Purpose - Political factors play a crucial role in China's initial public offering (IPO) market due to its distinctive institutional context (i.e. "economic decentralization" and "political centralization"). Given the significant level of IPO underpricing in China, we examine the impact of local...

The choice between short- and long-term debt impacts a firm's financial flexibility and its capacity for sustainable investment. This study examines how Initial Public Offerings (IPOs) and main bank relationships shape debt maturity structures, focusing on Japanese firms listed on the Tokyo...

This paper empirically analyzes market reactions to first-time issuances of green bonds and first-time disclosures of green bond frameworks of 45 large, listed European banks and insurers with an event study. Covering recent regulatory developments of the European Green Bond Standard, we...

Amazonia, the world's largest tropical rainforest region, plays a critical role in global bio-diversity, climate regulation, and sustaining the livelihoods of millions of people, including Indigenous peoples (IP), Afro-descendants (AD), and traditional communities (TC). It faces several complex...

We construct a novel panel dataset on insider ownership for about 600 U.S. bank holding companies from 2003 to 2014 and evaluate whether ownership structure influences banks' equity composition and recapitalization decisions around the Global Financial Crisis (GFC). Before the crisis, banks with...

This study examines the too-big-to-fail expectations in the primary market issuance spreads of commercial bank tier-2 capital bonds and additional tier-1 capital bonds in China. Using a sample of 574 issuances with total amount of 4.76 trillion RMB (749 billion USD), we conduct median...

This study explores the impact of IPO prospectus language on the prevalent underpricing in European IPOs, using natural language processing techniques. Specifically, it investigates whether a relationship exists between litigious, negative, positive, and uncertain language, as well as the degree...

This study aims to determine whether the involvement of prestigious attorneys in issuing companies afects withdrawals in the initial public ofering (IPO) market. There is little evidence on how the involvement of famous lawyers afects IPO withdrawal. The study considers a large dataset...

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...

Whether registration system reform (RSR) can curb administrative intervention and create a fair market environment has long been a concern in China. We explore this issue from the perspective of the initial public offering (IPO) preference based on the entropy balancing method, and findings are...