This study examines the effect of environment, social and governance (ESG) performance on firms' cost of debt (COD) internationally. Using a sample comprising of 18,950 observations over a period between 2008 and 2015 across 41 countries, we find a significant negative association between...

We examine the economic rationale for the use of investment banking syndicates in mergers and acquisitions. We find that syndicates are more likely to be hired in more complex transactions and in deals where acquirers have greater demand for external acquisition-related financing. Compared to...

We examine the impact of social trust on commercial loan grants and the default risk of regional commercial banks in China. Using exogenous shocks arising from bank branch deregulation in 2009 and re-regulation in 2013, we find that social trust moderates the effect of bank regulation changes on...