This paper examines whether and how business diversification affects financialization in
non-financial corporations. Using data from the Chinese market, we find that business …

The ongoing debate on optimal capital structure is one of the core issues of corporate
finance literature since it is initially and academically presented by Modigliani and Miller …

Based on a partial target adjustment model and the trade-off theory, this paper investigates
whether the influence of macroeconomic variables of monetary policy on corporate leverage …

This paper explores the relationship between family ownership and a firm's leverage from
the socioemotional wealth (SEW) theory. We propose that SEW objectives (ie, family control …

Prior review papers on corporate diversification have mostly explored the diversification-
performance linkage but not the effects of diversification on various financing aspects of …

We examine whether diversification is valuable in reducing the cost of debt for COVID-19-
exposed firms. We find that although the pandemic has increased firms' borrowing costs …

This study investigates the interrelationship between bank regulatory capital and bank
diversification. We argue that regulatory capital might act as a substitutive mechanism of …

Female leadership in strategic decision-making has received considerable attention in the
context of global gender inequality. To advance our understanding of the role of executive …

This paper examines the role of debt financing in the relationship between corporate
governance and research and development (R&D) investment using a sample of publicly …

Corporate leverage is an indicator of economic health, and this topic has attracted a great
deal of attention since the international financial crisis of 2008. This paper constructs a …