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Physical settlement, liquidity, and price discovery in single stock futures; Evidence from Panel Vector Error Correction Model 单股期货的实物结算、流动性和价格发现来自面板矢量误差修正模型的证据
IF 10.4 2区 经济学 Q1 BUSINESS, FINANCE
Finance Research Letters
Pub Date : 2026-02-06 DOI: 10.1016/j.frl.2026.109603
Sangram Keshari Jena, Amine Lahiani
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引用次数: 0
Facilitating or crowding out? The role of local government debt in green bond issuance 促进还是排挤？地方政府债务在绿色债券发行中的作用
IF 10.4 2区 经济学 Q1 BUSINESS, FINANCE
Finance Research Letters
Pub Date : 2026-02-05 DOI: 10.1016/j.frl.2026.109605
Sidra Zia, Lin Song, Radwan Alkebsee, Adeeb Alhebri
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引用次数: 0
Can commercial paper exchange promote corporate green innovation? Quasi-natural experimental evidence from China 商业票据交易所能否促进企业绿色创新？来自中国的准自然实验证据
IF 6.9 2区 经济学 Q1 BUSINESS, FINANCE
Finance Research Letters
Pub Date : 2026-02-05 DOI: 10.1016/j.frl.2026.109617
Peide Lai, Shuaiqi Xu
The Shanghai Commercial Paper Exchange (SHCPE) provides a platform for enterprises to utilize commercial papers in supporting green innovation. Using a sample of manufacturing companies listed on China’s A-share market, this study demonstrates that the establishment of SHCPE enhances corporate green innovation, whether segmented by patent type or knowledge dimension. The underlying mechanisms include mitigating financing constraints, enhancing environmental information transparency, and increasing R&D investment. Heterogeneity analysis indicates that SHCPE significantly affects firms that are state-owned, subject to high environmental and market pressure, and located in financially underdeveloped regions. This study provides empirical evidence and policy insights for developing countries seeking to enhance commercial paper market infrastructure and promote sustainable development.
上海商业票据交易所（SHCPE）为企业利用商业票据支持绿色创新提供了平台。本文以中国a股制造业上市公司为样本，通过对专利类型和知识维度的细分，研究表明SHCPE的建立促进了企业绿色创新。其基本机制包括缓解融资约束、提高环境信息透明度和增加研发投资。异质性分析表明，金融欠发达地区的国有企业、环境压力大、市场压力大的国有企业对SHCPE影响显著。本研究为寻求加强商业票据市场基础设施和促进可持续发展的发展中国家提供了经验证据和政策见解。
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引用次数: 0
CEO overconfidence, ESG, and corporate financial performance: Evidence from an emerging country CEO过度自信、ESG与企业财务绩效：来自一个新兴国家的证据
IF 10.4 2区 经济学 Q1 BUSINESS, FINANCE
Finance Research Letters
Pub Date : 2026-02-05 DOI: 10.1016/j.frl.2026.109616
Anh Ngoc Mai, Lien Phuong Thi Vu, Cuong Nguyen Le, Thanh Minh Nguyen, Luong Ngo Van, Ngo Anh Cuong
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引用次数: 0
How does rural e-commerce affect innovation and entrepreneurship 农村电子商务如何影响创新创业
IF 6.9 2区 经济学 Q1 BUSINESS, FINANCE
Finance Research Letters
Pub Date : 2026-02-05 DOI: 10.1016/j.frl.2026.109606
Hanyue Li, Ruihan Liu, Jiayun Zheng, Shuaigang Dong
With the deep integration of rural industry and digital economy, rural e-commerce has developed as an effective way which transforming the mode of agriculture and increasing farmers’ income. Because of the comprehensive promotion of the digital technology and agriculture project, the rural network retail sale in China has reached 2.8 trillion yuan in 2024. Rural e-commerce provided a core driving force for rural industrial upgrading and rural innovation and entrepreneurship development. This study uses the two-way fixed effect model with the panel data of 26 provinces in China from 2014 to 2022 to examine the relationship of rural e-commerce and innovation and entrepreneurship. Results show that: (1) Rural e-commerce has a positive effect on rural innovation and entrepreneurship, and the conclusion is robust; (2) Rural e-commerce positively promotes rural innovation and entrepreneurship through capital-sinking effect and resource-integrated effect; (3) According to regional characteristics, the rural e-commerce boosts the innovation and entrepreneurship in different ways. The following suggestions are put forward: (1) Optimize the top-level design layout and continuously release the potential of rural e-commerce; (2) Increase the inclusiveness of digital finance and extend the agro-industry chain to attract innovative and entrepreneurial talents; (3) Increase R&D funding to stimulate entrepreneurial activity in rural areas; (4) Strengthen basic social security and employment support.
随着农村工业与数字经济的深度融合，农村电子商务作为转变农业生产方式、增加农民收入的有效途径得到了发展。由于数字技术和农业工程的全面推进，2024年中国农村网络零售额达到2.8万亿元。农村电子商务为农村产业升级和农村创新创业发展提供了核心动力。本文利用2014 - 2022年中国26个省份的面板数据，采用双向固定效应模型检验农村电子商务与创新创业的关系。结果表明：(1)农村电子商务对农村创新创业具有正向影响，且结论具有稳健性；(2)农村电子商务通过资本下沉效应和资源整合效应积极促进农村创新创业；(3)根据区域特点，农村电子商务促进创新创业的方式不同。提出以下建议：(1)优化顶层设计布局，不断释放农村电子商务潜力；(2)增加数字金融的包容性，延伸农产品产业链，吸引创新创业人才；(3)增加研发资金，以刺激农村地区的创业活动；（四）加强基本社会保障和就业支持。
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引用次数: 0
Indirect Import, Intermediate Trade Liberalization and Corporate Innovation 间接进口、中间贸易自由化与企业创新
IF 10.4 2区 经济学 Q1 BUSINESS, FINANCE
Finance Research Letters
Pub Date : 2026-02-03 DOI: 10.1016/j.frl.2026.109587
Guanhong Jiang, Zixiao Yan
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引用次数: 0
Predicting cryptocurrency volatility: Climate policy uncertainty versus environmental attention 预测加密货币波动：气候政策不确定性与环境关注
IF 10.4 2区 经济学 Q1 BUSINESS, FINANCE
Finance Research Letters
Pub Date : 2026-02-03 DOI: 10.1016/j.frl.2026.109554
Skander Slim, Mohamed Osman, Yosra Koubaa
{"title":"Predicting cryptocurrency volatility: Climate policy uncertainty versus environmental attention","authors":"Skander Slim, Mohamed Osman, Yosra Koubaa","doi":"10.1016/j.frl.2026.109554","DOIUrl":"https://doi.org/10.1016/j.frl.2026.109554","url":null,"abstract":"","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"104 1","pages":"109554"},"PeriodicalIF":10.4,"publicationDate":"2026-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146111033","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
On survivor cryptocurrency momentum 关于幸存者加密货币的势头
IF 10.4 2区 经济学 Q1 BUSINESS, FINANCE
Finance Research Letters
Pub Date : 2026-02-02 DOI: 10.1016/j.frl.2026.109602
Klaus Grobys, Davide Sandretto, Janne Äijö
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引用次数: 0
Does Exercise Keep Your Wallet Healthy? An Empirical Study between Physical Activity and Household Financial Vulnerability 运动能让你的钱包健康吗？体育活动与家庭财务脆弱性的实证研究
IF 10.4 2区 经济学 Q1 BUSINESS, FINANCE
Finance Research Letters
Pub Date : 2026-02-02 DOI: 10.1016/j.frl.2026.109601
Daqian Huang, Kwo Ping Tam, Bo Chen
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引用次数: 0
Climate vulnerability and market volatility: evidence from European firms 气候脆弱性和市场波动：来自欧洲公司的证据
IF 10.4 2区 经济学 Q1 BUSINESS, FINANCE
Finance Research Letters
Pub Date : 2026-02-02 DOI: 10.1016/j.frl.2026.109598
Sarela Enriquez-Perales, Conrado Diego García-Gómez, José María Díez-Esteban
{"title":"Climate vulnerability and market volatility: evidence from European firms","authors":"Sarela Enriquez-Perales, Conrado Diego García-Gómez, José María Díez-Esteban","doi":"10.1016/j.frl.2026.109598","DOIUrl":"https://doi.org/10.1016/j.frl.2026.109598","url":null,"abstract":"","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"1 1","pages":"109598"},"PeriodicalIF":10.4,"publicationDate":"2026-02-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146111035","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
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