We find that firms headquartered in U.S. counties with higher levels of social capital incur lower bank loan spreads. This finding is robust to using organ donation as an alternative social-capital measure and incremental to the effects of religiosity, corporate social responsibility, and tax...

This paper investigates the role of corporate boards in bank loan contracting. We find that when corporate boards are more independent, both price and nonprice loan terms (e.g., interest rates, collateral, covenants, and performance-pricing provisions) are more favorable and syndicated loans...

The new lease standard (Accounting Standards Codification [ASC] 842), which is expected to alleviate the reporting issues associated with operating leases, requires formal recognition of related assets and liabilities on the balance sheet. Disregarding the considerable controversy surrounding...