A large amount of activity in the financial sector occurs in secondary financial markets,
where securities are traded among investors without capital flowing to firms. The stock …

This article reviews empirical capital structure research, concentrating on papers published
since 2005. We begin by documenting three dimensions of capital structure variation: cross …

内容提要: 本文研究风险投资机构对上市公司投融资行为的影响机制和作用效果, 结果发现:
风险投资的加入不仅可以抑制公司对自由现金流的过度投资, 而且可以增加公司的短期有息债务 …

Using legitimacy and institutional theories, this study investigates whether lending
institutions reward firms in 15 EU countries for their environmental, social and governance …

We model investing that considers environmental, social, and governance (ESG) criteria. In
equilibrium, green assets have low expected returns because investors enjoy holding them …

Green credit policy has been increasingly critical in easing financing restraints on green
innovation. China's Green Credit Guidelines (GCGs) limit loans to industries with high …

Macro-finance analyses commonly link firms' borrowing constraints to the liquidation value
of physical assets. For US nonfinancial firms, we show that 20% of debt by value is based on …

We investigate the relationship between corporate social responsibility (CSR) and firm-level
capital allocation efficiency. Using seminal investment-Q framework, we provide evidence …

The neoclassical theory of investment has mainly been tested with physical investment, but
we show that it also helps explain intangible investment. At the firm level, Tobin's q explains …

This article asks how sustainable investing contributes to societal goals, conducting a
literature review on investor impact—that is, the change investors trigger in companies' …