This paper investigates whether institutional investors promote the abatement of corporate
carbon emissions. Using firm-level data on the U. S from 2007 to 2017, we find that …

We examine the impact of political connections on the investment decisions of Chinese
mutual funds. We identify a direct link between mutual funds' political connections and …

This paper studies how the conflict of interest between shareholders and creditors affects
corporate payout policy. Using mergers between lenders and equity holders of the same firm …

This paper examines how improved public credit information arrangements affect
entrepreneurial activities and interact with traditional informal institutions. From 2015 to …

We investigate the influence of simultaneous equity holdings by creditors (dual holders) on
investment efficiency. Such creditors have stronger incentives and power to monitor firm …

We study whether borrowers' opaque practices, such as tax aggressiveness, are affected by
their lenders' engagement in mergers and acquisitions (M&As). Our findings suggest that …

We document a novel trend in syndicated lending where some participants voluntarily waive
their rights to borrowers' private information. We posit that “public-side” lending emerged to …

Integrating national accounting with financial accounting, we provide firm-specific estimates
of current-cost capital stocks for the entire Compustat universe, as well as an array of …

I study the empirical importance of debt overhang using a unique data set on resource
extraction firms that provides ex ante measures of investment opportunities and important …

I use data on all public firms in the US and their owners to construct a" modified Herfindahl-
Hirschman Index"(MHHID) of market concentration that is based on the network of …