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Review of Quantitative Finance and Accounting OnlineFirst articles

08-12-2023 | Original Research

Opioid crisis effects on local firms’ risk

This study investigates the impact of the opioid crisis on local firms’ risk and payout flexibility using a sample of 4094 U.S. firms headquartered in 542 counties. We find that firms headquartered in counties with higher opioid mortality rates …

Authors:
Sabri Boubaker, Zied Ftiti, Yifan Liu, Wael Louhichi

Open Access 03-12-2023 | Original Research

Earnings quality and board meeting frequency

We propose that corporate directors are in greater need of soft information about the firm when the quality of hard accounting information is low. We further propose that board meetings constitute a key opportunity for corporate directors to …

Authors:
Nikos Vafeas, Adamos Vlittis

Open Access 01-12-2023 | Original Research

The impact of the Paycheck Protection Program on the risk-taking behaviour of US banks

The economic impact of the COVID-19 pandemic placed many small businesses across the US in financial distress. In response to this, in March 2020 the US government introduced, as part of the CARES Act, the Paycheck Protection Program (PPP) …

Author:
Stefano Filomeni

30-11-2023 | Original Research

Chalk it up to experience: CEO general ability and earnings management

We provide evidence that firms managed by CEOs with high general ability, or broad experience in their background, are more likely to utilize discretionary accruals to manage earnings than CEOs with focused experience. Cross-sectional variation …

Authors:
Leila Zbib, Kourosh Amirkhani, Douglas Fairhurst

25-11-2023 | Original Research

Effect of FinCredit on income inequality: the moderating role of financial inclusion

This paper examines the direct effect of FinCredit on income inequality and the moderating effect of Financial Inclusion. Using a dual-process variable selection approach, we develop an optimal model to test two hypotheses and explore how …

Authors:
Xuan T. T. Pham, Thu B. Luu

Open Access 07-11-2023 | Original Research

The impact of economic policy uncertainty and inflation risk on corporate cash holdings

This paper analyses the joint effects of Economic Policy Uncertainty (EPU) and inflation risk on the Corporate Cash Holdings (CCH) of US firms from 2011 to 2021. The baseline results suggest that EPU and inflation risk positively impact CCH.

Authors:
Bijoy Chandra Das, Fakhrul Hasan, Soma Rani Sutradhar

19-10-2023 | Original Research

Do environmental and social practices matter for the financial resilience of companies? Evidence from US firms during the COVID-19 pandemic

This paper contributes to the understanding of the relation between the environmental and social positioning of companies and the financial resilience in the specific context of the COVID-19 crisis. Resilience is measured through two dimensions …

Authors:
Hachmi Ben Ameur, Selma Boussetta

07-09-2023 | Original Research

Bankruptcy prediction using machine learning and Shapley additive explanations

Recently, ensemble-based machine learning models have been widely used and have demonstrated their efficiency in bankruptcy prediction. However, these algorithms are black box models and people cannot understand why they make their forecasts. This …

Authors:
Hoang Hiep Nguyen, Jean-Laurent Viviani, Sami Ben Jabeur

02-09-2023 | Original Research

The role of dividends and investor sentiment in the relation between idiosyncratic risk and expected returns

We test the role of dividends and investor sentiment in the relation between idiosyncratic risk and expected returns because Pastor and Veronesi (J Financ 58:1749–1789, 2003) find evidence that dividends reduce firm-specific uncertainty by sending …

Authors:
Jungshik Hur, Qing Yang

01-08-2023 | Original Research

Working capital financing and firm performance: a machine learning approach

Companies always try to balance the risk and return on their investments, finances, and daily operations. This study presents the moderating role of ownership status, company size, and leverage level while investigating the relationship between …

Authors:
Faisal Mahmood, Zahoor Ahmed, Nazim Hussain, Younes Ben-Zaied

Open Access 15-07-2023 | Original Research

The performance of the euro area banking system: the pandemic in perspective

This research explores the performance of the euro area banking system between 2002:Q3 and 2021:Q1 using banks’ return on assets as a gauge. It finds that despite the Covid-19 pandemic, the banking sector’s performance has not been negatively …

Authors:
Maria-Eleni K. Agoraki, Georgios P. Kouretas, Francisco Nadal De Simone

24-06-2023 | Original Research

Employee treatment and firm performance: evidence from topic modelling in lawsuit announcements

This study uses a machine learning technique to assess whether employee lawsuits are informative in predicting firm performance. Using a Bayesian topic modelling algorithm, we examine a large collection of employee lawsuit announcements between …

Authors:
Omer Unsal, M. Kabir Hassan

Open Access 23-01-2023 | Publisher Correction

Correction to: Trade credit and firm investments: empirical evidence from italian cooperative banks

Authors:
Stefano Filomeni, Michele Modina, Elena Tabacco

18-01-2023 | Correction

Correction to: The disciplinary effect of taxpayer balloting on public spending: some empirical evidence

Authors:
Yaw M. Mensah, Michael P. Schoderbek, Min Cao, Savita A. Sahay

01-03-2022 | Correction

Correction to: Risk premia in the term structure of crude oil futures: long‑run and short‑run volatility components

The original version of the article has contained a mistake in Table 2 and it has been corrected in this erratum.

Authors:
Naomi Boyd, Bingxin Li, Rui Liu