This paper uses surveys to document CFO perspectives on corporate planning, investment,
capital structure, payout, and shareholder versus stakeholder focus. Comparing policy …

Using the first reported case of COVID-19 in a given US county as the event day, we find that
firms headquartered in an affected county experience, on average, a 27-bps lower return in …

Financial flexibility refers to the ability of a firm to respond effectively to unanticipated shocks
to its cash flows or its investment opportunities and is a key factor in the sustainable …

We develop an efficient sampling approach for handling complex missing data patterns and
a large number of missing observations in conditionally Gaussian state space models. Two …

This study examines the impact of cash‐flow uncertainty on corporate dividend payouts and
how this impact is shaped by country‐level institutional environments. Employing a large …

Economic fallouts from COVID-19 have been unprecedented across all industries, with a
handful of exceptions. The present study attempts to capture the impact of dividend …

The lack of predictability of aggregate dividends by the traditional dividend-price ratio has
long been considered a puzzle-“the dog that did not bark,” Cochrane (2008a). I show that …

Share repurchases have been widely used in global markets for years for various purposes
such as to pay out cash, to stabilize stock prices, and so on. However, their use has recently …

Pandemic disease outbreaks generate economic disruptions and impact on liquidity needs
of firms. However, how pandemics affect liquidity management policies of firms has received …

We quantify the FinTech development level by textual analysis. The results show that the
intensification of the COVID epidemic adversely affects corporate investment efficiency, but …