Can a recession have a positive, long-term impact on firm innovation? A downturn represents an opportunity for firms to learn from their peers and try to understand the main drivers of resilience. If they deem R&D capital one of them, they may raise innovation in the following years, in order to...

Objective: This study investigates the impact of internationalisation on the indebtedness of construction companies in the Americas. We measured internationalisation as the share of exports in total revenues, reflecting a firm's engagement in cross-border sales. Research Design & Methods: The...

We propose a new approach to identify firm-level financial constraints by applying artificial intelligence to text of 10-K filings by U.S. public firms from 1993 to 2021. Leveraging transformer-based natural language processing, our model captures contextual and semantic nuances often missed by...