This study employs China's judicial reform as a quasi-natural experiment to examine how judicial improvements affect corporate value. The findings reveal that: (1) compared with companies that were not affected by judicial reform, the market value of companies affected by judicial reform...

This study examines the relationship between environment, social responsibility, and governance (ESG) information disclosure and firms' value. It also investigates how debt cost is the mediate variable between the ESG and firms' value. The content analysis supported sustainability development...

This study examines factors influencing full (FP) versus partial (PP) privatization and how markets respond to government control in PP and FP firms. Exploiting China's 2005 NTS reform as a natural experiment, we find that treated PP firms experienced significantly lower post-reform performance,...

Understanding how firms finance their activities is crucial for fostering economic growth. The financial life cycle is a critical framework for understanding how firms' financing needs and strategies evolve over time. This paper examines the capital structure choices of Italian SMEs focusing on...

This study examines the effect of tax complexity on the market value of publicly traded firms. Using firm-level measures of tax complexity, we find that a one standard deviation increase in tax complexity-comparable in magnitude to the rise following the U.S. Tax Cuts and Jobs Act-is associated...

This paper investigates the financial performance and corporate governance variables that influence firm valuation. This study analyzes 91 Spanish small and medium-sized enterprises (SMEs) listed on BME Growth using a fixed effects panel data model based on 5760 observations. This study covered...

Purpose: The acquirer's corporate environmental performance (CEP) in mergers and acquisitions has been a subject of debate, yielding mixed results. This paper uses the US firm-level data of 1437 M&A deals from 2002-2019 to examine the impact of overall CEP, resource use, emissions, and...

This study investigates the interdependencies between debt capital and dividend policy as complementary factors influencing firm value among corporations listed on the Korea Composite Stock Price Index (KOSPI). Using Tobin's Q as a firm value metric and employing robust econometric techniques...

This study uses a novel measure of climate change exposure at the firm level to investigate the impact of climate change on the value of Asia-Pacific non-financial firms. We examine whether increased carbon disclosure mitigates this impact. The findings reveal that a one-standard-deviation...

This study conducts a comprehensive bibliometric analysis and systematic review to investigate the moderating variables that influence the relationship between Environmental, Social, and Governance (ESG) measures, Corporate Social Responsibility (CSR) measures, and Corporate Financial...

This study examines the causal and dynamic effects of carbon information disclosure on firm value, using a policy-driven setting in China's carbon-intensive industries. In 2018, the Ministry of Ecology and Environment implemented a regulatory policy requiring internal carbon accounting and...

This work offers novel insights into how the introduction of the Non-Financial Reporting Directive in the European Union in 2014 affected firm value. Based on the theoretical discourse, it seems ex-ante unclear how this ESG disclosure directive is perceived by capital markets and affects firm...

This study investigates the nonlinear relationship between capital structure and firm value using data from manufacturing firms listed on Borsa Istanbul over the period 2005 to 2023. We use a novel methodology, the Method of Moments Quantile Regression (MMQR), and perform several robustness...

This study examines the impact of corporate sustainable tax strategies on investment scale and firm value using signaling theory. We measure Sustainable tax strategy through the coefficient of variation of cash effective tax rates over a five-year period. Using 3121 firm-year observations of...