemotional risks. Our findings show that family control is associated with a lower likelihood of engaging in M&A transactions, reflecting a conservative strategic position. However, the structure of family ownership moderates this behavior: stronger voting rights increase the probability of acquisitions by reducing perceived threats to control, whereas higher cash flow rights amplify financial risk aversion, further discouraging acquisition activity. These effects are robust across variations in firm size, growth opportunities, dividend policies, and deal characteristics, such as industry-related and domestic deals. By showing how governance configurations shape the framing of M&A strategic decisions, our study extends the mixed-gamble framework and highlights the internal signals family firms rely upon when navigating complex growth choices. The findings offer new insights into the governance-driven foundations of family firm behavior, particularly under the heightened uncertainty of emerging market environments.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"80 ","pages":"Article 103125"},"PeriodicalIF":6.9,"publicationDate":"2025-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144997185","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 financial benefits of digital technology adoption: Evidence from large language model 采用数字技术的经济效益：来自大型语言模型的证据

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103136

Cheng Li , Tao Li , Shengkun Zhao , Xuankai Zhao

引用次数: 0

Towards low-carbon development through integration of technology and finance: Quasi-experimental evidence from China 科技与金融融合实现低碳发展：来自中国的准实验证据

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103150

Yantuan Yu , Ning Zhang

{"title":"Towards low-carbon development through integration of technology and finance: Quasi-experimental evidence from China","authors":"Yantuan Yu , Ning Zhang","doi":"10.1016/j.ribaf.2025.103150","DOIUrl":"10.1016/j.ribaf.2025.103150","url":null,"abstract":"<div><div>While the critical roles of technology and finance in pollution abatement have been empirically ascertained, the synergistic effects of their integration on carbon mitigation and carbon marginal abatement costs (CMAC) of carbon remain underexplored in existing literature. In this paper, we first treat the scientific-technological and finance pilot policy (STFPP) as a quasi-experimental, and identify its effects on carbon emissions and CMAC using the staggered difference-in-differences strategy. Empirical findings show that the STFPP leads to a 5.2 % decrease in carbon emissions alongside a reduction in CMAC by 1520 RMB per ton. It is also found that STFPP has a pronounced effect in reducing carbon emissions through three mechanisms: strengthening carbon reduction policy intensity, promoting green technological innovation, and facilitating integration of digital and real economies. This investigation not only constructs a theoretical scaffold but also provides empirical evidence that elucidates the specific mechanisms by which STFPP can effectively decrease both carbon emissions and CMAC. Our paper provides a practical basis for reinforcing the role of STFPP in environmental governance, equipping policymakers with valuable insights for strategic decision-making.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"80 ","pages":"Article 103150"},"PeriodicalIF":6.9,"publicationDate":"2025-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145220787","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