Does the implementation of green credit policy improve the ESG performance of enterprises? Evidence from a quasi-natural experiment in China
N Lei, Q Miao, X Yao - Economic Modelling, 2023 - Elsevier
The extant literature has largely overlooked how green credit policy (GCP) affects corporate
environmental, social, and governance (ESG) performance, which is important in assessing …
environmental, social, and governance (ESG) performance, which is important in assessing …
Conglomerate firms, internal capital markets, and the theory of the firm
V Maksimovic, GM Phillips - Annu. Rev. Financ. Econ., 2013 - annualreviews.org
This article reviews the conglomerate literature, with a focus on recent papers that have cast
strong doubt on the hypothesis that conglomerate firms destroy value on average when …
strong doubt on the hypothesis that conglomerate firms destroy value on average when …
Real effects of climate policy: Financial constraints and spillovers
We document that localized policies aimed at mitigating climate risk can have unintended
consequences due to regulatory arbitrage by firms. Using a difference-in-differences …
consequences due to regulatory arbitrage by firms. Using a difference-in-differences …
[PDF][PDF] Agency, information and corporate investment
JC Stein - Handbook of the Economics of Finance, 2003 - cfrn.com.cn
This essay surveys the body of research that asks how the efficiency of corporate investment
is influenced by problems of asymmetric information and agency. I organize the material …
is influenced by problems of asymmetric information and agency. I organize the material …
Firm boundaries matter: Evidence from conglomerates and R&D activity
A Seru - Journal of financial economics, 2014 - Elsevier
This paper examines the impact of the conglomerate form on the scale and novelty of
corporate Research and Development (R&D) activity. I exploit a quasi-experiment involving …
corporate Research and Development (R&D) activity. I exploit a quasi-experiment involving …
Internal capital markets in business groups: Evidence from the Asian financial crisis
This paper examines capital reallocation among firms in Korean business groups (chaebol)
in the aftermath of the 1997 Asian financial crisis, and the consequences of this capital …
in the aftermath of the 1997 Asian financial crisis, and the consequences of this capital …
Diversification and financialization of non-financial corporations: Evidence from China
This paper examines whether and how business diversification affects financialization in
non-financial corporations. Using data from the Chinese market, we find that business …
non-financial corporations. Using data from the Chinese market, we find that business …
Segment profitability and the proprietary and agency costs of disclosure
We exploit the change in US segment reporting rules (from SFAS No. 14 to SFAS No. 131) to
examine two motives for managers to conceal segment profits: proprietary costs and agency …
examine two motives for managers to conceal segment profits: proprietary costs and agency …
Impact of COVID-19 exposure on working capital management: The moderating effect of investment opportunities and government incentives
A Tarkom - Finance Research Letters, 2022 - Elsevier
This study examines the impact of the COVID-19 pandemic on firms' working capital
management (WCM) covering 2,542 US-publicly traded firms for the period 2019Q1 …
management (WCM) covering 2,542 US-publicly traded firms for the period 2019Q1 …
The impact of SFAS No. 131 on information and monitoring
We investigate the effect of the Financial Accounting Standards Board's (FASB) new
segment reporting standard on the information and monitoring environment. We compare …
segment reporting standard on the information and monitoring environment. We compare …