Abstract Corporate bonds are an attractive option for corporate financing. However, current bond markets face many challenges and inefficiencies, resulting in high transaction costs (TAC). In recent years, technological advancements like blockchain technology have enabled the possibility of...

This study examines the impact of debt financing on the productivity of capital invested and the mediating role of corporate investment using data from manufacturing firms in China, Japan and the United States. We find that firms that use more debt capital are less likely to make overinvestment....

This study examines the impact of debt financing on the productivity of capital invested and the mediating role of corporate investment using data from manufacturing firms in China, Japan and the United States. We find that firms that use more debt capital are less likely to make overinvestment....