Showing 1 - 10 of 19
Persistent link: https://www.econbiz.de/10001178925
Persistent link: https://www.econbiz.de/10001898237
Persistent link: https://www.econbiz.de/10015164434
Research on capital structure and product market interactions shows that high leverage is associated with substantial losses in market share due to unfavorable actions by customers and competitors. We examine whether corporate social responsibility (CSR) affects firms' interactions with...
Persistent link: https://www.econbiz.de/10012901975
The high costs of disclosing confidential information lead firms with proprietary information to prefer private debt (bank loan) to public debt (corporate bond). We provide empirical evidence supporting this proposition using the staggered adoption of the inevitable disclosure doctrine (IDD) by...
Persistent link: https://www.econbiz.de/10013231143
Persistent link: https://www.econbiz.de/10012162480
Persistent link: https://www.econbiz.de/10012650452
The stock market should fund promising new firms, thereby breeding competition, innovation, and economic growth. However, using three decades of data from 47 countries, we show that concentrated stock markets dominated by a small number of very successful firms are associated with less efficient...
Persistent link: https://www.econbiz.de/10012827941
Persistent link: https://www.econbiz.de/10012820853
We investigate ratings quality across uncertain and normal times proxied by variations in economic policy uncertainty. We find that increased policy uncertainty is associated with weaker rating standards. This finding is unrelated to variations in macroeconomic conditions and holds when we use...
Persistent link: https://www.econbiz.de/10013288864