Inclusive Finance and Corporate Innovation

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074).

Deadline for manuscript submissions: 31 July 2025 | Viewed by 2748

Special Issue Editors


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Guest Editor
Henley Business School, University of Reading, Reading, UK
Interests: accounting; finance

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Guest Editor
School of Public Administration, Southwestern University of Finance and Economics, Chengdu, China
Interests: energy transition and sustainable development
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Guest Editor
Research Center of Finance, Shanghai Business School, Shanghai, China
Interests: risk management; fintech; green finance; investor sentiment; financial markets; corporate finance; art finance
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Special Issue Information

Dear Colleagues,

In the evolving landscape of global economic transformation, inclusive finance and corporate innovation stand out as key drivers of sustainable growth. Inclusive finance promotes economic participation and resilience by enabling access to finance for underrepresented groups, such as women and minority entrepreneurs, and marginalized communities. Corporate innovation, on the other hand, drives economic growth through technological advancements, process improvements, and novel business models. This Special Issue seeks to bridge these two important themes and explore their distinct and interconnected roles in advancing sustainable economic development.

We welcome high-quality theoretical and empirical contributions from diverse disciplines, including finance, economics, business studies, and policy research. This Special Issue places emphasis on studies that advance understanding in the following key areas: inclusive financial systems and financial technologies (fintech) in promoting inclusion, innovative business models addressing market disparities, the role of corporate innovation in driving sustainability, access to credit for disadvantaged communities, and gender equality in finance.

Dr. Xing Huang
Prof. Dr. Ding Li
Prof. Dr. Xiang Gao
Guest Editors

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Keywords

  • corporate innovation
  • financial inclusion
  • access to finance
  • fintech
  • Sustainable Development Goals (SDGs)
  • Social (In)equality

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Published Papers (1 paper)

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Research

18 pages, 262 KiB  
Article
How Retail vs. Institutional Investor Sentiment Differ in Affecting Chinese Stock Returns?
by Jiayi Cui, Qian Wei and Xiang Gao
J. Risk Financial Manag. 2025, 18(2), 95; https://doi.org/10.3390/jrfm18020095 - 12 Feb 2025
Viewed by 2403
Abstract
This paper evaluates the impact of retail investors’ bullish sentiment in comparison to that of financial institutions on the return of Chinese CSI 300 index stocks over the period of 2015 to 2023. We document several regularities. First, the stronger the retail (institutional) [...] Read more.
This paper evaluates the impact of retail investors’ bullish sentiment in comparison to that of financial institutions on the return of Chinese CSI 300 index stocks over the period of 2015 to 2023. We document several regularities. First, the stronger the retail (institutional) investors’ bullish sentiment, the lower (higher) the stock returns, and such contrasting associations hold after an array of robustness tests. Second, mechanism test results show that the retail and institutional investor sentiments affect stock returns mainly by influencing the analysts’ attention and the equity liquidity. Third, heterogeneity analyses reveal that the adverse effect of retail investors’ bullish sentiment on stock returns becomes more prominent for non-state-owned, manufacturing, and non-heavily polluted enterprises, but the positive effect of the emotions expressed by institutional investors on stock returns is greater for non-state-owned, non-manufacturing, and heavily polluted enterprises. Therefore, this paper sheds light on detailing of investor sentiment types and hedging investment risks. Full article
(This article belongs to the Special Issue Inclusive Finance and Corporate Innovation)
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