This paper investigates the impact of corporate governance and culture background on
firms' environmental performance and CSR disclosure from a global perspective. It provides …

A comprehensive look at the enormous growth and evolution of distressed debt markets,
corporate bankruptcy, and credit risk models This Fourth Edition of the most authoritative …

Firms increasingly rely on alternative finance (AF) in addition to banks and equity markets,
and its usage across countries differs significantly. We conceptualize AF as financing that …

Social relationship and business connections create implicit benefits between borrowers
and lenders. We model how implicit benefits and repayment enforcement costs influence …

Financing practices have, over time, grown to become increasingly versatile and complex.
Apart from conventional formal finance channels, such as banks and raising equity though …

Using data on the universe of US based mutual funds, we find that two out of five fund
families hold corporate bonds of firms in which they also own an equity stake. We show that …

This study sheds light on agency conflicts between creditors and shareholders and their
effect on a firm's corporate social responsibility (CSR) performance. We find that the …

We introduce ambiguity about the asset value dynamics of a firm into a trade-off framework
of capital structure. We characterize investors' preferences by recursive multiple priors utility …

Lenders' simultaneous equity holdings introduce conflicts of interest among members of
syndicated loans. We argue that lenders address such within-syndicate conflicts with …

We show that higher conflicts of interest between shareholders and creditors create limits to
arbitrage by increasing short-sale constraints in equity lending markets. Using the presence …