We evidence a non-linear relationship between firm value and corporate social responsibility, adding to the mixed evidence on this relationship. We show that corporate social responsibility exhibits a dynamic process, which is largely dependent on a firm's industry, relative standing amongst...

If investors perceive dividend changes as providing signals about specific firms' future prospects, it can be argued that the magnitude of stock price reactions to dividend change announcements will vary with the relative importance of the firms' specific information in their return dynamics. We...

We analyse interactions of simultaneous shifts in comprehensive balance sheet items annually and identify common (latent) factors, which are consistent across years. Five factors are interpreted to reflect five major decisions in businesses: Financial Flexibility, Short-term Credit, Long-term...

We find that Chinese public firms surrounded by a higher number of Buddhist and Taoist temples are associated with relatively lower expected default risk (EDF). In contrast to the widely documented impact of Western religiosity on corporate behaviors, our mechanism tests indicate that lower EDF...

This study attempts to asses firms' financial conditions to explain why they use myopic R&D cuts. Contrary to prior literature, this study shows that the current financial indicators of firms are also significant determinants of R&D myopic management along with stock market. Financial indicators...