Problem definition: In an era of rapid technology advancement, the role of research and development (R&D) has become increasingly crucial for a firm's growth. Despite its importance, some firms, especially small and medium enterprises (SMEs), suffer from financial constraints and cannot invest...

Given the increasing focus on global sustainable development, many enterprises in developing countries such as China participate in green governance and scale up their green investment; however, many enterprises still experience financing difficulties. Our study investigates whether green...

This paper examines the sensitivity of investment to cash flow in declining economic conditions, focusing on the impact of a firm's reliance on bank debt. Using the context of Jordan, a developing Middle East and North Africa (MENA) country, the study utilizes the standard Q theory of investment...

The present study aims to examine the relationship between dividend policy and earnings management by explicitly considering the role of the agency problem and financing constraints. The sample comprises 3250 non-financial Chinese listed firms from 2009 to 2018. This study uses fixed- and random...

Due to increasing pressure from stakeholders, managers face many hurdles in transforming their businesses to advance corporate sustainability. This study explores the relationship between the ability of so-called "change agents for sustainability" with sustainability performance (SP),...

Do financial constraints amplify or dampen the transmission of monetary policy to the real economy? To answer this question, we propose a simple empirical strategy that combines (i) firm-level employment and balance sheet data, (ii) identified monetary policy shocks and (iii) survey data on...

We explore the intertwined dynamics of asset prices and the macroeconomy in a Behavioural model of Credit Cycles (BCC) characterized by a credit friction à la Kiyotaki and Moore and heterogeneous expectations cum heuristic switching à la Brock and Hommes. This behavioural approach allows to...