Purpose The ownership structure in Japanese firms has experienced a significant change recently, fueled primarily by regulatory changes. This has important repercussions on corporate performance and risk. This paper examines the impact of insider ownership on the default risk of Japanese firms....

We investigate the impact of green innovation on default risk for the period 2003–2020. Using 15,015 firm-year observations from 2,301 unique U.S. firms and a firm-fixed effects regression model, we find that firms with higher green innovation experience lower default risk as measured by the...