We examine the relationship between economic policy uncertainty, information disclosure and stock liquidity using a large sample of Chinese firms. We first establish that economic policy uncertainty leads to declining stock liquidity. Next, we provide evidence that managers respond to...

We examine the impact of economic policy uncertainty on innovation using cross-country industry data and how country institutions moderate this relationship. Our findings show that economic policy uncertainty impedes innovation output and quality. Our study uncovers three economic mechanisms...

Policymakers and managers have increasingly adopted green bonds as a direct fnancing tool to address environmental degradation and climate change in emerging economies; however, the increasing green washing sentiments in the green bond market raise questions on whether green bonds can nudge...

Exploiting the staggered adoption of corporate social responsibility (CSR) disclosure laws as a quasi-natural experiment and the difference in difference(DID) approach, we find that firms in countries that adopted CSR disclosure laws increased their green innovation output and quality relative...

As the second-largest economy in the world with both high-energy consumption and high carbon emission, China has launched several green finance pilot zones (GFPZ) targeting regional sustainable development goals (SDGs). Despite critical policy significance, whether and how green finance affects...

We analyze the real effects of the environmental regulation on technological innovation using a sample of Chinese firms. We leverage the Air Pollution Prevention Policy as a quasi-natural experiment that is plausibly exogenous to the firms’ innovation policy and use the difference in...

We examine the impact of ownership concentration, firm life cycle, and family ownership on leverage using a sample of listed Italian firms. The study findings reveal that family businesses in Italy have high ownership concentration and use less debt than non-family firms. The study results show...

We examine the impact of ownership concentration, firm life cycle, and family ownership on leverage using a sample of listed Italian firms. The study findings reveal that family businesses in Italy have high ownership concentration and use less debt than non-family firms. The study results show...

This study employs the fixed effects identification strategy to examine the differential effects of financial institutions vs. financial markets on technological innovation in understudied African markets using a large country-industry sample. We provide evidence that the incentive effect of...

This study examines the role of board networks in promoting stock liquidity in periods of heightened economic policy uncertainty using a sample of Brazilian firms from 2002-2018. Firstly, the findings show that economic policy uncertainty disproportionately contributes to stock illiquidity. This...