Research in International Business and Finance最新文献_第5页

Does financial inclusion affect corporate risk-taking? 普惠金融会影响企业的风险承担吗？

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103147

Rahmat Heru Setianto , W.N.W. Azman-Saini , Siong Hook Law

引用次数: 0

Cryptocurrencies and financial market stability: Theoretical modeling and empirical evidence of spillover effects from sequential attention cycles of crypto investors 加密货币与金融市场稳定：加密投资者连续关注周期溢出效应的理论建模和经验证据

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103141

Gilles Brice M’bakob

{"title":"Cryptocurrencies and financial market stability: Theoretical modeling and empirical evidence of spillover effects from sequential attention cycles of crypto investors","authors":"Gilles Brice M’bakob","doi":"10.1016/j.ribaf.2025.103141","DOIUrl":"10.1016/j.ribaf.2025.103141","url":null,"abstract":"<div><div>This study examines the impact of cryptocurrency investors’ attention cycles, particularly those driven by Bitcoin halving and blockchain-based financial technologies, on the stability of traditional financial markets. It contributes to the literature by proposing a theoretical framework that models an asymmetric, sequential attention transfer mechanism and tests it empirically using SVAR-X and Bayesian VAR approaches. Monthly data from January 2014 to December 2024, sourced from the 20 countries with the highest cryptocurrency adoption in 2024, are analyzed. Findings reveal that attention shocks propagate asymmetrically from Bitcoin halving to blockchain technologies and subsequently to traditional financial markets through market capitalization cycles and cryptocurrency-backed derivatives. Positive cyclical shocks stabilize markets, whereas negative shocks destabilize them. Robustness and sensitivity analyses confirm these findings and highlight differences between developed and emerging markets. Regulators should enhance monitoring of attention cycles and strengthen oversight of cryptocurrency derivatives to mitigate associated risks.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"80 ","pages":"Article 103141"},"PeriodicalIF":6.9,"publicationDate":"2025-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145220795","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

ECL model and the development of shadow banking? ECL模式与影子银行的发展？

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103109

Tianyu Zheng, Kunpeng Zhang, Zhenxing Lin

引用次数: 0

Tech firms and the renewable energy sector: Exploring the moderating effects of institutional ownership on financial connectedness 科技公司和可再生能源部门：探索机构所有权对金融连通性的调节作用

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103087

Selahattin Murat Sirin , Berna N. Yilmaz

{"title":"Tech firms and the renewable energy sector: Exploring the moderating effects of institutional ownership on financial connectedness","authors":"Selahattin Murat Sirin , Berna N. Yilmaz","doi":"10.1016/j.ribaf.2025.103087","DOIUrl":"10.1016/j.ribaf.2025.103087","url":null,"abstract":"<div><div>Tech firms can play a major role in advancing sustainability practices, particularly through their synergy with the renewable energy sector. However, the existing literature often overlooks firm-level dynamics and uses aggregated data to explore the connectedness between the tech and renewable energy sectors. This paper contributes to the literature by examining the moderating effects of institutional ownership on financial connectedness using firm-level data. We develop a novel dataset on firms’ renewable energy strategies with a large language model and utilize event-study and panel-data analyses to test our hypothesis. Based on data from 129 tech firms from 2011 to 2022, empirical analyses reveal that institutional ownership moderates the financial connectedness between tech firms and the renewable energy sector; however, the results indicate a threshold effect. While firms with low institutional ownership experience a higher impact on performance, performance differences among firms with higher institutional ownership are less pronounced.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"80 ","pages":"Article 103087"},"PeriodicalIF":6.9,"publicationDate":"2025-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145158130","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 digital finance mitigate corporate maturity mismatch in China? 数字金融是否缓解了中国企业期限错配？

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103153

Weiwei Xiao , Yunqing Tao , Chaoqun Li , Yongwei Ye

引用次数: 0

Investing in national art markets: Price explosivity and co-explosivity 投资国内艺术品市场：价格爆炸性和协同爆炸性

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103139

Marcin Potrykus , Imran Ramzan , Elie Bouri

引用次数: 0

Unveiling greenwashing trends: The curious effect of digital-driven M&As among listed Chinese firms 揭露“漂绿”趋势：数字驱动的并购对中国上市公司的奇特影响

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103140

Jinhua Xu, Zhehui Cai, Xiaoxia Li

引用次数: 0

Central bankers’ political discourse as a driver of clean energy markets 央行官员的政治话语是清洁能源市场的推动者

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103126

Yuqi Zheng , Brian Lucey

{"title":"Central bankers’ political discourse as a driver of clean energy markets","authors":"Yuqi Zheng , Brian Lucey","doi":"10.1016/j.ribaf.2025.103126","DOIUrl":"10.1016/j.ribaf.2025.103126","url":null,"abstract":"<div><div>We investigate how political language in central bank governors’ speeches affects clean energy market dynamics in both the Chinese and U.S. markets. Using advanced textual analysis (poldis) and a novel lexical matching algorithm, we measure key dimensions of policy discourse—authenticity, urgency, timing, intensity, and commitment. These speech-based indicators are integrated with traditional market and media variables through Extreme Bounds Analysis (EBA) and SHAP value interpretability. We find that speeches with stronger policy commitment and intensity are positively correlated with clean energy stock performance. Conversely, high urgency and shorter timing intervals often predict weaker market outcomes, potentially signaling perceived risks or instability to investors. Our results highlight the significant but nuanced role of central bank communication in shaping investor sentiment within sustainable finance markets. This research therefore contributes to financial economics, behavioral finance, and policy communication studies by quantifying how political discourse can drive asset pricing in emerging sectors like clean energy.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"80 ","pages":"Article 103126"},"PeriodicalIF":6.9,"publicationDate":"2025-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145220790","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

Asymmetric impacts of sustainable credit on industrial low-carbon development: Evidence from China 可持续信贷对工业低碳发展的不对称影响：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.2025.103131

Can Zhang , Wei Wei , Chaofei Du , Mohammad Zoynul Abedin , Brian Lucey

{"title":"Asymmetric impacts of sustainable credit on industrial low-carbon development: Evidence from China","authors":"Can Zhang , Wei Wei , Chaofei Du , Mohammad Zoynul Abedin , Brian Lucey","doi":"10.1016/j.ribaf.2025.103131","DOIUrl":"10.1016/j.ribaf.2025.103131","url":null,"abstract":"<div><div>Using Chinese A-share listed industrial enterprises from 2007 to 2021, this paper examines the asymmetric impacts of sustainable credit (SC) on industrial low-carbon development (ILCD) by adopting two-way fixed effects model. The baseline result indicates that SC has the significant incentive effect on ILCD of green enterprises, while it has the significant crowding-out effect on ILCD of polluting enterprises. Mechanism analysis shows that SC significantly incentives green product innovation and green process innovation of green enterprises. However, SC significantly inhibits green process innovation and green product innovation of polluting enterprises. Heterogeneity analysis shows that the incentive effect is reflected in green enterprises with good commercial credit environment and low degree of financialization, while the crowding-out effect is reflected in polluting enterprises with poor commercial credit environment and high degree of financialization. This paper provides new theoretical and empirical evidences for improving SC and promoting ILCD of different types of enterprises.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"80 ","pages":"Article 103131"},"PeriodicalIF":6.9,"publicationDate":"2025-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145019851","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

Government digital transformation for sustainable development: How e-government initiatives enhance total factor energy efficiency 政府数码转型促进可持续发展：电子政府措施如何提高全要素能源效率

IF 6.9 2区经济学

Research in International Business and Finance Pub Date : 2025-08-01 DOI: 10.1016/j.ribaf.2025.103084

Xin Huang , Yao Hu , Fushun Zhang , Tianren Li

{"title":"Government digital transformation for sustainable development: How e-government initiatives enhance total factor energy efficiency","authors":"Xin Huang , Yao Hu , Fushun Zhang , Tianren Li","doi":"10.1016/j.ribaf.2025.103084","DOIUrl":"10.1016/j.ribaf.2025.103084","url":null,"abstract":"<div><div>This study investigates whether digital transformation in government serves as a key catalyst for enhancing energy coordination efficiency in the contemporary era. Leveraging China's Intelligent E-Government Pilot Program as a quasi-natural experiment, we employed a difference-in-differences (DID) approach to analyze data from 282 prefecture-level cities between 2006 and 2021. Our investigation revealed three key findings. First, digital transformation in government significantly enhanced regional total factor energy efficiency (TFEE), with results remaining robust across multiple specification tests. The improvement operated through three primary mechanisms: enhanced industrial agglomeration, optimized market resource allocation, and refined policy environment. Second, the effectiveness of digital transformation varied significantly with local conditions. The policy showed greater impact in cities with larger populations and higher economic development levels, while its effectiveness was contingent upon governmental environmental commitment and institutional integrity. Third, we identify notable synergies between the pilot program and other digital economy initiatives, particularly in traditional energy distribution policies. These findings inform both theory and policy in digital governance and energy efficiency. It offers valuable insights for policymakers seeking to leverage digital transformation for improved energy coordination and environmental sustainability.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"80 ","pages":"Article 103084"},"PeriodicalIF":6.9,"publicationDate":"2025-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144896039","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