Dr Anna Du's Outputs (98)

Ownership Type, Home‐Country Government‐Directed Investment Policies and Firm Value in Strategic Sectors: Evidence from Chinese Acquiring Firms (2021)
Journal Article
Boateng, A., Du, M., Bi, X., Kwabi, F. O., & Glaister, K. W. (2022). Ownership Type, Home‐Country Government‐Directed Investment Policies and Firm Value in Strategic Sectors: Evidence from Chinese Acquiring Firms. British Journal of Management, 33(3), 1412-1431. https://doi.org/10.1111/1467-8551.12538

Using data of Chinese acquirers in strategic sectors, we assess the role of home government and the effects of the interaction between ownership type and government-directed investment policies on acquiring firm value in cross-border acquisitions (CB... Read More about Ownership Type, Home‐Country Government‐Directed Investment Policies and Firm Value in Strategic Sectors: Evidence from Chinese Acquiring Firms.

Cultural distance and value creation of cross-border M&A: The moderating role of acquirer characteristics (2018)
Journal Article
Boateng, A., Du, M., Bi, X., & Lodorfos, G. (2019). Cultural distance and value creation of cross-border M&A: The moderating role of acquirer characteristics. International Review of Financial Analysis, 63, 285-295. https://doi.org/10.1016/j.irfa.2018.12.009

This paper examines the effects of culture and the interaction between cultural distance and salient acquirer characteristics on value creation of acquiring firms based on a sample of 209 firms over the period of 1998–2012. The findings indicate that... Read More about Cultural distance and value creation of cross-border M&A: The moderating role of acquirer characteristics.

State ownership, institutional effects and value creation in cross-border mergers & acquisitions by Chinese firms (2014)
Journal Article
Du, M., & Boateng, A. (2015). State ownership, institutional effects and value creation in cross-border mergers & acquisitions by Chinese firms. International Business Review, 24(3), 430-442. https://doi.org/10.1016/j.ibusrev.2014.10.002

This paper considers the effects of state ownership and institutional influences on value creation through cross-border mergers & acquisitions by Chinese firms during the period using a sample of 468 firms. The findings indicate that Chinese bidders... Read More about State ownership, institutional effects and value creation in cross-border mergers & acquisitions by Chinese firms.

Economic policy uncertainty and cost of capital: the mediating effects of foreign equity portfolio flow (2022)
Journal Article
Obenpong Kwabi, F., Owusu-Manu, S., Boateng, A., Ezeani, E.-B., & Du, M. (2022). Economic policy uncertainty and cost of capital: the mediating effects of foreign equity portfolio flow. Review of Quantitative Finance and Accounting, 59, 457-481. https://doi.org/10.1007/s11156-022-01046-y

We investigate whether economic policy uncertainty and the interaction of foreign equity portfolio flow and economic policy uncertainty impact the cost of capital. Using panel data of 20 countries from 2001 to 2018, we find economic policy uncertaint... Read More about Economic policy uncertainty and cost of capital: the mediating effects of foreign equity portfolio flow.

The impact of state ownership, formal institutions and resource seeking on acquirers’ returns of Chinese M&A (2015)
Journal Article
Du, M., Boateng, A., & Newton, D. (2016). The impact of state ownership, formal institutions and resource seeking on acquirers’ returns of Chinese M&A. Review of Quantitative Finance and Accounting, 47(1), 159-178. https://doi.org/10.1007/s11156-015-0498-0

We examine the effects of state ownership, institutions and resource-seeking behavior on post-acquisition stock price returns of Chinese cross-border mergers and acquisitions over the period 1998–2008. Chinese acquiring firms experience negative retu... Read More about The impact of state ownership, formal institutions and resource seeking on acquirers’ returns of Chinese M&A.

Examining the Role of Artificial Intelligence, Financial Innovation, and Green Energy Transition in Enhancing Environmental Quality (2025)
Journal Article
Majeed, A., Xie, Y., Gao, C., Du, A. M., & Muniba. (2025). Examining the Role of Artificial Intelligence, Financial Innovation, and Green Energy Transition in Enhancing Environmental Quality. International Review of Economics and Finance, 100, Article 104092. https://doi.org/10.1016/j.iref.2025.104092

The growth of emerging economies has led to heightened environmental challenges, underscoring the importance of implementing sustainable technologies and clean energy transitions to alleviate the ecological consequences. Hence, this study explores th... Read More about Examining the Role of Artificial Intelligence, Financial Innovation, and Green Energy Transition in Enhancing Environmental Quality.

Modeling climate policy uncertainty into cryptocurrency volatilities (2025)
Journal Article
Ding, S., Wu, X., Cui, T., Goodell, J. W., & Du, A. M. (2025). Modeling climate policy uncertainty into cryptocurrency volatilities. International Review of Financial Analysis, 102, Article 104030. https://doi.org/10.1016/j.irfa.2025.104030

Climate change is a highly controversial topic within the socioeconomic context. Climate Policy Uncertainty (CPU) arises from the process of climate policies formulation and implementation. This uncertainty impacts financial market volatilities, incl... Read More about Modeling climate policy uncertainty into cryptocurrency volatilities.

Reevaluating Intermarket Connectedness: The Impact of Monday Return Calculations on Cryptocurrencies and Traditional Assets (2025)
Journal Article
Ali, F., Du, A. M., & Majeed, M. A. (2025). Reevaluating Intermarket Connectedness: The Impact of Monday Return Calculations on Cryptocurrencies and Traditional Assets. Finance Research Letters, 77, Article 107016. https://doi.org/10.1016/j.frl.2025.107016

Cryptocurrencies trade continuously, unlike traditional assets limited to weekdays, creating challenges in calculating Monday returns. This paper investigates the impact of four benchmark closing prices—Friday, Saturday, Sunday, and a weekend average... Read More about Reevaluating Intermarket Connectedness: The Impact of Monday Return Calculations on Cryptocurrencies and Traditional Assets.

Mitigating Financing Constraints under Economic Uncertainty: The Role of Implicit Government Guarantees in China (2025)
Journal Article
Bi, S., Wei, N., Du, A. M., & Zhou, T. (2025). Mitigating Financing Constraints under Economic Uncertainty: The Role of Implicit Government Guarantees in China. Research in International Business and Finance, 76, Article 102819. https://doi.org/10.1016/j.ribaf.2025.102819

In the context of economic policy uncertainty (EPU), firms face significant financing constraints, especially in accessing credit. To address this, governments often provide implicit government guarantees (IGG) to alleviate these constraints. This st... Read More about Mitigating Financing Constraints under Economic Uncertainty: The Role of Implicit Government Guarantees in China.

Harnessing Artificial Intelligence for Enhanced Environmental Sustainability in China's Banking Sector: A Mixed-Methods Approach (2025)
Journal Article
Siddik, A. B., Yong, L., Du, A. M., Vigne, S. A., & Sharif, A. (online). Harnessing Artificial Intelligence for Enhanced Environmental Sustainability in China's Banking Sector: A Mixed-Methods Approach. British Journal of Management, https://doi.org/10.1111/1467-8551.12901

Amid escalating global environmental challenges, the banking sector is increasingly turning to Artificial Intelligence (AI) to enhance Environmental Sustainability Performance (ESP). Our research examines the impact of AI adoption on ESP through the... Read More about Harnessing Artificial Intelligence for Enhanced Environmental Sustainability in China's Banking Sector: A Mixed-Methods Approach.

Digital credit and insurance: Improving economic well-being for rural households (2025)
Journal Article
Zhang, J., Chen, S., Goodell, J. W., & Du, A. M. (2025). Digital credit and insurance: Improving economic well-being for rural households. International Review of Economics and Finance, 98, Article 103912. https://doi.org/10.1016/j.iref.2025.103912

The integration of digital technologies in credit and insurance services has important implications for the economic well-being of rural households. This paper utilizes cross-sectional data from a 2022 survey conducted with 476 rural households in Ch... Read More about Digital credit and insurance: Improving economic well-being for rural households.

Internal business process governance and external regulation: How does AI technology empower financial performance? (2025)
Journal Article
Cheng, X., Du, A. M., Yan, C., & Goodell, J. W. (2025). Internal business process governance and external regulation: How does AI technology empower financial performance?. International Review of Financial Analysis, 99, Article 103927. https://doi.org/10.1016/j.irfa.2025.103927

We examine the impact of artificial intelligence (AI) technology on the financial performance of financial firms, focusing on the transmission role of business process governance from the perspective of corporate governance. We examine whether there... Read More about Internal business process governance and external regulation: How does AI technology empower financial performance?.

Driving total factor productivity: The spillover effect of digitalization in the new energy supply chain (2025)
Journal Article
Zhang, A., Min Du, A., & Lin, B. (2025). Driving total factor productivity: The spillover effect of digitalization in the new energy supply chain. Research in International Business and Finance, 75, Article 102764. https://doi.org/10.1016/j.ribaf.2025.102764

Digitalization assumes a crucial role in augmenting productivity within the new energy sector. However, whether this impelling effect can permeate the entire supply chain remains to be discussed. This study delves into the spillover effect of custome... Read More about Driving total factor productivity: The spillover effect of digitalization in the new energy supply chain.

Renaissance of Climate Policy Uncertainty: The Effects of U.S. Presidential Election on Energy Markets Volatility (2025)
Journal Article
Ding, S., Wang, A., Cui, T., & Du, A. M. (2025). Renaissance of Climate Policy Uncertainty: The Effects of U.S. Presidential Election on Energy Markets Volatility. International Review of Economics and Finance, 103866, Article 98. https://doi.org/10.1016/j.iref.2025.103866

The global community has witnessed a burgeoning anxiety for accommodating the current climate changes. This heightened awareness has evoked a resurgence in the formulation and implementation of climate policies. Political events like the U.S. preside... Read More about Renaissance of Climate Policy Uncertainty: The Effects of U.S. Presidential Election on Energy Markets Volatility.

Agricultural transformation: Exploring the impact of digitalization, technological innovation and climate change on food production (2025)
Journal Article
Chandio, A. A., Akram, W., Min Du, A., Ahmad, F., & Tang, X. (2025). Agricultural transformation: Exploring the impact of digitalization, technological innovation and climate change on food production. Research in International Business and Finance, 75, Article 102755. https://doi.org/10.1016/j.ribaf.2025.102755

Agricultural transformation is crucial for achieving the United Nations Sustainable Development Goals. Sustainable food production has become a key driver of this transformation, with China playing a vital role as a major global food producer. We inv... Read More about Agricultural transformation: Exploring the impact of digitalization, technological innovation and climate change on food production.

Analyzing Financial Market Reactions to the Palestine-Israel Conflict: An Event Study Perspective (2025)
Journal Article
Ijaz, M. S., Ali, S., Du, A. M., & Khurram, M. (2025). Analyzing Financial Market Reactions to the Palestine-Israel Conflict: An Event Study Perspective. International Review of Economics and Finance, 98, Article 103864. https://doi.org/10.1016/j.iref.2025.103864

e use event study methodology to examine how the Palestine-Israel Conflict affected equities, metals, energy, fiat, and crypto currencies. The findings highlight the susceptibility of the stock markets in Germany, the United Arab Emirates, Bahrain, a... Read More about Analyzing Financial Market Reactions to the Palestine-Israel Conflict: An Event Study Perspective.

How do firms respond to climate change? Evidence based on ESG performance (2025)
Journal Article
Xue, M., Lu, M., Du, A. M., & Zheng, B. (2025). How do firms respond to climate change? Evidence based on ESG performance. International Review of Economics and Finance, 98, Article 103863. https://doi.org/10.1016/j.iref.2025.103863

Climate change has become an unavoidable external force influencing firms’ operations by reshaping policy environments and raising societal expectations. As a result, firms are compelled to adopt measures to address these challenges. This study exami... Read More about How do firms respond to climate change? Evidence based on ESG performance.

ESG stock markets and clean energy prices prediction: Insights from advanced machine learning (2024)
Journal Article
Ghallabi, F., Souissi, B., Du, A. M., & Ali, S. (2025). ESG stock markets and clean energy prices prediction: Insights from advanced machine learning. International Review of Financial Analysis, Article 103889. https://doi.org/10.1016/j.irfa.2024.103889

In the post-Paris agreement, the clean energy market has grown significantly due to its undeniable environmental sustainability. Therefore, this study aims to predict clean energy stock prices by analyzing ESG stock markets in ten countries using a b... Read More about ESG stock markets and clean energy prices prediction: Insights from advanced machine learning.

Market mechanisms for energy transition: Fossil energy price shocks and irrational renewable energy financing (2024)
Journal Article
Wang, A., Du, A. M., & Lin, B. (2025). Market mechanisms for energy transition: Fossil energy price shocks and irrational renewable energy financing. Journal of International Money and Finance, 151, 103251. https://doi.org/10.1016/j.jimonfin.2024.103251

China is taking a leading role in the renewable energy industry and is dedicated to promoting the market-based operation mechanism of the energy transition. Nearly all media attribute it to industrial policies; however, this is insufficient to explai... Read More about Market mechanisms for energy transition: Fossil energy price shocks and irrational renewable energy financing.

The Value of Being Greener: Untangling the Relationship between Environmental Investment and Firms’ Access to Trade Credit (2024)
Journal Article
Li, W., Hua, X., Boateng, A., Wang, Y., & Du, M. (online). The Value of Being Greener: Untangling the Relationship between Environmental Investment and Firms’ Access to Trade Credit. British Journal of Management, https://doi.org/10.1111/1467-8551.12883

This study investigates the relationship between corporate environmental performance, as captured by environmental investment, and firms’ access to trade credit. Using data from Chinese listed firms in heavy pollution industries, we find that corpora... Read More about The Value of Being Greener: Untangling the Relationship between Environmental Investment and Firms’ Access to Trade Credit.