We investigate the association between fund exposure of economic policy uncertainty (EPU) and flows of exchange-traded funds (ETFs) using a unique sample of U.S. global ETFs from 2012 to 2018. We find that fund exposure of EPU is negatively associated with flows after controlling for returns,...

Using a large sample of firms across 35 countries from 2001 to 2021, we show a significantly positive association between a firm's climate risk exposure and speed of leverage adjustment. A plausible explanation is that climate risk exposure mitigates agency conflicts and improves information...

We investigate the effect of the accelerated depreciation Policy (ADP) on the corporate social responsibility (CSR) of Chinese A-share firms from 2010 to 2016. The results of difference-in-differences estimation reveal that the ADP has a considerable effect on CSR performance, particularly in...