The key to determining whether green bonds have a positive impact is to examine whether firms issuing green bonds actually increase their green investments or merely pretend to do so, i.e., engage in greenwashing. We find that issuing green bonds increases the quantity of companies’ green...

Recent studies bring to the attention that blockholders exert governance through exit threats. Blockholders have strong incentives to reduce their shareholding on perceiving managerial underperformance, which in turn require managers to align their actions with the interests of shareholders. In...

Purpose Based on the textual-analyzed data covering 2148 IPO firms in China's stock market during the 2007-2018 period, the authors' purpose is to examine the influence of anti-takeover provision (ATP) adoption on initial public offerings (IPO) underpricing and identify the reducing effect of...