An emerging stream of literature investigates the impact of political uncertainty on financial
markets. In this survey, we review this line of literature from four perspectives, namely, asset …

We propose a text‐based method for measuring the cross‐border propagation of large
shocks at the firm level. We apply this method to estimate the expected costs, benefits, and …

Using panel data of 42 countries from 2001 to 2019, we examine whether political
uncertainty (caused by uncertainty about national elections) explains variations in cross …

We empirically examine the effects of economic policy uncertainty (EPU) on earnings
management in Japan. We find that EPU is negatively associated with earnings …

This paper adopts the tail-event driven network (TENET) framework to explore the
connectedness and systemic risk of the banking industry along the Belt and Road (B&R) …

In this paper, we examine the impact of trade and financial openness on bank loan pricing.
Using data from 35 emerging economies, we first document that higher trade and financial …

Abstract Research Summary We draw on the political institutions approach and relational
embeddedness perspective to advance a relational theory of policy risk. We argue that …

Exploiting a novel measure of firm-level political risk based on earnings conference calls, we
examine the effect of firm-level political risk on stock liquidity. We show that liquidity …

This paper analyses how different entrepreneurial actors respond to political uncertainty and
changing institutional settings. Moreover, it discusses the impact of those actor-level …

This study examines the impacts of recent turbulent events (Brexit, COVID-19 pandemic, and
the Russia–Ukraine conflict) on the European banks' resilience. Using the quarterly data of …