We examine the impact of government commitment to combating climate change on firm value in relation to a firm's climate risk exposure. We identify major recent regulatory events around climate change that are not fully predicted, including the surprise election of Donald Trump to President of...

We examine the influence of institutional investors' investment horizons on a firm's cost of equity. We argue that the cost of equity will decrease in the presence of institutional investors with longer-term investment horizons due to improved monitoring and information quality. Our empirical...

This study provides novel evidence of the impact of corporate social responsibility (CSR) on investment sensitivity to cash flows. We posit that CSR affects investment–cash flow sensitivity (ICFS) through information asymmetry and agency costs, commonly viewed as the two channels through which...