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Sadok El Ghoul

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Working papers

  1. Mohamed Arouri & Sadok El Ghoul & Mathieu Gomes, 2021. "Greenwashing and product market competition," Post-Print hal-03106623, HAL.

    Cited by:

    1. Isaac K. Ofori & Emmanuel Gbolonyo & Nathanael Ojong, 2022. "Towards Inclusive Green Growth in Africa: Critical energy efficiency synergies and governance thresholds," Working Papers of the African Governance and Development Institute. 22/043, African Governance and Development Institute..
    2. Shawn Pope & Jonathan Peillex & Imane El Ouadghiri & Mathieu Gomes, 2024. "Floodlight or Spotlight? Public Attention and the Selective Disclosure of Environmental Information," Journal of Management Studies, Wiley Blackwell, vol. 61(4), pages 1230-1265, June.
    3. Li, Weiping & Shi, Chang & Xiao, Zhongyi & Zhang, Xuezhi, 2024. "Bridging the green gap: How digital financial inclusion affects corporate ESG greenwashing," Finance Research Letters, Elsevier, vol. 69(PA).
    4. Chen, Yanpeng & Masron, Tajul Ariffin, 2025. "The role of media visibility in mitigating greenwashing driven by executive environmental cognition: Evidence from China," Finance Research Letters, Elsevier, vol. 74(C).
    5. Chi, Cheng & Cheng, Yang, 2026. "The dynamics of selective environmental disclosure: Earnings pressure and environmental committee," Journal of Business Research, Elsevier, vol. 202(C).
    6. Ji, Heli & Yu, Zhihai & Tian, Grace (Li) & Wang, David (Han) & Wen, Yue, 2025. "Market competition, environmental, social and corporate governance investment, and enterprise green innovation performance," Finance Research Letters, Elsevier, vol. 77(C).
    7. Yang, Yongliang & Zhang, Jitao & Song, Changting & Wu, Yingying & Zhang, Bingbing, 2025. "Does environmental information disclosure make financial markets more informative? Evidence from China," Journal of Contemporary Accounting and Economics, Elsevier, vol. 21(2).
    8. Richard Paul Gregory, 2024. "How Greenwashing Affects Firm Risk: An International Perspective," JRFM, MDPI, vol. 17(11), pages 1-30, November.
    9. Ofori, Isaac K. & Gbolonyo, Emmanuel Y. & Ojong, Nathanael, 2023. "Foreign direct investment and inclusive green growth in Africa: Energy efficiency contingencies and thresholds," Energy Economics, Elsevier, vol. 117(C).
    10. Ye, Yong & Gao, Mengyang & Luo, Runmei, 2024. "Bright is the moon over my home village: Chinese local executives and environmental decoupling," Global Finance Journal, Elsevier, vol. 62(C).
    11. Zhang, Dongyang & Wang, Jinli & Wang, Yizhi, 2023. "Greening through centralization of environmental monitoring?," Energy Economics, Elsevier, vol. 123(C).
    12. Mathieu Gomes & Sylvain Marsat & Jonathan Peillex & Guillaume Pijourlet, 2023. "Does religiosity influence corporate greenwashing behavior?," Papers 2312.14515, arXiv.org.
    13. Meng, Meng, 2025. "Product market competition, financing constraints, and corporate digital transformation," Finance Research Letters, Elsevier, vol. 85(PE).
    14. Wei Wang & Dechao Ma & Fengzhi Wu & Mengxin Sun & Shuangqing Xu & Qiuyue Hua & Ziyuan Sun, 2023. "Exploring the Knowledge Structure and Hotspot Evolution of Greenwashing: A Visual Analysis Based on Bibliometrics," Sustainability, MDPI, vol. 15(3), pages 1-35, January.
    15. Zhang, Dongyang, 2022. "Green financial system regulation shock and greenwashing behaviors: Evidence from Chinese firms," Energy Economics, Elsevier, vol. 111(C).
    16. Qiu, Weijian & Yang, Wenxuan & Qiu, Le, 2025. "Population aging, market competition and enterprise green innovation," Finance Research Letters, Elsevier, vol. 74(C).
    17. Shakil, Mohammad Hassan, 2024. "Environmental, social and governance controversies: A bibliometric review and research agenda," Finance Research Letters, Elsevier, vol. 70(C).
    18. Armando Toscano & Melissa Balzarotti & Ilaria Re, 2022. "Sustainability Practices and Greenwashing Risk in the Italian Poultry Sector: A Grounded Theory Study," Sustainability, MDPI, vol. 14(21), pages 1-16, October.
    19. Kong, Xiangyi & Xu, Jian & Zhang, Yinge, 2022. "Industry competition and firm productivity: Evidence from the antitrust policy in China," Finance Research Letters, Elsevier, vol. 47(PB).
    20. Yang, Jinkun & Wang, Hai & Hou, Congcong & Fu, Shaozheng, 2025. "Governance or collusion? Shareholders' network and corporate ESG greenwashing," International Review of Financial Analysis, Elsevier, vol. 107(C).
    21. Wei Wang & Ziyuan Sun & Weixing Zhu & Lin Ma & Yuting Dong & Xiao Sun & Fengzhi Wu, 2023. "How does multi‐agent govern corporate greenwashing? A stakeholder engagement perspective from “common” to “collaborative” governance," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(1), pages 291-307, January.
    22. Xiru Li & Bo Zhu & Yufei Zhang, 2024. "Greenium of green securitization: Does external certification matter?," PLOS ONE, Public Library of Science, vol. 19(8), pages 1-27, August.
    23. Lu, Zhenye & Lin, Yongjia & Li, You, 2023. "Does corporate engagement in digital transformation influence greenwashing? Evidence from China," Finance Research Letters, Elsevier, vol. 58(PD).
    24. Liu, Ji & Xu, Zheng & Zhang, Jing & Zhou, Kun, 2025. "Can market competition enhance the utilization of data elements? Analysis from the dual perspectives of managerial incentives and entrepreneurial orientation," International Review of Financial Analysis, Elsevier, vol. 103(C).
    25. Amairi, Haifa & Gallali, Mohamed Imen & Sassi, Syrine, 2022. "Market pressure and cost of equity: Revisited," Finance Research Letters, Elsevier, vol. 47(PB).
    26. Zhang, Wei & Qin, Chu & Zhang, Wenyao, 2023. "Top management team characteristics, technological innovation and firm's greenwashing: Evidence from China's heavy-polluting industries," Technological Forecasting and Social Change, Elsevier, vol. 191(C).
    27. Hui Hou & Yuanyuan Wang & Minglang Zhang, 2024. "Impact of environmental information disclosure on green finance development: empirical evidence from China," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(8), pages 20279-20309, August.
    28. Zhang, Dongyang, 2022. "Environmental regulation, green innovation, and export product quality: What is the role of greenwashing?," International Review of Financial Analysis, Elsevier, vol. 83(C).
    29. Zhang, Dongyang, 2023. "Subsidy expiration and greenwashing decision: Is there a role of bankruptcy risk?," Energy Economics, Elsevier, vol. 118(C).
    30. Fan, Xinyue & Tang, Zishen & Huang, Wenjie & Yang, Kai, 2025. "Ownership concentration and corporate greenwashing in China's capital markets: Based on a multi-actors perspective," Pacific-Basin Finance Journal, Elsevier, vol. 89(C).
    31. Tan, Ruipeng & Cai, Qijun & Pan, Lulu, 2024. "Faking for fortune: Emissions trading schemes and corporate greenwashing in China," Energy Economics, Elsevier, vol. 130(C).
    32. Qi Shuang & Jintao Lu & Sen Wang & Denise Callari & Nicola Cucari, 2024. "Exploring the power of informal institutions: How does social trust affect corporate's greenwashing strategy," Business Strategy and the Environment, Wiley Blackwell, vol. 33(8), pages 9098-9115, December.
    33. Liu, Changyu & Gong, Wanrong & Dong, Guanglong & Ji, Qiang, 2024. "Regulation of environmental, social and governance disclosure greenwashing behaviors considering the risk preference of enterprises," Energy Economics, Elsevier, vol. 135(C).
    34. Matthew J. Spaniol & Evita Danilova-Jensen & Martin Nielsen & Carl Gyldenkærne Rosdahl & Clara Jasmin Schmidt, 2024. "Defining Greenwashing: A Concept Analysis," Sustainability, MDPI, vol. 16(20), pages 1-17, October.
    35. Zhou, Kuo & Qu, Zhi & Liang, Jiayang & Tao, Yunqing & Zhu, Mengting, 2024. "Threat or shield: Environmental administrative penalties and corporate greenwashing," Finance Research Letters, Elsevier, vol. 61(C).
    36. Xu, Xiaoping & Chen, Xinru & Cheng, T.C.E. & Choi, Tsan-Ming & Yang, Yuanyuan, 2025. "Should blockchain be used to eliminate greenwashing for green and live-streaming platform operations under carbon trading systems?," European Journal of Operational Research, Elsevier, vol. 324(3), pages 1017-1034.
    37. Liu, Changyu & Song, Yadong & Wang, Wei & Shi, Xunpeng, 2023. "The governance of manufacturers’ greenwashing behaviors: A tripartite evolutionary game analysis of electric vehicles," Applied Energy, Elsevier, vol. 333(C).
    38. Yating Ding & Xudong Wang & Lin Wu, 2025. "Environmental tax law and greenwashing: the moderating role of digitization," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 12(1), pages 1-15, December.
    39. Fu, Chuanrui & Zou, Jingjing & Li, Li & Wang, Yanhui, 2025. "Institutional investors' site visits and ESG disclosure: The mediating role of environmental legitimacy pressure," Finance Research Letters, Elsevier, vol. 84(C).
    40. Tian, Lulu & Song, Xinyang & Du, Meng & Xu, Baochang, 2025. "The disciplinary impact of capital market internationalization on corporate ESG greenwashing: A study of A-shares' inclusion in the MSCI index," International Review of Financial Analysis, Elsevier, vol. 103(C).
    41. Zhang, Dongyang, 2023. "Can environmental monitoring power transition curb corporate greenwashing behavior?," Journal of Economic Behavior & Organization, Elsevier, vol. 212(C), pages 199-218.
    42. Kleffel, Philipp & Muck, Matthias, 2023. "Aggregate confusion or inner conflict? An experimental analysis of investors’ reaction to greenwashing," Finance Research Letters, Elsevier, vol. 53(C).
    43. Guangchen Li & Qianlong Ma & Rsha Alghafes & Khaoula Aliani, 2026. "Firm-perceived economic policy uncertainty and corporate greenwashing: evidence from China," Economic Change and Restructuring, Springer, vol. 59(2), pages 1-29, April.
    44. Jiao, Anqi & Lu, Juntai & Ren, Honglin & Wei, Jia, 2024. "The role of AI capabilities in environmental management: Evidence from USA firms," Energy Economics, Elsevier, vol. 134(C).
    45. Peng, Wei & Xiong, Langyu, 2022. "Managing financing costs and fostering green transition: The role of green financial policy in China," Economic Analysis and Policy, Elsevier, vol. 76(C), pages 820-836.
    46. Abdullah, Mohammad & Wali Ullah, G M & Turner, Jason, 2025. "50 shades of dark green: The nexus of narcissistic leadership and corporate greenwashing," International Review of Financial Analysis, Elsevier, vol. 104(PA).
    47. Xiaoqian Lu & Tong Sheng & Xiaolan Zhou & Chaohai Shen & Bingquan Fang, 2022. "How Does Young Consumers’ Greenwashing Perception Impact Their Green Purchase Intention in the Fast Fashion Industry? An Analysis from the Perspective of Perceived Risk Theory," Sustainability, MDPI, vol. 14(20), pages 1-17, October.
    48. Xiangyu Chen & Peng Wan & Zhefeng Ma & Yu Yang, 2024. "Does corporate digital transformation restrain ESG decoupling? Evidence from China," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-15, December.
    49. Wang, Yuan & Xing, Chao & Zhang, Luxiu, 2024. "Is greenwashing beneficial for corporate access to financing? Evidence from China," Finance Research Letters, Elsevier, vol. 65(C).
    50. Patrick Velte, 2023. "Determinants and consequences of corporate social responsibility decoupling—Status quo and limitations of recent empirical quantitative research," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(6), pages 2695-2717, November.
    51. Mathieu Gomes & Sylvain Marsat & Jonathan Peillex & Guillaume Pijourlet, 2024. "Does religiosity influence corporate greenwashing behavior ?," Post-Print hal-04360447, HAL.
    52. Liu, Yuying, 2024. "Climate risk perception, female directors and greenwashing," Finance Research Letters, Elsevier, vol. 70(C).
    53. Ofori, Isaac K. & Gbolonyo, Emmanuel Y. & Ojong, Nathanael, 2022. "Foreign Direct Investment and Inclusive Green Growth in Africa: Energy Efficiency Contingencies and Thresholds," MPRA Paper 115379, University Library of Munich, Germany, revised 09 Nov 2022.
    54. Tian, Jinfang & Sun, Siyang & Cao, Wei & Bu, Di & Xue, Rui, 2024. "Make every dollar count: The impact of green credit regulation on corporate green investment efficiency," Energy Economics, Elsevier, vol. 130(C).
    55. Boyd, Naomi & Li, Shenru & Wang, He (Helen) & Wang, Xianjue, 2025. "Fiduciary duty and corporate social responsibility: Evidence from corporate opportunity waiver," Journal of Banking & Finance, Elsevier, vol. 173(C).
    56. Satish Kumar & Dipasha Sharma & Sandeep Rao & Weng Marc Lim & Sachin Kumar Mangla, 2025. "Past, present, and future of sustainable finance: insights from big data analytics through machine learning of scholarly research," Annals of Operations Research, Springer, vol. 345(2), pages 1061-1104, February.

  2. Allen N. Berger & Sadok El Ghoul & Omrane Guedhami & Raluca Roman, 2015. "Internationalization and bank risk," Research Working Paper RWP 15-8, Federal Reserve Bank of Kansas City.

    Cited by:

    1. Molyneux, Philip & Pancotto, Livia & Reghezza, Alessio & Rodriguez d'Acri, Costanza, 2022. "Interest rate risk and monetary policy normalisation in the euro area," Journal of International Money and Finance, Elsevier, vol. 124(C).
    2. Dung V. Tran & M. Kabir Hassan & Isabelle Girerd‐Potin & Pascal Louvet, 2020. "Activity Strategies, Agency Problems, And Bank Risk," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 43(3), pages 575-613, August.
    3. Amin, Abu & Mollah, Sabur & Kamal, Syed & Zhao, Yang & Simsek, Rasim, 2024. "Independent directors’ connectedness and bank risk-taking," Journal of Financial Stability, Elsevier, vol. 75(C).
    4. Liang, Yunjia & Zhou, Bo & Zhao, Shaoyang, 2024. "Risking or de-risking? The effect of banking competition on large state-owned banks and small and medium-sized enterprise lending: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 94(C).
    5. Aduba, Joseph Jr. & Harimaya, Kozo, 2023. "Impact of international expansion strategy on the performance of Japanese banks," Japan and the World Economy, Elsevier, vol. 65(C).
    6. Zhu, Chaowei & Zhang, Fan & Zhang, Yuling, 2023. "Revisiting financial opening and financial development: A regulation heterogeneity perspective," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 181-197.
    7. Berger, Allen & Gao, Haoyu & Li, Xinming & Peng, Yuchao & Xie, Bingyuan, 2025. "The Perils of Speed: Branch Expansion and Bank Performance," MPRA Paper 125305, University Library of Munich, Germany.
    8. Saibal Ghosh, 2023. "Stability versus soundness: what matters for women central bank governors?," Economic Change and Restructuring, Springer, vol. 56(4), pages 2315-2338, August.
    9. Dungey, Mardi & Flavin, Thomas & O'Connor, Thomas & Wosser, Michael, 2022. "Non-financial corporations and systemic risk," Journal of Corporate Finance, Elsevier, vol. 72(C).
    10. Li, Xiang & Su, Dan, 2020. "Capital account liberalisation does worsen income inequality," IWH Discussion Papers 7/2020, Halle Institute for Economic Research (IWH).
    11. Andrieş, Alin Marius & Chiper, Alexandra Maria & Ongena, Steven & Sprincean, Nicu, 2024. "External wealth of nations and systemic risk," Journal of Financial Stability, Elsevier, vol. 70(C).
    12. Bui, Tung Duy & Bui, Hoai Thi Mai, 2020. "Threshold effect of economic openness on bank risk-taking: Evidence from emerging markets," Economic Modelling, Elsevier, vol. 91(C), pages 790-803.
    13. Joy Omeghie Osemwegie-Ero, 2019. "Cross Border Banking And Bank Performance: The Nigeria Case," International Journal of Contemporary Accounting Issues-IJCAI (formerly International Journal of Accounting & Finance IJAF), The Institute of Chartered Accountants of Nigeria (ICAN), vol. 8(2), pages 114-141.
    14. Elizaveta Kamaraeva, 2020. "Bank Complexity and Risk," Russian Journal of Money and Finance, Bank of Russia, vol. 79(3), pages 75-104, September.
    15. Dung Viet Tran & David McMillan, 2020. "Funding liquidity and bank lending," Cogent Economics & Finance, Taylor & Francis Journals, vol. 8(1), pages 1734324-173, January.
    16. Yu, Shengjing & Zheng, Xiaolan & Liu, Martin J., 2025. "Board digital expertise and digital innovation: Evidence from commercial banks in China," Research in International Business and Finance, Elsevier, vol. 76(C).
    17. Bang Jeon & Ji Wu & Minghua Chen & Rui Wang, 2016. "Do foreign banks take more risk? Evidence from emerging economies," School of Economics Working Paper Series 2016-4, LeBow College of Business, Drexel University.
    18. Abinzano, Isabel & Corredor, Pilar & Mansilla-Fernández, José Manuel, 2022. "Sovereign debt holdings and banks’ credit risk: Evidence from the Eurozone," Finance Research Letters, Elsevier, vol. 47(PA).
    19. Li, Hui-Jun & Si, Deng-Kui & Chen, Meng-Long, 2024. "How does macroprudential policy affect the relationship between financial openness and bank risk-taking," Economic Analysis and Policy, Elsevier, vol. 84(C), pages 1820-1839.
    20. Joel Suss & David Bholat & Alex Gillespie & Tom Reader, 2021. "Organisational culture and bank risk," Bank of England working papers 912, Bank of England.
    21. Ma, Yong & Yao, Chi, 2022. "Openness, financial structure, and bank risk: International evidence," International Review of Financial Analysis, Elsevier, vol. 81(C).
    22. Zilja, Flladina & Benito, Gabriel R.G. & Boustanifar, Hamid & Zhang, Dan, 2023. "CEO wealth and cross-border acquisitions by SMEs," International Business Review, Elsevier, vol. 32(6).
    23. Murad, S.M. Woahid & Pathan, Shams & Durand, Robert B. & Zheng, Chen, 2025. "Understanding Bank-Level Uncertainty: New insights into banking activity and its macroeconomic impacts," International Review of Economics & Finance, Elsevier, vol. 102(C).
    24. Bert Scholtens & Sophie van’t Klooster, 2019. "Sustainability and bank risk," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 5(1), pages 1-8, December.
    25. Wang, Peiwen & Chen, Minghua & Wu, Ji & Yan, Yuanyun, 2023. "Do peer effects matter in bank risk? Some cross-country evidence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 88(C).
    26. Schoenmaker, Dirk & Duijm, Patty, 2017. "European Banks Straddling Borders: Risky or Rewarding?," CEPR Discussion Papers 12159, C.E.P.R. Discussion Papers.
    27. Gaganis, Chrysovalantis & Lozano-Vivas, Ana & Papadimitri, Panagiota & Pasiouras, Fotios, 2020. "Macroprudential policies, corporate governance and bank risk: Cross-country evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 169(C), pages 126-142.
    28. Simon Döring & Wolfgang Drobetz & Sadok El Ghoul & Omrane Guedhami & Henning Schröder, 2023. "Foreign Institutional Investors, Legal Origin, and Corporate Greenhouse Gas Emissions Disclosure," Journal of Business Ethics, Springer, vol. 182(4), pages 903-932, February.
    29. Yildirim, Canan & Efthyvoulou, Georgios, 2018. "Bank value and geographic diversification: regional vs global," Journal of Financial Stability, Elsevier, vol. 36(C), pages 225-245.
    30. Ling Wang & Kexin Chen & Mei Choi Chiu & Hoi Ying Wong, 2021. "Optimal Expansion of Business Opportunity," Papers 2112.06706, arXiv.org.
    31. Belaounia, Samia & Bouslama, Ghassen, 2025. "International intensity, regional dispersion, and institutional distance: How a multinational configuration shapes capital structure," International Business Review, Elsevier, vol. 34(6).
    32. Wu, Ji & Guo, Mengmeng & Chen, Minghua & Jeon, Bang Nam, 2019. "Market power and risk-taking of banks: Some semiparametric evidence from emerging economies," Emerging Markets Review, Elsevier, vol. 41(C).
    33. G Andrew Karolyi & John Sedunov & Alvaro G. Taboada, 2023. "Cross-Border Bank Flows and Systemic Risk," Review of Finance, European Finance Association, vol. 27(5), pages 1563-1614.
    34. Amel-Zadeh, Amir & Barth, Mary E., 2021. "Auditor reporting to bank regulators: Effective regulation or regulatory overreach?," Journal of Accounting and Economics, Elsevier, vol. 72(2).
    35. Tran, Dung Viet & Hassan, M. Kabir & AlTalafha, Sarah H. & Turunen-Red, Arja, 2021. "Policy uncertainty, the use of derivatives: Evidence from U.S. bank holdingcompanies (BHCs)," Research in International Business and Finance, Elsevier, vol. 58(C).
    36. Bui, Duy Tung & Bui, Thi Mai Hoai, 2019. "How does institutional development shape bank risk-taking incentives in the context of financial openness?," Pacific-Basin Finance Journal, Elsevier, vol. 58(C).
    37. Correa, Ricardo & Goldberg, Linda S., 2022. "Bank complexity, governance, and risk," Journal of Banking & Finance, Elsevier, vol. 134(C).
    38. Tran, Dung Viet & Bui, Dien Giau & Nguyen, Cuong & Hoang, Huy Viet, 2023. "Bank liquidity hoarding during the COVID-19 pandemic," Finance Research Letters, Elsevier, vol. 55(PB).
    39. Davydov, Denis & Vähämaa, Sami & Yasar, Sara, 2021. "Bank liquidity creation and systemic risk," Journal of Banking & Finance, Elsevier, vol. 123(C).
    40. Luo, Yun & Tanna, Sailesh & De Vita, Glauco, 2016. "Financial openness, risk and bank efficiency: Cross-country evidence," Journal of Financial Stability, Elsevier, vol. 24(C), pages 132-148.
    41. Charles Braymen & John R. Wingender, 2023. "International banking facilities and bank value," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 37(4), pages 351-377, December.
    42. W. Scott Frame & Atanas Mihov & Leandro Sanz, 2017. "Foreign Investment, Regulatory Arbitrage, and the Risk of U.S. Banking Organizations," FRB Atlanta Working Paper 2017-2, Federal Reserve Bank of Atlanta.
    43. Ronald C. Anderson & Mikael C. Bergbrant & Delroy M. Hunter & David M. Reeb, 2023. "Are founding families less willing to bear risk? Evidence from the currency exposure and internationalization strategy of family firms," Financial Management, Financial Management Association International, vol. 52(1), pages 41-66, March.
    44. Pedrono, Justine, 2022. "The currency channel of the global bank leverage cycle," Journal of International Money and Finance, Elsevier, vol. 126(C).
    45. Allen N. Berger & Raluca Roman & John Sedunov, 2016. "Do bank bailouts reduce or increase systemic risk? the effects of TARP on financial system stability," Research Working Paper RWP 16-8, Federal Reserve Bank of Kansas City.
    46. Lee, Chien-Chiang & Wang, Chih-Wei & Lin, Weizheng & Chiu, Yi-Hsin, 2025. "The role of happiness in bank risk: An international cross-country analysis," Pacific-Basin Finance Journal, Elsevier, vol. 90(C).
    47. Song, Lingfeng & Zhang, Yinsainan, 2021. "Banking network structure and transnational systemic risk contagion—The case of the European Union," Finance Research Letters, Elsevier, vol. 39(C).
    48. Gamze Ozturk Danisman & Amine Tarazi, 2021. "Economic policy uncertainty and bank stability," Working Papers hal-03259298, HAL.
    49. Yuan, Xiaohui, 2024. "Disentangling the impact of foreign bank presence on domestic banks performance: Does the degree of foreign ownership in domestic banks matter?," Research in International Business and Finance, Elsevier, vol. 72(PB).
    50. Hassan Akram & Adnan Hushmat, 2024. "Bank liquidity creation and solvency risk with moderating role of loan concentration: a comparative study of Islamic and conventional banks in Pakistan and Malaysia," Risk Management, Palgrave Macmillan, vol. 26(4), pages 1-32, December.
    51. Martin-Flores, Jose M., 2024. "Is bank misconduct related to social capital? Evidence from U.S. banks," Journal of Banking & Finance, Elsevier, vol. 167(C).
    52. Yiannis Anagnostopoulos & George Alexandrou & Hardy M. Thomas, 2024. "European banking M&As: The role of financial advisors," Review of Quantitative Finance and Accounting, Springer, vol. 63(4), pages 1193-1231, November.
    53. Yildirim, Canan & Kasman, Adnan & Gulamhussen, Mohamed Azzim, 2023. "Efficiency of multinational banks: Impacts of geographic and product loci," International Business Review, Elsevier, vol. 32(5).
    54. Ali Awdeh, 2016. "The Impact of Variable Interactions on Lebanese Banks Fragility," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 8(8), pages 111-111, August.
    55. Trinh, Vu Quang & Kara, Alper & Elnahass, Marwa, 2022. "Dividend payout strategies and bank survival likelihood: A cross-country analysis," International Review of Financial Analysis, Elsevier, vol. 81(C).
    56. Xiang Li & Dan Su, 2021. "Does Capital Account Liberalization Affect Income Inequality?," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 83(2), pages 377-410, April.
    57. Adhikari, Binay Kumar & Agrawal, Anup, 2016. "Does local religiosity matter for bank risk-taking?," Journal of Corporate Finance, Elsevier, vol. 38(C), pages 272-293.
    58. Danisman, Gamze Ozturk & Demirel, Pelin, 2019. "Bank risk-taking in developed countries: The influence of market power and bank regulations," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 59(C), pages 202-217.
    59. Chen, Xiao & Dai, Narisa Tianjing & Liu, Ming & So, Raymond H.Y. & Tan, Zhiyuan Simon, 2025. "Can government policies tackle maturity mismatches? Evidence from a quasi-natural experiment in China," Journal of Corporate Finance, Elsevier, vol. 95(C).
    60. Argimón, Isabel & Rodríguez-Moreno, María, 2022. "Risk and control in complex banking groups," Journal of Banking & Finance, Elsevier, vol. 134(C).
    61. Omrane Guedhami & April Knill & William L. Megginson & Lemma W. Senbet, 2022. "The dark side of globalization: Evidence from the impact of COVID-19 on multinational companies," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(8), pages 1603-1640, October.
    62. Isabel Argimón & María Rodríguez-Moreno, 2021. "Business complexity and geographic expansion in banking," Working Papers 2132, Banco de España.
    63. Berger, Allen N. & El Ghoul, Sadok & Guedhami, Omrane & Roman, Raluca A., 2022. "Geographic deregulation and banks’ cost of equity capital," Journal of International Money and Finance, Elsevier, vol. 120(C).
    64. Yuan, Xiaohui, 2025. "Institutional quality distance, foreign bank presence and domestic bank efficiency: Cross-country evidence," Journal of Multinational Financial Management, Elsevier, vol. 77(C).
    65. Elena Carletti & Steven Ongena & Jan-Peter Siedlarek & Giancarlo Spagnolo, 2019. "The Impact of Stricter Merger Control on Bank Mergers and Acquisitions. Too-Big-To-Fail and Competition," Working Papers 16-14R2, Federal Reserve Bank of Cleveland.
    66. Palvia, Ajay & Vähämaa, Emilia & Vähämaa, Sami, 2020. "Female leadership and bank risk-taking: Evidence from the effects of real estate shocks on bank lending performance and default risk," Journal of Business Research, Elsevier, vol. 117(C), pages 897-909.
    67. Justine Pedrono, 2022. "The Currency Channel of the Global Bank Leverage Cycle," Working papers 870, Banque de France.
    68. Canan Yildirim & Adnan Kasman & Mohamed Azzim Gulamhussen, 2023. "Efficiency of multinational banks: Impacts of geographic and product loci," Post-Print hal-04191115, HAL.
    69. Spagnolo, Giancarlo & Carletti, Elena & Ongena, Steven & Siedlarek, Jan-Peter, 2020. "The Impacts of Stricter Merger Legislation on Bank Mergers and Acquisitions: Too-Big-To-Fail and Competition," CEPR Discussion Papers 14449, C.E.P.R. Discussion Papers.
    70. Diego P. Guisande & Maretno Agus Harjoto & Andreas G. F. Hoepner & Conall O’Sullivan, 2024. "Ethics and Banking: Do Banks Divest Their Kind?," Journal of Business Ethics, Springer, vol. 192(1), pages 191-223, June.
    71. Marta Degl'Innocenti & Si Zhou & Yue Zhou, 2024. "Lending and risk controls for BHCs after the Dodd–Frank act," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 47(2), pages 275-315, June.
    72. El Ghoul, Sadok & Fu, Zhengwei & Guedhami, Omrane & Kim, Yongwon, 2024. "Do insiders profit from public environmental information? Evidence from insider trading," Global Finance Journal, Elsevier, vol. 60(C).
    73. Yi Zheng & S. Drew Peabody, 2025. "Bank Funding Dynamics Between Retail Deposits and Wholesale Funds: Implications for Regulations," Journal of Financial Services Research, Springer;Western Finance Association, vol. 68(1), pages 75-122, August.
    74. Allen N. Berger & Omrane Guedhami & Destan Kirimhan & Xinming Li & Daxuan Zhao, 2024. "Universal banking powers and liquidity creation," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 55(6), pages 764-781, August.
    75. Kassouri, Yacouba & Altıntaş, Halil & Bilgili, Faik, 2020. "An investigation of the financial resource curse hypothesis in oil-exporting countries: The threshold effect of democratic accountability," Journal of Multinational Financial Management, Elsevier, vol. 56(C).
    76. Huizinga, Harry & Demirgüç-Kunt, Asli & Bertay, Ata, 2017. "Are international banks different? Evidence on bank performance and strategy," CEPR Discussion Papers 12505, C.E.P.R. Discussion Papers.
    77. Wang, Chaochao & Dong, Yan & Ge, Ran, 2023. "Bank branching deregulation and the credit risk of the regional banking sector: Evidence from city commercial banks in China," Emerging Markets Review, Elsevier, vol. 55(C).
    78. Ben Abdesslem, Rim & Chkir, Imed & Dabbou, Halim, 2022. "Is managerial ability a moderator? The effect of credit risk and liquidity risk on the likelihood of bank default," International Review of Financial Analysis, Elsevier, vol. 80(C).
    79. Zheng, Yi, 2020. "Does bank opacity affect lending?," Journal of Banking & Finance, Elsevier, vol. 119(C).
    80. McLemore, Ping & Mihov, Atanas & Sanz, Leandro, 2022. "Global banks and systemic risk: The dark side of country financial connectedness," Journal of International Money and Finance, Elsevier, vol. 129(C).
    81. Singh, Sunny Kumar & Salva,, 2025. "Is the relationship between financial globalization and financial stability heterogeneous? Evidence from emerging markets and developing economies," Journal of Multinational Financial Management, Elsevier, vol. 77(C).
    82. Puhr, Harald & Müllner, Jakob, 2022. "Foreign to all but fluent in many: The effect of multinationality on shock resilience," Journal of World Business, Elsevier, vol. 57(6).
    83. Saunders, Anthony & Schmid, Markus & Walter, Ingo, 2020. "Strategic scope and bank performance," Journal of Financial Stability, Elsevier, vol. 46(C).
    84. Spokeviciute, Laima & Keasey, Kevin & Vallascas, Francesco, 2019. "Do financial crises cleanse the banking industry? Evidence from US commercial bank exits," Journal of Banking & Finance, Elsevier, vol. 99(C), pages 222-236.
    85. Walter Gontarek & Yacine Belghitar, 2021. "CEO chairman controversy: evidence from the post financial crisis period," Review of Quantitative Finance and Accounting, Springer, vol. 56(2), pages 675-713, February.
    86. Gulamhussen, M.A. & Pinheiro, Carlos & Pozzolo, Alberto Franco, 2014. "International diversification and risk of multinational banks: Evidence from the pre-crisis period," Journal of Financial Stability, Elsevier, vol. 13(C), pages 30-43.
    87. Bakkar, Yassine & Nyola, Annick Pamen, 2021. "Internationalization, foreign complexity and systemic risk: Evidence from European banks," Journal of Financial Stability, Elsevier, vol. 55(C).
    88. Wu, Meng-Wen & Shen, Chung Hua, 2019. "Effects of shadow banking on bank risks from the view of capital adequacy," International Review of Economics & Finance, Elsevier, vol. 63(C), pages 176-197.
    89. Aldasoro, Iñaki & Hardy, Bryan & Jager, Maximilian, 2022. "The Janus face of bank geographic complexity," Journal of Banking & Finance, Elsevier, vol. 134(C).
    90. Ho, Kelvin & Wong, Eric & Tan, Edward, 2022. "Complexity of global banks and the implications for bank risk: Evidence from foreign banks in Hong Kong," Journal of Banking & Finance, Elsevier, vol. 134(C).
    91. Pham, Thi Hoang Anh & Doan, Ngoc Thang, 2023. "Global bank complexity and financial fragility around the world," Economic Systems, Elsevier, vol. 47(1).
    92. Degl'Innocenti, Marta & Fiordelisi, Franco & Song, Wei & Zhou, Si, 2023. "Shareholder litigation and bank risk," Journal of Banking & Finance, Elsevier, vol. 146(C).
    93. Nyola, Annick Pamen & Sauviat, Alain & Tarazi, Amine & Danisman, Gamze Ozturk, 2021. "How organizational and geographic complexity influence performance: Evidence from European banks," Journal of Financial Stability, Elsevier, vol. 55(C).
    94. Wei, Lu & Li, Guowen & Li, Jianping & Zhu, Xiaoqian, 2019. "Bank risk aggregation with forward-looking textual risk disclosures," The North American Journal of Economics and Finance, Elsevier, vol. 50(C).
    95. Silva, Felipe Bastos Gurgel, 2021. "Fiscal Deficits, Bank Credit Risk, and Loan-Loss Provisions," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 56(5), pages 1537-1589, August.
    96. Mercadier, Mathieu & Strobel, Frank, 2024. "Bank insolvency risk, Z-score measures and unimodal returns: A refinement," The Quarterly Review of Economics and Finance, Elsevier, vol. 98(C).
    97. Linda Allen & Suparna Chakraborty & Sonali Hazarika & Chih-Huei Su, 2020. "Bank dependence in emerging countries: Cross-border information percolation in mutual fund equity investing," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 51(2), pages 218-243, March.
    98. Omrane Guedhami & April Knill & William Megginson & Lemma W. Senbet, 2023. "Economic impact of COVID-19 across national boundaries: The role of government responses," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(7), pages 1278-1297, September.
    99. Hamid Boustanifar & Edward J. Zajac & Flladina Zilja, 2022. "Taking chances? The effect of CEO risk propensity on firms’ risky internationalization decisions," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(2), pages 302-325, March.
    100. Tsionas, Mike G. & Mamatzakis, Emmanuel & Ongena, Steven, 2020. "Does risk aversion affect bank output loss? The case of the Eurozone," European Journal of Operational Research, Elsevier, vol. 282(3), pages 1127-1145.
    101. Atanas Mihov & Andy Naranjo, 2019. "Corporate internationalization, subsidiary locations, and the cost of equity capital," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(9), pages 1544-1565, December.
    102. Tripathy, Niranjan & Wu, Da & Zheng, Yi, 2021. "Dividends and financial health: Evidence from U.S. bank holding companies," Journal of Corporate Finance, Elsevier, vol. 66(C).
    103. Quang Trinh, Vu & Duong Cao, Ngan & Li, Teng & Elnahass, Marwa, 2023. "Social capital, trust, and bank tail risk: The value of ESG rating and the effects of crisis shocks," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 83(C).
    104. Martynova, Natalya & Vogel, Ursula, 2022. "Banks’ complexity-risk nexus and the role of regulation," Journal of Banking & Finance, Elsevier, vol. 134(C).
    105. Gerek, Caner & Tuncez, Ahmet M., 2025. "Anatomy of a fall: Economic policy uncertainty and foreign income in large European banks," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 104(C).

  3. Narjess Boubakri & Sadok El Ghoul & Walid Saffar, "undated". "Firm Growth and Political Institutions," Finance Working Papers 11-11/2013, School of Business Administration, American University of Sharjah.

    Cited by:

    1. Marcel Boyer & Hicham El Moussaoui & Valentin Petkantchin, 2024. "Le microentrepreneuriat et l’accès à l’eau potable dans les quartiers précaires d’Abidjan (Côte d’Ivoire)," CIRANO Working Papers 2024s-05, CIRANO.
    2. Chen, Donghua & Yu, Xin & Zhang, Zhou, 2019. "Foreign direct investment comovement and home country institutions," Journal of Business Research, Elsevier, vol. 95(C), pages 220-231.
    3. Yilong An & Yinghua Zhang, 2021. "Crossing the Valley of Death for SMEs: Management Practices From China," SAGE Open, , vol. 11(3), pages 21582440211, September.
    4. Delis, Manthos & Gaganis, Chrysovalantis & Hasan, Iftekhar & Pasiouras, Fotios, 2015. "The Effect of Board Directors from Countries with Different Genetic Diversity Levels on Corporate Performance," MPRA Paper 64905, University Library of Munich, Germany.
    5. Luc Renneboog & Peter G. Szilagyi & Cara Vansteenkiste, 2017. "Creditor rights, claims enforcement, and bond performance in mergers and acquisitions," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 48(2), pages 174-194, February.
    6. Canh Phuc Nguyen & Nhi Ai Nguyen & Christophe Schinckus & Thanh Dinh Su, 2018. "The Ambivalent Role of Institutions in the CO2 Emissions: The Case of Emerging Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 8(5), pages 7-17.
    7. Vaz, Rolando, 2021. "Firm Growth: A review of the empirical literature," Revista Galega de Economía, University of Santiago de Compostela. Faculty of Economics and Business., vol. 30(2), pages 1-20.
    8. Tiago M. Dutra & João C. A. Teixeira & José Carlos Dias, 2024. "The effect of political institutions on the interplay between banking regulation and banks’ risk," Journal of Banking Regulation, Palgrave Macmillan, vol. 25(2), pages 179-196, June.
    9. Chang, Chong-Chuo, 2023. "The impact of quality of institutions on firm performance: A global analysis," International Review of Economics & Finance, Elsevier, vol. 83(C), pages 694-716.
    10. Ibrahim Mike Okumu & Patricia Naluwooza & Edward Bbaale, 2022. "Firm Dynamics, Job Creation and Job Destruction in Africa: Is the Quality of Institutional Environment Relevant?," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 34(6), pages 2970-3004, December.
    11. Al-Thaqeb, Saud Asaad & Algharabali, Barrak Ghanim, 2019. "Economic policy uncertainty: A literature review," The Journal of Economic Asymmetries, Elsevier, vol. 20(C).
    12. Ellen Cristina Baradel & Fabiano Guasti Lima & Alexandre Assaf Neto, 2016. "Growth Potential of Publicly Traded Brazilian Companies: Accounting and Market Overview," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 2(2), pages 123-148, April.
    13. Renneboog, Luc & Szilagyi, Peter & Vansteenkiste, Cara, 2017. "Creditor rights, claims enforcement, and bond returns in mergers and acquisitions," Other publications TiSEM ef3ad779-66b4-4fca-a8e8-7, Tilburg University, School of Economics and Management.
    14. Ashraf, Badar Nadeem, 2017. "Political institutions and bank risk-taking behavior," Journal of Financial Stability, Elsevier, vol. 29(C), pages 13-35.
    15. Abdikarim Bashir Jama, 2020. "The Effect of Institutional Quality on Export performance of Middle East & North-Africa Region," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 4(1), pages 14-20, January.
    16. Jin, Jing & Liao, Rose C. & Loureiro, Gilberto, 2021. "The diverse effects of currency crises on multinational and local firms: The use of foreign currency debt," Journal of Multinational Financial Management, Elsevier, vol. 62(C).
    17. Dau, Luis Alfonso & Moore, Elizabeth M. & Kostova, Tatiana, 2020. "The impact of market based institutional reforms on firm strategy and performance: Review and extension," Journal of World Business, Elsevier, vol. 55(4).
    18. Maruta, Admasu Asfaw & Banerjee, Rajabrata & Cavoli, Tony, 2020. "Foreign aid, institutional quality and economic growth: Evidence from the developing world," Economic Modelling, Elsevier, vol. 89(C), pages 444-463.
    19. Chletsos, Michael & Sintos, Andreas, 2024. "Political stability and financial development: An empirical investigation," The Quarterly Review of Economics and Finance, Elsevier, vol. 94(C), pages 252-266.
    20. Wajahat Azmi & Zaheer Anwer & Mohsin Ali & Shamsher Mohamad, 2024. "Competition, stability, and institutional environment: The case of dual banking economies," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(1), pages 609-631, January.
    21. Helen X. H. Bao & Rohan Cardoza, 2023. "Political institutions and corporate risk‐taking: International evidence," International Review of Finance, International Review of Finance Ltd., vol. 23(4), pages 777-793, December.

Articles

  1. Sadok El Ghoul & Omrane Guedhami & Sattar A. Mansi & Oumar Sy, 2023. "Event studies in international finance research," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(2), pages 344-364, March.

    Cited by:

    1. Brož, Václav & Teplý, Petr, 2025. "From collapse to contagion: How bank failures influence stock markets," The North American Journal of Economics and Finance, Elsevier, vol. 79(C).
    2. Budi Wahyono & Whelsy Boungou & Subroto Rapih & Khresna Bayu Sangka, 2025. "Nobody (even stock markets) likes war: Evidence from the Israel-Hamas war," Economics Bulletin, AccessEcon, vol. 45(1), pages 188-195.
    3. Wahyono, Budi & Rapih, Subroto & Boungou, Whelsy, 2023. "Unleashing the wordsmith: Analysing the stock market reactions to the launch of ChatGPT in the US Education sector," Finance Research Letters, Elsevier, vol. 58(PC).
    4. Lukoianove, Tatiana & Mihalache-Okeef, Andreea & Demirkan, Irem & Jiang, Crystal & Chintakananda, Asda & White, George O., 2025. "Emerging methodologies in socio-political risk research: An introduction," Journal of International Management, Elsevier, vol. 31(5).
    5. Eduardo Enrique Sandoval Álamos & Claudio René Molina Mac-Kay & Erwin Octavio Taipe Aquino, 2024. "Measuring the Impacts of Argentina’s Presidential Election Process in 2023 on the Stock Market Performance Using a Dynamic Event Study Methodology," Risks, MDPI, vol. 13(1), pages 1-27, December.
    6. Bozos, Konstantinos & Filatotchev, Igor & Goergen, Marc, 2025. "Corporate governance, finance, and global strategy," International Business Review, Elsevier, vol. 34(6).
    7. Massimo Massa & Xiaoqiao Wang & Bohui Zhang & Hong Zhang, 2025. "The boundaries of the law: can US private enforcement discipline foreign firms?," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 56(1), pages 62-83, February.
    8. Hendrik Bessembinder & Michael J. Cooper & Wei Jiao & Feng Zhang, 2025. "Long-run post-event returns in global stock markets," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 56(9), pages 1150-1169, December.
    9. Yan Li & Kailu Zhang & Bojiao Mu & Xinran Mo, 2024. "The long-term effects of transformation and upgrading policies on the market performance of China's coal-fire power generation industry," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 29(7), pages 1-38, October.
    10. Orpiszewski, Tomasz & Thompson, Mark, 2025. "Beyond borders: Asset price reaction to ESG incidents at home and abroad," International Review of Financial Analysis, Elsevier, vol. 104(PA).
    11. Ahmed, Faroque & Gurdgiev, Constantin & Sohag, Kazi & Islam, Md. Monirul & Zeqiraj, Veton, 2024. "Global, local, or glocal? Unravelling the interplay of geopolitical risks and financial stress," Journal of Multinational Financial Management, Elsevier, vol. 75(C).
    12. Corazza, Marco & di Tollo, Giacomo & Filograsso, Gianni, 2025. "The impact of rating announcements on stock returns: A nonlinear assessment," Finance Research Letters, Elsevier, vol. 75(C).
    13. Al Shawawreh Fawaz Khalid, 2023. "Reassessing the Long-Run Abnormal Performance of Jordanian IPOs: An Event Study Approach," Foundations of Management, Sciendo, vol. 15(1), pages 141-160, January.
    14. Muhammad Farooq Ahmad & Nihat Aktas & Douglas Cumming & Guosong Xu, 2024. "Board reforms and M&A performance: international evidence," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 55(5), pages 616-637, July.
    15. Beckmann, Lars & Hark, Paul F., 2024. "ChatGPT and the banking business: Insights from the US stock market on potential implications for banks," Finance Research Letters, Elsevier, vol. 63(C).

  2. El Ghoul, Sadok & Gong, Zhaoran (Jason) & Guedhami, Omrane & Hou, Fangfang & Tong, Wilson H.S., 2023. "Social trust and firm innovation," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 84(C).

    Cited by:

    1. Gunay, Samet & Goodell, John W. & Muhammed, Shahnawaz & Kirimhan, Destan, 2023. "Frequency connectedness between FinTech, NFT and DeFi: Considering linkages to investor sentiment," International Review of Financial Analysis, Elsevier, vol. 90(C).
    2. Li Ren & Yanping Cheng, 2024. "The Impact and Mechanism of ESG Performance on Corporate Continuous Innovation: Evidence from China," Sustainability, MDPI, vol. 16(17), pages 1-22, September.
    3. Peña-Martel, Devora & Díaz-Díaz, Nieves L. & Pérez-Alemán, Jerónimo & Santana-Martín, Domingo J., 2024. "Are the media drivers of R&D?," Technology in Society, Elsevier, vol. 78(C).
    4. Machokoto, Michael, 2024. "The impact of cultural orientation towards secrecy on innovation," Economics Letters, Elsevier, vol. 234(C).
    5. Xie, Wenyu & Yin, Weijun & Tu, Dorothy, 2025. "Invisible handcuffs: Nepotism culture and SMEs’ innovation," Finance Research Letters, Elsevier, vol. 72(C).
    6. He, Yueyue & Ning, Xueping, 2025. "Can social credit demonstration cities reduce urban carbon emissions?," International Review of Economics & Finance, Elsevier, vol. 102(C).
    7. Abdelsalam, Omneya & Chantziaras, Antonios & Joseph, Nathan Lael & Tsileponis, Nikolaos, 2024. "Trust matters: A global perspective on the influence of trust on bank market risk," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 92(C).
    8. Wei Zhu & Wei‐jian Li & Lei Wang, 2024. "The impact of environmental, social, and governance ratings on corporate innovation: From the perspective of informal institutions," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 45(4), pages 2000-2022, June.
    9. Miao, Jianming & Dong, Baomin, 2025. "Social trust and export quality: Empirical evidence from China," Journal of Asian Economics, Elsevier, vol. 98(C).
    10. Yu, Lin & Ye, Jiahui & Yang, Lin, 2025. "From endowed trust to earned trust: Firms located in trusted regions," International Review of Financial Analysis, Elsevier, vol. 104(PA).

  3. El Ghoul, Sadok & Guedhami, Omrane & Mansi, Sattar & Wang, He (Helen), 2023. "Economic policy uncertainty, institutional environments, and corporate cash holdings," Research in International Business and Finance, Elsevier, vol. 65(C).

    Cited by:

    1. Yin, Doudou & Si, Deng-Kui & Wang, Yun, 2024. "How does corporate investment respond to trade policy uncertainty in China? The role of political connections," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 1429-1445.
    2. Ren, Meixu & Zhao, Jinxuan & Zhao, Jingmei, 2023. "The crowding-out effect of zombie companies on fixed asset investment: Evidence from China," Research in International Business and Finance, Elsevier, vol. 65(C).
    3. Thai, Thi Hong An & Vo, Thi Thuy Anh & Mazur, Mieszko, 2023. "COVID-19 and investment–cash flow sensitivity: A cross-country analysis," Research in International Business and Finance, Elsevier, vol. 66(C).
    4. Yao, Meijie & Chen, Wei, 2025. "Government subsidies, economic policy uncertainty and corporate financialization," International Review of Financial Analysis, Elsevier, vol. 104(PB).
    5. Zhang, Hailiang & Li, Yao & Wang, Haijun & Yin, Lei, 2025. "Expansion or retrenchment: Corporate investment reactions to external security risks," Research in International Business and Finance, Elsevier, vol. 73(PA).
    6. António Afonso & M. Carmen Blanco-Arana, 2025. "Creating Businesses in the Least Developed Countries: Does the Regulatory Environment Matter?," CESifo Working Paper Series 11838, CESifo.
    7. Huixiang Zeng & Limin Zheng & Xiaoyu Li & Yutong Zhang & Linrong Chen, 2023. "Are optimistic CEOs and pessimistic CFOs the best partners? Evidence from corporate cash holdings," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 10(1), pages 1-19, December.
    8. Tarzibash, Omar Fikrat Fateh & Ozyapici, Hasan & Adaoglu, Cahit, 2025. "Cash holdings in the US healthcare industry: Do different types of uncertainty matter?," Finance Research Letters, Elsevier, vol. 72(C).
    9. Yang, Jin Young, 2023. "Policy uncertainty and substitution between external financing and internal funds: International evidence," Research in International Business and Finance, Elsevier, vol. 66(C).
    10. Caixe, Daniel Ferreira, 2025. "Policy uncertainty and cash holdings: The role of corporate governance in Brazil," Research in International Business and Finance, Elsevier, vol. 80(C).
    11. Ricci, Ornella & Santilli, Gianluca & Scardozzi, Giulia & Stentella Lopes, Francesco Saverio, 2024. "ESG resilience in conflictual times," Research in International Business and Finance, Elsevier, vol. 71(C).
    12. Zhang, Dongyang & Wang, Cao & Wang, Yizhi, 2024. "Unveiling the critical nexus: Volatility of crude oil future prices and trade partner’s cash holding behavior in the face of the Russia–Ukraine conflict," Energy Economics, Elsevier, vol. 132(C).
    13. Ping Lin & Dixin Cai & Qingfeng Geng & Junbing Xu, 2025. "From Green to Gold: the cash management impact of China’s new diversified green finance policy," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 12(1), pages 1-14, December.
    14. Bai, Yaxin & Wang, Zehao & Sun, Xiaowei, 2025. "Green credit policy and its friction: Evidence from corporate asset structure adjustments," Research in International Business and Finance, Elsevier, vol. 77(PB).
    15. Wang, Xunxiao & Li, Luxi & Bian, Shibo, 2024. "Irrelevant answers in customers’ earnings communication conferences and suppliers’ cash holdings," Journal of Financial Stability, Elsevier, vol. 75(C).
    16. Chen, Naiwei & Yu, Min-Teh, 2024. "Less is more: Evidence from firms with low cash and debt," Research in International Business and Finance, Elsevier, vol. 69(C).
    17. Chen, Yanyan & Cheng, Liubing, 2025. "Does executive gender matter for corporate financial policies under uncertainty?," Global Finance Journal, Elsevier, vol. 65(C).
    18. Bo, Le & Ibrahim, Haslindar & Li, Jia, 2024. "Impact of product market competition on the overconfidence cash holdings relationship in Chinese firms," Pacific-Basin Finance Journal, Elsevier, vol. 86(C).
    19. Lin, Jianhao & Fan, Jiacheng & Zhang, Yifan, 2025. "Information Dissemination and the Monetary Policy Uncertainty Premium: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 171(C).

  4. Hamdi Driss & Sadok El Ghoul & Omrane Guedhami & John K. Wald, 2023. "Governance and leverage: International evidence," The Financial Review, Eastern Finance Association, vol. 58(2), pages 261-285, May.

    Cited by:

    1. Francesco Rocciolo & Andrea Gheno & Chris Brooks, 2024. "CEO overcaution and capital structure choices," The Financial Review, Eastern Finance Association, vol. 59(3), pages 719-743, August.
    2. Samuel Fosu & Henry Agyei‐Boapeah & Neytullah Ciftci, 2023. "Credit information sharing and cost of debt: Evidence from the introduction of credit bureaus in developing countries," The Financial Review, Eastern Finance Association, vol. 58(4), pages 783-810, November.

  5. Simon Döring & Wolfgang Drobetz & Sadok El Ghoul & Omrane Guedhami & Henning Schröder, 2023. "Foreign Institutional Investors, Legal Origin, and Corporate Greenhouse Gas Emissions Disclosure," Journal of Business Ethics, Springer, vol. 182(4), pages 903-932, February.

    Cited by:

    1. Chen, Xuchang & Wu, Changqi & Xie, Xuanli, 2025. "Foreign ownership and corporate litigation risk," Journal of Business Research, Elsevier, vol. 189(C).
    2. Liu, Maotao & Fang, Xubing, 2025. "How does green investor entry affect corporate carbon performance? Evidence from China," Renewable Energy, Elsevier, vol. 244(C).
    3. Florackis, Chris & Muktadir-Al-Mukit, Dewan & Sainani, Sushil & Zhang, Ziyang (John), 2025. "Stock market reaction to mandatory carbon disclosure announcements: The role of institutional investors," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 99(C).
    4. Zhang, Jinlong & Qi, Fengyu & Wu, Mingyue, 2025. "Market-oriented environmental regulation and ESG rating divergence," Research in International Business and Finance, Elsevier, vol. 79(C).
    5. King, Michael R. & Beamish, Paul W., 2026. "Multinational enterprises and greenhouse gas emissions: The dual reality of climate governance mechanisms," Journal of World Business, Elsevier, vol. 61(1).
    6. Ivan Diaz-Rainey & Paul A. Griffin & David H. Lont & Antonio J. Mateo-Márquez & Constancio Zamora-Ramírez, 2024. "Shareholder Activism on Climate Change: Evolution, Determinants, and Consequences," Journal of Business Ethics, Springer, vol. 193(3), pages 481-510, September.
    7. Mansoor Afzali & Gonul Colak & Sami Vähämaa, 2025. "Climate Change Denial and Corporate Environmental Responsibility," Journal of Business Ethics, Springer, vol. 196(1), pages 31-59, January.
    8. Driss, Hamdi & Drobetz, Wolfgang & El Ghoul, Sadok & Guedhami, Omrane, 2024. "The Sustainability committee and environmental disclosure: International evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 221(C), pages 602-625.
    9. Ding, Xin & Chourou, Lamia & Ben-Amar, Walid, 2024. "Carbon emissions and audit fees: Evidence from emerging markets," Emerging Markets Review, Elsevier, vol. 60(C).
    10. Atiqa Rehman & Halit Gonenc & Niels Hermes, 2023. "Carbon disclosure policy, external financing needs and the cost of capital: Does financial market quality matter?," Business Strategy and the Environment, Wiley Blackwell, vol. 32(8), pages 5854-5872, December.
    11. Xu Cheng & Xiandeng Jiang & Dongmin Kong & Samuel Vigne, 2024. "Shifting Stakeholders Logics: Foreign Institutional Ownership and Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 194(1), pages 165-183, September.
    12. Diego P. Guisande & Maretno Agus Harjoto & Andreas G. F. Hoepner & Conall O’Sullivan, 2024. "Ethics and Banking: Do Banks Divest Their Kind?," Journal of Business Ethics, Springer, vol. 192(1), pages 191-223, June.
    13. Aline Grahn, 2025. "Greenhouse Gas Disclosure: Evidence from Private Firms," Journal of Business Ethics, Springer, vol. 197(1), pages 177-194, February.
    14. Liu, Hao & Tang, Xue & Fu, Jyun-Ying, 2025. "Do foreign institutional investors curb carbon emissions? Evidence from an emerging economy," Research in International Business and Finance, Elsevier, vol. 74(C).
    15. Zhu, Limin & Zhao, Jing, 2025. "Do politicians’ career concerns affect firms’ environmental information disclosure? Evidence from Chinese publicly listed firms," Journal of Business Research, Elsevier, vol. 186(C).
    16. Mihail K. Miletkov & Viktoriya Staneva, 2025. "Financing a Sustainable Future: The Diverging Effects of Equity and Credit Market Development on Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 201(3), pages 735-757, October.
    17. Han, Sirui & Lu, Haitian & Wu, Hao, 2024. "ESG disclosure, investor awareness, and carbon risk pricing: Evidence from the Chinese market," International Review of Law and Economics, Elsevier, vol. 80(C).
    18. Timo Busch & Charles H. Cho & Andreas G. F. Hoepner & Giovanna Michelon & Joeri Rogelj, 2023. "Corporate Greenhouse Gas Emissions’ Data and the Urgent Need for a Science-Led Just Transition: Introduction to a Thematic Symposium," Journal of Business Ethics, Springer, vol. 182(4), pages 897-901, February.
    19. Hongbo He & Yiqing Chen & Ruiqi Guo & Lerong He & Hong Wan, 2025. "Cost of Vagueness: Stakeholders’ Responses to Firms’ ESG Information," Journal of Business Ethics, Springer, vol. 202(3), pages 543-566, December.
    20. Jiang, Chun & Qiu, Yihan & Li, Xiao-Lin & Si, Deng-Kui, 2024. "Does stock market liberalization promote entrepreneurship?," Economic Analysis and Policy, Elsevier, vol. 83(C), pages 480-495.

  6. Boubakri, Narjess & Cao, Zhongyu & El Ghoul, Sadok & Guedhami, Omrane & Li, Xinming, 2023. "National culture and bank liquidity creation," Journal of Financial Stability, Elsevier, vol. 64(C).

    Cited by:

    1. Zhao, Jing & Gao, Yaqin & Zhao, Lijuan, 2024. "How does deposit insurance affect household's risk sensitivity？Evidence from China," Research in International Business and Finance, Elsevier, vol. 67(PB).
    2. Duan, Yuejiao & Guedhami, Omrane & Li, Xinming & Zhao, Daxuan, 2024. "Individualism and bank financial structure similarity," Journal of International Money and Finance, Elsevier, vol. 148(C).
    3. McDonald, Paul, 2024. "Interrelationships of renewable energy zones in Queensland: localised effects on capacity value and congestion," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 818-833.
    4. Yi Zhou & Jiapeng Dai & Umar Farooq & Jaleel Ahmed & Klunko Natalia Sergeevna, 2023. "National Culture as a Determinant of Corporate Capital Structure: Empirical Evidence from Three Emerging Economies," Advances in Decision Sciences, Asia University, Taiwan, vol. 27(2), pages 122-144, June.
    5. Lindley, Ben & Roulstone, Tony & Locatelli, Giorgio & Rooney, Matt, 2023. "Can fusion energy be cost-competitive and commercially viable? An analysis of magnetically confined reactors," Energy Policy, Elsevier, vol. 177(C).
    6. Mühlichen, Michael & Lerch, Mathias & Sauerberg, Markus & Grigoriev, Pavel, 2023. "Different health systems – Different mortality outcomes? Regional disparities in avoidable mortality across German-speaking Europe, 1992–2019," Social Science & Medicine, Elsevier, vol. 329(C).
    7. Shamoushaki, Moein & Koh, S.C. Lenny, 2025. "Novel maturity scoring for hydrogen standards and economy in G20," Renewable and Sustainable Energy Reviews, Elsevier, vol. 212(C).
    8. Joanna Niedźwiedzińska, 2024. "Strategia celu inflacyjnego a problem wysokiej inflacji – czy uwarunkowania instytucjonalne mają znaczenie?," Bank i Kredyt, Narodowy Bank Polski, vol. 55(4), pages 425-458.
    9. Tran, Dung Viet & Bui, Dien Giau & Nguyen, Cuong & Hoang, Huy Viet, 2023. "Bank liquidity hoarding during the COVID-19 pandemic," Finance Research Letters, Elsevier, vol. 55(PB).
    10. Reed, Mark S. & McCarthy, Julia M. & Jensen, Eric A. & Everett, Rosie & Rudman, Hannah, 2025. "Governing high-integrity markets for ecosystem services," Ecosystem Services, Elsevier, vol. 75(C).
    11. Guo, Pin & Zhang, Cheng, 2023. "The impact of bank FinTech on liquidity creation: Evidence from China," Research in International Business and Finance, Elsevier, vol. 64(C).
    12. Aram, Mohsen & Nejadmalayeri, Ali, 2023. "National culture, lines of credit, and firm liquidity," International Review of Financial Analysis, Elsevier, vol. 90(C).
    13. Wang, Lu & Zhao, Xinli & Wan, Ling, 2025. "Analysis of the impact of bank digitization process on liquidity creation and risk-taking," Finance Research Letters, Elsevier, vol. 79(C).
    14. Kowalewski, Oskar, 2023. "Effect of operating multiple affiliates on the performance of subsidiaries in the same host country," Research in International Business and Finance, Elsevier, vol. 65(C).
    15. Bermpei, Theodora & Degl’Innocenti, Marta & Kalyvas, Antonios Nikolaos & Zhou, Si, 2023. "Lender individualism and monitoring: Evidence from syndicated loans," Journal of Financial Stability, Elsevier, vol. 66(C).
    16. Usman, Muhammad & Umar, Zaghum & Choi, Sun-Yong & Teplova, Tamara, 2024. "Quantifying endogenous and exogenous shocks to financial sector systemic risk: A comparison of GFC and COVID-19," The Quarterly Review of Economics and Finance, Elsevier, vol. 94(C), pages 281-293.
    17. Raz, Arisyi F., 2023. "Bank liquidity creation and religious observance: Evidence from Ramadan fasting," Journal of Corporate Finance, Elsevier, vol. 83(C).
    18. Ionuț NICA & Maria-Luiza CIOCAN, 2023. "Mapping circular pathways: a bibliometric exploration and Multilinear Regression Model of Romania's circular economy," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(4(637), W), pages 17-34, Winter.
    19. Jiang, Hai & Yuan, Chao & Lin, Zhitao, 2023. "Interbank liquidity transmission and the credit channel of monetary policy in China," Research in International Business and Finance, Elsevier, vol. 66(C).
    20. Geng, Guangjie & Cheng, Miao & Chen, Mingwei, 2025. "Collateral eligibility of credit claims and bank liquidity creation: Evidence from China," Emerging Markets Review, Elsevier, vol. 67(C).

  7. El Ghoul, Sadok & Guedhami, Omrane & Wei, Zuobao & Zhu, Yicheng, 2023. "Does public corruption affect analyst forecast quality?," Journal of Banking & Finance, Elsevier, vol. 154(C).

    Cited by:

    1. Gao, Yihong & Pan, Xingyu & Yuan, Na & Zheng, Xinwei, 2025. "How does political relationship building affect market efficiency? Evidence from China's anti-corruption campaign," International Review of Financial Analysis, Elsevier, vol. 103(C).
    2. Liu, Beibei & Li, Tingting & Li, Chuntao & Zhao, Yi, 2025. "Regional integrity and corporate investment efficiency," Journal of Economic Behavior & Organization, Elsevier, vol. 237(C).
    3. Yunqi Fan & Yanwei Zhang, 2024. "Consequences of firm-specific stock price crashes on analyst forecasts: Evidence from China," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-15, December.
    4. Song, Yingying & Chen, Xinxin, 2025. "Which opinion is more trustworthy: An analysts’ earnings forecast quality assessment framework based on machine learning," The North American Journal of Economics and Finance, Elsevier, vol. 75(PB).
    5. Wang, Zhao & He, Yali & Jiang, Tianqi, 2024. "Does the gender composition of local governments matter for firms’ information environment? Evidence from China," Economic Modelling, Elsevier, vol. 131(C).
    6. Kaakeh, Abdulkader & Parker, Simon C., 2025. "The impact of public corruption on marketplace lending outcomes," Journal of Banking & Finance, Elsevier, vol. 177(C).
    7. Mia Hang Pham & Harvey Nguyen & Martin Young & Anh Dao, 2024. "Who Keeps Company with the Wolf will Learn to Howl: Does Local Corruption Culture Affect Financial Adviser Misconduct?," Journal of Business Ethics, Springer, vol. 194(1), pages 185-210, September.
    8. Li, Shu & Zhang, Xiaoyun, 2025. "Can digital transformation of enterprise improve the information environment of the capital market? ——Evidence from Analyst's perspective," International Review of Economics & Finance, Elsevier, vol. 97(C).

  8. El Ghoul, Sadok & Fu, Zhengwei & Guedhami, Omrane & Saadi, Samir, 2023. "Firm inflexibility and the implied cost of equity," Finance Research Letters, Elsevier, vol. 52(C).

    Cited by:

    1. Capolupo, Paolo & Natalicchio, Angelo & Ardito, Lorenzo & Messeni Petruzzelli, Antonio & Cazzorla, Manuela, 2025. "Family-governed businesses and successful equity crowdfunding: The moderating role of sustainability orientation," Finance Research Letters, Elsevier, vol. 71(C).
    2. Roi D. Taussig, 2024. "Operating Cost Flexibility and Implications for Stock Returns," Risks, MDPI, vol. 12(10), pages 1-7, October.
    3. Xiaohui Xin & Ruoyu Zhu & Guoli Ou, 2024. "Does digital transformation lower equity financing costs? An explanation based on the “return-risk-expectation” framework," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-26, April.

  9. Ashraf, Badar Nadeem & El Ghoul, Sadok & Goodell, John W. & Guedhami, Omrane, 2022. "What does COVID-19 teach us about the role of national culture? Evidence from social distancing restrictions," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 80(C).

    Cited by:

    1. Ding, Haoyuan & Pu, Bo & Ying, Jiezhou, 2023. "Direct and spillover portfolio effects of COVID-19," Research in International Business and Finance, Elsevier, vol. 65(C).
    2. Ding, Shusheng & Wang, Anqi & Cui, Tianxiang & Du, Anna Min & Zhou, Xinmiao, 2024. "Commodity market stability and sustainable development: The effect of public health policies," Research in International Business and Finance, Elsevier, vol. 70(PB).
    3. Lindskog, Annika & Olsson, Ola, 2023. "Conditional Persistence? Historical Disease Exposure and Government Response to COVID-19," Working Papers in Economics 835, University of Gothenburg, Department of Economics, revised 11 Dec 2024.
    4. Boubaker, Sabri & Goodell, John W. & Kumar, Satish & Sureka, Riya, 2023. "COVID-19 and finance scholarship: A systematic and bibliometric analysis," International Review of Financial Analysis, Elsevier, vol. 85(C).
    5. Gao, Houbin & Ai, Qi & Zhou, Kuo & Wang, Qiaochu, 2023. "Genetic distance and cross-border M&A completion: Evidence from Chinese firms," Research in International Business and Finance, Elsevier, vol. 66(C).

  10. Paul Brockman & Sadok El Ghoul & Omrane Guedhami & Ying Zheng, 2022. "Does social trust affect international contracting? Evidence from foreign bond covenants," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(6), pages 1011-1044, August.

    Cited by:

    1. Paul Brockman & Wolfgang Drobetz & Sadok El Ghoul & Omrane Guedhami & Ying Zheng, 2024. "Do foreign institutional shareholders affect international debt contracting? Evidence from Yankee bond covenants," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 55(5), pages 551-576, July.
    2. Duong, Huu Nhan & Goyal, Abhinav & Rhee, S. Ghon, 2026. "Folklore narratives and IPO outcomes," Journal of Banking & Finance, Elsevier, vol. 182(C).
    3. Tang, Ying & Wang, Biliang & Moro, Andrea & Chen, Jinyu & Sheehan, Maura, 2025. "Trade credit financing, social trust, and financial distress: Evidence from Chinese listed companies," Research in International Business and Finance, Elsevier, vol. 79(C).
    4. Douglas Cumming & Minjie Zhang, 2023. "Bankruptcy law and angel investors around the world," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(7), pages 1256-1277, September.
    5. Zhang, Xueying & Feng, Chao & Walker, Thomas & Barabanov, Sergey, 2025. "Restrictive bond covenants: Evidence from family firms in China," Pacific-Basin Finance Journal, Elsevier, vol. 89(C).
    6. El Ghoul, Sadok & Gong, Zhaoran (Jason) & Guedhami, Omrane & Hou, Fangfang & Tong, Wilson H.S., 2023. "Social trust and firm innovation," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 84(C).
    7. Alshehabi, Ahmad & Halabi, Hussein & Adwan, Sami & Boubaker, Sabri, 2024. "The impact of industry competition on the value relevance of goodwill impairments across different information environments," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 56(C).
    8. Dong, Wenyi & Gao, Xin & Li, Donghui & Yang, Shijie, 2024. "Information centralization and stock price crash risk: Cross-country evidence," International Review of Financial Analysis, Elsevier, vol. 96(PA).
    9. Gao, Ning & Jiang, Wei & Jin, Jiaxu, 2024. "Unravelling investors’ diverging responses to U.S. firms' global ESG incidents," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 91(C).
    10. Hu, Yafei & Li, Yuanxu, 2025. "Effects of institutional (in)congruence between home and host countries on the ownership level of cross-border M&As," International Business Review, Elsevier, vol. 34(6).
    11. Abdelsalam, Omneya & Chantziaras, Antonios & Joseph, Nathan Lael & Tsileponis, Nikolaos, 2024. "Trust matters: A global perspective on the influence of trust on bank market risk," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 92(C).
    12. Shi, Lisi & Ho, Kung-Cheng & Liu, Ming-Yu, 2023. "Does societal trust make managers more trustworthy?," International Review of Financial Analysis, Elsevier, vol. 86(C).

  11. Aymen Karoui & Sadok El Ghoul, 2022. "Fund names versus family names: Implications for mutual fund flows," The Financial Review, Eastern Finance Association, vol. 57(3), pages 509-531, August.

    Cited by:

    1. Nehal Joshipura & Mayank Joshipura & Tanvi Joshi, 2025. "Decoding mutual fund performance: current pathways and new avenues," Quality & Quantity: International Journal of Methodology, Springer, vol. 59(4), pages 3113-3135, August.

  12. Berger, Allen N. & El Ghoul, Sadok & Guedhami, Omrane & Roman, Raluca A., 2022. "Geographic deregulation and banks’ cost of equity capital," Journal of International Money and Finance, Elsevier, vol. 120(C).

    Cited by:

    1. Ana María Herrera & Raoul Minetti & Matthew Schaffer, 2025. "Financial Liberalization, Credit Market Dynamism, and Allocative Efficiency," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(6), pages 1559-1596, September.
    2. Chronopoulos, Dimitris K. & Johari, Edie Erman Che & Scholtens, Bert & Sobiech, Anna L. & Wilson, John O.S. & Yilmaz, Muhammed H., 2023. "Competition and bank dividends," Journal of International Money and Finance, Elsevier, vol. 137(C).
    3. Amedeo De Cesari & Dudley Gilder & Winifred Huang & Enrico Onali, 2024. "Competition and Bank Payout Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(7), pages 1737-1778, October.

  13. Richard W. Carney & Sadok El Ghoul & Omrane Guedhami & Jane W. Lu & He Wang, 2022. "Political corporate social responsibility: The role of deliberative capacity," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(8), pages 1766-1784, October.

    Cited by:

    1. Roh, Taewoo & Xiao, Shufeng & Park, Byung Il & Ghauri, Pervez N., 2025. "Stakeholder pressure, democracy levels, and multinational enterprise corporate social responsibility: Stakeholder and institutional theories," Journal of Business Research, Elsevier, vol. 200(C).
    2. Amir Shoham & Jedrzej George Frynas & Ahmad Arslan & Ofra Bazel-Shoham & Sang Mook Lee & Zaheer Khan & Shlomo Tarba, 2024. "The interrelationships between corporate political activity and corporate environmental performance: the role of language diversity," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 55(9), pages 1204-1217, December.
    3. Xuan Zhang & Jingxian Zhang & Yongjie Feng, 2023. "Can companies get more government subsidies through improving their ESG performance? Empirical evidence from China," PLOS ONE, Public Library of Science, vol. 18(10), pages 1-25, October.
    4. Marie Di Nardo & Franck Brulhart & Marion Vieu, 2025. "Assessing the relevance of the concept of political corporate social responsibility in management research," Post-Print halshs-04837335, HAL.
    5. El Ghoul, Sadok & Guedhami, Omrane & Jamshed, Rana, 2024. "Global perspectives on corporate social responsibility, political institutions, and the political economy," Global Finance Journal, Elsevier, vol. 60(C).
    6. Christopher Wickert & Arjen Witteloostuijn, 2023. "Taking the P in political corporate social responsibility seriously," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(5), pages 928-937, July.
    7. Hee-Chan Song, 2024. "The war on drugs: how multi-stakeholder partnerships contribute to sustainable development in the Golden Triangle region," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 55(5), pages 593-615, July.
    8. Taewoo Roh & Shufeng Xiao & Byung Il Park & Ana M. Romero-Martínez, 2025. "Stakeholder Influences and MNC Subsidiaries’ CSR Under Institutional Voids: An Empirical Examination of International Service Enterprises in Korea," Management International Review, Springer, vol. 65(3), pages 487-512, June.
    9. Leonidas C. Leonidou & Svetla T. Marinova & Marin A. Marinov & Jonas S. Eduardsen & Pantelitsa P. Eteokleous, 2024. "An Enquiry into MNEs’ CSR Practices: Literature Assessment, Managerial Implications, and Academic Perspectives," Management International Review, Springer, vol. 64(5), pages 759-809, October.
    10. Song, Siwen & Jun, Aelee & Luo, Tianpei & Ma, Shiguang, 2024. "Political legitimacy and CSR reporting: Evidence from non-SOEs in China," Global Finance Journal, Elsevier, vol. 60(C).

  14. Sadok El Ghoul & Omrane Guedhami & Robert Nash & He (Helen) Wang, 2022. "Economic policy uncertainty and insider trading," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 45(4), pages 817-854, December.

    Cited by:

    1. Sun, Haibo & Bai, Tonghuan & Liu, Zhonglu, 2024. "Perceived policy uncertainty and enterprise greenwashing risk," Finance Research Letters, Elsevier, vol. 69(PA).
    2. Fang, Fei & Meng, Chong & Tang, Zhenyang & Veeren, Parianen, 2025. "Insider risk aversion and trade informativeness: evidence from pre-option-grant selling," Finance Research Letters, Elsevier, vol. 85(PA).
    3. Caporale, Guglielmo Maria & Kyriacou, Kyriacos & Spagnolo, Nicola, 2023. "Aggregate insider trading and stock market volatility in the UK," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 89(C).
    4. Karadas, Serkan & Schlosky, Minh Tam Tammy, 2024. "What explains trading behaviors of members of congress? Evidence from over 100,000 congressional stock trades," International Review of Economics & Finance, Elsevier, vol. 96(PB).
    5. Jiang, George J. & Ma, Xiaoli & Ma, Yun, 2025. "Insider trading patterns during the COVID period," Pacific-Basin Finance Journal, Elsevier, vol. 94(C).
    6. Zhaobo Zhu & Licheng Sun, 2024. "Economic policy uncertainty and short-term reversals," Post-Print hal-04691597, HAL.
    7. Deng, Wei & Gao, Lei & Xing, Fei & Yang, Ming, 2023. "Economic policy uncertainty, bank deposits, and liability structure," Emerging Markets Review, Elsevier, vol. 55(C).
    8. Lin, Boqiang & Li, Minyang, 2023. "Emerging Industry Development and Information Transmission in Financial Markets: Evidence from China's Renewable Energy," Energy Economics, Elsevier, vol. 128(C).
    9. Huobao Xie & Can Lin, 2024. "Economic policy uncertainty and directors and officers liability insurance: a perspective on capital market pressures," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 49(3), pages 605-635, July.
    10. Youness EL amine & Mounir benboubker, 2025. "Analyzing the dynamics of oil price volatility: a comparative study of market fundamentals and global uncertainty," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 42(3), pages 829-851, October.

  15. Attig, Najah & Driss, Hamdi & El Ghoul, Sadok, 2021. "Credit ratings quality in uncertain times," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).

    Cited by:

    1. Singhal, Himanshu & Verma, Arushi & Chakraborty, Madhumita, 2024. "The quality of credit ratings amid geopolitical risk," Economics Letters, Elsevier, vol. 234(C).
    2. Kladakis, George & Skouralis, Alexandros, 2025. "Sovereign credit rating downgrades and Growth-at-Risk," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 103(C).
    3. Nelson R. Ramírez-Rondán & Renato M. Rojas-Rojas & Julio A. Villavicencio, 2022. "Do institutions mitigate the uncertainty effect on sovereign credit ratings?," Documentos de Trabajo / Working Papers 2022-514, Departamento de Economía - Pontificia Universidad Católica del Perú.
    4. Dang, Man & Puwanenthiren, Premkanth & Jones, Edward & Nguyen, Thieu Quang & Vo, Xuan Vinh & Nadarajah, Sivathaasan, 2022. "Strategic archetypes, credit ratings, and cost of debt," Economic Modelling, Elsevier, vol. 114(C).
    5. Ramírez-Rondán, Nelson R. & Rojas-Rojas, Renato M. & Villavicencio, Julio A., 2023. "Political institutions, economic uncertainty and sovereign credit ratings," Finance Research Letters, Elsevier, vol. 53(C).
    6. Chen, Dangxing & Ye, Jiahui & Ye, Weicheng, 2023. "Interpretable selective learning in credit risk," Research in International Business and Finance, Elsevier, vol. 65(C).
    7. Huang, Rui & Hooy, Chee-Wooi, 2025. "The impact of client defaults on inflated rating of credit rating agencies: Evidence from China," Finance Research Letters, Elsevier, vol. 85(PA).

  16. Driss, Hamdi & Drobetz, Wolfgang & El Ghoul, Sadok & Guedhami, Omrane, 2021. "Institutional investment horizons, corporate governance, and credit ratings: International evidence," Journal of Corporate Finance, Elsevier, vol. 67(C).

    Cited by:

    1. Khoo, Joye & Cheung, Adrian (Wai Kong), 2024. "Subordinate executives’ horizon and cash holdings," International Review of Economics & Finance, Elsevier, vol. 96(PA).
    2. Mian, Rehman U. & Irfan, Saadia & Mian, Affan, 2023. "Foreign institutional investment horizon and earnings management: Evidence from around the world," International Review of Financial Analysis, Elsevier, vol. 86(C).
    3. Arikawa, Yasuhiro & Byoun, Soku & Han, Seung Hun & Pagano, Michael S. & Shin, Yoon S., 2024. "The role of Japanese corporate governance features in explaining rating differences between global and Japanese rating agencies," Journal of Banking & Finance, Elsevier, vol. 164(C).
    4. Wang, Yulin & Zhang, Xueying & Walker, Thomas & Liedtke, Gerrit, 2026. "Institutional ownership and bond pricing: Evidence from China," Emerging Markets Review, Elsevier, vol. 70(C).
    5. Ya-Fang Wang & Yu-Chu Hsieh, 2023. "Credit Rating and Board Evaluation of Family Firms," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 16(1), pages 7-18, October.
    6. Cumming, Douglas & Lu, Fanyu & Xu, Limin & Yu, Chia-Feng (Jeffrey), 2025. "Does stakeholder orientation mitigate shareholder-employee conflicts? Evidence from a quasi-natural experiment," Journal of Corporate Finance, Elsevier, vol. 91(C).
    7. Jafari, Mahboubeh, 2024. "Uncertainty and entrepreneurship in oil-rich developing countries: Does institution matter?," Resources Policy, Elsevier, vol. 99(C).
    8. Nguyen, Van Ha & Nguyen, Thanh Hang & Ho, Ly & Dang, Tung Lam, 2025. "When reputation hurts: ESG risk and the cost of equity capital around the world," Journal of Multinational Financial Management, Elsevier, vol. 80(C).
    9. Paul Brockman & Wolfgang Drobetz & Sadok El Ghoul & Omrane Guedhami & Ying Zheng, 2024. "Do foreign institutional shareholders affect international debt contracting? Evidence from Yankee bond covenants," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 55(5), pages 551-576, July.
    10. Nguyen, Harvey & Pham, Anh Viet & Pham, Man Duy (Marty) & Pham, Mia Hang, 2025. "Climate change and corporate credit worthiness: International evidence," Global Finance Journal, Elsevier, vol. 64(C).
    11. Zhang, Huaqing & Zhang, Xiangjian & Tan, Haoyu & Tu, Yongqian, 2024. "Institutional investors' shareholding, corporate governance, and corporate innovation investment," International Review of Economics & Finance, Elsevier, vol. 96(PB).
    12. Jaspreet Kaur & Madhu Vij & Ajay Kumar Chauhan, 2023. "Signals influencing corporate credit ratings—a systematic literature review," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 50(1), pages 91-114, March.
    13. Li, Jinxian & Gong, Yujing & Ho, Kung-Cheng & Zhang, Cheng, 2023. "Trust and price efficiency," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 89(C).
    14. Wang, Yiying & Cui, Dangdang, 2025. "Tax credit rating changes and the cost of debt financing: Evidence from China," The North American Journal of Economics and Finance, Elsevier, vol. 80(C).
    15. Cai, Xiangshang & Gao, Yang & Wu, Zhiting & Yuan, Jiayi, 2024. "Chief executive officer marital status and corporate credit ratings," International Review of Financial Analysis, Elsevier, vol. 95(PA).
    16. Balasingham Balachandran & Huu Nhan Duong & Tony van Zijl & Arfian Erma Zudana, 2023. "Does the threat of takeover affect default risk?," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 50(9-10), pages 1572-1611, October.
    17. Peng, Huan & Bumailikaimu, Sulidan & Feng, Ting, 2024. "The power of market: Venture capital and enterprise digital transformation," The North American Journal of Economics and Finance, Elsevier, vol. 74(C).
    18. Yin, Wenjing & Wang, Gaomiao & Yu, Yumiao, 2025. "Watchdogs of greenwashing: The role of long-term institutional cross-ownership," Global Finance Journal, Elsevier, vol. 67(C).
    19. Zhihao Wang & Kezhi Liao & Sisi Wang, 2024. "Institutional investor horizons, ownership structure and investment efficiency in China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(1), pages 739-782, March.
    20. Jun Wen & Umar Farooq & Suhaib Anagreh & Mosab I. Tabash, 2022. "Quality of governance and corporate real investment: Assessing the impact of foreign aid," Bulletin of Economic Research, Wiley Blackwell, vol. 74(4), pages 1115-1134, October.
    21. Xiaoqiong Wang & Siqi Wei & Xiaoyang Zhu, 2024. "Economic policy uncertainty and heterogeneous institutional investor horizons," Review of Quantitative Finance and Accounting, Springer, vol. 62(1), pages 39-67, January.
    22. Thompson, Linh, 2025. "Human capital disclosures and institutional ownership," Finance Research Letters, Elsevier, vol. 71(C).
    23. Rahim, Imad & Mian, Rehman U. & Mian, Affan, 2024. "Country-level heterogeneity in foreign institutional investment horizons and firm value," International Review of Financial Analysis, Elsevier, vol. 92(C).
    24. Imad Rahim & Rehman U. Mian & Affan Mian, 0000. "Country-level foreign institutional investment horizons, excess cash holdings, and firm value: International evidence," Proceedings of Economics and Finance Conferences 13815929, International Institute of Social and Economic Sciences.
    25. Hossain, Ashrafee & Masum, Abdullah-Al & Benkraiem, Ramzi, 2024. "Long-term institutional investors and climate change news Beta," Journal of Corporate Finance, Elsevier, vol. 89(C).
    26. Yu, Baojun & Li, Changming & Mirza, Nawazish & Umar, Muhammad, 2022. "Forecasting credit ratings of decarbonized firms: Comparative assessment of machine learning models," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    27. Sourour Ben Saad & Lotfi Belkacem, 2025. "The impact of economic policy uncertainty on capital structure decisions: Does institutional ownership characteristics matter?," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 22(1), pages 81-93, March.
    28. Hasan, Mostafa Monzur & Hossain, Ashrafee & Jiang, Haiyan, 2025. "Political sentiment and credit ratings," The British Accounting Review, Elsevier, vol. 57(3).
    29. Shi, Lisi & Ho, Kung-Cheng & Liu, Ming-Yu, 2023. "Does societal trust make managers more trustworthy?," International Review of Financial Analysis, Elsevier, vol. 86(C).

  17. Sadok El Ghoul & Omrane Guedhami & Chuck C Y Kwok & Ying Zheng, 2021. "The role of creditor rights on capital structure and product market interactions: International evidence," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(1), pages 121-147, February.

    Cited by:

    1. Li, Qian & Wang, Shihao & Song, Victor, 2026. "Controlling shareholders Abroad: How overseas residency rights influence the costs of corporate Leverage?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 106(C).
    2. Douglas Cumming & Minjie Zhang, 2023. "Bankruptcy law and angel investors around the world," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(7), pages 1256-1277, September.
    3. Li, Qian & Wang, Shihao & Song, Victor, 2023. "Product competition, political connections, and the costs of high leverage," Journal of Empirical Finance, Elsevier, vol. 74(C).
    4. Xie, Huailing & Xu, Xiaodong & Hsu, Yuan-Teng, 2023. "Does disclosure of customers' identities benefit a company's performance in the product market? Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 82(C).
    5. Christopher Dupuis & Ying Zheng, 2024. "Import Penetration and Corporate Misconduct: A Natural Experiment," Journal of Business Ethics, Springer, vol. 195(3), pages 475-506, December.
    6. Wang, Shihao & Wang, Jiamin & Sahil Maqsood, Umer & Wang, Keyun & Li, Qian, 2023. "Creditor protection and trade credit financing: Evidence from a quasi-natural experiment in China," Finance Research Letters, Elsevier, vol. 57(C).
    7. Mihail K. Miletkov & Viktoriya Staneva, 2025. "Financing a Sustainable Future: The Diverging Effects of Equity and Credit Market Development on Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 201(3), pages 735-757, October.

  18. Ruiyuan Chen & Sadok El Ghoul & Omrane Guedhami & Chuck C. Y. Kwok & Robert Nash, 2021. "International evidence on state ownership and trade credit: Opportunities and motivations," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(6), pages 1121-1158, August.

    Cited by:

    1. Liukai Wang & Caiting Wang & Larisa Yarovaya & Heshu Huang, 2024. "Trade credit and corporate digital transformation: The role of managerial ability," The Financial Review, Eastern Finance Association, vol. 59(3), pages 779-806, August.
    2. Franklin Allen & Meijun Qian, 2025. "Alternative finance in the international business context: a review and future research," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 56(1), pages 43-61, February.
    3. Jiménez, Alfredo & Bayraktar, Secil & Choi, Seong-Jin & Pattnaik, Chinmay, 2025. "Democracy’s political ideology and corporate political activities: The role of state capacity, firm size, and capital location," Journal of Business Research, Elsevier, vol. 194(C).
    4. Douglas Cumming & Pedro Monteiro, 2023. "Sovereign wealth fund investment in venture capital, private equity, and real asset funds," Journal of International Business Policy, Palgrave Macmillan, vol. 6(3), pages 330-355, September.
    5. Zhang, Cheng & Lee, Yun-Chi & Ho, Kung-Cheng & Shen, Xixi, 2023. "Influence of institutional differences on trade credit use during pandemics," Pacific-Basin Finance Journal, Elsevier, vol. 77(C).
    6. Li, Weiping & Xie, Chenyuan & Liu, Cai, 2024. "The power of the many: how retail investor attention reshapes corporate trade credit and bank loans," Finance Research Letters, Elsevier, vol. 69(PB).
    7. Liu, Yi & Zhang, Hengyuan & Chen, Daniel Q., 2024. "On the economic implications of international travel restrictions: Evidence from Chinese MNEs’ firm value," Journal of Business Research, Elsevier, vol. 170(C).
    8. Zaman, Rashid & Atawnah, Nader & Banigidadmath, Deepa & Nadeem, Muhammad & Liu, Jia, 2025. "Do companies’ green credentials enhance trade credit provisions? Global evidence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 103(C).
    9. He, Huan & Ye, Yuxiao & Huo, Baofeng, 2024. "Can employee training facilitate production repurposing in crises? An ability-motivation-opportunity perspective," International Journal of Production Economics, Elsevier, vol. 278(C).
    10. Yuming Zhang & Han Liu & Shuang Li & Chao Xing, 2023. "The Digital Transformation Effect in Trade Credit Uptake: The Buyer Perspective," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 59(7), pages 2056-2078, May.
    11. Douglas Cumming & Minjie Zhang, 2023. "Bankruptcy law and angel investors around the world," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(7), pages 1256-1277, September.
    12. Miao, Senlin & Zhu, Zhaobo & Deng, Wesley (Xiaohu) & Wen, Fenghua, 2024. "Law, politics, and trade credit in China," Journal of Corporate Finance, Elsevier, vol. 88(C).
    13. Song, Gaoya & Li, Quan, 2024. "Mixed ownership reform and trade credit: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 95(PC).
    14. Dong, Liping & El Ghoul, Sadok & Guedhami, Omrane & Uchida, Konari & Zhang, Yuyang, 2024. "Related-party transactions and CEO foreign experience: Evidence from China," Journal of Behavioral and Experimental Finance, Elsevier, vol. 43(C).
    15. Pilar Rivera-Franco & Ignacio Requejo & Isabel Suárez-González, 2025. "Does CSR facilitate access to trade credit? The role of family ownership," Review of Managerial Science, Springer, vol. 19(5), pages 1477-1512, May.
    16. Wang, Xun & Yu, Jingwen, 2023. "COVID-19 pandemic and corporate liquidity: The role of SOEs’ trade credit response," Journal of International Money and Finance, Elsevier, vol. 137(C).
    17. Li, Chen & Sensoy, Ahmet & Song, Ce & Zhang, Mi, 2023. "Does corporate green innovation behaviour impact trade credit? Evidence from China," Research in International Business and Finance, Elsevier, vol. 66(C).
    18. Sadok El Ghoul & Omrane Guedhami & Sattar A. Mansi & Oumar Sy, 2023. "Event studies in international finance research," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(2), pages 344-364, March.
    19. Ming Chen & Jiao Wu, 2023. "State ownership may not be bad: Based on bibliometric research (2002–2021)," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(2), pages 1285-1304, March.
    20. Baños-Caballero, Sonia & García-Teruel, Pedro J. & Martínez-Solano, Pedro, 2023. "Trade credit, creditor protection and banking crisis," Global Finance Journal, Elsevier, vol. 57(C).
    21. Ardito, Lorenzo & Miroshnychenko, Ivan & Messeni Petruzzelli, Antonio & De Massis, Alfredo, 2025. "Family CEO and radical innovation: A stewardship perspective," Research Policy, Elsevier, vol. 54(1).
    22. Shuke Fu & Yingchen Ge & Guopeng Wang & Jiali Tian & Jiachao Peng & Jia Xiao, 2026. "The impact of digital finance on trade credit: empirical evidence from the Yangtze River Economic Belt," Economic Change and Restructuring, Springer, vol. 59(1), pages 1-47, February.

  19. El Ghoul, Sadok & Fu, Zhengwei & Guedhami, Omrane, 2021. "Zombie firms: Prevalence, determinants, and corporate policies," Finance Research Letters, Elsevier, vol. 41(C).

    Cited by:

    1. Li, Xinyu & Wang, Huacheng & Li, Rong, 2023. "A hidden channel of “blood transfusion”: Internal capital market subsidies and zombie firms," The British Accounting Review, Elsevier, vol. 55(6).
    2. Wang, Changrong & Richardson, Grant & Cao, Yanming, 2024. "Long live the walking dead? Corporate tax avoidance and zombie firms in China," The British Accounting Review, Elsevier, vol. 56(3).
    3. Edward I. Altman & Rui Dai & Wei Wang, 2024. "Global zombie companies: measurements, determinants, and outcomes," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 55(6), pages 723-744, August.
    4. Fukuda, Akira & Yamamoto, Isamu, 2025. "Ex-ante and ex-post evaluation of zombie firms arising from the EAS program during the COVID-19 pandemic: A study of Japanese SMEs," Japan and the World Economy, Elsevier, vol. 74(C).
    5. Honda, Tomohito & Hosono, Kaoru & Miyakawa, Daisuke & Ono, Arito & Uesugi, Iichiro, 2023. "Determinants and effects of the use of COVID-19 business support programs in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 67(C).
    6. Tan, Ruipeng & Zhu, Wenjun & Pan, Lulu & Wu, Huaqing, 2024. "Short selling and de-zombification: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 93(PB), pages 86-102.
    7. Ono, Arito & Suzuki, Katsushi & Uesugi, Iichiro, 2024. "When banks become pure creditors: The effects of declining shareholding by Japanese banks on bank lending and firms’ risk-taking," Journal of Financial Stability, Elsevier, vol. 73(C).
    8. Tan, Ruipeng & Zhu, Wenjun & Xu, Mengmeng & Zhang, Zixuan, 2025. "From voluntary to mandatory implementation: The impact of green credit policy on de-zombification in China," Energy Economics, Elsevier, vol. 141(C).
    9. Nora Muñoz-Izquierdo & José Manuel Jiménez Mazarío & María-del-Mar Camacho-Miñano, 2024. "Zombie firms and disclosures in the expanded audit report," Review of Managerial Science, Springer, vol. 18(6), pages 1519-1555, June.
    10. Jing Bu & Julan Du & Jiancai Pi, 2024. "Do zombie firms affect healthy firms' exporting? Evidence from China," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 32(3), pages 707-738, July.
    11. Zhu, Ruoyu & Tan, Kehu & Xin, Xiaohui, 2024. "Does the opening of high-speed rail inhibit corporate zombification?," International Review of Economics & Finance, Elsevier, vol. 93(PA), pages 372-389.
    12. Zhang, Xiaoqian & Huang, Bin, 2022. "Does bank competition inhibit the formation of zombie firms?," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 1045-1060.
    13. Yongcuo Zhaxi & Yukihiro Yasuda, 2024. "Determinants of Zombie Firms: The Impact of Corporate Insolvency Efficiency and Cultural Factors," JRFM, MDPI, vol. 17(8), pages 1-13, July.
    14. Feng, Ling & Lang, Henan & Pei, Tingting, 2022. "Zombie firms and corporate savings: Evidence from Chinese manufacturing firms," International Review of Economics & Finance, Elsevier, vol. 79(C), pages 551-564.

  20. Boubakri, Narjess & El Ghoul, Sadok & Guedhami, Omrane & Wang, He (Helen), 2021. "Corporate social responsibility in emerging market economies: Determinants, consequences, and future research directions," Emerging Markets Review, Elsevier, vol. 46(C).

    Cited by:

    1. Nguyen, Nga & Priporas, Constantinos-Vasilios & McPherson, Mark & Manyiwa, Simon, 2023. "CSR-related consumer scepticism: A review of the literature and future research directions," Journal of Business Research, Elsevier, vol. 169(C).
    2. Baatwah, Saeed Rabea & Al-Qadasi, Adel Ali & Al-Shehri, Amer Mohammed & Derouiche, Imen, 2022. "Corporate social responsibility budgeting and spending during COVID–19 in Oman: A humanitarian response to the pandemic," Finance Research Letters, Elsevier, vol. 47(PB).
    3. Li, Bin & Guo, Fei & Xu, Lei & Meng, Siqi, 2024. "Fintech business and corporate social responsibility practices," Emerging Markets Review, Elsevier, vol. 59(C).
    4. Xin, Zhuoyao & Zhang, Zongyi & Xiang, Cheng, 2024. "Do suppliers value clients’ ESG profiles? Evidence from Chinese firms," International Review of Economics & Finance, Elsevier, vol. 91(C), pages 241-258.
    5. Jyotirani Gupta & Niladri Das, 2024. "Too little or too much? The curvilinear relationship between corporate social responsibility disclosure and investment efficiency in BRICS economies," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(4), pages 2600-2618, July.
    6. Yuan, Baolong & Cao, Xueyun, 2022. "Do corporate social responsibility practices contribute to green innovation? The mediating role of green dynamic capability," Technology in Society, Elsevier, vol. 68(C).
    7. Ferrat, Yann & Daty, Frédéric & Burlacu, Radu, 2022. "Does a sustainability risk premium exist where it matters the most?," Emerging Markets Review, Elsevier, vol. 53(C).
    8. Qiu, Wenkang & Xiang, Cheng & Li, Chunhong & Chen, Yinong, 2025. "Institutional investor cliques and ESG performance: Evidence from Chinese firms," International Review of Economics & Finance, Elsevier, vol. 100(C).
    9. Jinli Xiao & Weijuan Liang & Yue Pan & Gary Gang Tian, 2025. "Cultivating CSR: The Artistic Influence of Top Executives on Corporate Responsibility," Journal of Business Ethics, Springer, vol. 201(1), pages 145-167, October.
    10. Jing Zhang & Minghao Zhu & Feng Liu, 2024. "Find who is doing social good: using machine learning to predict corporate social responsibility performance," Operations Management Research, Springer, vol. 17(1), pages 253-266, March.
    11. Qian, Binsheng & Poshakwale, Sunil & Tan, Yusen, 2024. "‘E’ of ESG and firm performance: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 96(PB).
    12. Junaid Aftab & Nabila Abid & Huma Sarwar & Anam Amin & Mahsa Abedini & Monica Veneziani, 2024. "Does corporate social responsibility drive financial performance? Exploring the significance of green innovation, green dynamic capabilities, and perceived environmental volatility," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(3), pages 1634-1653, May.
    13. Tatiana Chopova & Naomi Ellemers & Elena Sinelnikova, 2024. "Morality matters: social psychological perspectives on how and why CSR activities and communications affect stakeholders’ support - experimental design evidence for the mediating role of perceived organizational morality comparing WEIRD (UK) and non-," International Journal of Corporate Social Responsibility, Springer, vol. 9(1), pages 1-12, December.
    14. Cemil Kuzey & Habiba Al-Shaer & Ali Uyar & Abdullah S. Karaman, 2024. "Do board monitoring and audit committee quality help risky firms reduce CSR controversies?," Review of Quantitative Finance and Accounting, Springer, vol. 63(3), pages 1007-1045, October.
    15. Shirodkar, Vikrant & Nayyar, Rishika & Sinha, Paresha, 2025. "When do firms overspend on CSR? The impacts of foreignness and institutional distance," Journal of International Management, Elsevier, vol. 31(1).
    16. He, Jingbin & Ma, Xinru, 2023. "Is corporate social responsibility engagement influenced by nearby firms? Evidence from China," International Review of Financial Analysis, Elsevier, vol. 86(C).
    17. Xue, Shuyu & Chang, Qi & Xu, Jingwen, 2023. "The effect of voluntary and mandatory corporate social responsibility disclosure on firm profitability: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 77(C).
    18. El Ghoul, Sadok & Guedhami, Omrane & Jamshed, Rana, 2024. "Global perspectives on corporate social responsibility, political institutions, and the political economy," Global Finance Journal, Elsevier, vol. 60(C).
    19. Thanyawee Pratoomsuwan & Yingyot Chiaravutthi, 2023. "Willingness to invest and the assurance of corporate social responsibility reports," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(1), pages 192-208, January.
    20. Saeed, Asif & Alnori, Faisal & Yaqoob, Gohar, 2023. "Corporate social responsibility, industry concentration, and firm performance: Evidence from emerging Asian economies," Research in International Business and Finance, Elsevier, vol. 64(C).
    21. Shrestha, Chaman & Andrikopoulos, Panagiotis & Park, Jin Suk, 2025. "ESG rating and financial performance in the emerging markets: The moderating effects of cross-listing and industry type," Research in International Business and Finance, Elsevier, vol. 77(PA).
    22. Wu, Po-yang & Zhang, Jing & Yang, Siyu, 2024. "Media pressure, corporate social responsibility, and the risk of share price crash," International Review of Economics & Finance, Elsevier, vol. 96(PB).
    23. Shobha Tewari & Bibek Bhattacharya, 2023. "Financial resources, corporate social responsibility, and ownership type: Evidence from India," Asia Pacific Journal of Management, Springer, vol. 40(3), pages 1093-1132, September.
    24. Yuan Qiu & Di Zhou, 2024. "De‐politicization and corporate social responsibility: Empirical evidence from China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(4), pages 3668-3684, July.
    25. Meng-Ju Wu & Chung-Hsien Hung & Yuan Chang, 2026. "Directors’ and Officers’ Liability Insurance, Directors’ and Managerial Overconfidence, and ESG Performance," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 16(1), pages 1-5.
    26. Ergen Keleş, Fatma Hilal & Keleş, Emrah & Schlegelmilch, Bodo B., 2025. "CSR news and stock prices: A fine-grained analysis in an underexamined Muslim setting," Emerging Markets Review, Elsevier, vol. 67(C).
    27. Garanina, Tatiana & Kim, Oksana, 2023. "The relationship between CSR disclosure and accounting conservatism: The role of state ownership," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 50(C).
    28. Jyotirani Gupta & Niladri Das, 2024. "Navigating the trade‐off between corporate social responsibility disclosure and the cost of financing: Evidence from BRICS economies," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 45(4), pages 1927-1943, June.
    29. Jingjing Huang, 2023. "Doing good in periods of political turnover: the turnover of local officials, local corruption and corporate social responsibility," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 13(4), pages 781-833, December.
    30. Karim Ben Khediri, 2021. "CSR and investment efficiency in Western European countries," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(6), pages 1769-1784, November.
    31. Yuan Chang & Kun-Tsung Wu & Shu-Hui Lin & Chia-Jung Lin, 2024. "Board gender diversity and corporate social responsibility," International Journal of Corporate Social Responsibility, Springer, vol. 9(1), pages 1-29, December.
    32. Ajay, Ranjitha & Jory, Surendranath Rakesh & Syamraj, K.P., 2024. "Advancing understanding of ESG score and executive compensation relationships in the Indian context," Global Finance Journal, Elsevier, vol. 62(C).
    33. Hao Wang & Tao Zhang & Xi Wang, 2025. "Are companies responding to minimum wage increases by reducing corporate social responsibility?," PLOS ONE, Public Library of Science, vol. 20(1), pages 1-25, January.
    34. Song, Siwen & Jun, Aelee & Luo, Tianpei & Ma, Shiguang, 2024. "Political legitimacy and CSR reporting: Evidence from non-SOEs in China," Global Finance Journal, Elsevier, vol. 60(C).
    35. Philip Teng Lin & Yanhui Jin & Fei Gao & Ruifeng Yang & Qian Lin, 2023. "Institutional Investors, CSR Report Readability and the Moderating Role of ESG Performance," SAGE Open, , vol. 13(4), pages 21582440231, November.
    36. Ahmad Fauze Abdul Hamit, 2024. "Dynamic Triangulation between Shariah Compliance, ESG Transparency, and Firm Profitability," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(12), pages 1169-1180, December.
    37. Rohan Kumar Mishra & Frank Obenpong Kwabi & Abhijeet Chandra, 2025. "Corporate Social Responsibility, Related Party Transaction and Earnings Management: Evidence from India," Journal of Business Ethics, Springer, vol. 201(2), pages 331-369, October.

  21. Boubakri, Narjess & Chen, Ruiyuan & El Ghoul, Sadok & Guedhami, Omrane, 2021. "State Ownership and Debt Structure," Review of Corporate Finance, now publishers, vol. 1(1-2), pages 223-257, April.

    Cited by:

    1. Oskar Kowalewski & Muhammad Farooq Ahmad & Saqib Aziz & Rwan El-Khatib, 2022. "Firm-Level Political Risk and Dividend Payout," Working Papers 2022-ACF-04, IESEG School of Management.
    2. Douglas Cumming & Pedro Monteiro, 2023. "Sovereign wealth fund investment in venture capital, private equity, and real asset funds," Journal of International Business Policy, Palgrave Macmillan, vol. 6(3), pages 330-355, September.
    3. Olschewski, Sebastian & Jakob, Lukas & Schmidt, Ulrich, 2023. "Investor preferences for positive social externalities and state-owned enterprises’ facilitated access to capital," Open Access Publications from Kiel Institute for the World Economy 266914, Kiel Institute for the World Economy.
    4. Li, Weiping & Xie, Chenyuan & Liu, Cai, 2024. "The power of the many: how retail investor attention reshapes corporate trade credit and bank loans," Finance Research Letters, Elsevier, vol. 69(PB).
    5. Keming Li & Desmond Tsang & Zeshen Ye, 2024. "Females on Boards and Default Risk in the Chinese Real Estate Industry," International Real Estate Review, Global Social Science Institute, vol. 27(2), pages 169-202.
    6. Tao, Qizhi & Wei, K.C. John & Xiang, Xueman & Yi, Biao, 2022. "Board directors' foreign experience and firm dividend payouts," Journal of Corporate Finance, Elsevier, vol. 75(C).

  22. Attig, Najah & El Ghoul, Sadok & Guedhami, Omrane & Zheng, Xiaolan, 2021. "Dividends and economic policy uncertainty: International evidence," Journal of Corporate Finance, Elsevier, vol. 66(C).

    Cited by:

    1. Chang, Chiu-Lan & Zhang, Jiahui & Lin, Yu-En, 2024. "Climate policy uncertainty, corporate social responsibility and corporate investments of the energy firms," Energy Economics, Elsevier, vol. 140(C).
    2. Japan Huynh, 2025. "Banking uncertainty and corporate financial constraints," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 30(1), pages 626-651, January.
    3. Shehata, Nermeen & El-Helaly, Moataz & Hossain, Mohammed, 2025. "A tale of two revolutions: Environmental, social, and governance performance and dividend policy in Egyptian-listed companies during unstable times," Research in International Business and Finance, Elsevier, vol. 75(C).
    4. Choi, Young Mok & Park, Kunsu, 2024. "Economic policy uncertainty and dividend policy: Insight from private firms," International Review of Financial Analysis, Elsevier, vol. 96(PB).
    5. Chang, Yuyuan & He, Wen & Mi, Lin, 2024. "Climate risk and payout flexibility around the world," Journal of Banking & Finance, Elsevier, vol. 166(C).
    6. Sawarn, Ujjawal & Rohit, Abhishek & Kumar, Ankit, 2025. "Economic conditions and related party transactions in India," Journal of Contemporary Accounting and Economics, Elsevier, vol. 21(3).
    7. Ding, Na & Feng, Panpan & Liu, Jianjun & Ren, Zhaoyue & Zhang, Xueyong, 2025. "Economic policy uncertainty and covenants in venture capital contracts," Journal of Banking & Finance, Elsevier, vol. 181(C).
    8. Attig, Najah & Driss, Hamdi & El Ghoul, Sadok, 2021. "Credit ratings quality in uncertain times," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
    9. Salvatore Federico & Andrea Modena & Luca Regis, 2025. "Coordinating Bank Dividend and Capital Regulation," Carlo Alberto Notebooks 746 JEL Classification: C, Collegio Carlo Alberto.
    10. Oskar Kowalewski & Muhammad Farooq Ahmad & Saqib Aziz & Rwan El-Khatib, 2022. "Firm-Level Political Risk and Dividend Payout," Working Papers 2022-ACF-04, IESEG School of Management.
    11. Amanjot Singh & Harminder Singh & Venura Welagedara, 2024. "Aggregate uncertainty, information acquisition, and analyst stock recommendations," International Review of Finance, International Review of Finance Ltd., vol. 24(4), pages 604-640, December.
    12. Christian Dreyer & Oliver Schulz, 2023. "Policy uncertainty and corporate investment: public versus private firms," Review of Managerial Science, Springer, vol. 17(5), pages 1863-1898, July.
    13. Yu, Shengjing & Zheng, Xiaolan & Liu, Martin J., 2025. "Board digital expertise and digital innovation: Evidence from commercial banks in China," Research in International Business and Finance, Elsevier, vol. 76(C).
    14. Ayed, Sabrine & Ben-Amar, Walid & Arouri, Mohamed, 2024. "Climate policy uncertainty and corporate dividends," Finance Research Letters, Elsevier, vol. 60(C).
    15. Wang, Xueting & Wang, Man & Wu, Haoran, 2024. "Geopolitical risk and corporate cash Holdings in China: Precautionary motive and agency problem perspectives," International Review of Financial Analysis, Elsevier, vol. 93(C).
    16. Aslam, Faheem & Hunjra, Ahmed Imran & Memon, Bilal Ahmed & Zhang, Mingda, 2024. "Interplay of multifractal dynamics between shadow policy rates and energy markets," The North American Journal of Economics and Finance, Elsevier, vol. 71(C).
    17. Uyar, Ali & Wasiuzzaman, Shaista & Kuzey, Cemil & Karaman, Abdullah S., 2024. "Dividend payout and corporate transparency: Do CSR governance mechanisms matter?," Research in International Business and Finance, Elsevier, vol. 71(C).
    18. Xu, Xixiong & Lin, Cuiliang & Wang, Maochuan, 2024. "Does parenting daughters increase corporate cash dividends? Evidence from Chinese family firms," Journal of Behavioral and Experimental Finance, Elsevier, vol. 41(C).
    19. Black, Jeffrey R. & Das, Nirmol & Leal, Diego, 2025. "Economic policy uncertainty and corporate bond liquidity," Journal of Banking & Finance, Elsevier, vol. 170(C).
    20. Li, Jing & Nie, Huihua & Ruan, Rui & Shen, Xinyi, 2024. "Subjective perception of economic policy uncertainty and corporate social responsibility: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 91(C).
    21. Hussinger, Katrin & Issah, Wunnam Basit, 2025. "Patents, trade secrets and performance aspirations in family firms," Journal of Business Research, Elsevier, vol. 196(C).
    22. Francesco Chirico & Kimberly A. Eddleston & Pankaj C. Patel, 2025. "Does it Pay to Patent Green Innovations? Stock Market Reactions to Family and Nonfamily Firms’ Green Patents," Journal of Business Ethics, Springer, vol. 198(4), pages 947-970, May.
    23. El Ghoul, Sadok & Guedhami, Omrane & Mansi, Sattar & Wang, He (Helen), 2023. "Economic policy uncertainty, institutional environments, and corporate cash holdings," Research in International Business and Finance, Elsevier, vol. 65(C).
    24. Salvatore Federico & Andrea Modena & Luca Regis, 2025. "The Power of Faith: Effects of an Imam-led Information Campaign on Labor Supply and Social Interactions," CRC TR 224 Discussion Paper Series crctr224_2025_622, University of Bonn and University of Mannheim, Germany.
    25. Eugster, Nicolas & Kowalewski, Oskar & Śpiewanowski, Piotr, 2024. "Internal governance mechanisms and corporate misconduct," International Review of Financial Analysis, Elsevier, vol. 92(C).
    26. Lee, Chien-Chiang & Wang, Chih-Wei & Huang, Chun-Wei & Sharma, Susan Sunila, 2025. "Corporate dividend behavior under uncertainty: A study of Chinese firms," Pacific-Basin Finance Journal, Elsevier, vol. 91(C).
    27. Smimou, K. & Abrokwah, M. & Drougas, A., 2025. "Corporate investment decisions and related commodities: International evidence from energy and mining industries," Energy Economics, Elsevier, vol. 149(C).
    28. Zhe An & Wenlian Gao & Donghui Li & Dezhu Ye, 2022. "Dividend payouts, cash‐flow uncertainty and the role of institutions," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(7-8), pages 1356-1390, July.
    29. Hossain, Ashrafee & Benkraiem, Ramzi & Krishnamurti, Chandrasekhar, 2025. "Political sentiment and corporate payouts," International Review of Financial Analysis, Elsevier, vol. 102(C).
    30. Daniel Ferreira Caixe & Pedro Cesar Pestana Pavan & Natália Diniz Maganini & Hsia Hua Sheng, 2024. "Foreign Institutional Ownership and Firm Value: Evidence of “Locust Foreign Capital” in Brazil," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 60(2), pages 310-327, January.
    31. Bui, Loc T., 2025. "Democracy, dividends, and corporate valuation," Journal of Corporate Finance, Elsevier, vol. 95(C).
    32. Lili Yang & Tien-Ming Yip, 2026. "Corporate investment inefficiency and economic uncertainty: evidence from Chinese listed companies," Economic Change and Restructuring, Springer, vol. 59(1), pages 1-32, February.
    33. Chalevas, Constantinos G. & Doukakis, Leonidas C. & Karampinis, Nikolaos I. & Pavlopoulou, Olga-Chara, 2024. "The impact of family ownership on tax avoidance: International evidence," International Review of Financial Analysis, Elsevier, vol. 94(C).
    34. Zhao, Tianjiao & Chan, Kam C., 2023. "Corporate social network and corporate social responsibility: A perspective of interlocking directorates," International Review of Financial Analysis, Elsevier, vol. 88(C).
    35. Nguyen, Thanh Cong & Nguyen, Thai Vu Hong & Schinckus, Christophe & Chu, Thanh Tuan, 2025. "Excess liquidity and risk: How economic policy uncertainty shapes corporate decisions post-crisis?," Finance Research Letters, Elsevier, vol. 83(C).
    36. Ma, Pengfei & Dong, Siying, 2025. "How do online media affect cash dividends? Evidence from China∗," International Review of Economics & Finance, Elsevier, vol. 98(C).
    37. Gamze Ozturk Danisman & Amine Tarazi, 2021. "Economic policy uncertainty and bank stability," Working Papers hal-03259298, HAL.
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    81. Usman, Muhammad & Umar, Zaghum & Choi, Sun-Yong & Teplova, Tamara, 2024. "Quantifying endogenous and exogenous shocks to financial sector systemic risk: A comparison of GFC and COVID-19," The Quarterly Review of Economics and Finance, Elsevier, vol. 94(C), pages 281-293.
    82. Wu, Xin & Bai, Xiao & Qi, Hanying & Lu, Lanxin & Yang, Mingyuan & Taghizadeh-Hesary, Farhad, 2023. "The impact of climate change on banking systemic risk," Economic Analysis and Policy, Elsevier, vol. 78(C), pages 419-437.
    83. Dong, Xiao & Yu, Mingzhe, 2024. "Green bond issuance and green innovation: Evidence from China's energy industry," International Review of Financial Analysis, Elsevier, vol. 94(C).
    84. Yuan, Ying & Wang, Haiying & Jin, Xiu, 2022. "Pandemic-driven financial contagion and investor behavior: Evidence from the COVID-19," International Review of Financial Analysis, Elsevier, vol. 83(C).
    85. Trabelsi, Mohamed Ali, 2024. "The socio and economic consequences of COVID-19 pandemic in Tunisia : Empirical study on the banking sector," MPRA Paper 125760, University Library of Munich, Germany.
    86. Hu, Jikong & Liu, Haiming & Chiang, Yao-Min, 2026. "Common ownership between banks and firms and corporate leverage adjustment speed: Evidence from China," Research in International Business and Finance, Elsevier, vol. 81(C).
    87. Bevilacqua, Mattia & Duygun, Meryem & Vioto, Davide, 2023. "The impact of COVID-19 related policy interventions on international systemic risk," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 89(C).
    88. Vodová,Pavla Klepková & PaleÄ ková,Iveta & Stavárek,Daniel, 2023. "Banking Stability and Financial Conglomerates in European Emerging Countries," Cambridge Books, Cambridge University Press, number 9781009095112, Enero-Abr.
    89. Duan, Yuejiao & Fan, Xiaoyun & Wang, Zijun, 2025. "Text readability of regulatory policies and bank profit efficiency," Research in International Business and Finance, Elsevier, vol. 80(C).
    90. Thiago Christiano Silva & Sergio Rubens Stancato de Souza & Solange Maria Guerra, 2022. "Covid-19 and market power in local credit markets: the role of digitalization," BIS Working Papers 1017, Bank for International Settlements.
    91. Kang, Jingjing & Yang, Hao, 2025. "Regional economic policy uncertainty, implicit government guarantees and bank's risk-taking," International Review of Economics & Finance, Elsevier, vol. 102(C).
    92. Dong, Xiao & Yu, Mingzhe, 2023. "Does FinTech development facilitate firms' innovation? Evidence from China," International Review of Financial Analysis, Elsevier, vol. 89(C).
    93. Garcia-Jorcano, Laura & Sanchis-Marco, Lidia, 2025. "Measuring the impact of climate transition risk on the systemic risk: A multivariate quantile-located ES approach," Research in International Business and Finance, Elsevier, vol. 80(C).
    94. Atasoy, Burak Sencer & Özkan, İbrahim & Erden, Lütfi, 2024. "The determinants of systemic risk contagion," Economic Modelling, Elsevier, vol. 130(C).
    95. Gaganis, Chrysovalantis & Leledakis, George N. & Pasiouras, Fotios & Pyrgiotakis, Emmanouil G., 2025. "National culture of secrecy and stock price synchronicity: Cross-country evidence," Journal of Banking & Finance, Elsevier, vol. 170(C).
    96. Murè, Pina & Paccione, Cosimo & Marzioni, Stefano & Giorgio, Saverio, 2024. "How electricity and natural gas prices affect banking systemic risk," Research in International Business and Finance, Elsevier, vol. 72(PA).
    97. Bai, Chenjiang & Duan, Yuejiao & Goodell, John W., 2025. "Multi-media sentiment to systemic risk: Evidence from COVID-19," International Review of Economics & Finance, Elsevier, vol. 97(C).
    98. Dursun-de Neef, H. Özlem & Schandlbauer, Alexander, 2022. "COVID-19, bank deposits, and lending," Journal of Empirical Finance, Elsevier, vol. 68(C), pages 20-33.
    99. Apanisile Temitope Samuel, 2024. "The Effect of Quantitative Complexity Analysis on the Resilience of Nigerian Banks. Case Study: The Four Listed Nigerian Banks on the Premium Board of the Nigerian Exchange Group (NGX) for the Year 2019 -2022," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 11(7), pages 17-71, July.
    100. Daniel Ventosa-Santaulària & Arnoldo Marmolejo & Luis Alvarado, 2023. "The Effect of Financial Policies Implemented during COVID-19 on Bank Credit in the Central American Region," IJFS, MDPI, vol. 11(2), pages 1-19, May.
    101. Gao, Haoyu & Li, Jinxuan & Wen, Huiyu, 2023. "Bank funding costs during the COVID-19 pandemic: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    102. Anani, Makafui & Elwasify, Eman Ibrahem, 2023. "Regulatory capital management and available-for-sale securities: Evidence from the Covid-19 pandemic," Finance Research Letters, Elsevier, vol. 58(PA).
    103. Addi, Abdelhamid & Foglia, Matteo & Wang, Gang-Jin & Miglietta, Federica, 2025. "Crossroads of volatility spillover: Interactions between Islamic and conventional financial systems," Research in International Business and Finance, Elsevier, vol. 74(C).
    104. Makrychoriti, Panagiota & Pyrgiotakis, Emmanouil G., 2024. "Firm-level political risk and stock price crashes," Journal of Financial Stability, Elsevier, vol. 74(C).
    105. Bo Yu & Zhijia Chang, 2024. "Connectedness of Carbon Price and Energy Price under Shocks: A Study Based on Positive and Negative Price Volatility," Sustainability, MDPI, vol. 16(12), pages 1-26, June.
    106. Bai, Chenjiang & Duan, Yuejiao & Fan, Xiaoyun & Tang, Shuai, 2023. "Financial market sentiment and stock return during the COVID-19 pandemic," Finance Research Letters, Elsevier, vol. 54(C).
    107. Omrane Guedhami & April Knill & William Megginson & Lemma W. Senbet, 2023. "Economic impact of COVID-19 across national boundaries: The role of government responses," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(7), pages 1278-1297, September.
    108. Zhao, Yikai & Dai, Runyu & Nagayasu, Jun, 2025. "Generative AI: The transformative impact of ChatGPT on systemic financial risk in Chinese banks," Pacific-Basin Finance Journal, Elsevier, vol. 93(C).
    109. Joan Sebastián Rojas Rincón & Andrés Mauricio Mejía Martínez & Andrés Ricardo Riveros Tarazona & Julio César Acosta-Prado, 2024. "Analysis of Systemic Risk on the Financial Performance during the COVID-19 Pandemic: The Case of the Colombian Banking Industry," Sustainability, MDPI, vol. 16(5), pages 1-23, February.
    110. Huang, Sainan & Hueng, C. James & Zeng, Songlin, 2024. "Puzzling retrenchment of banking outflows: The role of information asymmetry," Research in International Business and Finance, Elsevier, vol. 68(C).
    111. Ameni Ghenimi & Hasna Chaibi & Mohamed Ali Omri, 2024. "Risk and performance of Islamic and conventional banks under COVID-19 pandemic: Evidence from MENA region," Arab Gulf Journal of Scientific Research, Emerald Group Publishing Limited, vol. 42(4), pages 1788-1804, January.

  24. Berger, Allen N. & El Ghoul, Sadok & Guedhami, Omrane & Guo, Jiarui, 2021. "Corporate Capital Structure and Firm Value: International Evidence on the Special Roles of Bank Debt," Review of Corporate Finance, now publishers, vol. 1(1-2), pages 1-41, April.

    Cited by:

    1. Karel Hrazdil & Deniz Anginer & Jiyuan Li & Ray Zhang, 2024. "Climate Reputation and Bank Loan Contracting," Journal of Business Ethics, Springer, vol. 192(4), pages 875-896, July.
    2. Baker, H. Kent & Rjiba, Hatem & Saadi, Samir & Sassi, Syrine, 2024. "Does litigation risk matter for the choice between bank debt and public debt?," Journal of Corporate Finance, Elsevier, vol. 89(C).
    3. Douglas J. Cumming & Andrea Martinez-Salgueiro & Robert S. Reardon & Ahmed Sewaid, 2022. "COVID-19 bust, policy response, and rebound: equity crowdfunding and P2P versus banks," The Journal of Technology Transfer, Springer, vol. 47(6), pages 1825-1846, December.
    4. Ben-Nasr, Hamdi & Basha, Shabeen Afsar & Shams, Syed, 2025. "The influence of carbon risk on debt structure," International Review of Financial Analysis, Elsevier, vol. 107(C).
    5. Corbet, Shaen & Cumming, Douglas J. & Hou, Yang (Greg) & Hu, Yang & Oxley, Les, 2022. "Have crisis-induced banking supports influenced European bank performance, resilience and price discovery?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 78(C).
    6. Usman, Muhammad & Umar, Zaghum & Choi, Sun-Yong & Teplova, Tamara, 2024. "Quantifying endogenous and exogenous shocks to financial sector systemic risk: A comparison of GFC and COVID-19," The Quarterly Review of Economics and Finance, Elsevier, vol. 94(C), pages 281-293.
    7. Xiaohui Chen & Yiqing He, 2022. "The Impact of Financial Resilience and Steady Growth on High-Quality Economic Development—Based on a Heterogeneous Intermediary Effect Analysis," Sustainability, MDPI, vol. 14(22), pages 1-19, November.
    8. Jorge Fernández B. & Francisco Vásquez L., 2024. "Financiamiento de corto plazo de las empresas chilenas," Working Papers Central Bank of Chile 1032, Central Bank of Chile.
    9. Xiaoyi Lyu & Chenyu Shan & Dragon Yongjun Tang, 2025. "Does Traditional Debt Financing Hurt the Environment? Evidence from Toxic Releases," Journal of Business Ethics, Springer, vol. 200(4), pages 957-985, September.

  25. Attig, Najah & El Ghoul, Sadok, 2021. "Flying under the radar: The real effects of anonymous trading," Journal of Corporate Finance, Elsevier, vol. 71(C).

    Cited by:

    1. Liu, Yulin & Wang, Junbo & Wen, Fenghua & Wu, Chunchi, 2024. "Corporate responses to systemic risk: Talk and action," Pacific-Basin Finance Journal, Elsevier, vol. 87(C).

  26. Arouri, Mohamed & El Ghoul, Sadok & Gomes, Mathieu, 2021. "Greenwashing and product market competition," Finance Research Letters, Elsevier, vol. 42(C).
    See citations under working paper version above.
  27. Bae, Kee-Hong & El Ghoul, Sadok & Gong, Zhaoran (Jason) & Guedhami, Omrane, 2021. "Does CSR matter in times of crisis? Evidence from the COVID-19 pandemic," Journal of Corporate Finance, Elsevier, vol. 67(C).

    Cited by:

    1. Jagriti Srivastava & Aravind Sampath & Balagopal Gopalakrishnan, 2021. "Is CSR the key to unlocking debt financing during COVID-19? A multicountry perspective," Working papers 481, Indian Institute of Management Kozhikode.
    2. D’Ercole, Francesco & Wagner, Alexander F., 2023. "The green energy transition and the 2023 Banking Crisis," Finance Research Letters, Elsevier, vol. 58(PC).
    3. Bruna, Maria Giuseppina & Đặng, Rey & Houanti, L'hocine & Sahut, Jean-Michel & Simioni, Michel, 2022. "By what way women on corporate boards influence corporate social performance? Evidence from a semiparametric panel model," Finance Research Letters, Elsevier, vol. 49(C).
    4. Liu, Lian & Nemoto, Naoko & Lu, Changrong, 2023. "The Effect of ESG performance on the stock market during the COVID-19 Pandemic — Evidence from Japan," Economic Analysis and Policy, Elsevier, vol. 79(C), pages 702-712.
    5. Zhang, Cheng & Ho, Kung-Cheng & Yan, Cheng & Gong, Yujing, 2023. "Societal trust and firm-level trust: Substitute or complement? An international evidence," International Review of Financial Analysis, Elsevier, vol. 86(C).
    6. Wang, Yujie & Tsang, Albert & Xiang, Yi & Yan, Shuo, 2024. "How can regulators affect corporate social responsibility? Evidence from regulatory disclosures of consumer complaints in the U.S," The British Accounting Review, Elsevier, vol. 56(1).
    7. Battisti, Enrico & Nirino, Niccolò & Leonidou, Erasmia & Salvi, Antonio, 2023. "Corporate social responsibility in family firms: Can corporate communication affect CSR performance?," Journal of Business Research, Elsevier, vol. 162(C).
    8. Jing Wu & Chee Yoong Liew, 2024. "Revisiting the nexus between corporate social responsibility and corporate value: Evidence from China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(3), pages 2066-2085, May.
    9. Vishnu K. Ramesh & A. Athira, 2023. "Real effects of social trust on firm performance during COVID‐19," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(1), pages 671-693, January.
    10. Kuai, Yicheng & Wang, Peiwen & Huang, Guanglin, 2025. "Corporate ESG performance and credit misallocation: Evidence from China," Research in International Business and Finance, Elsevier, vol. 73(PA).
    11. Baatwah, Saeed Rabea & Al-Qadasi, Adel Ali & Al-Shehri, Amer Mohammed & Derouiche, Imen, 2022. "Corporate social responsibility budgeting and spending during COVID–19 in Oman: A humanitarian response to the pandemic," Finance Research Letters, Elsevier, vol. 47(PB).
    12. Ọláyẹmí M. Ọlábìyí & Jasmine Alam, 2025. "Making money move: an analysis of corporate social responsibility activities in money transfer firms," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 11(1), pages 1-18, December.
    13. Li, Lifang & Qiu, Lexin & Xu, Fangming & Zheng, Xinwei, 2023. "The impact of green credit on firms' green investment efficiency: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    14. Laila Maswadi & Azlan Amran, 2023. "Does board capital enhance corporate social responsibility disclosure quality? The role of CEO power," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(1), pages 209-225, January.
    15. de la Fuente, Gabriel & Velasco, Pilar, 2024. "Pretending to be sustainable: Is ESG disparity a symptom?," Journal of Contemporary Accounting and Economics, Elsevier, vol. 20(2).
    16. Yamina Chouaibi & Matteo Rossi & Ghazi Zouari, 2021. "The Effect of Corporate Social Responsibility and the Executive Compensation on Implicit Cost of Equity: Evidence from French ESG Data," Sustainability, MDPI, vol. 13(20), pages 1-17, October.
    17. Liu,Yu & Peng,Mike W. & Wei,Zuobao & Xu,Jian & Xu,L. Colin, 2021. "Organizational Resources, Country Institutions, and National Culture behind Firm Survival and Growth during COVID-19," Policy Research Working Paper Series 9633, The World Bank.
    18. Kazemi, Maha Zadeh & Elamer, Ahmed A. & Theodosopoulos, Grigorios & Khatib, Saleh F.A., 2023. "Reinvigorating research on sustainability reporting in the construction industry: A systematic review and future research agenda," Journal of Business Research, Elsevier, vol. 167(C).
    19. Eleonora Salzmann, 2025. "Disaggregated ESG Risk in European Asset Pricing Based on ESG Leaders Data," ACTA VSFS, University of Finance and Administration, vol. 19(2), pages 204-233.
    20. Fang,Sheng & Goh,Chorching & Li,Shaomin & Xu,L. Colin, 2022. "Firm Resources, Strategies, and Survival and Growth during COVID-19: Evidence from Two-WaveGlobal Surveys," Policy Research Working Paper Series 9997, The World Bank.
    21. Sawssen Khlifi & Ghazi Zouari, 2022. "The Moderating Role of Good Corporate Governance on The Relationship Between Corporate Social Responsibility and Real Earnings Management," Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 21(4), pages 524-545, December.
    22. David Benjamin Billedeau & Jeffrey Wilson & Naima Samuel, 2022. "From Responsibility to Requirement: COVID, Cars, and the Future of Corporate Social Responsibility in Canada," Sustainability, MDPI, vol. 14(11), pages 1-16, May.
    23. Jagannathan, Murali & Myers, Brett W. & Niu, Xu, 2025. "Trust in Founders," Journal of Banking & Finance, Elsevier, vol. 178(C).
    24. Kara, Alper & Ongena, Steven & Yildiz, Yilmaz, 2024. "Does being a responsible bank pay off? Evidence from the COVID-19 pandemic," Journal of Financial Stability, Elsevier, vol. 74(C).
    25. Xin, Zhuoyao & Zhang, Zongyi & Xiang, Cheng, 2024. "Do suppliers value clients’ ESG profiles? Evidence from Chinese firms," International Review of Economics & Finance, Elsevier, vol. 91(C), pages 241-258.
    26. Amanjot Singh, 2022. "COVID‐19 and ESG preferences: Corporate bonds versus equities," International Review of Finance, International Review of Finance Ltd., vol. 22(2), pages 298-307, June.
    27. Brzeszczyński, Janusz & Gajdka, Jerzy & Pietraszewski, Piotr & Schabek, Tomasz, 2022. "Has the risk of socially responsible investments (SRI) companies stocks changed in the COVID-19 period? International evidence," Finance Research Letters, Elsevier, vol. 49(C).
    28. Jose Ribamar Siqueira Junior & Enrique Horst & German Molina & Laura H. Gunn & Felipe Reinoso-Carvalho & Burcu Sezen & Nathalie Peña-García, 2023. "Branding in the eye of the storm: the impact of brand ethical behavior on brand commitment during the COVID-19 crisis in a South American country," Journal of Marketing Analytics, Palgrave Macmillan, vol. 11(1), pages 95-115, March.
    29. Jingchen Zhao, 2021. "Reimagining Corporate Social Responsibility in the Era of COVID-19: Embedding Resilience and Promoting Corporate Social Competence," Sustainability, MDPI, vol. 13(12), pages 1-28, June.
    30. Wang, Shaolin & Cheng, Ho Cheung & Wang, Jianli & Yick, Ho Yin, 2025. "The performance of ESG portfolios: Evidence from the Chinese market under COVID-19," Economic Modelling, Elsevier, vol. 143(C).
    31. Yin, Zihan & Yan, Chao & Li, Zai, 2024. "Can CSR mitigate negative regional public sentiment? Evidence from major violent crimes in China," International Review of Economics & Finance, Elsevier, vol. 91(C), pages 332-347.
    32. Wang, Kewen & Li, Jingqiang & Qiao, Yuanbo & Chang, Shilong, 2024. "Corporate social responsibility Feng Shui and firm value," Annals of Tourism Research, Elsevier, vol. 105(C).
    33. Birindelli, Giuliana & Quas, Anita & Rancan, Michela & Vandone, Daniela, 2025. "How important are ESG ratings for financial institutions? Evidence from corporate leverage ratios across Europe," International Review of Economics & Finance, Elsevier, vol. 102(C).
    34. Hooi Hooi Lean & Fabio Pizzutilo & Kimberly Gleason, 2023. "Portfolio performance implications of investment in renewable energy equities: Green versus gray," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(6), pages 2990-3005, November.
    35. Komath, Muhammed Aslam Chelery & Doğan, Murat & Sayılır, Özlem, 2023. "Impact of corporate governance and related controversies on the market value of banks," Research in International Business and Finance, Elsevier, vol. 65(C).
    36. Zhu, Danyu & Luo, Zijun & Qin, Han, 2025. "Does reduced tax avoidance affect CSR? Evidence from a Quasi-natural experiment in China," Economic Analysis and Policy, Elsevier, vol. 85(C), pages 479-493.
    37. Hu, Yi & Yin, Chao, 2025. "Reprint of: Political uncertainty, corporate social responsibility, and firm performance," The British Accounting Review, Elsevier, vol. 57(1).
    38. J.A. Batten & Sabri Boubaker & H. Kinateder & T. Choudhury & N.F. Wagner, 2023. "Volatility Impacts on Global Banks: Insights from the GFC, COVID-19, and the Russia-Ukraine War," Post-Print hal-04435440, HAL.
    39. Kong, Xiaoran & Zhang, Xueying & Yan, Cheng & Ho, Kung-Cheng, 2022. "China's historical imperial examination system and corporate social responsibility," Pacific-Basin Finance Journal, Elsevier, vol. 72(C).
    40. Duan, Yuejiao & El Ghoul, Sadok & Guedhami, Omrane & Li, Haoran & Li, Xinming, 2021. "Bank systemic risk around COVID-19: A cross-country analysis," Journal of Banking & Finance, Elsevier, vol. 133(C).
    41. Pan, Junyu & Du, Lizhao & Wu, Haitao & Liu, Xiaoqian, 2024. "Does environmental law enforcement supervision improve corporate carbon reduction performance? Evidence from environmental protection interview," Energy Economics, Elsevier, vol. 132(C).
    42. Andreou, Panayiotis C. & Lambertides, Neophytos & Trigeorgis, Lenos & Tuneshev, Ruslan, 2025. "Customer orientation and stock resilience during adversity periods," Journal of Corporate Finance, Elsevier, vol. 93(C).
    43. Mircea Epure & Serhat Hasancebi, 2025. "The Opaque Scorecard: Environmental, Social and Financial Information During a Crisis," Working Papers 1543, Barcelona School of Economics.
    44. Pham, Son Duy & Nguyen, Thao Thac Thanh & Li, Xiao-Ming, 2024. "Stabilizing global foreign exchange markets in the time of COVID-19: The role of vaccinations," Global Finance Journal, Elsevier, vol. 59(C).
    45. Postiglione, Massimo & Carini, Cristian & Falini, Alberto, 2025. "Assessing Firm ESG Performance Through Corporate Survival: The Moderating Role of Firm Size," International Review of Financial Analysis, Elsevier, vol. 100(C).
    46. Xu, Danyang & Hu, Yang & Oxley, Les & Lin, Boqiang & He, Yongda, 2025. "Exploring the connectedness between major volatility indexes and worldwide sustainable investments," International Review of Financial Analysis, Elsevier, vol. 97(C).
    47. Kumar, Sonal & Zbib, Leila, 2022. "Firm performance during the Covid-19 crisis: Does managerial ability matter?," Finance Research Letters, Elsevier, vol. 47(PB).
    48. Qiuyun Wang & Lu Liu, 2022. "Pandemic or panic? A firm-level study on the psychological and industrial impacts of COVID-19 on the Chinese stock market," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-38, December.
    49. Wali Ullah, G M & Luo, Juan & Yawson, Alfred, 2024. "Managerial ability and supply chain power," Journal of Contemporary Accounting and Economics, Elsevier, vol. 20(2).
    50. Liu, Haiyue & Jiang, Jie & Xue, Rui & Meng, Xiaofan & Hu, Shiyang, 2022. "Corporate environmental governance scheme and investment efficiency over the course of COVID-19," Finance Research Letters, Elsevier, vol. 47(PB).
    51. Zhu, Minghao & Yeung, Andy C.L. & Zhou, Honggeng, 2021. "Diversify or concentrate: The impact of customer concentration on corporate social responsibility," International Journal of Production Economics, Elsevier, vol. 240(C).
    52. Ziliang Yu & Jian Yang & Robert I. Webb, 2023. "Price discovery in China's crude oil futures markets: An emerging Asian benchmark?," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 43(3), pages 297-324, March.
    53. Ben Ameur, Hachmi & Ftiti, Zied & Louhichi, Wael, 2025. "Do ESG investments improve portfolio diversification and risk management during times of uncertainty," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 103(C).
    54. Mohd Anas & Ishfaq Gulzar & Mosab I. Tabash & Gayas Ahmad & Wasi Yazdani & Md. Firoz Alam, 2023. "Investigating the Nexus between Corporate Governance and Firm Performance in India: Evidence from COVID-19," JRFM, MDPI, vol. 16(7), pages 1-18, June.
    55. Gregory, Richard Paul, 2022. "ESG scores and the response of the S&P 1500 to monetary and fiscal policy during the Covid-19 pandemic," International Review of Economics & Finance, Elsevier, vol. 78(C), pages 446-456.
    56. Ouyang, Xiaoling & Yang, Yuchuan & Du, Kerui, 2024. "Impact of CSR on stock return resilience during the 2020 public health emergency: Evidence from the Chinese financial market," International Review of Financial Analysis, Elsevier, vol. 96(PB).
    57. Rupp, Anin & Limpaphayom, Piman, 2024. "Benefits of corporate social responsibility during a pandemic: Evidence from stock price reaction to COVID-19 related news," Research in International Business and Finance, Elsevier, vol. 68(C).
    58. Yi, Yuyang & Zhang, Zongyi & Xiang, Cheng, 2022. "The value of CSR during the COVID-19 crisis: Evidence from Chinese firms," Pacific-Basin Finance Journal, Elsevier, vol. 74(C).
    59. Hamzeh Al Amosh & Saleh F. A. Khatib & Husam Ananzeh, 2024. "Terrorist attacks and environmental social and governance performance: Evidence from cross‐country panel data," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(1), pages 210-223, January.
    60. Kim, Kyunghyun & Seo, Seongmin, 2025. "The impact of the Serious Accidents Punishment Act on corporate ESG: Evidence from Korea," Journal of Asian Economics, Elsevier, vol. 99(C).
    61. Vu Quang Trinh & Aly Salama & Teng Li & Ou Lyu & Savvas Papagiannidis, 2023. "Former CEOs chairing the board: does it matter to corporate social and environmental investments?," Review of Quantitative Finance and Accounting, Springer, vol. 61(4), pages 1277-1313, November.
    62. Lu, Jun & Li, Wengui & Huang, Wei, 2024. "Corporate social responsibility and stock resilience to COVID-19: A contract theory perspective," International Review of Economics & Finance, Elsevier, vol. 89(PB), pages 12-29.
    63. Nour Lakiss, 2021. "The impact of social responsibility on financial performance: evidence from Romanian companies," Journal of Financial Studies, Institute of Financial Studies, vol. 10(6), pages 58-76, May.
    64. Qian, Kun & Shi, Bingjie & Song, Yunling & Wu, Hao, 2023. "ESG performance and loan contracting in an emerging market," Pacific-Basin Finance Journal, Elsevier, vol. 78(C).
    65. Li, Xiaodan & Pan, Zikui & Ho, Kung-Cheng & Bo, Yu, 2024. "Epidemics, local institutional quality, and corporate cash holdings," International Review of Economics & Finance, Elsevier, vol. 92(C), pages 193-210.
    66. Hasan, Mostafa Monzur & Wong, Jin Boon & Al Mamun, Mohammed Abdullah, 2022. "Oil shocks and corporate social responsibility," Energy Economics, Elsevier, vol. 107(C).
    67. Jing Tao & Peipei Shan & Jingbo Liang & Long Zhang, 2024. "Influence Mechanism between Corporate Social Responsibility and Financial Sustainability: Empirical Evidence from China," Sustainability, MDPI, vol. 16(6), pages 1-23, March.
    68. Amanjot Singh & Harminder Singh, 2022. "Shareholder response to pension deficit: evidence from the COVID-19 pandemic," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 46(3), pages 566-574, July.
    69. Pham, Son Duy & Nguyen, Thao Thac Thanh & Do, Hung Xuan & Vo, Xuan Vinh, 2023. "Portfolio diversification during the COVID-19 pandemic: Do vaccinations matter?," Journal of Financial Stability, Elsevier, vol. 65(C).
    70. Mai T. Said & Mona A. ElBannan, 2025. "Stock market reaction to COVID-19 outbreak: evidence from ESG firms in emerging economies," Journal of Asset Management, Palgrave Macmillan, vol. 26(2), pages 136-158, March.
    71. Philippas, Dionisis & Tziogkidis, Panagiotis & Sfakianakis, Manos, 2025. "The fine line between ESG commitment and bank performance," Energy Economics, Elsevier, vol. 151(C).
    72. Chaudhry, Neeru & Dhawan, Priya, 2025. "CSR and exposure to systemic risk: Building resilience in non-financial firms," Pacific-Basin Finance Journal, Elsevier, vol. 93(C).
    73. Ashraf, Badar Nadeem & Tabash, Mosab I. & Hassan, M. Kabir, 2022. "Are Islamic banks more resilient to the crises vis-à-vis conventional banks? Evidence from the COVID-19 shock using stock market data," Pacific-Basin Finance Journal, Elsevier, vol. 73(C).
    74. Jing Lu & Kathleen Rodenburg & Lianne Foti & Ann Pegoraro, 2022. "Are firms with better sustainability performance more resilient during crises?," Business Strategy and the Environment, Wiley Blackwell, vol. 31(7), pages 3354-3370, November.
    75. Alves, Carlos Francisco & Meneses, Lilian Lima, 2024. "ESG scores and debt costs: Exploring indebtedness, agency costs, and financial system impact," International Review of Financial Analysis, Elsevier, vol. 94(C).
    76. Konstantinos Petridis & Nikolaos Kiosses & Ioannis Tampakoudis & Fouad Ben Abdelaziz, 2023. "Measuring the efficiency of mutual funds: Does ESG controversies score affect the mutual fund performance during the COVID-19 pandemic?," Operational Research, Springer, vol. 23(3), pages 1-29, September.
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    78. Lucelma Maria dos Santos Cunha & Yuri Gomes Paiva Azevedo & Laís Manfiolli Figueira & Maisa de Souza Ribeiro, 2024. "Effect of the Brazilian corporate sustainability index on cash holdings and the moderating role of Covid‐19," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(5), pages 4555-4568, September.
    79. Srivastava, Jagriti & Sampath, Aravind & Gopalakrishnan, Balagopal, 2022. "Is ESG the key to unlock debt financing during the COVID-19 pandemic? International evidence," Finance Research Letters, Elsevier, vol. 49(C).
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    101. Maria Victoria Uribe Bohorquez & Isabel María García Sánchez, 2023. "Sustainability in times of crisis: Female employment during COVID‐19," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(6), pages 3124-3139, November.
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    115. Marco Pagano & Josef Zechner, 2022. "COVID-19 and Corporate Finance [The risk of being a fallen angel and the corporate dash for cash in the midst of COVID]," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 11(4), pages 849-879.
    116. Goodell, John W. & Corbet, Shaen & Hou, Yang (Greg) & Hu, Yang & Oxley, Les, 2024. "Isolating defensive corporate ESG effects: Evidence from purely domestic anti-COVID-19 measures," Journal of Financial Stability, Elsevier, vol. 71(C).
    117. Abdelmoety, Ziad Hassan & Aboul-Dahab, Sameh & Agag, Gomaa, 2022. "A cross cultural investigation of retailers commitment to CSR and customer citizenship behaviour: The role of ethical standard and value relevance," Journal of Retailing and Consumer Services, Elsevier, vol. 64(C).
    118. Alhajjeah, Diana & Besim, Mustafa & Al-Hajieh, Heitham, 2025. "Mitigating crisis impact: The influence of corporate social responsibility on non-financial firms’ financial performance," International Review of Economics & Finance, Elsevier, vol. 101(C).
    119. Walker, Thomas & Fernandes, Alisha & Karami, Moein, 2024. "Corporate resilience during crises and the role of ESG factors: Evidence from the COVID-19 pandemic," Finance Research Letters, Elsevier, vol. 69(PB).
    120. Huang, Yujun, 2024. "Do ESG ETFs provide downside risk protection during Covid-19? Evidence from forecast combination models," International Review of Financial Analysis, Elsevier, vol. 94(C).
    121. Shi, Luqing & Yin, Zhujia & Zhang, Yun & Song, Linjia & Yang, Xin, 2025. "Regional financial risk and firms' access to trade credit: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 90(C).
    122. N. Zhang, 2022. "How does CSR of food company affect customer loyalty in the context of COVID-19: a moderated mediation model," International Journal of Corporate Social Responsibility, Springer, vol. 7(1), pages 1-10, December.
    123. Nils Engelhardt & Jens Ekkenga & Peter Posch, 2021. "ESG Ratings and Stock Performance during the COVID-19 Crisis," Sustainability, MDPI, vol. 13(13), pages 1-15, June.
    124. Walid Ben‐Amar & Breeda Comyns & Isabelle Martinez, 2024. "Firm commitments on climate change: Effects of science‐based targets on financial outcomes during the COVID‐19 crisis," Business Strategy and the Environment, Wiley Blackwell, vol. 33(8), pages 7768-7787, December.
    125. Yu-Lin Hsu & Ya-Ching Chu, 2023. "CSR committee and firm value during the COVID-19 pandemic," Economics and Business Letters, Oviedo University Press, vol. 12(2), pages 137-146.
    126. Rim El Khoury & Nohade Nasrallah & Khaled Hussainey, 2022. "Exploring the performance of responsible companies in G20 during the COVID-19 outbreak," Post-Print hal-03761427, HAL.
    127. Shih-Chia Chang & Ming-Tsang Lu & Mei-Jen Chen & Li-Hua Huang, 2021. "Evaluating the Application of CSR in the High-Tech Industry during the COVID-19 Pandemic," Mathematics, MDPI, vol. 9(15), pages 1-16, July.
    128. Fang, Fei & Parida, Sitikantha, 2022. "Sustainable mutual fund performance and flow in the recent years through the COVID-19 pandemic," International Review of Financial Analysis, Elsevier, vol. 84(C).
    129. Yongdong Wang & Ahmed Elnahas, 2026. "House divided: executive political heterogeneity and corporate social responsibility," Review of Quantitative Finance and Accounting, Springer, vol. 66(2), pages 559-592, February.
    130. Gen‐Fu Feng & Han Long & Hai‐Jie Wang & Chun‐Ping Chang, 2022. "Environmental, social and governance, corporate social responsibility, and stock returns: What are the short‐ and long‐Run relationships?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(5), pages 1884-1895, September.
    131. Agliardi, Elettra & Alexopoulos, Thomas & Karvelas, Kleanthis, 2023. "The environmental pillar of ESG and financial performance: A portfolio analysis," Energy Economics, Elsevier, vol. 120(C).
    132. Maria Giuseppina Bruna & Rey Dang & L'Hocine Houanti & Jean-Michel Sahut & Michel Simioni, 2022. "By what way women on corporate boards influence corporate social performance? Evidence from a semiparametric panel model," Post-Print hal-03693781, HAL.
    133. Hyeong Joon Kim & Seongjae Mun & Seung Hun Han, 2023. "Corporate social responsibility and the alignment of CEO and shareholders wealth: Does a strong alignment induce or restrain CSR?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(2), pages 720-741, March.
    134. Samuel Buertey & Richard Ramsawak & Raymond K. Dziwornu & Yong‐Seok Lee, 2024. "Corporate social responsibility and dividend payout policy in extraordinary time: Empirical study of South Africa," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(1), pages 514-527, January.
    135. Lööf, Hans & Sahamkhadam, Maziar & Stephan, Andreas, 2022. "Is Corporate Social Responsibility investing a free lunch? The relationship between ESG, tail risk, and upside potential of stocks before and during the COVID-19 crisis," Finance Research Letters, Elsevier, vol. 46(PB).
    136. Ho, Kung-Cheng & Yao, Chia-ling & Zhao, Chenfang & Pan, Zikui, 2022. "Modern health pandemic crises and stock price crash risk," Economic Analysis and Policy, Elsevier, vol. 74(C), pages 448-463.
    137. Metsiou Anastasia & Broni Georgia & Papachristou Eleni & Kiki Magdalini, 2023. "Business Ethics Covid and War in the Center of Lignite Production," Journal of Finance and Investment Analysis, SCIENPRESS Ltd, vol. 12(1), pages 1-2.
    138. Sakkakom Maneenop & Chaiyuth Padungsaksawasdi & Sirimon Treepongkaruna, 2024. "Co‐opted board, environment, social and governance," Business Strategy and the Environment, Wiley Blackwell, vol. 33(2), pages 1161-1172, February.
    139. Hossain, Ashrafee T. & Masum, Abdullah-Al & Xu, Jian, 2023. "COVID-19, a blessing in disguise for the Tech sector: Evidence from stock price crash risk," Research in International Business and Finance, Elsevier, vol. 65(C).
    140. Shanshan Wang & Shih‐Chih Chen & Mohd Helmi Ali & Ming‐Lang Tseng, 2024. "Nexus of environmental, social, and governance performance in China‐listed companies: Disclosure and green bond issuance," Business Strategy and the Environment, Wiley Blackwell, vol. 33(3), pages 1647-1660, March.
    141. Lestari, Jenjang Sri & Frömmel, Michael, 2024. "Socially responsible investments: doing good while doing well in developed versus emerging markets?," Research in International Business and Finance, Elsevier, vol. 69(C).
    142. Hossain, Ashrafee T. & Masum, Abdullah-Al, 2022. "Does corporate social responsibility help mitigate firm-level climate change risk?," Finance Research Letters, Elsevier, vol. 47(PB).
    143. Ahmed Taher & Amy Rizkalla, 2024. "How brand CSR responses to the pandemic impact brand value, growth, and rank," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-8, December.
    144. Irina N. Tkachenko, 2021. "Rethinking the stakeholder approach to corporate governance amid the coronavirus crisis: From commitment declaration to applied models," Upravlenets, Ural State University of Economics, vol. 12(2), pages 2-16, April.
    145. Johann Maria, 2023. "CSR strategy in the hospitality industry: from the COVID-19 pandemic crisis to recovery," International Journal of Contemporary Management, Sciendo, vol. 59(1), pages 1-11, March.
    146. Jiancheng Shen & Chen Chen & Zheng Liu, 2023. "Does environmental investment pay off?—portfolio analyses of the E in ESG during political conflicts and public health crises," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 46(S1), pages 107-131, December.
    147. Md. Rezaul Karim & Samia Afrin Shetu & Istiaque Ahmed, 2025. "Determinants of corporate social responsibility (CSR) activities during the COVID-19 period: evidence from an emerging economy," SN Business & Economics, Springer, vol. 5(1), pages 1-29, January.
    148. Qian Ding & Jianbai Huang & Jinyu Chen & Ding Wang, 2025. "ESG peer effects and corporate financial distress: An executive social network perspective," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 30(3), pages 2284-2310, July.
    149. Hossain, Ashrafee Tanvir & Kryzanowski, Lawrence, 2021. "Political corruption and Corporate Social Responsibility (CSR)," Journal of Behavioral and Experimental Finance, Elsevier, vol. 31(C).
    150. Song, Yunling & Wu, Hao & Ma, Yan, 2023. "Does ESG performance affect audit pricing? Evidence from China," International Review of Financial Analysis, Elsevier, vol. 90(C).
    151. Xu, Nana & Chen, Jiaqi & Zhou, Fangzhao & Dong, Qing & He, Zhifang, 2023. "Corporate ESG and resilience of stock prices in the context of the COVID-19 pandemic in China," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    152. Shakil, Mohammad Hassan, 2021. "Environmental, social and governance performance and financial risk: Moderating role of ESG controversies and board gender diversity," Resources Policy, Elsevier, vol. 72(C).
    153. Đặng, Rey & Karmani, Majdi & Houanti, L'Hocine & Simioni, Michel & Abid, Ilyes, 2023. "Board gender diversity and environmental performance: A semi-parametric panel data analysis," Finance Research Letters, Elsevier, vol. 58(PA).
    154. Zhou, Zixun & Zhou, Xinyu & Zhong, Hao & Zhang, Xuezhi, 2025. "Bridging social responsibility and grassroots finance: Evaluating the impact of firms’ targeted pairing assistance on county digital financial inclusion," Research in International Business and Finance, Elsevier, vol. 76(C).
    155. Quang Trinh, Vu & Duong Cao, Ngan & Li, Teng & Elnahass, Marwa, 2023. "Social capital, trust, and bank tail risk: The value of ESG rating and the effects of crisis shocks," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 83(C).
    156. Clancey-Shang, Danjue & Fu, Chengbo, 2024. "CSR disclosure, political risk and market quality: Evidence from the Russia-Ukraine conflict," Global Finance Journal, Elsevier, vol. 60(C).
    157. María‐Florencia Amorelli & Isabel‐María García‐Sánchez, 2023. "Leadership in heels: Women on boards and sustainability in times of COVID‐19," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(4), pages 1987-2010, July.

  28. Simon Döring & Wolfgang Drobetz & Sadok El Ghoul & Omrane Guedhami & Henning Schröder, 2021. "Institutional investment horizons and firm valuation around the world," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(2), pages 212-244, March.

    Cited by:

    1. Paul P. Momtaz, 2023. "The economics of PIPEs, revisited," Small Business Economics, Springer, vol. 60(1), pages 59-83, January.
    2. Jing Lu & Guohua Cao & Chuan Lin & Stavros Sindakis & Saloome Showkat, 2024. "RETRACTED ARTICLE: Examining the Governance Effect of Institutional Investors on Stock Price Crash Risk," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(2), pages 9053-9081, June.
    3. Yousef Hassan, 2025. "Board gender diversity and ownership structure: Are they substitutes or complementary? Evidence from Palestine," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 22(1), pages 109-124, March.
    4. Khoo, Joye & Cheung, Adrian (Wai Kong), 2024. "Subordinate executives’ horizon and cash holdings," International Review of Economics & Finance, Elsevier, vol. 96(PA).
    5. Mian, Rehman U. & Irfan, Saadia & Mian, Affan, 2023. "Foreign institutional investment horizon and earnings management: Evidence from around the world," International Review of Financial Analysis, Elsevier, vol. 86(C).
    6. Trinh, Quoc Dat & Haddad, Christian & Salameh, Elie, 2023. "Financial institutional blockholders and earnings quality: Do blockholders contestability and countries' institutions matter?," International Review of Financial Analysis, Elsevier, vol. 87(C).
    7. He, Wen & Mi, Lin, 2022. "Institutional investors’ horizon and equity-financed payouts," Journal of Banking & Finance, Elsevier, vol. 134(C).
    8. Stepanova, A. & Podukhovich, D., 2023. "CEO decision-making horizon and R&D investments. Evidence from Russia," Journal of the New Economic Association, New Economic Association, vol. 59(2), pages 85-118.
    9. Simon Döring & Wolfgang Drobetz & Sadok El Ghoul & Omrane Guedhami & Henning Schröder, 2023. "Foreign Institutional Investors, Legal Origin, and Corporate Greenhouse Gas Emissions Disclosure," Journal of Business Ethics, Springer, vol. 182(4), pages 903-932, February.
    10. Paul Brockman & Wolfgang Drobetz & Sadok El Ghoul & Omrane Guedhami & Ying Zheng, 2024. "Do foreign institutional shareholders affect international debt contracting? Evidence from Yankee bond covenants," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 55(5), pages 551-576, July.
    11. Miller, Steve & Qiu, Bin & Wang, Bin & Yang, Tina, 2022. "Monitoring institutional ownership and corporate innovation," Journal of Empirical Finance, Elsevier, vol. 69(C), pages 144-165.
    12. Barka, Zeineb & Benkraiem, Ramzi & Hamza, Taher & Lakhal, Faten & Vigne, Samuel, 2023. "Institutional investor horizon and stock price synchronicity: Do product market competition and analyst coverage matter?," International Review of Financial Analysis, Elsevier, vol. 89(C).
    13. Pinkus, David & Pozzoli, Dario & Schneider, Cédric, 2024. "Pension Fund Investment and Firm Innovation," Working Papers 1-2024, Copenhagen Business School, Department of Economics.
    14. Li, Jinxian & Gong, Yujing & Ho, Kung-Cheng & Zhang, Cheng, 2023. "Trust and price efficiency," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 89(C).
    15. Haddad, Christian & Verriest, Arnt, 2025. "How do country institutions affect foreign investment? Evidence from European multinational companies," International Business Review, Elsevier, vol. 34(1).
    16. Junjie Guang & Yang (Eric) Zhou & Lei Gong & Li Xia & Zhiying Liu, 2025. "Does family ownership reduce exploratory innovation in family firms? The moderating role of the generational stage," Asia Pacific Journal of Management, Springer, vol. 42(3), pages 1485-1515, September.
    17. Flladina Zilja & Gilbert Kofi Adarkwah & Christopher Albert Sabel, 2022. "Do Environmental Policies Affect MNEs’ Foreign Subsidiary Investments? An Empirical Investigation," Management International Review, Springer, vol. 62(1), pages 53-102, February.
    18. Douglas Cumming & Minjie Zhang, 2023. "Bankruptcy law and angel investors around the world," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(7), pages 1256-1277, September.
    19. Beetsma, Roel & Jensen, Svend E. Hougaard & Pinkus, David & Pozzoli, Dario, 2024. "Do Pension Fund Equity Investments Raise Firm Productivity? Evidence From Danish Data," Working Papers 2-2024, Copenhagen Business School, Department of Economics.
    20. Michał Kałdoński & Tomasz Jewartowski, 2024. "Governance through exit: Pension fund reform impact on real earnings management of portfolio companies," Review of Quantitative Finance and Accounting, Springer, vol. 63(4), pages 1349-1389, November.
    21. Yoko SHIRASU & Katsushi SUZUKI & Sadok EL GHOUL, 2024. "Release from Restricted Environmental and Social Investing: Evidence from agreements between asset owners and asset managers," Discussion papers 24016, Research Institute of Economy, Trade and Industry (RIETI).
    22. Zhihao Wang & Kezhi Liao & Sisi Wang, 2024. "Institutional investor horizons, ownership structure and investment efficiency in China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(1), pages 739-782, March.
    23. Cheng, Xin & (Helen) Wang, He & Wang, Xianjue, 2022. "Common institutional ownership and corporate social responsibility," Journal of Banking & Finance, Elsevier, vol. 136(C).
    24. Po Li & Tingting Que & Jing Xie & Yuxiang Zhong, 2025. "Convertible Bonds and Firm Value: Evidence from China and Beyond," Working Papers 202522, University of Macau, Faculty of Business Administration.
    25. Young‐Chul Jeong & Jisun Yu & Wonsang Ryu, 2024. "Connecting Cross‐Border Market Participants: The Intermediary Role of International Analysts in Global Capital Markets," Journal of Management Studies, Wiley Blackwell, vol. 61(6), pages 2535-2569, September.
    26. Niclas Dombrowski & Wolfgang Drobetz & Lars Hornuf & Paul P. Momtaz, 2023. "The Financial and Non-Financial Performance of Token-Based Crowdfunding: Certification Arbitrage, Investor Choice, and the Optimal Timing of ICOs," CESifo Working Paper Series 10393, CESifo.
    27. Rahim, Imad & Mian, Rehman U. & Mian, Affan, 2024. "Country-level heterogeneity in foreign institutional investment horizons and firm value," International Review of Financial Analysis, Elsevier, vol. 92(C).
    28. Weian Li & Yupei Liu & Lixiang Wang, 2024. "Moral mentor of the company? Multifaceted influence of sustainable and responsible funds on corporate social responsibility disclosure in China," Asia Pacific Journal of Management, Springer, vol. 41(4), pages 2213-2249, December.
    29. Imad Rahim & Rehman U. Mian & Affan Mian, 0000. "Country-level foreign institutional investment horizons, excess cash holdings, and firm value: International evidence," Proceedings of Economics and Finance Conferences 13815929, International Institute of Social and Economic Sciences.
    30. Hossain, Ashrafee & Masum, Abdullah-Al & Benkraiem, Ramzi, 2024. "Long-term institutional investors and climate change news Beta," Journal of Corporate Finance, Elsevier, vol. 89(C).
    31. Kałdoński, Michał & Jewartowski, Tomasz, 2025. "Are institutional investors effective monitors in a country where closely held firms predominate? Insights from agency problem-driven dividend payouts," Research in International Business and Finance, Elsevier, vol. 77(PB).
    32. Driss, Hamdi & Drobetz, Wolfgang & El Ghoul, Sadok & Guedhami, Omrane, 2021. "Institutional investment horizons, corporate governance, and credit ratings: International evidence," Journal of Corporate Finance, Elsevier, vol. 67(C).

  29. Döring, Simon & Drobetz, Wolfgang & El Ghoul, Sadok & Guedhami, Omrane & Schröder, Henning, 2021. "Cross-country determinants of institutional investors’ investment horizons," Finance Research Letters, Elsevier, vol. 39(C).

    Cited by:

    1. Valeriya Azarova & Mathias Mier, 2021. "Investor Type Heterogeneity in Bottom-Up Optimization Models," ifo Working Paper Series 362, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    2. Breuer, Wolfgang & Trauzettel, Till & Müller, Torbjörn & Salzmann, Astrid, 2024. "An International Perspective on Corporate Social Responsibility, Investor Time Preferences, and Cost of Equity," International Business Review, Elsevier, vol. 33(1).
    3. Thompson, Linh, 2025. "Human capital disclosures and institutional ownership," Finance Research Letters, Elsevier, vol. 71(C).
    4. Xiang, Weiming & Liu, Liping, 2025. "The mechanism of institutional ownership volatility on stock price deviation," Finance Research Letters, Elsevier, vol. 80(C).
    5. Ferretti, Riccardo & Pattitoni, Pierpaolo & Pedrazzoli, Alessia, 2024. "Do cultural differences affect the share price puzzle?," Journal of Multinational Financial Management, Elsevier, vol. 75(C).
    6. Kałdoński, Michał & Jewartowski, Tomasz, 2025. "Are institutional investors effective monitors in a country where closely held firms predominate? Insights from agency problem-driven dividend payouts," Research in International Business and Finance, Elsevier, vol. 77(PB).

  30. Bae, Kee-Hong & El Ghoul, Sadok & Guedhami, Omrane & Zheng, Xiaolan, 2021. "Board Reforms and Dividend Policy: International Evidence," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 56(4), pages 1296-1320, June.

    Cited by:

    1. Huang, Hua & Tao, Yunqing & Wang, Xueping & Feng, Chen & Ye, Yongwei, 2023. "Do board reforms in parent firms boost subsidiaries’ innovation?," Economic Modelling, Elsevier, vol. 125(C).
    2. Chen, Ruiyuan (Ryan) & Liu, Feiyu (Andy) & Zhao, Chen, 2024. "Worldwide board reforms and financial reporting quality," Research in International Business and Finance, Elsevier, vol. 69(C).
    3. Chang, Yuyuan & He, Wen & Mi, Lin, 2024. "Climate risk and payout flexibility around the world," Journal of Banking & Finance, Elsevier, vol. 166(C).
    4. Ricardo D. Brito & Paulo Sergio O. Ribeiro & Antonio Z. Sanvicente, 2021. "The Substitute Model of Dividends at Work: a change in minority shareholder protection," Working Papers, Department of Economics 2021_25, University of São Paulo (FEA-USP).
    5. Chen, Xiaoqi & Chih-Chieh Chris, Hsieh & Tsang, Albert & Xiang, Yi, 2022. "Cross-border enforcement of securities laws and dividend payouts," The British Accounting Review, Elsevier, vol. 54(6).
    6. To, Thomas & Wu, Eliza & Zhao, Diya, 2024. "Global board reforms and corporate acquisition performance," LSE Research Online Documents on Economics 123947, London School of Economics and Political Science, LSE Library.
    7. Lai, Shu-Miao & Liu, Chih-Liang, 2025. "How do global board reforms affect managerial investment decisions?," Research in International Business and Finance, Elsevier, vol. 77(PB).
    8. Si, Yi & Yu, Minfeng & Zhang, Lei & Zhou, Qing (Clara), 2025. "Board reforms and firm employment: Worldwide evidence," Journal of Banking & Finance, Elsevier, vol. 171(C).
    9. Lee, Chien-Chiang & Wang, Chih-Wei & Huang, Chun-Wei & Sharma, Susan Sunila, 2025. "Corporate dividend behavior under uncertainty: A study of Chinese firms," Pacific-Basin Finance Journal, Elsevier, vol. 91(C).
    10. Xudong Fu & Darren Kisgen & Lei Kong, 2025. "Corporate Share Repurchase Policies and Labor Share," Working Papers 25-14, Center for Economic Studies, U.S. Census Bureau.
    11. Yilin Luo & Chenkai Ni & James Thewissen, 2024. "Currency flotation and dividend policies: Evidence from China's central parity reform," Financial Management, Financial Management Association International, vol. 53(1), pages 145-174, March.
    12. Wang, Hu & Shen, Hong & Li, Shouwei, 2023. "Does green direct financing work in reducing carbon risk?," Economic Modelling, Elsevier, vol. 128(C).
    13. Simeng Liu & Kun Tracy Wang & Yue Wu, 2024. "Corporate Governance Reforms and Analyst Forecasts: International Evidence," Abacus, Accounting Foundation, University of Sydney, vol. 60(2), pages 272-304, June.
    14. Machokoto, Michael & Lemma, Tesfaye T. & Kadzima, Marvelous, 2025. "Language structure and corporate financing: The role of future time reference," International Review of Financial Analysis, Elsevier, vol. 105(C).
    15. Bui, Loc T., 2025. "Democracy, dividends, and corporate valuation," Journal of Corporate Finance, Elsevier, vol. 95(C).
    16. Chang, Yuyuan & He, Wen & Mi, Lin, 2024. "Cross-border regulatory cooperation and cash holdings: Evidence from US-listed foreign firms," The British Accounting Review, Elsevier, vol. 56(6).
    17. Chen, Xiaoqi & Li, Weiping & Torsin, Wouter & Tsang, Albert, 2024. "Dividend policy under mandatory ESG reporting," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 93(C).
    18. Xiaoqiao Wang & Jing Xie & Bohui Zhang & Xiaofeng Zhao, 2024. "Unraveling the Dividend Puzzle: A Field Experiment," Working Papers 202406, University of Macau, Faculty of Business Administration.
    19. Salikhova, Tatiana & Ugarov, Alexander & Orlova, Svetlana, 2024. "Dividend smoothing and financial transparency," Finance Research Letters, Elsevier, vol. 62(PA).
    20. Hu, Jinshuai & Jiang, Haiyan & Wu, Yibing, 2023. "How does privatization affect cash dividends? Quasi-experimental evidence from China," Emerging Markets Review, Elsevier, vol. 57(C).
    21. Chasiotis, Ioannis & Loukopoulos, Georgios & Toudas, Kanellos, 2024. "Organization capital, dividends and firm value: International evidence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 97(C).
    22. Lai, Tat-kei & Ng, Travis & Tsang, Kwok Ping, 2025. "Do foreign firms cater to American investors’ dividend desires?," Journal of International Money and Finance, Elsevier, vol. 158(C).
    23. Liu, Guanchun & Wang, Qihong & Tao, Yunqing, 2024. "Does SASAC boost the innovation of state-owned enterprises?," Pacific-Basin Finance Journal, Elsevier, vol. 87(C).
    24. Kambar Farooq & Muhammad Azeem & Chin Man Chui & Jun (Tony) Ruan, 2023. "Board Connections and Dividend Policy," Abacus, Accounting Foundation, University of Sydney, vol. 59(4), pages 983-1040, December.
    25. Manar Al-Mohareb, 2025. "The Impact of Cyber Governance Quality on Dividend Policy in Mitigating Cybersecurity Breaches," Risks, MDPI, vol. 13(2), pages 1-14, February.
    26. Eugen-Axel Mihancea & Marilen-Gabriel Pirtea & Florin-Claudiu Boțoc, 2021. "Bibliometric Analysis on the Recent Trends in Dividend Policy Research," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 1051-1059, December.
    27. Akindayomi, Akinloye & Amin, Md Ruhul, 2022. "Does business strategy affect dividend payout policies?," Journal of Business Research, Elsevier, vol. 151(C), pages 531-550.
    28. Boulifa, Hichem & Uchida, Konari, 2024. "Do share offerings increase payouts?," Pacific-Basin Finance Journal, Elsevier, vol. 85(C).
    29. Larry Fauver & Mingyi Hung & Alvaro G. Taboada & Emily Jing Wang, 2024. "Boardroom gender diversity reforms and institutional monitoring: global evidence," Review of Accounting Studies, Springer, vol. 29(1), pages 621-664, March.
    30. Huy Viet Hoang, 2025. "Who Pays for Cybersecurity? Corporate Dividends in Response to Cybersecurity Risk in US Firms," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(6), pages 18085-18123, December.
    31. Chang, Yuyuan & Foss, Nicolai J. & Li, Shuping & Xie, Jing, 2024. "Compensation peer effects of corporate social responsibility," Journal of Corporate Finance, Elsevier, vol. 89(C).
    32. Najah Attig, 2024. "Relaxed Financial Constraints and Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 189(1), pages 111-131, January.
    33. Kaouther Chebbi & Mohammed Abdullah Ammer, 2022. "Board Composition and ESG Disclosure in Saudi Arabia: The Moderating Role of Corporate Governance Reforms," Sustainability, MDPI, vol. 14(19), pages 1-25, September.
    34. Lan, Ge & Gao, Xin & Zheng, Xiaolan & Zhou, Hang & Li, Donghui, 2025. "Does short-selling threat potentially influence corporate risk-taking? Evidence from equity lending supply," International Review of Financial Analysis, Elsevier, vol. 97(C).
    35. Hamdi Driss & Sadok El Ghoul & Omrane Guedhami & John K. Wald, 2023. "Governance and leverage: International evidence," The Financial Review, Eastern Finance Association, vol. 58(2), pages 261-285, May.
    36. Muhammad Farooq Ahmad & Nihat Aktas & Douglas Cumming & Guosong Xu, 2024. "Board reforms and M&A performance: international evidence," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 55(5), pages 616-637, July.
    37. Ernest Ezeani & Samuel Fulgence & Wansu Hu & Frank Kwabi & Chizindu Wonu, 2025. "Corporate board reform and capital structure dynamics: evidence from UK," Review of Quantitative Finance and Accounting, Springer, vol. 65(3), pages 973-1003, October.
    38. Weiping Li & Xuezhi Zhang & Shuyi Cheng & Xiaohang Ren, 2024. "Clear the air via dividends: Corporates' response to air pollution," Business Strategy and the Environment, Wiley Blackwell, vol. 33(4), pages 3383-3396, May.

  31. Cao, Zhongyu & El Ghoul, Sadok & Guedhami, Omrane & Kwok, Chuck, 2020. "National culture and the choice of exchange rate regime," Journal of International Money and Finance, Elsevier, vol. 101(C).

    Cited by:

    1. Duan, Yuejiao & Guedhami, Omrane & Li, Xinming & Zhao, Daxuan, 2024. "Individualism and bank financial structure similarity," Journal of International Money and Finance, Elsevier, vol. 148(C).
    2. Kotkowski, Radoslaw, 2023. "National culture and the demand for physical money during the first year of the COVID-19 pandemic," Finance Research Letters, Elsevier, vol. 51(C).
    3. Aliyev, Ruslan & Zeynalov, Ayaz, 2025. "Determinants of the choice of exchange rate regime in oil-exporting countries," Economic Systems, Elsevier, vol. 49(2).
    4. Gaganis, Chrysovalantis & Pasiouras, Fotios & Wohlschlegel, Ansgar, 2021. "Allocating supervisory responsibilities to central bankers: Does national culture matter?," International Review of Law and Economics, Elsevier, vol. 67(C).
    5. Koráb, Petr & Fidrmuc, Jarko & Dibooglu, Sel, 2023. "Growth and inflation tradeoffs of dollarization: Meta-analysis evidence," Journal of International Money and Finance, Elsevier, vol. 137(C).
    6. Chui, Andy C.W. & Li, Xiao & Saffar, Walid, 2021. "National culture and the choice between bank debt and public debt," Pacific-Basin Finance Journal, Elsevier, vol. 70(C).
    7. Altdörfer, Marc & Guettler, Andre & Löffler, Gunter, 2024. "Analyst distance and credit rating consistency," Journal of International Money and Finance, Elsevier, vol. 143(C).
    8. Boubakri, Narjess & Cao, Zhongyu & El Ghoul, Sadok & Guedhami, Omrane & Li, Xinming, 2023. "National culture and bank liquidity creation," Journal of Financial Stability, Elsevier, vol. 64(C).
    9. Najia Maraoui & Thouraya Hadj Amor & Islem Khefacha & Christophe Rault, 2022. "How Economic, Political and Institutional Factors Influence the Choice of Exchange Rate Regimes? New Evidence from Selected Countries of the MENA Region," CESifo Working Paper Series 9709, CESifo.

  32. Boubakri, Narjess & El Ghoul, Sadok & Guedhami, Omrane & Hossain, Mahmud, 2020. "Post-privatization state ownership and bank risk-taking: Cross-country evidence," Journal of Corporate Finance, Elsevier, vol. 64(C).

    Cited by:

    1. Ding, Xiaoya & Guedhami, Omrane & Ni, Yang & Pittman, Jeffrey A., 2020. "Local and foreign institutional investors, information asymmetries, and state ownership," Pacific-Basin Finance Journal, Elsevier, vol. 63(C).
    2. Huang, Ke & Zhu, Ying, 2022. "China’s secondary privatization and corporate investment efficiency," Research in International Business and Finance, Elsevier, vol. 61(C).
    3. Ma, Xiaotian & Liu, Guanchun & Liu, Yuanyuan & He, Feng, 2025. "Government ownership of banks and corporate maturity mismatch: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 176(C).
    4. Jing, Zhongbo & Liu, Wei & Wang, Zexi & Wei, Lu & Zhang, Xuan, 2024. "Does local government debt regulation improve rural banks’ performance? Evidence from China," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 91(C).
    5. Douglas Cumming & Pedro Monteiro, 2023. "Sovereign wealth fund investment in venture capital, private equity, and real asset funds," Journal of International Business Policy, Palgrave Macmillan, vol. 6(3), pages 330-355, September.
    6. Tiago M. Dutra & João C. A. Teixeira & José Carlos Dias, 2024. "The effect of political institutions on the interplay between banking regulation and banks’ risk," Journal of Banking Regulation, Palgrave Macmillan, vol. 25(2), pages 179-196, June.
    7. Cui, Ling & Si, Deng-Kui, 2024. "Does RMB exchange rate regime reform decrease corporate risk-taking? Evidence from China," Finance Research Letters, Elsevier, vol. 69(PA).
    8. Mou, Saiya & Wang, Xinquan & Hu, Feng, 2025. "Does privatization hurt ESG? The role of state-owned imprinting," Energy Economics, Elsevier, vol. 151(C).
    9. Runsen Yuan & Chunling Li & Nian Li & Muhammad Asif Khan & Xiaoran Sun & Nosherwan Khaliq, 2021. "Can Mixed-Ownership Reform Drive the Green Transformation of SOEs?," Energies, MDPI, vol. 14(10), pages 1-25, May.
    10. Duan, Yuejiao & El Ghoul, Sadok & Guedhami, Omrane & Li, Haoran & Li, Xinming, 2021. "Bank systemic risk around COVID-19: A cross-country analysis," Journal of Banking & Finance, Elsevier, vol. 133(C).
    11. Pan, Zhilei & Li, Shouwei & Li, Jingwei & Gong, Chen, 2024. "Air pollution and bank risk taking: Evidence from China," Finance Research Letters, Elsevier, vol. 65(C).
    12. Hu, Jinshuai & Jiang, Haiyan & Wu, Yibing, 2023. "How does privatization affect cash dividends? Quasi-experimental evidence from China," Emerging Markets Review, Elsevier, vol. 57(C).
    13. Ding, Bin Yan & Wei, Feng, 2023. "Overlapping membership between risk management committee and audit committee and bank risk-taking: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 86(C).
    14. Li, Xiang, 2022. "The role of state-owned banks in crises: Evidence from German banks during COVID-19," IWH Discussion Papers 6/2022, Halle Institute for Economic Research (IWH), revised 2022.
    15. Pu, Guifang & Xie, Yanxiang & Wang, Kai, 2023. "Board faultlines and risk-taking," Finance Research Letters, Elsevier, vol. 51(C).
    16. Kowalewski, Oskar, 2023. "Effect of operating multiple affiliates on the performance of subsidiaries in the same host country," Research in International Business and Finance, Elsevier, vol. 65(C).
    17. Bellardini, Luca & Murro, Pierluigi & Previtali, Daniele, 2024. "Measuring the risk appetite of bank-controlling shareholders: The Risk-Weighted Ownership index," Global Finance Journal, Elsevier, vol. 60(C).
    18. Matabaro Borauzima, Luc & Muller, Aline, 2023. "Bank risk-taking and competition in developing banking markets: Does efficiency level matter? Evidence from Africa," Emerging Markets Review, Elsevier, vol. 55(C).
    19. Wei, Lu & Wei, Mingye & Jing, Haozhe & Jing, Zhongbo, 2025. "Annual report tone and bank risk-taking behavior: Evidence from China," Research in International Business and Finance, Elsevier, vol. 77(PA).
    20. Béchir Ben Lahouel & Lotfi Taleb & Kristína Kočišová & Younes Ben Zaied, 2023. "The threshold effects of income diversification on bank stability: an efficiency perspective based on a dynamic network slacks-based measure model," Annals of Operations Research, Springer, vol. 330(1), pages 267-304, November.
    21. Wang, Liuming & Cheng, Chen & Mu, Jinghao, 2025. "Intergenerational succession and family business investment preference," Finance Research Letters, Elsevier, vol. 85(PA).
    22. Douglas A. Adu, 2024. "How do board and ownership characteristics affect bank risk-taking? New evidence from sub-Saharan Africa," Journal of Banking Regulation, Palgrave Macmillan, vol. 25(3), pages 209-233, September.
    23. Usman, Muhammad & Umar, Zaghum & Choi, Sun-Yong & Teplova, Tamara, 2024. "Quantifying endogenous and exogenous shocks to financial sector systemic risk: A comparison of GFC and COVID-19," The Quarterly Review of Economics and Finance, Elsevier, vol. 94(C), pages 281-293.
    24. Sacadura, José Nuno & Bentes, Sónia R., 2025. "Does government ownership influence the dividend payments of European banks?," Research in International Business and Finance, Elsevier, vol. 79(C).
    25. Dutra, Tiago M. & Teixeira, João C.A. & Dias, José Carlos, 2023. "Banking regulation and banks’ risk-taking behavior: The role of investors’ protection," The Quarterly Review of Economics and Finance, Elsevier, vol. 90(C), pages 124-148.
    26. Li, Chengyou & Li, Yuxin & Xu, Yun & Sun, Guanglin, 2025. "Research on the impact of financial technology on risk-taking of commercial banks," Research in International Business and Finance, Elsevier, vol. 76(C).
    27. Dridi, Ichrak & Boughrara, Adel, 2021. "On the effect of full-fledged IT adoption on stock returns and their conditional volatility: Evidence from propensity score matching," The Quarterly Review of Economics and Finance, Elsevier, vol. 80(C), pages 179-194.

  33. Berger, Allen N. & Chen, Ruiyuan (Ryan) & El Ghoul, Sadok & Guedhami, Omrane, 2020. "Who wins and who loses from bank geographic deregulation? Analysis of financially constrained and unconstrained firms," Journal of Corporate Finance, Elsevier, vol. 65(C).

    Cited by:

    1. Lai, Shaojie & Chen, Lihan & Wang, Qing Sophie & Anderson, Hamish D., 2023. "Bank competition and corporate employment: Evidence from the geographic distribution of bank branches in China," Journal of Banking & Finance, Elsevier, vol. 154(C).
    2. Tesfaye T Lemma & Michael Machokoto & Tendai Gwatidzo, 2024. "Basel III regulations and financing decisions of nonfinancial firms the South African evidence," Working Papers 11067, South African Reserve Bank.
    3. Teng, Mingming & Tan, Weijie, 2023. "Bank branch agglomeration and corporate green transformation: Evidence from China," Finance Research Letters, Elsevier, vol. 58(PB).
    4. Si, Deng-Kui & Li, Xiao-Lin, 2022. "Shadow banking business and firm risk-taking: Evidence from China," Research in International Business and Finance, Elsevier, vol. 62(C).
    5. Sun, Ruohan & Zhou, Nan & Zhang, Bing, 2023. "Can bank branch establishment help SMEs survive? Evidence from China," International Review of Financial Analysis, Elsevier, vol. 88(C).
    6. Li, Bo & Cheng, Yue & Tian, Guangning, 2024. "Bank competition and firm asset- debt maturity mismatch: Evidence from the SMEs in China," Research in International Business and Finance, Elsevier, vol. 69(C).
    7. Qiu, Guojing & Si, Deng-Kui & Hu, Debao & Li, Xinqi, 2023. "Banking deregulation and export product quality," Pacific-Basin Finance Journal, Elsevier, vol. 82(C).
    8. Liang, Shuo & Moreira, Fernando & Lee, Joosung, 2025. "Bank geographic diversification and market competition," The Quarterly Review of Economics and Finance, Elsevier, vol. 102(C).
    9. Usman, Muhammad & Umar, Zaghum & Choi, Sun-Yong & Teplova, Tamara, 2024. "Quantifying endogenous and exogenous shocks to financial sector systemic risk: A comparison of GFC and COVID-19," The Quarterly Review of Economics and Finance, Elsevier, vol. 94(C), pages 281-293.
    10. Wang, Chaochao & Dong, Yan & Ge, Ran, 2023. "Bank branching deregulation and the credit risk of the regional banking sector: Evidence from city commercial banks in China," Emerging Markets Review, Elsevier, vol. 55(C).
    11. Chaudhry, Neeru & Kumari, Damini, 2024. "How do banks price carbon risk? Evidence from India," Pacific-Basin Finance Journal, Elsevier, vol. 84(C).
    12. Ben Abdesslem, Rim & Chkir, Imed & Dabbou, Halim, 2022. "Is managerial ability a moderator? The effect of credit risk and liquidity risk on the likelihood of bank default," International Review of Financial Analysis, Elsevier, vol. 80(C).
    13. Zhang, Xiaoqian & Huang, Bin, 2022. "Does bank competition inhibit the formation of zombie firms?," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 1045-1060.
    14. Mi, Biao & Zhang, Luqiao & Han, Liang & Shen, Yun, 2024. "Bank market power and financial reporting quality," Journal of Corporate Finance, Elsevier, vol. 84(C).
    15. Mi, Biao & Zhang, Luqiao & Han, Liang, 2025. "Balancing acts: Bank market deregulation and the dynamics of earnings management," International Review of Financial Analysis, Elsevier, vol. 101(C).
    16. Cathcart, Lara & Dufour, Alfonso & Rossi, Ludovico & Varotto, Simone, 2024. "Corporate bankruptcy and banking deregulation: The effect of financial leverage," Journal of Banking & Finance, Elsevier, vol. 166(C).
    17. Li, Xiao-Lin & Yang, Miao & Ge, Xinyu & Zhao, Chen, 2025. "Monetary policy uncertainty and corporate credit financing in China: The role of accounting information quality," Economic Modelling, Elsevier, vol. 144(C).

  34. Attig, Najah & Chen, Ruiyuan & El Ghoul, Sadok & Guedhami, Omrane & Kwok, Chuck & Pittman, Jeffrey, 2020. "Are insiders equal? Evidence from earnings management in closely held East Asian firms," Research in International Business and Finance, Elsevier, vol. 54(C).

    Cited by:

    1. Chen, Ruiyuan (Ryan) & Liu, Feiyu (Andy) & Zhao, Chen, 2024. "Worldwide board reforms and financial reporting quality," Research in International Business and Finance, Elsevier, vol. 69(C).
    2. Maria Angela Manzi & Antonio Netti & Christian Favino & Fabrizia Sarto, 2025. "Financial accounting in family business: a systematic literature review and future research agenda," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 29(1), pages 231-275, March.

  35. Boubakri, Narjess & Chen, Ruiyuan (Ryan) & El Ghoul, Sadok & Guedhami, Omrane & Nash, Robert, 2020. "State ownership and stock liquidity: Evidence from privatization," Journal of Corporate Finance, Elsevier, vol. 65(C).

    Cited by:

    1. Wen, Conghua & Jiang, Rui & Lin, Xiao, 2025. "Convertible bond issuance and liquidity of small-cap listed companies," Finance Research Letters, Elsevier, vol. 79(C).
    2. Tee, Chwee-Ming & Wong, Wai-Yan & Hooy, Chee-Wooi, 2024. "Political connections and carbon footprint: A cross-country evidence," International Review of Economics & Finance, Elsevier, vol. 93(PB), pages 69-85.
    3. Huang, Ke & Zhu, Ying, 2022. "China’s secondary privatization and corporate investment efficiency," Research in International Business and Finance, Elsevier, vol. 61(C).
    4. Anureet Virk Sidhu & Shailesh Rastogi & Rajani Gupte & Venkata Mrudula Bhimavarapu, 2022. "Impact of Liquidity Coverage Ratio on Performance of Select Indian Banks," JRFM, MDPI, vol. 15(5), pages 1-17, May.
    5. Douglas Cumming & Pedro Monteiro, 2023. "Sovereign wealth fund investment in venture capital, private equity, and real asset funds," Journal of International Business Policy, Palgrave Macmillan, vol. 6(3), pages 330-355, September.
    6. Li, WeiWei & Huang, Ruilei & Gan, Zhongxin & Jiang, Zhiyan, 2024. "Do state-affiliated corporate shareholders matter for asset-liability maturity mismatch?," Finance Research Letters, Elsevier, vol. 60(C).
    7. Yee - Ee Chia & Ricky Chee - Jiun Chia & Mohd Ashari Bakri, 2023. "COVID-19 and stock liquidity: Evidence from top 30 Kuala Lumpur composite index," Economics Bulletin, AccessEcon, vol. 43(1), pages 280-294.
    8. Kuntal K. Das & Mona Yaghoubi, 2025. "Climate Sentiment-Induced Stock Liquidity," Working Papers in Economics 25/12, University of Canterbury, Department of Economics and Finance.
    9. Breugem, Matthijs & Corvino, Raffaele, 2021. "Dynamic ownership and private benefits," Journal of Corporate Finance, Elsevier, vol. 67(C).
    10. M. Kouzez & J. Y. Lee & J. Mahfod-Leroux, 2024. "Investment in ESG activities and bank performance: does bank ownership matter?," Post-Print hal-03859287, HAL.
    11. Muhammad Ansar Majeed & Irfan Ullah & Samia Tariq & Tanveer Ahsan, 2025. "Does brand capital improve stock liquidity? Evidence from China," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 30(1), pages 382-404, January.
    12. Marwan Alzoubi, 2025. "Liquidity funding and lending in MENA," Journal of Banking Regulation, Palgrave Macmillan, vol. 26(3), pages 464-473, September.
    13. Qiu, Yixin & Chen, Jinyu & Ding, Qian, 2025. "Corporate climate risk exposure and stock liquidity: New evidence based on heterogeneous environmental regulation," Research in International Business and Finance, Elsevier, vol. 79(C).
    14. Liu, Xutang & Boubaker, Sabri & Liao, Jing & Yao, Shouyu, 2025. "The rise of common state ownership and corporate environmental performance," The British Accounting Review, Elsevier, vol. 57(5).
    15. Song, Gaoya & Li, Quan, 2024. "Mixed ownership reform and trade credit: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 95(PC).
    16. Sanchez Navarro,Dennis, 2024. "What Happens When the State Is Bossing around Markets ? An Analysis of the Performance Differentials between Businesses of the State (BOS) and Private-Owned Enterprises (POEs)," Policy Research Working Paper Series 10820, The World Bank.
    17. Philip Sinnadurai & Susela Devi, 2022. "Understanding Post-Privatisation Performance of Statutory Bodies Subject to Government Shareholding—A Suggested Theoretical Framework, for Malaysian Researchers," JRFM, MDPI, vol. 15(5), pages 1-15, May.
    18. Lin, Xin-Yi & Liu, Jing-Yue & Zhang, Yue-Jun, 2024. "Does corporate social responsibility affect stock liquidity? Evidence from China," Finance Research Letters, Elsevier, vol. 60(C).
    19. Andrey B. Ankudinov & Bela S. Bataeva, 2021. "Capital structure and market capitalization: Empirical analysis of Russian public companies," Upravlenets, Ural State University of Economics, vol. 12(2), pages 35-42, April.
    20. Ruiyuan Chen & Sadok El Ghoul & Omrane Guedhami & Chuck C. Y. Kwok & Robert Nash, 2021. "International evidence on state ownership and trade credit: Opportunities and motivations," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(6), pages 1121-1158, August.
    21. Nguyen, Van Ha & Dang, Tung Lam, 2025. "Corporate social responsibility and stock liquidity across the globe," International Review of Economics & Finance, Elsevier, vol. 101(C).

  36. Attig, Najah & Driss, Hamdi & El Ghoul, Sadok, 2020. "Rating standards around the world: A puzzle?," Emerging Markets Review, Elsevier, vol. 45(C).

    Cited by:

    1. Nguyen, Harvey & Pham, Anh Viet & Pham, Man Duy (Marty) & Pham, Mia Hang, 2025. "Climate change and corporate credit worthiness: International evidence," Global Finance Journal, Elsevier, vol. 64(C).
    2. Changman Ren & Xiaoxing Lin, 2024. "The impact of performance feedback on corporate ESG performance: Mediating role of environmental strategy," PLOS ONE, Public Library of Science, vol. 19(3), pages 1-25, March.
    3. Krystyniak, Karolina & Staneva, Viktoriya, 2024. "The myth of tightening credit rating standards in the market for corporate debt," Journal of Banking & Finance, Elsevier, vol. 162(C).
    4. Driss, Hamdi & Drobetz, Wolfgang & El Ghoul, Sadok & Guedhami, Omrane, 2021. "Institutional investment horizons, corporate governance, and credit ratings: International evidence," Journal of Corporate Finance, Elsevier, vol. 67(C).

  37. El Ghoul, Sadok & Guedhami, Omrane & Kwok, Chuck C.Y. & Zheng, Ying, 2019. "Collectivism and the costs of high leverage," Journal of Banking & Finance, Elsevier, vol. 106(C), pages 227-245.

    Cited by:

    1. Lai, Shaojie & Chen, Lihan & Wang, Qing Sophie & Anderson, Hamish, 2022. "Natural disasters, trade credit, and firm performance," Economic Modelling, Elsevier, vol. 116(C).
    2. Li, Wanli & Xu, Xixiong & Long, Zhineng, 2020. "Confucian Culture and Trade Credit: Evidence from Chinese Listed Companies," Research in International Business and Finance, Elsevier, vol. 53(C).
    3. Li, Qian & Wang, Shihao & Song, Victor, 2026. "Controlling shareholders Abroad: How overseas residency rights influence the costs of corporate Leverage?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 106(C).
    4. Abdelsalam, Omneya & Chantziaras, Antonios & Batten, Jonathan A. & Aysan, Ahmet Faruk, 2021. "Major shareholders’ trust and market risk: Substituting weak institutions with trust," Journal of Corporate Finance, Elsevier, vol. 66(C).
    5. Basha, Shabeen Afsar & Bennasr, Hamdi & Goaied, Mohamed, 2025. "Culture, financial literacy, and leverage of small firms," Research in International Business and Finance, Elsevier, vol. 75(C).
    6. El Ghoul, Sadok & Fu, Zhengwei & Guedhami, Omrane, 2021. "Zombie firms: Prevalence, determinants, and corporate policies," Finance Research Letters, Elsevier, vol. 41(C).
    7. Bertrand, Jérémie & Klein, Paul-Olivier & Pasiouras, Fotios, 2024. "National culture of secrecy and firms’ access to credit," Journal of Banking & Finance, Elsevier, vol. 168(C).
    8. Chui, Andy C.W. & Li, Xiao & Saffar, Walid, 2021. "National culture and the choice between bank debt and public debt," Pacific-Basin Finance Journal, Elsevier, vol. 70(C).
    9. Corina Burunciuc & Halit Gonenc, 2020. "Reforms Protecting Minority Shareholders and Firm Performance: International Evidence," JRFM, MDPI, vol. 14(1), pages 1-24, December.
    10. Li, Qian & Wang, Shihao & Song, Victor, 2023. "Product competition, political connections, and the costs of high leverage," Journal of Empirical Finance, Elsevier, vol. 74(C).
    11. Qianqian Chen & Shilin Liu, 2025. "Internal Control Quality and Leverage Manipulation: Evidence from Chinese State-Owned Listed Companies," Sustainability, MDPI, vol. 17(7), pages 1-29, March.
    12. Xu, Qifa & Tan, Chao & Jiang, Cuixia & Zhao, Qinna, 2022. "Surname relationship and trade credit: Evidence from China," Research in International Business and Finance, Elsevier, vol. 60(C).
    13. Christopher Dupuis & Ying Zheng, 2024. "Import Penetration and Corporate Misconduct: A Natural Experiment," Journal of Business Ethics, Springer, vol. 195(3), pages 475-506, December.
    14. Georg Adam, 2020. "Zur Dynamik der Arbeitsbeziehungen in vier EU-Mitgliedsländern (Finnland, Portugal, Rumänienund Slowenien): Ursachen und Auswirkungen," Working Paper Reihe der AK Wien - Materialien zu Wirtschaft und Gesellschaft 198, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik.
    15. Wang, Jianxin & Huang, Cailing & Xu, Lin & Zhang, Junhuan, 2023. "Drinking into friends: Alcohol drinking culture and CEO social connections," Journal of Economic Behavior & Organization, Elsevier, vol. 212(C), pages 982-995.
    16. Dak-Adzaklo, Cephas Simon Peter & Adza, Solomon Wise Dodzidenu & Asamoah, Joseph Maxwell & Tah, Pascar Tagwan, 2025. "Societal secrecy and corporate debt financing choice," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 103(C).

  38. Bae, Kee-Hong & El Ghoul, Sadok & Guedhami, Omrane & Kwok, Chuck C.Y. & Zheng, Ying, 2019. "Does corporate social responsibility reduce the costs of high leverage? Evidence from capital structure and product market interactions," Journal of Banking & Finance, Elsevier, vol. 100(C), pages 135-150.

    Cited by:

    1. Diana Alhajjeah & Mustafa Besim, 2024. "Firms’ Capital Structure during Crises: Evidence from the United Kingdom," Sustainability, MDPI, vol. 16(13), pages 1-25, June.
    2. Ahmed Imran Hunjra & Peter Verhoeven & Qasim Zureigat, 2020. "Capital Structure as a Mediating Factor in the Relationship between Uncertainty, CSR, Stakeholder Interest and Financial Performance," JRFM, MDPI, vol. 13(6), pages 1-18, June.
    3. Vilija Aleknevièiene & Sandra Stralkute, 2023. "Impact of corporate social responsibility on cost of debt in Scandinavian public companies," Oeconomia Copernicana, Institute of Economic Research, vol. 14(2), pages 585-608, June.
    4. Ni, Xiaoran, 2020. "Does stakeholder orientation matter for earnings management: Evidence from non-shareholder constituency statutes," Journal of Corporate Finance, Elsevier, vol. 62(C).
    5. Wenbing Luo & Ziyan Tian & Xusheng Fang & Mingjun Deng, 2024. "Can good ESG performance reduce stock price crash risk? Evidence from Chinese listed companies," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(3), pages 1469-1492, May.
    6. Barbara Grabinska & Dorota Kedzior & Marcin Kedzior & Konrad Grabinski, 2021. "The Impact of CSR on the Capital Structure of High-Tech Companies in Poland," Sustainability, MDPI, vol. 13(10), pages 1-20, May.
    7. Imen Latrous & Jihene Kchaou & Myriam Ertz & Yosra Mnif, 2024. "Corporate Social Responsibility in Canadian Family Businesses: A Socioemotional Wealth Perspective," IJFS, MDPI, vol. 12(3), pages 1-45, July.
    8. Nana Liu & Chuanzhe Liu & Quan Guo & Bowen Da & Linna Guan & Huiying Chen, 2019. "Corporate Social Responsibility and Financial Performance: A Quantile Regression Approach," Sustainability, MDPI, vol. 11(13), pages 1-22, July.
    9. Bae, Kee-Hong & El Ghoul, Sadok & Gong, Zhaoran (Jason) & Guedhami, Omrane, 2021. "Does CSR matter in times of crisis? Evidence from the COVID-19 pandemic," Journal of Corporate Finance, Elsevier, vol. 67(C).
    10. Kankan Wen & Andrew Agyemang & Noha Alessa & Inusah Sulemana & Abednego Osei, 2023. "The Moderating Role of Ownership Concentration on Financing Decisions and Firm’s Sustainability: Evidence from China," Sustainability, MDPI, vol. 15(18), pages 1-14, September.
    11. Li, Qian & Wang, Shihao & Song, Victor, 2026. "Controlling shareholders Abroad: How overseas residency rights influence the costs of corporate Leverage?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 106(C).
    12. Ine Paeleman & Nadja Guenster & Tom Vanacker & Ana Cristina O. Siqueira, 2024. "The Consequences of Financial Leverage: Certified B Corporations’ Advantages Compared to Common Commercial Firms," Journal of Business Ethics, Springer, vol. 189(3), pages 507-523, January.
    13. Lu Zhang & Yuan George Shan & Millicent Chang, 2021. "Can CSR Disclosure Protect Firm Reputation During Financial Restatements?," Journal of Business Ethics, Springer, vol. 173(1), pages 157-184, September.
    14. Xu, Shen & Chen, Xia & Li, Antai & Xia, Xinping, 2020. "Disclosure for whom? Government involvement, CSR disclosure and firm value," Emerging Markets Review, Elsevier, vol. 44(C).
    15. He, Guanming & Li, Zhichao & Yu, Ling & Zhou, Zhanqiang, 2023. "Contribution to poverty alleviation: A waste or benefit for corporate financing?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 89(C).
    16. El Ghoul, Sadok & Guedhami, Omrane & Kwok, Chuck C.Y. & Zheng, Ying, 2019. "Collectivism and the costs of high leverage," Journal of Banking & Finance, Elsevier, vol. 106(C), pages 227-245.
    17. Zhang, Shafu & Magnan, Michel & Qiu, Yetaotao & Zeng, Cheng Colin, 2022. "Do banks price production process failures? Evidence from product recalls," Journal of Banking & Finance, Elsevier, vol. 135(C).
    18. Yao Wang & Yinyin Han & Qiuxuan Du & Deshuai Hou, 2023. "Executive Overconfidence and Corporate Environmental, Social, and Governance Performance," Sustainability, MDPI, vol. 15(21), pages 1-22, November.
    19. Boubakri, Narjess & El Ghoul, Sadok & Guedhami, Omrane & Wang, He (Helen), 2021. "Corporate social responsibility in emerging market economies: Determinants, consequences, and future research directions," Emerging Markets Review, Elsevier, vol. 46(C).
    20. Porzio, Claudio & Salerno, Dario & Stella, Gian Paolo, 2023. "Retail investors’ sensitivity to the development and promotion of CSR issues," Finance Research Letters, Elsevier, vol. 53(C).
    21. Wang, Ziqiao & Zhang, Wei & Zhang, Xiaotao, 2024. "Sociopolitical activity and corporate default risk: Evidence from the targeted poverty alleviation program in China," International Review of Financial Analysis, Elsevier, vol. 96(PA).
    22. Huang, Ming & Wang, Xiaoxiao & Wang, Xuewu & Zhang, Qunzi, 2024. "Carbon risk and corporate maturity mismatch," Journal of International Money and Finance, Elsevier, vol. 149(C).
    23. Bai, Min & Ho, Ly, 2022. "Corporate social performance and firm debt levels: Impacts of the covid-19 pandemic and institutional environments," Finance Research Letters, Elsevier, vol. 47(PB).
    24. Fatemi, Ali & Fooladi, Iraj & Zhao, Yonggan & Ma, Zongming, 2024. "On the superior performance of SRI funds," International Review of Economics & Finance, Elsevier, vol. 93(PA), pages 567-581.
    25. Ali Fatemi & Iraj Fooladi, 2020. "A primer on sustainable value creation," Review of Financial Economics, John Wiley & Sons, vol. 38(3), pages 452-473, July.
    26. He Huang & Ye Ye, 2021. "Rethinking capital structure decision and corporate social responsibility in response to COVID‐19," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(3), pages 4757-4788, September.
    27. Mohammad Hendijani Zadeh & Michel Magnan & Denis Cormier & Ahmad Hammami, 2021. "Does corporate social responsibility transparency mitigate corporate cash holdings?," International Journal of Managerial Finance, Emerald Group Publishing Limited, vol. 19(1), pages 63-87, December.
    28. Zhe Ouyang & Ruixue Lv & Yang Liu, 2023. "Can corporate social responsibility protect firm value during corporate environmental violation events?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(4), pages 1942-1952, July.
    29. Yuyuan Chang & Wen He & Jianling Wang, 2021. "Government Initiated Corporate Social Responsibility Activities: Evidence from a Poverty Alleviation Campaign in China," Journal of Business Ethics, Springer, vol. 173(4), pages 661-685, November.
    30. Yasmine Souissi & Anis Jarboui, 2025. "Does Corporate Governance Shape the Relationship between Corporate Social Responsibility Performance and Financial Distress in Large European Companies?," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 15(1), pages 57-82.
    31. Drobetz, Wolfgang & El Ghoul, Sadok & Guedhami, Omrane & Hackmann, Jan P. & Momtaz, Paul P., 2024. "Entrepreneurial finance and sustainability: Do institutional investors impact the ESG performance of SMEs?," Journal of Business Venturing Insights, Elsevier, vol. 22(C).
    32. Bofinger, Yannik & Heyden, Kim J. & Rock, Björn, 2022. "Corporate social responsibility and market efficiency: Evidence from ESG and misvaluation measures," Journal of Banking & Finance, Elsevier, vol. 134(C).
    33. Malik, Ihtisham A. & Chowdhury, Hasibul & Alam, Md Samsul, 2023. "Equity market response to natural disasters: Does firm's corporate social responsibility make difference?," Global Finance Journal, Elsevier, vol. 55(C).
    34. Liu, Simeng & Wang, Kun Tracy & Walpola, Sonali, 2023. "Female board representation and the adoption of corporate social responsibility criteria in executive compensation contracts: International evidence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 82(C).
    35. Ashrafee Hossain & Samir Saadi & Abu S. Amin, 2023. "Does CEO Risk-Aversion Affect Carbon Emission?," Journal of Business Ethics, Springer, vol. 182(4), pages 1171-1198, February.
    36. Li, Qian & Wang, Shihao & Song, Victor, 2023. "Product competition, political connections, and the costs of high leverage," Journal of Empirical Finance, Elsevier, vol. 74(C).
    37. Saeed, Abubakr & Zamir, Farah, 2021. "How does CSR disclosure affect dividend payments in emerging markets?," Emerging Markets Review, Elsevier, vol. 46(C).
    38. Katarina Valaskova & George Lazaroiu & Judit Olah & Anna Siekelova & Barbora Lancova, 2019. "How Capital Structure Affects Business Valuation: A Case Study of Slovakia," Central European Business Review, Prague University of Economics and Business, vol. 2019(3), pages 1-17.
    39. Ho, Ly & Bai, Min & Lu, Yue & Qin, Yafeng, 2021. "The effect of corporate sustainability performance on leverage adjustments," The British Accounting Review, Elsevier, vol. 53(5).
    40. Metin Borak & Hatice Dogukanli, 2023. "Effect of Corporate Social Responsibility on Portfolio Performance: Evidence From Turkey," SAGE Open, , vol. 13(4), pages 21582440231, December.
    41. Zhang, Lin & Cui, Xiaomeng & Jing, Wei, 2024. "Who are responsible venture capitalists? The effect of business experience," International Review of Economics & Finance, Elsevier, vol. 96(PA).
    42. Zaheda Daruwala, 2023. "Influence of Financial Leverage on Corporate Profitability: Does it Really Matter?," International Journal of Economics and Financial Issues, Econjournals, vol. 13(4), pages 37-46, July.
    43. Cheng, Xin & (Helen) Wang, He & Wang, Xianjue, 2022. "Common institutional ownership and corporate social responsibility," Journal of Banking & Finance, Elsevier, vol. 136(C).
    44. Bax, Karoline & Sahin, Özge & Czado, Claudia & Paterlini, Sandra, 2023. "ESG, risk, and (tail) dependence," International Review of Financial Analysis, Elsevier, vol. 87(C).
    45. Christopher Dupuis & Ying Zheng, 2024. "Import Penetration and Corporate Misconduct: A Natural Experiment," Journal of Business Ethics, Springer, vol. 195(3), pages 475-506, December.
    46. D'Mello, Ranjan & Kwon, Sungjoung & Toscano, Francesca, 2024. "Corporate social responsibility and the executive-employee pay disparity," Journal of Banking & Finance, Elsevier, vol. 162(C).
    47. Cheng, Zhonghua & Su, Yang, 2024. "ESG and Chinese corporate OFDI," Research in International Business and Finance, Elsevier, vol. 72(PA).
    48. Simo, Christelle & Tchakoute Tchuigoua, Hubert & Nzongang, Joseph, 2023. "Does corporate social responsibility pay? Evidence from social ratings in microfinance institutions," Technological Forecasting and Social Change, Elsevier, vol. 187(C).
    49. Alhajjeah, Diana & Besim, Mustafa & Al-Hajieh, Heitham, 2025. "Mitigating crisis impact: The influence of corporate social responsibility on non-financial firms’ financial performance," International Review of Economics & Finance, Elsevier, vol. 101(C).
    50. Khan, Muhammad Arif & Hassan, M. Kabir & Maraghini, Maria Pia & Paolo, Biancone & Valentinuz, Giorgio, 2024. "Valuation effect of ESG and its impact on capital structure: Evidence from Europe," International Review of Economics & Finance, Elsevier, vol. 91(C), pages 19-35.
    51. Karim Ben Khediri, 2021. "CSR and investment efficiency in Western European countries," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(6), pages 1769-1784, November.
    52. Dewangan, Shobhana & Kannadhasan, M., 2025. "Analyzing the impact of sustainable performance on working capital management: Evidence from emerging markets," Pacific-Basin Finance Journal, Elsevier, vol. 92(C).
    53. Qian Ding & Jianbai Huang & Jinyu Chen & Ding Wang, 2025. "ESG peer effects and corporate financial distress: An executive social network perspective," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 30(3), pages 2284-2310, July.
    54. Hossain, Ashrafee Tanvir & Kryzanowski, Lawrence, 2021. "Political corruption and Corporate Social Responsibility (CSR)," Journal of Behavioral and Experimental Finance, Elsevier, vol. 31(C).
    55. Nguyen, Van Ha & Dang, Tung Lam, 2025. "Corporate social responsibility and stock liquidity across the globe," International Review of Economics & Finance, Elsevier, vol. 101(C).
    56. Meftah Gerged, Ali & Kuzey, Cemil & Uyar, Ali & Karaman, Abdullah S., 2023. "Does investment stimulate or inhibit CSR transparency? The moderating role of CSR committee, board monitoring and CEO duality," Journal of Business Research, Elsevier, vol. 159(C).
    57. Kun Li & Chaohua He & Wassim Dbouk & Ke Zhao, 2021. "The Value of CSR in Acquisitions: Evidence from China," Sustainability, MDPI, vol. 13(7), pages 1-21, March.
    58. Koptyug, Nikita & Persson, Lars & Tåg, Joacim, 2020. "Should we worry about the decline of the public corporation? A brief survey of the economics and external effects of the stock market," The North American Journal of Economics and Finance, Elsevier, vol. 51(C).
    59. Karoline Bax & Ozge Sahin & Claudia Czado & Sandra Paterlini, 2021. "ESG, Risk, and (Tail) Dependence," Papers 2105.07248, arXiv.org, revised Nov 2021.
    60. Dumitrescu, Ariadna & El Hefnawy, Menatalla & Zakriya, Mohammed, 2020. "Golden geese or black sheep: Are stakeholders the saviors or saboteurs of financial distress?," Finance Research Letters, Elsevier, vol. 37(C).
    61. Sabbaghi, Omid, 2022. "The impact of news on the volatility of ESG firms," Global Finance Journal, Elsevier, vol. 51(C).
    62. Tingting Hu & Kun You & Char-Lee Lok, 2025. "State ownership, political connection and ESG performance," Risk Management, Palgrave Macmillan, vol. 27(1), pages 1-33, February.
    63. Clancey-Shang, Danjue & Fu, Chengbo, 2024. "CSR disclosure, political risk and market quality: Evidence from the Russia-Ukraine conflict," Global Finance Journal, Elsevier, vol. 60(C).

  39. Sadok El Ghoul & Omrane Guedhami & Robert Nash & Ajay Patel, 2019. "New Evidence on the Role of the Media in Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 154(4), pages 1051-1079, February.

    Cited by:

    1. Chourou, Lamia, 2023. "Corporate donations and religiosity: Cross-country evidence," Journal of Behavioral and Experimental Finance, Elsevier, vol. 39(C).
    2. Xia, Yun & Xie, Linling & Chen, Xiao & Lin, Ziang, 2025. "Artificial intelligence and corporate fraud: Evidence from China," Economic Analysis and Policy, Elsevier, vol. 86(C), pages 1391-1408.
    3. Pawan Jain & Mohamed Mekhaimer & Ronald W. Spahr & Mark A. Sunderman, 2024. "Freedom of choice impact on country-specific liquidity commonality," Review of Quantitative Finance and Accounting, Springer, vol. 63(1), pages 265-309, July.
    4. Douglas Cumming & Lars Hornuf & Moein Karami & Denis Schweizer, 2023. "Disentangling Crowdfunding from Fraudfunding," Journal of Business Ethics, Springer, vol. 182(4), pages 1103-1128, February.
    5. Xiaocui Li & Nengmin Wang & Bin Jiang & Tao Jia, 2023. "Institutional pressures and proactive environmental strategy: The mediating effect of top managerial environment attitude and the moderating effect of new media pressure," Business Strategy and the Environment, Wiley Blackwell, vol. 32(8), pages 6106-6123, December.
    6. Hadi Khan & Vatcharapol Sukhotu, 2020. "Influence of media exposure and Corporate Social Responsibility compliance on customer perception: The moderating role of Firm's reputation risk," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(5), pages 2107-2121, September.
    7. Jin Wang & Singha Chaveesuk & Vasu Keerativutisest, 2025. "Corporate Social Responsibility and Financial Performance in the Chinese Pharmaceutical Sector: The Roles of Technological Innovation and Media Coverage," Sustainability, MDPI, vol. 17(8), pages 1-22, April.
    8. Hongjin Zhu & Yue Pan & Jiaping Qiu & Jinli Xiao, 2022. "Hometown Ties and Favoritism in Chinese Corporations: Evidence from CEO Dismissals and Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 176(2), pages 283-310, March.
    9. Xiaona Luo & Chan Lyu, 2024. "Green Bonds Drive Environmental Performance: Evidences from China," Sustainability, MDPI, vol. 16(10), pages 1-20, May.
    10. Luo, Yi & Ma, Jian & Wang, Yu & Ye, Aishan, 2022. "Board internationalization and corporate social responsibility," The North American Journal of Economics and Finance, Elsevier, vol. 63(C).
    11. Mehdi Khodakarami & Hassan Yazdifar & Alireza Faraji Khaledi & Saeed Bagheri Kheirabadi & Amin Sarlak, 2024. "The Level of Islamic Religiosity of the Local Community and Corporate Environmental Responsibility Disclosure: Evidence from Iran," Journal of Business Ethics, Springer, vol. 190(2), pages 483-512, March.
    12. Peter Kotzian, 2023. "Carrots or sticks? Inferring motives of corporate CSR Engagement from empirical data," Review of Managerial Science, Springer, vol. 17(8), pages 2921-2943, November.
    13. Xue, Xingnan & Hu, Nan, 2023. "Economic policy uncertainty and imitation behaviors of corporate social responsibility practices: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 89(C).
    14. Lee, Jeoung Yul & Park, Byung Il & Ghauri, Pervez N. & Kumar, Vikas, 2024. "Corruptive practices, digitalization, and international business," Journal of Business Research, Elsevier, vol. 181(C).
    15. Yong Hu & Qian Liu, 2023. "Local Digital Economy and Corporate Social Responsibility," Sustainability, MDPI, vol. 15(11), pages 1-20, May.
    16. Jiang, Guoliang Frank & Jung, Jae C. & Makino, Shige, 2020. "Parent Firm Corporate Social Responsibility and Overseas Subsidiary Performance: A Signaling Perspective," Journal of World Business, Elsevier, vol. 55(6).
    17. Jing Zhou & Silin Ye & Wei Lan & Yunwen Jiang, 2021. "The effect of social media on corporate violations: Evidence from Weibo posts in China," International Review of Finance, International Review of Finance Ltd., vol. 21(3), pages 966-988, September.
    18. Wang, Ziqiao & Zhang, Wei & Hao, Jing & Zhang, Xiaotao, 2025. "The State as a Catalyst: How Government-Initiated Social Program Boosts Firm Performance?," Economic Analysis and Policy, Elsevier, vol. 87(C), pages 1501-1521.
    19. Chkir, Imed & Rjiba, Hatem & Mrad, Fatma & Khalil, Afef, 2023. "Trust and corporate social responsibility: International evidence," Finance Research Letters, Elsevier, vol. 58(PA).
    20. Liang, Ting & Zhang, Yue-Jun & Qiang, Wei, 2022. "Does technological innovation benefit energy firms’ environmental performance? The moderating effect of government subsidies and media coverage," Technological Forecasting and Social Change, Elsevier, vol. 180(C).
    21. Romero-Martínez, Ana M. & García-Muiña, Fernando E., 2021. "Digitalization level, corruptive practices, and location choice in the hotel industry," Journal of Business Research, Elsevier, vol. 136(C), pages 176-185.
    22. Yaru Tang & Mengdi Liu & Fan Xia & Bing Zhang, 2024. "Informal regulation by nongovernmental organizations enhances corporate compliance: Evidence from a nationwide randomized controlled trial in China," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 43(1), pages 234-257, January.
    23. Zhu, Minghao & Yeung, Andy C.L. & Zhou, Honggeng, 2021. "Diversify or concentrate: The impact of customer concentration on corporate social responsibility," International Journal of Production Economics, Elsevier, vol. 240(C).
    24. Yan Zuo & Shenyang Jiang & Jiang Wei, 2022. "Can corporate social responsibility mitigate the liability of newness? Evidence from China," Small Business Economics, Springer, vol. 59(2), pages 573-592, August.
    25. Zhiru Guo & Chao Lu, 2020. "Corporate Environmental Performance in China: The Moderating Effects of the Media versus the Approach of Local Governments," IJERPH, MDPI, vol. 18(1), pages 1-18, December.
    26. Axel Cronert, 2022. "When the paper tiger bites: Evidence of compliance with unenforced regulation among employers in Sweden," Regulation & Governance, John Wiley & Sons, vol. 16(4), pages 1141-1159, October.
    27. Hildegunn Mellesmo Aslaksen & Clare Hildebrandt & Hans Chr. Garmann Johnsen, 2021. "The long-term transformation of the concept of CSR: towards a more comprehensive emphasis on sustainability," International Journal of Corporate Social Responsibility, Springer, vol. 6(1), pages 1-14, December.
    28. Zhou, Taiyun & Liu, Mingxuan & Zhang, Xiyu & Qi, Zheng & Qin, Ni, 2024. "Does institutional ownership affect corporate social responsibility? Evidence from China," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 84-98.
    29. Chourou, Lamia & Himick, Darlene & Saadi, Samir, 2023. "Regulatory uncertainty and corporate social responsibility," Finance Research Letters, Elsevier, vol. 55(PB).
    30. Liu, Mingzhi & Tang, Songlian & Wu, Zhenyu & Zeng, Rong, 2023. "The impact of foreign ownership on the media’s role in curbing insider trading around private meetings," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 88(C).
    31. Li, Qian & Wang, Zhouyuanye & Zhou, Ruodan, 2025. "Residents’ environmental participation and corporate green management: The influence of mandatory and voluntary behaviors," Finance Research Letters, Elsevier, vol. 80(C).
    32. Banerjee, Rajabrata & Gupta, Kartick & Han, Hien Duc & Krishnamurti, Chandrasekhar, 2025. "Do corrupt practices lead to increased cash holdings in firms? International evidence," Pacific-Basin Finance Journal, Elsevier, vol. 93(C).
    33. Jenna J. Burke, 2022. "Do Boards Take Environmental, Social, and Governance Issues Seriously? Evidence from Media Coverage and CEO Dismissals," Journal of Business Ethics, Springer, vol. 176(4), pages 647-671, April.
    34. Li, Wenqin & Benkraiem, Ramzi & Ding, Rong & Saadi, Samir & Zhang, Ziyang (John), 2024. "Board centrality and environmental disclosures: Evidence from the polluting Industries in China," Emerging Markets Review, Elsevier, vol. 60(C).
    35. Xiao, Zuoping & Zai, Jingjing & Su, Qiaoling, 2025. "Navigating through noise: Media's role in mitigating corruption's impact on bond markets in China," Research in International Business and Finance, Elsevier, vol. 79(C).
    36. El Ghoul, Sadok & Guedhami, Omrane & Jamshed, Rana, 2024. "Global perspectives on corporate social responsibility, political institutions, and the political economy," Global Finance Journal, Elsevier, vol. 60(C).
    37. Li, Haiyan & Yin, Peiyan & Zhou, Yonghong, 2025. "Public welfare-oriented media promotion and corporate donations: Evidence from “Touching China”," Journal of Economic Behavior & Organization, Elsevier, vol. 238(C).
    38. Long, Houyin & Lai, Guansen & Jiang, Jiaoliang & Liu, Ruonan, 2025. "The impact of top-down amplification of economic growth targets on CSR performance-evidence from China," International Review of Financial Analysis, Elsevier, vol. 101(C).
    39. Ashrafee Hossain & Samir Saadi & Abu S. Amin, 2023. "Does CEO Risk-Aversion Affect Carbon Emission?," Journal of Business Ethics, Springer, vol. 182(4), pages 1171-1198, February.
    40. Griffin, Dale & Guedhami, Omrane & Li, Kai & Lu, Guangli, 2021. "National culture and the valueto implications of corporate environmental and social performance," Journal of Corporate Finance, Elsevier, vol. 71(C).
    41. Natalya Bikmetova & Christo A. Pirinsky, 2026. "Do ESG Rating Agencies Improve ESG Performance?," Journal of Business Ethics, Springer, vol. 204(2), pages 335-365, March.
    42. Hye Lim Lee & Jin Ho Hwang & Do Yeol Ryu & Jong Woo Kim, 2025. "Open‐Source Data‐Driven Prediction of Environmental, Social, and Governance (ESG) Ratings Using Deep Learning Techniques," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 32(1), March.
    43. Wu, Po-yang & Zhang, Jing & Yang, Siyu, 2024. "Media pressure, corporate social responsibility, and the risk of share price crash," International Review of Economics & Finance, Elsevier, vol. 96(PB).
    44. Xiaoli Hao & Qingyu Sun & Ke Li & Yan Xue & Haitao Wu, 2025. "Can CSR effectively promote corporate green innovation efficiency?," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 27(7), pages 17525-17555, July.
    45. Cronert, Axel, 2019. "Is regulatory compliance by employers possible without enforcement? Evidence from the Swedish labor market," Working Paper Series 2019:23, IFAU - Institute for Evaluation of Labour Market and Education Policy.
    46. Shahid, Ahmad Usman & Patel, Chris & Pan, Peipei, 2022. "Corporate social responsibility, intrinsic religiosity, and investment decisions," Journal of Behavioral and Experimental Finance, Elsevier, vol. 34(C).
    47. Khan, Majid & Lockhart, James & Bathurst, Ralph, 2021. "The institutional analysis of CSR: Learnings from an emerging country," Emerging Markets Review, Elsevier, vol. 46(C).
    48. Richard W. Carney & Sadok El Ghoul & Omrane Guedhami & Jane W. Lu & He Wang, 2022. "Political corporate social responsibility: The role of deliberative capacity," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(8), pages 1766-1784, October.
    49. Wenbin Sun & Rahul Govind, 2022. "A New Understanding of Marketing and “Doing Good”: Marketing’s Power in the TMT and Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 176(1), pages 89-109, February.
    50. Chourou, Lamia & Grira, Jocelyn & Saadi, Samir, 2021. "Does empathy matter in corporate social responsibility? Evidence from emerging markets," Emerging Markets Review, Elsevier, vol. 46(C).
    51. Li, Shengnan & Zheng, Xinya & Liao, Jing & Niu, Jianbo, 2024. "Low-carbon city pilot policy and corporate environmental performance: Evidence from a quasi-natural experiment," International Review of Economics & Finance, Elsevier, vol. 89(PA), pages 1248-1266.
    52. Trang Nguyen, 2021. "Freedom of the press and corporate misconduct," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 48(9-10), pages 1668-1710, October.
    53. Wang, Yao & Sun, Guangfan & Yan, Xu & Zhang, Yunmeng, 2025. "Interest rate marketization and corporate social responsibility," Finance Research Letters, Elsevier, vol. 83(C).
    54. Li, Ming & Kong, Lingyao, 2024. "Executives with financial backgrounds and corporate social responsibility: Evidence from China," Finance Research Letters, Elsevier, vol. 61(C).
    55. Sun, Kunpeng & Wang, Dan & Xiao, Xing, 2022. "Another victory of retail investors: Social media's monitoring role on firms' earnings management," International Review of Financial Analysis, Elsevier, vol. 82(C).
    56. Fang Jia & Yanyin Li & Lihong Cao & Lintong Hu & Beibei Xu, 2022. "Institutional Shareholders and Firm ESG Performance: Evidence from China," Sustainability, MDPI, vol. 14(22), pages 1-17, November.
    57. Li, Xinwei & Tse, Ying Kei & Bu, Xiangzhi, 2025. "Examining corporate social irresponsibility in manufacturing: An eye-tracking study of social media news," International Journal of Production Economics, Elsevier, vol. 281(C).
    58. Huo, Xuehui & Shi, Haiquan, 2025. "Geopolitical risk and ESG rating divergence: Global evidence," Finance Research Letters, Elsevier, vol. 86(PB).
    59. Song, Siwen & Jun, Aelee & Luo, Tianpei & Ma, Shiguang, 2024. "Political legitimacy and CSR reporting: Evidence from non-SOEs in China," Global Finance Journal, Elsevier, vol. 60(C).
    60. Jennifer Martínez-Ferrero & Mehmet Eryilmaz & Nese Colakoglu, 2020. "How Does Board Gender Diversity Influence the Likelihood of Becoming a UN Global Compact Signatory? The Mediating Effect of the CSR Committee," Sustainability, MDPI, vol. 12(10), pages 1-19, May.
    61. Sui-Hua Yu & Wan-Chen Liang, 2020. "Exploring the Determinants of Strategic Corporate Social Responsibility: An Empirical Examination," Sustainability, MDPI, vol. 12(6), pages 1-16, March.
    62. Kim, Hee-Eun & Jo, Hoje & Ahn, Tae-Wook & Yi, Junesuh, 2022. "Corporate misconduct, media coverage, and stock returns," International Review of Financial Analysis, Elsevier, vol. 84(C).
    63. Hossain, Ashrafee T. & Masum, Abdullah-Al, 2022. "Does corporate social responsibility help mitigate firm-level climate change risk?," Finance Research Letters, Elsevier, vol. 47(PB).
    64. Xudong Zhuang & Xi Lin, 2023. "Invisible governance: Cognitive ability and corporate social responsibility," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(8), pages 4466-4481, December.
    65. Le, Anh-Tuan & Tran, Thao Phuong & Vu, Phuong-Linh, 2026. "ESG reputational risk and corporate dividend policy: International evidence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 106(C).
    66. Yongyi Shou & Xueshu Shan & Jinan Shao & Kee-hung Lai & Qing Zhou, 2024. "How Do Foreign SMEs Mitigate Violent Conflict Risk by Doing Good? An Instrumental Stakeholder Theory Perspective," Journal of Business Ethics, Springer, vol. 192(2), pages 407-422, June.
    67. Hossain, Ashrafee Tanvir & Kryzanowski, Lawrence, 2021. "Political corruption and Corporate Social Responsibility (CSR)," Journal of Behavioral and Experimental Finance, Elsevier, vol. 31(C).
    68. Shahid, Ahmad Usman & Patel, Chris & Pan, Peipei, 2025. "Islamic worldview, social consciousness, and socially responsible investment," Advances in accounting, Elsevier, vol. 68(C).
    69. I-Ju Chen & Iftekhar Hasan & Chih-Yung Lin & Tra Ngoc Vy Nguyen, 2021. "Do Banks Value Borrowers' Environmental Record? Evidence from Financial Contracts," Journal of Business Ethics, Springer, vol. 174(3), pages 687-713, December.
    70. Alan Bandeira Pinheiro & Gabriel Gusso Mazzo & Gabriele da Cunha Lopes & Manuel Castelo Branco, 2023. "A Bird’s Eye View: Uncovering the Impact of Stakeholder Pressure on Sustainable Development Goal Disclosure," Sustainability, MDPI, vol. 15(23), pages 1-15, November.
    71. Tan, Xue & Liu, Huaide, 2024. "Corporate environmental performance under the pressure of government environmental information disclosure," Finance Research Letters, Elsevier, vol. 69(PA).
    72. Clancey-Shang, Danjue & Fu, Chengbo, 2024. "CSR disclosure, political risk and market quality: Evidence from the Russia-Ukraine conflict," Global Finance Journal, Elsevier, vol. 60(C).

  40. Sadok El Ghoul & Omrane Guedhami & Chuck Kwok & Xiaolan Zheng, 2018. "Zero-Leverage Puzzle: An International Comparison," Review of Finance, European Finance Association, vol. 22(3), pages 1063-1120.

    Cited by:

    1. Machokoto, Michael & Chipeta, Chimwemwe & Aftab, Nadeem & Areneke, Geofry, 2021. "The financial conservatism of firms in emerging economies," Research in International Business and Finance, Elsevier, vol. 58(C).
    2. Franklin Allen & Meijun Qian, 2025. "Alternative finance in the international business context: a review and future research," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 56(1), pages 43-61, February.
    3. Choi, Young Mok & Park, Kunsu, 2022. "Zero-leverage policy and stock price crash risk: Evidence from Korea," International Review of Financial Analysis, Elsevier, vol. 81(C).
    4. Hossain, Mohammed Sawkat, 2021. "A revisit of capital structure puzzle: Global evidence and analysis," International Review of Economics & Finance, Elsevier, vol. 75(C), pages 657-678.
    5. Morais, Flávio & Serrasqueiro, Zélia & Ramalho, Joaquim J.S., 2022. "Capital structure speed of adjustment heterogeneity across zero leverage and leveraged European firms," Research in International Business and Finance, Elsevier, vol. 62(C).
    6. Saona, Paolo & Vallelado, Eleuterio & San Martín, Pablo, 2020. "Debt, or not debt, that is the question: A Shakespearean question to a corporate decision," Journal of Business Research, Elsevier, vol. 115(C), pages 378-392.
    7. Chauhan, Yogesh & Jaiswall, Manju & Goyal, Vinay, 2022. "Does societal trust affect corporate capital structure?," Emerging Markets Review, Elsevier, vol. 51(PA).
    8. El Ghoul, Sadok & Guedhami, Omrane & Kwok, Chuck C.Y. & Zheng, Ying, 2019. "Collectivism and the costs of high leverage," Journal of Banking & Finance, Elsevier, vol. 106(C), pages 227-245.
    9. Cathcart, Lara & Dufour, Alfonso & Rossi, Ludovico & Varotto, Simone, 2020. "The differential impact of leverage on the default risk of small and large firms," Journal of Corporate Finance, Elsevier, vol. 60(C).
    10. Vu Tuan Chu & Trang Hanh Lam Pham, 2021. "Zero leverage and product market competition," SN Business & Economics, Springer, vol. 1(4), pages 1-18, April.
    11. Li, Michelle & Roberts, Helen, 2023. "Zero leverage and dividend policy," Finance Research Letters, Elsevier, vol. 58(PB).
    12. Zhang, Sijia & Gregoriou, Andros, 2021. "The impact of order flow on event study returns: New evidence from zero-leverage firms," The Quarterly Review of Economics and Finance, Elsevier, vol. 80(C), pages 627-634.
    13. Feito-Ruiz, Isabel & Menéndez-Requejo, Susana, 2022. "Debt maturity in family firms: Heterogeneity across countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 81(C).
    14. Koji Sakai & Iichiro Uesugi, 2024. "The Extent and Efficiency of Credit Reallocation During Economic Downturns," JRFM, MDPI, vol. 17(12), pages 1-39, December.
    15. El Ghoul, Sadok & Fu, Zhengwei & Guedhami, Omrane, 2021. "Zombie firms: Prevalence, determinants, and corporate policies," Finance Research Letters, Elsevier, vol. 41(C).
    16. Michi NISHIHARA & Takashi SHIBATA, 2023. "Optimal capital structure with earnings above a floor," Discussion Papers in Economics and Business 23-09, Osaka University, Graduate School of Economics.
    17. Armanious, Amir & Zhao, Ruoyun, 2024. "Stock liquidity effect on leverage: The role of debt security, financial constraint, and risk around the global financial crisis and Covid-19 pandemic," International Review of Financial Analysis, Elsevier, vol. 92(C).
    18. Chui, Andy C.W. & Li, Xiao & Saffar, Walid, 2021. "National culture and the choice between bank debt and public debt," Pacific-Basin Finance Journal, Elsevier, vol. 70(C).
    19. Imed Chkir & Alireza Rahimzadeh & Syrine Sassi, 2025. "Unraveling the Impact of Product Market Competition and Earnings Volatility on Zero-Leverage Policies," JRFM, MDPI, vol. 18(2), pages 1-28, February.
    20. Chipeta, Chimwemwe & Aftab, Nadeem & Machokoto, Michael, 2021. "The implications of financial conservatism for African firms," Finance Research Letters, Elsevier, vol. 42(C).
    21. Uz Zaman, Qamar & Ehsan, Sadaf & Hassan, Mohammad Kabir & Javed, Muzhar & Ul Hassan, Syed Iftikhar, 2022. "Corporate Social Responsibility and Zero Leverage," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 56(1), pages 33-46.
    22. Michael Espindola Araki & Henrique Castro Martins, 2022. "Integrating uncertainty and governance into a capital structure puzzle: can risk-taking and rule-taking explain zero-leverage firms?," Review of Managerial Science, Springer, vol. 16(6), pages 1979-2034, August.
    23. Boubakri, Narjess & Cao, Zhongyu & El Ghoul, Sadok & Guedhami, Omrane & Li, Xinming, 2023. "National culture and bank liquidity creation," Journal of Financial Stability, Elsevier, vol. 64(C).
    24. Nishihara, Michi & Shibata, Takashi, 2025. "Optimal capital structure with earnings above a floor," European Journal of Operational Research, Elsevier, vol. 326(3), pages 656-673.
    25. Sardo, Filipe & Serrasqueiro, Zélia & Armada, Manuel Rocha, 2024. "Is the zero-leverage policy a persistent phenomenon? Evidence from Portuguese SMEs," Research in International Business and Finance, Elsevier, vol. 69(C).
    26. Wu, Po-yang & Zhang, Jing & Yang, Siyu, 2024. "Media pressure, corporate social responsibility, and the risk of share price crash," International Review of Economics & Finance, Elsevier, vol. 96(PB).
    27. Cuong, Ly Kim & Shimizu, Katsutoshi & Cui, Weihan, 2021. "The determinants of negative net leverage policy: New evidence from Japan," Economic Modelling, Elsevier, vol. 97(C), pages 449-460.
    28. Dong, Shengke & Jiang, Yuexiang, 2025. "Determinants for predicting zero-leverage decisions: A machine learning approach," Finance Research Letters, Elsevier, vol. 71(C).
    29. Morais, Flávio & Serrasqueiro, Zélia & Ramalho, Joaquim J.S., 2020. "The zero-leverage phenomenon: A bivariate probit with partial observability approach," Research in International Business and Finance, Elsevier, vol. 53(C).
    30. Mateus Waga & Davi Valladão & Alexandre Street & Thuener Silva, 2022. "Disentangling Shareholder Risk Aversion from Leverage-Dependent Borrowing Cost on Corporate Policies," Computational Economics, Springer;Society for Computational Economics, vol. 60(3), pages 1-24, October.
    31. Goodell, John W. & Kumar, Satish & Lahmar, Oumaima & Pandey, Nitesh, 2023. "A bibliometric analysis of cultural finance," International Review of Financial Analysis, Elsevier, vol. 85(C).
    32. Choi, Jiyoon, 2025. "Financial flexibility or financial constraints? Zero-leverage firms during the COVID-19 pandemic," Research in International Business and Finance, Elsevier, vol. 74(C).
    33. Dang, Huong Dieu, 2023. "Retrospective wisdom: Long-term orientation and the rating downgrades of financial institutions," Global Finance Journal, Elsevier, vol. 57(C).
    34. Attaoui, Sami & Cao, Wenbin & Duan, Xiaoman & Liu, Hening, 2021. "Optimal capital structure, ambiguity aversion, and leverage puzzles," Journal of Economic Dynamics and Control, Elsevier, vol. 129(C).
    35. Paulo Miguel Gama & Fátima Sol Murta & Elisabete S. Vieira, 2024. "Local banking development and SME conservative financing policy. Does bank branch density matter?," Small Business Economics, Springer, vol. 63(4), pages 1747-1765, December.
    36. Saona, Paolo & San-Martin, Pablo & Vallelado, Eleuterio, 2024. "The zero-debt puzzle in BRICS countries: Disentangling the financial flexibility and financial constraints hypotheses," Emerging Markets Review, Elsevier, vol. 61(C).

  41. Chen, Ruiyuan (Ryan) & El Ghoul, Sadok & Guedhami, Omrane & Nash, Robert, 2018. "State Ownership and Corporate Cash Holdings," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 53(5), pages 2293-2334, October.

    Cited by:

    1. Zhang, Xiang & Zhou, Han, 2022. "The effect of market competition on corporate cash holdings: An analysis of corporate innovation and financial constraint," International Review of Financial Analysis, Elsevier, vol. 82(C).
    2. Kalimipalli, Madhu & Morohunfolu, Olaleye & Ramachandran, Shankar, 2024. "Do repeated government infusions help financial stability? Evidence from an emerging market," Journal of Financial Stability, Elsevier, vol. 75(C).
    3. Tan, Jianhua & Chen, Tao & Zhang, Peng & Chan, Kam C., 2021. "Environmental rule enforcement and cash holdings: Evidence from a natural experiment," Economic Modelling, Elsevier, vol. 103(C).
    4. Tan, Jianhua & Wang, Xiongyuan & Chan, Kam C., 2020. "Does a national reform of a logistics system matter in corporate cash management? Evidence from logistics service standardization in China," Pacific-Basin Finance Journal, Elsevier, vol. 63(C).
    5. Elyasiani, Elyas & Movaghari, Hadi, 2022. "Determinants of corporate cash holdings: An application of a robust variable selection technique," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 967-993.
    6. Wang, Xueting & Wang, Man & Wu, Haoran, 2024. "Geopolitical risk and corporate cash Holdings in China: Precautionary motive and agency problem perspectives," International Review of Financial Analysis, Elsevier, vol. 93(C).
    7. Guoqiang Hu & Jason Zezhong Xiao & Yuhan Zhen, 2022. "The Effect of Dialect Sharing on Corporate Cash Holdings in China," Abacus, Accounting Foundation, University of Sydney, vol. 58(3), pages 393-431, September.
    8. Xu, Lili & Lee, Sang-Ho, 2021. "Policy implications of the CSR in an international transportation market under subsidy," MPRA Paper 106259, University Library of Munich, Germany.
    9. David Adeabah & Charles Andoh & Simplice A. Asongu & Isaac Akomea-Frimpong, 2021. "Elections, Political Connections and Cash Holdings: Evidence from Local Assemblies," Working Papers of the African Governance and Development Institute. 21/004, African Governance and Development Institute..
    10. Lin, Ling & Xiao, Min & Yao, Rongrong & Zhang, Xiaoying, 2024. "Product market liberalization and corporate cash holdings: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 86(C).
    11. Tahir Akhtar & Ameen Qasem & Shoaib Khan, 2025. "Internal corporate governance and cash holdings: the role of external governance mechanism," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 22(1), pages 1-27, March.
    12. Li, WeiWei & Huang, Ruilei & Gan, Zhongxin & Jiang, Zhiyan, 2024. "Do state-affiliated corporate shareholders matter for asset-liability maturity mismatch?," Finance Research Letters, Elsevier, vol. 60(C).
    13. Jizhe Yang & Tingfeng Jiang & Lu Dai, 2022. "State‐ownership and corporate cash holding: Evidence from China," Australian Economic Papers, Wiley Blackwell, vol. 61(2), pages 217-233, June.
    14. Chen, Ruiyuan (Ryan) & Guedhami, Omrane & Yang, Yang & Zaynutdinova, Gulnara R., 2020. "Corporate governance and cash holdings: Evidence from worldwide board reforms," Journal of Corporate Finance, Elsevier, vol. 65(C).
    15. El Ghoul, Sadok & Guedhami, Omrane & Mansi, Sattar & Wang, He (Helen), 2023. "Economic policy uncertainty, institutional environments, and corporate cash holdings," Research in International Business and Finance, Elsevier, vol. 65(C).
    16. Chen, Xiaoqiu & Hu, Feng, 2025. "Employee pension welfare and corporate risk-taking: Evidence from the enterprise annuity system in China," Pacific-Basin Finance Journal, Elsevier, vol. 94(C).
    17. Berent Tomasz & Śniechowski Maciej, 2023. "Corporate sector cash holding – optimal levels, macro context, or external shocks?," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 59(4), pages 297-314, December.
    18. Wang, Wei & Wang, Hua & Wu, Ji (George), 2021. "Mixed ownership reform and corporate tax avoidance: Evidence of Chinese listed firms," Pacific-Basin Finance Journal, Elsevier, vol. 69(C).
    19. Almaghrabi, Khadija S., 2023. "Non‐operating risk and cash holdings: Evidence from pension risk," Journal of Banking & Finance, Elsevier, vol. 152(C).
    20. Paul Brockman & Sadok El Ghoul & Omrane Guedhami & Ying Zheng, 2022. "Does social trust affect international contracting? Evidence from foreign bond covenants," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(6), pages 1011-1044, August.
    21. Lin Lei & Han Zhou & Dingding Wang, 2024. "Marketization and corporate cash holdings: Role of financial constraint alleviation," International Review of Finance, International Review of Finance Ltd., vol. 24(4), pages 743-771, December.
    22. S. I. Dolgikh & B. S. Potanin, 2023. "The Impact of Public Administration on the Efficiency of Russian Firms," Studies on Russian Economic Development, Springer, vol. 34(1), pages 59-67, February.
    23. Akhtar, Tahir & Chen, Liqian & Abdullah, Muhammad & Islam, Md Saiful & Tareq, Mohammad Ali, 2025. "Shareholder perks and cash holdings: Board influence in firms with and without perks," International Review of Economics & Finance, Elsevier, vol. 101(C).
    24. Adza, Solomon Wise Dodzidenu & Dak-Adzaklo, Adelaide & Bimpong, Patrick & Kudoh, James Edudzi & Dak-Adzaklo, Cephas Simon Peter, 2025. "Terrorism, institutional environment, and corporate cash holdings," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 105(C).
    25. Zhou, Lei & Wei, Feng, 2025. "Equity pledge and controlling shareholders’ over-appointing of directors," International Review of Economics & Finance, Elsevier, vol. 101(C).
    26. Boubakri, Narjess & El Ghoul, Sadok & Guedhami, Omrane & Hossain, Mahmud, 2020. "Post-privatization state ownership and bank risk-taking: Cross-country evidence," Journal of Corporate Finance, Elsevier, vol. 64(C).
    27. Marwick, Alex & Hasan, Mostafa Monzur & Luo, Tianpei, 2020. "Organization capital and corporate cash holdings," International Review of Financial Analysis, Elsevier, vol. 68(C).
    28. Song, Gaoya & Li, Quan, 2024. "Mixed ownership reform and trade credit: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 95(PC).
    29. Tahir Akhtar & Mohammad Ali Tareq & Kashif Rashid, 2021. "Chief Executive Officers’ monitoring, board effectiveness, managerial ownership, and cash holdings: evidence from ASEAN," Review of Managerial Science, Springer, vol. 15(8), pages 2193-2238, November.
    30. Zhang, Xiaoqian & Yu, Mingqiang & Chen, Gaoquan, 2020. "Does mixed-ownership reform improve SOEs' innovation? Evidence from state ownership," China Economic Review, Elsevier, vol. 61(C).
    31. Yao, Youfu & Hong, Yun, 2023. "Can comment letters impact excess cash holdings? Evidence from China," International Review of Economics & Finance, Elsevier, vol. 83(C), pages 900-922.
    32. Wu, Zhenshu & Shih, Yi-Cheng & Wang, Yao & Zhong, Rui, 2025. "The effects of decarbonization on corporate cash holdings," Emerging Markets Review, Elsevier, vol. 69(C).
    33. Ahmad Alkhataybeh & Safaa Adnan AlSmadi & Mohammad Ziad Shakhatreh & Mohammad A. Khataybeh, 2022. "Government Ownership and Corporate Cash Holdings: Empirical Evidence from the Amman Stock Exchange," Sustainability, MDPI, vol. 14(18), pages 1-14, September.
    34. Tahir Akhtar & Mohammad Ali Tareq & Kashif Rashid, 2023. "The role of shareholders and creditors' rights in affecting cash holdings and firm value: A recent evidence from ASEAN," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(1), pages 929-961, January.
    35. Xu, Lili & Zhao, Qinghong & Chen, Yuyan & Lee, Sang-Ho, 2023. "Post privatization of high-speed rail with corporate social responsibility (CSR) in an international transportation market: Mandatory CSR versus voluntary CSR," Economics of Transportation, Elsevier, vol. 35(C).
    36. Shuang Jin & Wei Wang & Zilong Zhang, 2023. "The Real Effects of Implicit Government Guarantee: Evidence from Chinese State-Owned Enterprise Defaults," Management Science, INFORMS, vol. 69(6), pages 3650-3674, June.
    37. Yang, Yulong & Qian, Youhua & Li, Shengnan, 2023. "State capital and cash holdings in natural private enterprises: New evidence and a new explanation," Finance Research Letters, Elsevier, vol. 51(C).
    38. Boubakri, Narjess & Chen, Ruiyuan (Ryan) & El Ghoul, Sadok & Guedhami, Omrane & Nash, Robert, 2020. "State ownership and stock liquidity: Evidence from privatization," Journal of Corporate Finance, Elsevier, vol. 65(C).
    39. Chen, Yinghui & Chen, Miao & Huang, Yong, 2025. "Multiple large shareholders and cash holdings: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 103(C).
    40. Alessandro Zattoni & Emmanouil Dedoulis & Stergios Leventis & Hans Van Ees, 2020. "Corporate governance and institutions—A review and research agenda," Corporate Governance: An International Review, Wiley Blackwell, vol. 28(6), pages 465-487, November.
    41. Boubakri, Narjess & El Ghoul, Sadok & Guedhami, Omrane & Megginson, William L., 2018. "The market value of government ownership," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 44-65.
    42. Goyal, Abhinav & Jategaonkar, Shrikant P. & Muckley, Cal B., 2020. "Why do privatized firms pay higher dividends?," Journal of Corporate Finance, Elsevier, vol. 60(C).
    43. Lin, Xiaowei & Li, Ao & Zhang, Pengdong & Chen, Wenchuan, 2023. "The disciplinary role of product market competition on cash holding," International Review of Economics & Finance, Elsevier, vol. 83(C), pages 653-671.
    44. Boubakri, Narjess & Guedhami, Omrane & Kwok, Chuck C.Y. & Wang, He (Helen), 2019. "Is privatization a socially responsible reform?," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 129-151.
    45. Bram De Lange & Bruno Merlevede, 2020. "State-Owned Enterprises across Europe: Stylized Facts from a Large Firm-level Dataset," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 20/1006, Ghent University, Faculty of Economics and Business Administration.
    46. Hung-Wen Lin & Kun-Ben Lin & Jing-Bo Huang & Shu-Heng Chen, 2021. "Timely Loss Recognition Helps Nothing," Sustainability, MDPI, vol. 13(14), pages 1-24, July.
    47. Qiankun Meng & Yupei Liu & Wei’an Li & Mingshan Yu, 2023. "Bonding or Indulgence? The Role of Overborrowing on Firms’ Innovation: Evidence from China," Sustainability, MDPI, vol. 15(2), pages 1-23, January.
    48. Jory, Surendranath R. & Khieu, Hinh D. & Ngo, Thanh N. & Phan, Hieu V., 2020. "The influence of economic policy uncertainty on corporate trade credit and firm value," Journal of Corporate Finance, Elsevier, vol. 64(C).
    49. Tan, Jianhua & Tan, Zhidong & Chan, Kam C., 2021. "Does air pollution affect a firm's cash holdings?," Pacific-Basin Finance Journal, Elsevier, vol. 67(C).
    50. Jiang, Jiaoliang & Chen, Yulin, 2021. "How does labor protection influence corporate risk-taking? Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 68(C).
    51. Tang, Haobo & Zhang, Huan & Guan, Yuzhen & Wang, Hexuan, 2024. "Is human capital risk lower in state-owned enterprises? — A textual analysis based on China's listed company annual reports," Pacific-Basin Finance Journal, Elsevier, vol. 88(C).
    52. Xu, Jian & Liu, Yu & Abdoh, Hussein, 2022. "Foreign ownership and productivity," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 624-642.
    53. Lu, Yiming & Wang, Yu, 2024. "Firms and banks common ownership, economic policy uncertainty, and firms’ R&D investment: Evidence from China," Finance Research Letters, Elsevier, vol. 60(C).
    54. Song, Siwen & Jun, Aelee & Luo, Tianpei & Ma, Shiguang, 2024. "Political legitimacy and CSR reporting: Evidence from non-SOEs in China," Global Finance Journal, Elsevier, vol. 60(C).
    55. Ruiyuan Chen & Sadok El Ghoul & Omrane Guedhami & Chuck C. Y. Kwok & Robert Nash, 2021. "International evidence on state ownership and trade credit: Opportunities and motivations," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(6), pages 1121-1158, August.
    56. Farman Ullah Khan & Junrui Zhang & Nanyan Dong & Muhammad Usman & Sajid Ullah & Shahid Ali, 2021. "Does privatization matter for corporate social responsibility? Evidence from China," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 11(3), pages 497-515, September.
    57. Chen, Xiaoyu & Li, Shan & Sowah, Joseph Sowahfio & Zou, Siqi, 2025. "Soft institutions, hard cash: Societal happiness and corporate cash holdings," International Review of Economics & Finance, Elsevier, vol. 103(C).
    58. Liu, Yu & Xu, Jian, 2022. "Residual state ownership, foreign ownership and firms' financing patterns," Emerging Markets Review, Elsevier, vol. 51(PA).

  42. Boubakri, Narjess & El Ghoul, Sadok & Guedhami, Omrane & Megginson, William L., 2018. "The market value of government ownership," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 44-65.

    Cited by:

    1. Sami Adwan & M. Mostak Ahamed, 2025. "Employee ownership and corporate investment efficiency in Europe," Review of Quantitative Finance and Accounting, Springer, vol. 64(1), pages 191-236, January.
    2. Bernardo Bortolotti & Giacomo Loss & Robert W. Zwieten, 2023. "The times are they a-changin’? Tracking sovereign wealth funds’ sustainable investing," Journal of International Business Policy, Palgrave Macmillan, vol. 6(3), pages 276-305, September.
    3. Srivastava, Pranjal & Saurav, Sumit & Mishra, Abinash, 2025. "Does government ownership differently impact expected left-tail and volatility risk of bank stock? Evidence from options market," Journal of Corporate Finance, Elsevier, vol. 94(C).
    4. Hryckiewicz, Aneta & Kryg, Natalia & Tsomocos, Dimitrios P. & Zadorozhna, Olha, 2025. "Unveiling the power of state activism in times of distress," Economic Analysis and Policy, Elsevier, vol. 86(C), pages 1346-1376.
    5. Khine Kyaw & Steen Thomsen & Sirimon Treepongkaruna, 2022. "Firms' potential for economic sustainability and firm value: The moderating role of blockholders," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(5), pages 884-901, October.
    6. Chaoyan Wang & Yang Tian, 2025. "How much concentration is good for minority shareholders? Evidence from Chinese companies," Journal of Asset Management, Palgrave Macmillan, vol. 26(1), pages 71-82, February.
    7. Holland, Kateryna, 2019. "Government investment in publicly traded firms," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 319-342.
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    16. Benjamin Lynch & Martha O'Hagan‐Luff, 2024. "Relative corporate social performance and cost of equity capital: International evidence," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(3), pages 2882-2910, July.
    17. Vuong, Giang Thi Huong & Nguyen, Phuc Van & Barky, Walid & Nguyen, Manh Huu, 2024. "Stock return volatility and financial distress: Moderating roles of ownership structure, managerial ability, and financial constraints," International Review of Economics & Finance, Elsevier, vol. 91(C), pages 634-652.
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    19. Hail Jung & Seyeong Song & Chang-Keun Song, 2021. "Carbon Emission Regulation, Green Boards, and Corporate Environmental Responsibility," Sustainability, MDPI, vol. 13(8), pages 1-12, April.
    20. Sang Koo Kang & Hee Sub Byun, 2020. "Are Corporate Environmental Responsibility Activities an Efficient Investment or an Agency Cost? Evidence from Korea," Sustainability, MDPI, vol. 12(9), pages 1-22, May.
    21. Ren, Xiaohang & Li, Wenqi & Duan, Kun & Urquhart, Andrew, 2025. "Carbon risk and debt financing: An international perspective," Journal of International Money and Finance, Elsevier, vol. 153(C).
    22. Yamina Chouaibi & Matteo Rossi & Ghazi Zouari, 2021. "The Effect of Corporate Social Responsibility and the Executive Compensation on Implicit Cost of Equity: Evidence from French ESG Data," Sustainability, MDPI, vol. 13(20), pages 1-17, October.
    23. Agoraki, Konstantina K. & Giaka, Maria & Konstantios, Dimitrios & Negkakis, Ioannis, 2024. "The relationship between firm-level climate change exposure, financial integration, cost of capital and investment efficiency," Journal of International Money and Finance, Elsevier, vol. 141(C).
    24. Hongmin Chun & Jaeyon Chu & Yongsuk Yun, 2019. "The Impact of Corporate Charitable Contributions on Audit Hours," Sustainability, MDPI, vol. 11(4), pages 1-12, February.
    25. Yun Zhu & Changzheng Zhang & Teng Wang & Yijin Miao, 2024. "Corporate water risk: A new research hotspot under climate change," Sustainable Development, John Wiley & Sons, Ltd., vol. 32(3), pages 2623-2637, June.
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    27. Wei Peng & Baogui Xin & Yekyung Kwon, 2019. "Optimal Strategies of Product Price, Quality, and Corporate Environmental Responsibility," IJERPH, MDPI, vol. 16(23), pages 1-24, November.
    28. Bilyay-Erdogan, Seda & Danisman, Gamze Ozturk & Demir, Ender, 2024. "ESG performance and investment efficiency: The impact of information asymmetry," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 91(C).
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    30. Fan Xia & Jiaying Chen & Xue Yang & Xiaoliang Li & Bing Zhang, 2023. "Financial constraints and corporate greenwashing strategies in China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(4), pages 1770-1781, July.
    31. Jae Wook Yoo & Yu Jin Chang, 2024. "Domestic vs. Foreign Institutional Investors: Who Improves ESG and Value of Chinese Companies?," Sustainability, MDPI, vol. 16(18), pages 1-16, September.
    32. Mathieu Gomes & Sylvain Marsat & Jonathan Peillex & Guillaume Pijourlet, 2023. "Does religiosity influence corporate greenwashing behavior?," Papers 2312.14515, arXiv.org.
    33. García-Meca, Emma & Martínez-Ferrero, Jennifer & Reverte, Carmelo, 2025. "The impact of European firms’ emissions reduction effectiveness on financial constraints: Evidence from the quintuple helix model perspective," Research in International Business and Finance, Elsevier, vol. 79(C).
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    35. Al-Fakir Al Rabab'a, Eltayyeb & Rashid, Afzalur & Shams, Syed, 2023. "Corporate carbon performance and cost of debt: Evidence from Asia-Pacific countries," International Review of Financial Analysis, Elsevier, vol. 88(C).
    36. Ramzi Benkraiem & Sabri Boubaker & Asif Saeed, 2022. "How does corporate social responsibility engagement affect the information content of stock prices?," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(5), pages 1266-1289, July.
    37. Monia Magnani & Massimo Guidolin & Ian Berk, 2024. "Strong vs. stable: the impact of ESG ratings momentum and their volatility on the cost of equity capital," Journal of Asset Management, Palgrave Macmillan, vol. 25(7), pages 666-699, December.
    38. Kim, Taeyeon & Kim, Hyun-Dong & Park, Kwangwoo, 2020. "CEO inside debt holdings and CSR activities," International Review of Economics & Finance, Elsevier, vol. 70(C), pages 508-529.
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    60. Xiangyuan Ao & Tze San Ong & Boon Heng Teh, 2023. "Corporate Sustainability Development Strategy and Corporate Environmental Governance—The Moderating Role of Corporate Environmental Investments," IJERPH, MDPI, vol. 20(5), pages 1-15, March.
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    Cited by:

    1. Yang, Bin & An, Zhe & Gao, Xin & Li, Donghui, 2023. "Trademarks and the cost of equity capital," Journal of Corporate Finance, Elsevier, vol. 83(C).
    2. Zareie, Mobina & Attig, Najah & El Ghoul, Sadok & Fooladi, Iraj, 2024. "Firm digital transformation and corporate performance: The moderating effect of organizational capital," Finance Research Letters, Elsevier, vol. 61(C).
    3. Jakub Horak & Petr Suler & Jaroslav Kollmann & Jan Marecek, 2020. "Credit Absorption Capacity of Businesses in the Construction Sector of the Czech Republic—Analysis Based on the Difference in Values of EVA Entity and EVA Equity," Sustainability, MDPI, vol. 12(21), pages 1-16, October.
    4. Panta, Humnath & Narayanasamy, Arun & Panta, Ayush, 2023. "Organizational capital and credit ratings," Finance Research Letters, Elsevier, vol. 57(C).
    5. Saxena, Akanksha & Mazumdar, Smita & Seth, Himanshu, 2025. "Value of organization capital: Does market competition and group affiliation matter?," Finance Research Letters, Elsevier, vol. 85(PB).
    6. Charkhchi, Iman & Toscano, Francesca & Tran, Viet, 2025. "The impact of organizational capital on corporate debt maturity structure choices," Economics Letters, Elsevier, vol. 255(C).
    7. Zheng, Chen & Sun, Zhiyue, 2025. "Organisation capital: A key asset for mitigating firm-level climate change exposure," Journal of Contemporary Accounting and Economics, Elsevier, vol. 21(3).
    8. Hasan, Mostafa Monzur & Cheung, Adrian (Wai Kong) & Marwick, Trevor, 2022. "Corporate sexual orientation equality policies and the cost of equity capital," Journal of Behavioral and Experimental Finance, Elsevier, vol. 34(C).
    9. Byzalov, Dmitri & Basu, Sudipta, 2024. "The misuse of regression-based x-Scores as dependent variables," Journal of Accounting and Economics, Elsevier, vol. 77(2).
    10. Zou, Siqi & Li, Shan & Sowah, Joseph Sowahfio, 2025. "Organization capital and trade credit access," Economics Letters, Elsevier, vol. 253(C).
    11. Panta, Humnath & Panta, Ayush, 2023. "Organizational capital and readability of financial reports," Finance Research Letters, Elsevier, vol. 55(PA).
    12. Thompson, Linh, 2025. "Human capital disclosures and institutional ownership," Finance Research Letters, Elsevier, vol. 71(C).
    13. Jang, Soomi & Choi, Heeick & Kim, Hyungtae, 2024. "Managerial ability and cost of equity capital," Advances in accounting, Elsevier, vol. 65(C).
    14. Shen, Carl Hsin-han & Zhang, Hao, 2020. "What's good for you is good for me: The effect of CEO inside debt on the cost of equity," Journal of Corporate Finance, Elsevier, vol. 64(C).

  45. Drobetz, Wolfgang & El Ghoul, Sadok & Guedhami, Omrane & Janzen, Malte, 2018. "Policy uncertainty, investment, and the cost of capital," Journal of Financial Stability, Elsevier, vol. 39(C), pages 28-45.

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    1. Tan, Xueping & Zhong, Yiran & Vivian, Andrew & Geng, Yong & Wang, Ziyi & Zhao, Difei, 2024. "Towards an era of multi-source uncertainty: A systematic and bibliometric analysis," International Review of Financial Analysis, Elsevier, vol. 95(PB).
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  46. Sadok El Ghoul & Omrane Guedhami & Yongtae Kim, 2017. "Country-level institutions, firm value, and the role of corporate social responsibility initiatives," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 48(3), pages 360-385, April.

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    246. Meftah Gerged, Ali & Kuzey, Cemil & Uyar, Ali & Karaman, Abdullah S., 2023. "Does investment stimulate or inhibit CSR transparency? The moderating role of CSR committee, board monitoring and CEO duality," Journal of Business Research, Elsevier, vol. 159(C).
    247. Zhang, Jian & Wang, Ningzhi & Wu, Wenruo & Zhu, Xinyu, 2025. "Tax information and corporate environmental investment," International Review of Financial Analysis, Elsevier, vol. 97(C).
    248. Nazari, Jamal A. & Poursoleyman, Ehsan, 2025. "Corporate social responsibility signalling under external transparency demands," International Review of Financial Analysis, Elsevier, vol. 101(C).
    249. Chang, Yuyuan & Foss, Nicolai J. & Li, Shuping & Xie, Jing, 2024. "Compensation peer effects of corporate social responsibility," Journal of Corporate Finance, Elsevier, vol. 89(C).
    250. Chau, Le & Anh, Le & Duc, Vo, 2025. "Valuing ESG: How financial markets respond to corporate sustainability," International Business Review, Elsevier, vol. 34(3).
    251. Alina Benyaminova & Martin Mathews & Paul Langley & Alison Rieple, 2019. "The impact of changes in stakeholder salience on corporate social responsibility activities in Russian energy firms: A contribution to the divergence/convergence debate," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(6), pages 1222-1234, November.
    252. Francesco Gangi & Dario Salerno & Antonio Meles & Lucia Michela Daniele, 2019. "Do Corporate Social Responsibility and Corporate Governance Influence Intellectual Capital Efficiency?," Sustainability, MDPI, vol. 11(7), pages 1-25, March.
    253. Poursoleyman, Ehsan & Mansourfar, Gholamreza & Rezaee, Zabihollah & Homayoun, Saeid, 2024. "Corporate social responsibility and investment efficiency: The roles of national stakeholder orientation and legal origins," International Review of Economics & Finance, Elsevier, vol. 93(PA), pages 889-911.
    254. Zhang, Dayong & Zhang, Zhiwei & Ji, Qiang & Lucey, Brian & Liu, Jia, 2021. "Board characteristics, external governance and the use of renewable energy: International evidence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 72(C).
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    257. Christian Espinosa-Méndez & Carlos Maquieira & José Tomás Arias, 2024. "ESG performance on the value of family firms: international evidence during Covid-19," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-9, December.
    258. Yuanyuan Huang & Lu Shen & Chuang Zhang, 2022. "Home-country government support, the belt and road initiative, and the foreign performance of Chinese state-owned subsidiaries," Asia Pacific Journal of Management, Springer, vol. 39(3), pages 1023-1049, September.
    259. Boyd, Naomi & Li, Shenru & Wang, He (Helen) & Wang, Xianjue, 2025. "Fiduciary duty and corporate social responsibility: Evidence from corporate opportunity waiver," Journal of Banking & Finance, Elsevier, vol. 173(C).
    260. Wang, Xi & Xie, Huobao & Li, Jingyuan & Liu, Xiaolong, 2025. "The effect of ESG performance on value creation of strategic alliances," Research in International Business and Finance, Elsevier, vol. 79(C).
    261. Mingyi Hung & Yongtae Kim & Siqi Li, 2018. "Political connections and voluntary disclosure: Evidence from around the world," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 49(3), pages 272-302, April.
    262. Naz Sayari & Bill Marcum & Ram Baliga, 2024. "To overstate or not to overstate Corporate Social Responsibility (CSR): What does Bayes tell us about CSR decoupling and firm value?," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 45(1), pages 264-282, January.
    263. Hu, Xiaoxue & Li, Dongxu & Wang, Jingni, 2024. "Green-selecting: Foreign institutional ownership and corporate green practices," Finance Research Letters, Elsevier, vol. 62(PB).

  47. El Ghoul, Sadok & Karoui, Aymen, 2017. "Does corporate social responsibility affect mutual fund performance and flows?," Journal of Banking & Finance, Elsevier, vol. 77(C), pages 53-63.

    Cited by:

    1. Iram Hasan & Shveta Singh & Smita Kashiramka, 2025. "Does Socially Responsible Investing Outperform Conventional Investing? A Cross-Country Perspective," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 32(4), pages 1307-1356, December.
    2. Joliet, Robert & Titova, Yulia, 2018. "Equity SRI funds vacillate between ethics and money: An analysis of the funds’ stock holding decisions," Journal of Banking & Finance, Elsevier, vol. 97(C), pages 70-86.
    3. H. Pierre Hsieh & Imen Tebourbi & Wen‐Min Lu & Nai‐Yu Liu, 2020. "Mutual fund performance: The decision quality and capital magnet efficiencies," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 41(5), pages 861-872, July.
    4. Liaqat, Idrees & Floreani, Josanco & Naseer, Mirza Muhammad, 2026. "ESG performance and Bank stability: The role of national culture and formal institutions," Research in International Business and Finance, Elsevier, vol. 81(C).
    5. Hans B. Christensen & Luzi Hail & Christian Leuz, 2021. "Mandatory CSR and sustainability reporting: economic analysis and literature review," Review of Accounting Studies, Springer, vol. 26(3), pages 1176-1248, September.
    6. Dan Daugaard, 2020. "Emerging new themes in environmental, social and governance investing: a systematic literature review," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(2), pages 1501-1530, June.
    7. Ya Dai & Liang Guo & Steve Liu & Hongxian Zhang, 2023. "Are socially responsible exchange‐traded funds paying off in performance?," International Review of Finance, International Review of Finance Ltd., vol. 23(1), pages 4-26, March.
    8. Juan Carlos Matallín‐Sáez & Amparo Soler‐Domínguez & Salvador Navarro‐Montoliu & Diego Víctor de Mingo‐López, 2022. "Investor behavior and the demand for conventional and socially responsible mutual funds," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(1), pages 46-59, January.
    9. Wang, Hu, 2024. "ESG investment preference and fund vulnerability," International Review of Financial Analysis, Elsevier, vol. 91(C).
    10. Benjamin Lynch & Martha O'Hagan‐Luff, 2024. "Relative corporate social performance and cost of equity capital: International evidence," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(3), pages 2882-2910, July.
    11. Bertrand Candelon & Jean-Baptiste Hasse & Quentin Lajaunie, 2021. "ESG-Washing in the Mutual Funds Industry? From Information Asymmetry to Regulation," Risks, MDPI, vol. 9(11), pages 1-23, November.
    12. Tanaka, Yoshitaka & Managi, Shunsuke, 2023. "Attention-Grabbing ESG," MPRA Paper 116786, University Library of Munich, Germany.
    13. Marszk, Adam & Lechman, Ewa, 2024. "What drives sustainable investing? Adoption determinants of sustainable investing exchange-traded funds in Europe," Structural Change and Economic Dynamics, Elsevier, vol. 69(C), pages 63-82.
    14. Lu Chen & Yueyue Fu & Yujia Liu & Cui Wang, 2023. "The Impact of Logistics Corporate Social Responsibility on Supply Chain Performance: Using Supply Chain Collaboration as an Intermediary Variable," Sustainability, MDPI, vol. 15(12), pages 1-14, June.
    15. Yamamura, Eiji & Managi, Shunsuke & Tsutsui, Yoshiro, 2019. "Male pupils taught by female homeroom teachers show a higher preference for Corporate Social Responsibility in adulthood," Journal of the Japanese and International Economies, Elsevier, vol. 54(C).
    16. Hoang, Lai T. & Wee, Marvin & Yang, Joey Wenling & Yu, Jing, 2025. "Institutional trading and ESG controversies," Journal of Financial Markets, Elsevier, vol. 76(C).
    17. Zehua He & Kexin Hu & Zhongfei Li, 2023. "Drifting from the Sustainable Development Goal: Style Drift in ESG Funds," Sustainability, MDPI, vol. 15(16), pages 1-24, August.
    18. Rocco Ciciretti & Ambrogio Dalò & Giovanni Ferri, 2021. "Herding and Anti-Herding Across ESG Funds," CEIS Research Paper 524, Tor Vergata University, CEIS, revised 05 Nov 2021.
    19. Lapanan, Nicha, 2018. "The investment behavior of socially responsible individual investors," The Quarterly Review of Economics and Finance, Elsevier, vol. 70(C), pages 214-226.
    20. Carmen‐Pilar Marti‐Ballester, 2020. "Examining the behavior of renewable‐energy fund investors," Business Strategy and the Environment, Wiley Blackwell, vol. 29(6), pages 2624-2634, September.
    21. Juan Carlos Matallín-Sáez & Amparo Soler-Domínguez & Diego Víctor Mingo-López, 2021. "On management risk and price in the mutual fund industry: style and performance distribution analysis," Risk Management, Palgrave Macmillan, vol. 23(1), pages 150-171, June.
    22. Tristan Jourde & Arthur Stalla-Bourdillon, 2026. "Environmental preferences and sector valuations," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 162(1), pages 45-85, February.
    23. Carmen‐Pilar Martí‐Ballester, 2023. "Mutual funds and gender equality in portfolio firms: Toward the sustainable development goals," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(2), pages 905-926, March.
    24. Capotă, Laura-Dona & Giuzio, Margherita & Kapadia, Sujit & Salakhova, Dilyara, 2022. "Are ethical and green investment funds more resilient?," Working Paper Series 2747, European Central Bank.
    25. Do, Hung X. & Nguyen, Lily & Nguyen, Nhut H. & Nguyen, Quan M.P., 2022. "LGBT policy, investor trading behavior, and return comovement," Journal of Economic Behavior & Organization, Elsevier, vol. 196(C), pages 457-483.
    26. Naqvi, Bushra & Rizvi, Syed Kumail Abbas & Hasnaoui, Amir & Shao, Xuefeng, 2022. "Going beyond sustainability: The diversification benefits of green energy financial products," Energy Economics, Elsevier, vol. 111(C).
    27. Daugaard, Dan, 2024. "The value of a Principles for Responsible Investing designation: A setting for environmental social and governance natural experiments," Working Papers 2024-03, University of Tasmania, Tasmanian School of Business and Economics.
    28. Nguyen, Huong Giang & Hoang, Khanh & Nguyen, Quan M.P. & Do, Hung Xuan & Nguyen, Duc Khuong, 2024. "Portfolio's weighted political risk and mutual fund performance: A text-based approach," Finance Research Letters, Elsevier, vol. 66(C).
    29. Masayuki KEIDA & Yosuke TAKEDA, 2024. "How Loud is a Soft Voice? Effects of positive screening of ESG performance on the Japanese oil companies," Discussion papers 24002, Research Institute of Economy, Trade and Industry (RIETI).
    30. Vincenzo D'Apice & Giovanni Ferri & Mariantonietta Intonti, 2021. "Sustainable disclosure versus ESG intensity: Is there a cross effect between holding and SRI funds?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(5), pages 1496-1510, September.
    31. Nektarios Gavrilakis & Christos Floros, 2023. "ESG performance, herding behavior and stock market returns: evidence from Europe," Operational Research, Springer, vol. 23(1), pages 1-21, March.
    32. Federica Ielasi & Monica Rossolini, 2019. "Responsible or Thematic? The True Nature of Sustainability-Themed Mutual Funds," Sustainability, MDPI, vol. 11(12), pages 1-17, June.
    33. Jo, Hoje & Kim, Hee-Eun & Sim, Myounghwa, 2022. "Environmental preference, air pollution, and fund flows in China," Pacific-Basin Finance Journal, Elsevier, vol. 72(C).
    34. Benjamin Hübel & Hendrik Scholz, 2020. "Integrating sustainability risks in asset management: the role of ESG exposures and ESG ratings," Journal of Asset Management, Palgrave Macmillan, vol. 21(1), pages 52-69, February.
    35. Fernando Muñoz & María Vargas & Ruth Vicente, 2021. "Style-changing behaviour in the socially responsible mutual fund industry: consequences on financial and sustainable performance," Sustainability Accounting, Management and Policy Journal, Emerald Group Publishing Limited, vol. 12(5), pages 1027-1051, February.
    36. Andreu, Laura & Gimeno, Ruth & Serrano, Miguel, 2023. "Family competition via divergence in the trading of funds," Finance Research Letters, Elsevier, vol. 52(C).
    37. Orlando Gomes, 2020. "Optimal growth under socially responsible investment: a dynamic theoretical model of the trade-off between financial gains and emotional rewards," International Journal of Corporate Social Responsibility, Springer, vol. 5(1), pages 1-17, December.
    38. Murat Yaş & Ahmet Faruk Aysan & Mohamed Eskandar Shah Mohd Rasid, 2022. "Are religious investors financially smart? evidence from equity funds," Journal of Asset Management, Palgrave Macmillan, vol. 23(1), pages 33-45, February.
    39. Tristan Jourde & Arthur Stalla-Bourdillon, 2024. "PEnvironmental Preferences and Sector Valuations," Working papers 964, Banque de France.
    40. Reboredo, Juan C. & Otero, Luis A., 2021. "Are investors aware of climate-related transition risks? Evidence from mutual fund flows," Ecological Economics, Elsevier, vol. 189(C).
    41. Pablo Durán-Santomil & Luis Otero-González & Renato Heitor Correia-Domingues & Juan Carlos Reboredo, 2019. "Does Sustainability Score Impact Mutual Fund Performance?," Sustainability, MDPI, vol. 11(10), pages 1-17, May.
    42. Wang, Hu & Shen, Hong & Li, Shouwei, 2023. "ESG performance and stock price fragility," Finance Research Letters, Elsevier, vol. 56(C).
    43. Roy Cerqueti & Rocco Ciciretti & Ambrogio Dalò & Marco Nicolosi, 2022. "Mitigating Contagion Risk by ESG Investing," Sustainability, MDPI, vol. 14(7), pages 1-13, March.
    44. K. Liagkouras & K. Metaxiotis & G. Tsihrintzis, 2022. "Incorporating environmental and social considerations into the portfolio optimization process," Annals of Operations Research, Springer, vol. 316(2), pages 1493-1518, September.
    45. Døskeland, Trond & Sjuve, André Wattø & Ørpetveit, Andreas, 2025. "Do fees matter? Investor’s sensitivity to active management fees," Journal of Empirical Finance, Elsevier, vol. 81(C).
    46. Konstantinos Petridis & Nikolaos Kiosses & Ioannis Tampakoudis & Fouad Ben Abdelaziz, 2023. "Measuring the efficiency of mutual funds: Does ESG controversies score affect the mutual fund performance during the COVID-19 pandemic?," Operational Research, Springer, vol. 23(3), pages 1-29, September.
    47. Azmi, Wajahat & Mohamad, Shamsher & Shah, Mohamed Eskandar, 2020. "Ethical investments and financial performance: An international evidence," Pacific-Basin Finance Journal, Elsevier, vol. 62(C).
    48. Danisman, Gamze Ozturk & Tarazi, Amine, 2024. "ESG activity and bank lending during financial crises," Journal of Financial Stability, Elsevier, vol. 70(C).
    49. Jun Duanmu & Qiping Huang & Yongjia Li & Garrett A. McBrayer, 2021. "Can hedge funds benefit from corporate social responsibility investment?," The Financial Review, Eastern Finance Association, vol. 56(2), pages 251-278, May.
    50. Bofinger, Yannik & Heyden, Kim J. & Rock, Björn, 2022. "Corporate social responsibility and market efficiency: Evidence from ESG and misvaluation measures," Journal of Banking & Finance, Elsevier, vol. 134(C).
    51. Mirza, Nawazish & Naeem, Muhammad Abubakr & Ha Nguyen, Thi Thu & Arfaoui, Nadia & Oliyide, Johnson A., 2023. "Are sustainable investments interdependent? The international evidence," Economic Modelling, Elsevier, vol. 119(C).
    52. Tang, Tiantian & Guo, Jiahui & Zou, Liping & Luo, Lu, 2025. "ESG fund performance and fund manager trading strategy: Evidence from China," Global Finance Journal, Elsevier, vol. 67(C).
    53. Jayaprada Putrevu & Charilaos Mertzanis & Ilias Kampouris, 2025. "Sustainable investment conditions, venture capital, and new business creation," International Entrepreneurship and Management Journal, Springer, vol. 21(1), pages 1-37, December.
    54. Henriques, Irene & Sadorsky, Perry, 2024. "Do clean energy stocks diversify the risk of FinTech stocks? Connectedness and portfolio implications," Global Finance Journal, Elsevier, vol. 62(C).
    55. C. José García & Begoña Herrero & Francisco Morillas‐Jurado, 2024. "The impact of the environmental, social and governance dimensions of sustainability on firm risk in the hospitality and tourism industry," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(4), pages 2783-2800, July.
    56. Maretno A. Harjoto & Andreas G. F. Hoepner & Marcus A. Nilsson, 2022. "Bondholders’ returns and stakeholders’ interests," Review of Quantitative Finance and Accounting, Springer, vol. 59(4), pages 1271-1301, November.
    57. Z. Barka & Taher Hamza & S. Mrad, 2023. "Corporate ESG Scores and Equity Market Misvaluation: Toward Ethical Investor Behavior," Post-Print hal-04435551, HAL.
    58. John R. Nofsinger & Abhishek Varma, 2023. "Keeping Promises? Mutual Funds’ Investment Objectives and Impact of Carbon Risk Disclosures," Journal of Business Ethics, Springer, vol. 187(3), pages 493-516, October.
    59. Yushen Kong & Micheal Owusu-Akomeah & Henry Asante Antwi & Xuhua Hu & Patrick Acheampong, 2019. "Evaluation of the robusticity of mutual fund performance in Ghana using Enhanced Resilient Backpropagation Neural Network (ERBPNN) and Fast Adaptive Neural Network Classifier (FANNC)," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 5(1), pages 1-12, December.
    60. Muñoz, Fernando & Ortiz, Cristina & Vicente, Luis, 2022. "Ethical window dressing: SRI funds are as good as their word," Finance Research Letters, Elsevier, vol. 49(C).
    61. Brahim Gaies, 2023. "Banking sector openness, a path to social responsibility? Evidence from Southern European banks," Economics and Business Letters, Oviedo University Press, vol. 12(4), pages 284-295.
    62. Chiaramonte, Laura & Dreassi, Alberto & Girardone, Claudia & Piserà, Stefano, 2024. "Socially responsible banking: Weathering the Covid-19 storm," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 95(C).
    63. Cheng, Xin & (Helen) Wang, He & Wang, Xianjue, 2022. "Common institutional ownership and corporate social responsibility," Journal of Banking & Finance, Elsevier, vol. 136(C).
    64. Alper Gormus & Saban Nazlioglu & Elif Gormus, 2024. "ESG impact on oil and natural gas financialization through price transmission," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 48(3), pages 685-707, September.
    65. Otero-González, Luis & Leite, Paulo & Durán-Santomil, Pablo & Domingues, Renato, 2022. "Morningstar Star ratings and the performance, risk and flows of European bond mutual funds," International Review of Economics & Finance, Elsevier, vol. 82(C), pages 479-496.
    66. Zhichuan Frank Li & Saurin Patel & Srikanth Ramani, 2021. "The Role of Mutual Funds in Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 174(3), pages 715-737, December.
    67. Beatrice Boumda & Darren Duxbury & Cristina Ortiz & Luis Vicente, 2021. "Do Socially Responsible Investment Funds Sell Losses and Ride Gains? The Disposition Effect in SRI Funds," Sustainability, MDPI, vol. 13(15), pages 1-14, July.
    68. Hooi Hooi Lean & Fabio Pizzutilo, 2021. "Performances and risk of socially responsible investments across regions during crisis," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(3), pages 3556-3568, July.
    69. Sitikantha Parida & Zhihong Wang, 2018. "Financial Crisis and Corporate Social Responsible Mutual Fund Flows," IJFS, MDPI, vol. 6(1), pages 1-19, January.
    70. Jiang, Wei & Yang, Wenbin, 2024. "ESG disclosure and corporate cost stickiness: Evidence from supply-chain relationships," Economics Letters, Elsevier, vol. 238(C).
    71. Gaies, Brahim & Jahmane, Abderrahmane, 2022. "Corporate social responsibility, financial globalization and bank soundness in Europe – Novel evidence from a GMM panel VAR approach," Finance Research Letters, Elsevier, vol. 47(PB).
    72. Manuel Ammann & Christopher Bauer & Sebastian Fischer & Philipp Müller, 2019. "The impact of the Morningstar Sustainability Rating on mutual fund flows," European Financial Management, European Financial Management Association, vol. 25(3), pages 520-553, June.
    73. Basher, Syed Abul & Sadorsky, Perry, 2024. "Do climate change risks affect the systemic risk between the stocks of clean energy, electric vehicles, and critical minerals? Analysis under changing market conditions," Energy Economics, Elsevier, vol. 138(C).
    74. Ho, Thang, 2022. "Climate change news sensitivity and mutual fund performance," International Review of Financial Analysis, Elsevier, vol. 83(C).
    75. Ghoul, Sadok El & Karoui, Aymen, 2022. "Fund performance and social responsibility: New evidence using social active share and social tracking error," Journal of Banking & Finance, Elsevier, vol. 143(C).
    76. Wang, Hu, 2024. "Does carbon risk exposure make funds more vulnerable?," Journal of Empirical Finance, Elsevier, vol. 78(C).
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  48. Chen, Ruiyuan & El Ghoul, Sadok & Guedhami, Omrane & Wang, He, 2017. "Do state and foreign ownership affect investment efficiency? Evidence from privatizations," Journal of Corporate Finance, Elsevier, vol. 42(C), pages 408-421.

    Cited by:

    1. Hao, Jing & Ren, Xingzi & Bi, Huining & Wu, Ji (George), 2025. "How does digital transformation predict the investment cycle in family enterprises?," Technological Forecasting and Social Change, Elsevier, vol. 210(C).
    2. Attig, Najah & Chen, Ruiyuan & El Ghoul, Sadok & Guedhami, Omrane & Kwok, Chuck & Pittman, Jeffrey, 2020. "Are insiders equal? Evidence from earnings management in closely held East Asian firms," Research in International Business and Finance, Elsevier, vol. 54(C).
    3. Lin Liao & Yukun Pan & Daifei (Troy) Yao, 2023. "Capital market liberalisation and voluntary corporate social responsibility disclosure: Evidence from a quasi‐natural experiment in China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(2), pages 2677-2715, June.
    4. Xuan Li & Chi Zhang & Wenliang Gao & Yanli Geng & Weizhang Sun, 2024. "Foreign ownership, passive‐learning knowledge spillovers, and corporate social responsibility reporting in China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(1), pages 133-152, January.
    5. Yong Ma & Yiqing Jiang, 2024. "Digital financial inclusion and corporate investment efficiency: Evidence from small‐ and medium‐sized enterprises in China," Review of Development Economics, Wiley Blackwell, vol. 28(3), pages 929-957, August.
    6. Huang, Ke & Zhu, Ying, 2022. "China’s secondary privatization and corporate investment efficiency," Research in International Business and Finance, Elsevier, vol. 61(C).
    7. Cheng Yin & Xin Cheng & Yinan Yang & Dan Palmon, 2021. "Do Corporate Frauds Distort Suppliers’ Investment Decisions?," Journal of Business Ethics, Springer, vol. 172(1), pages 115-132, August.
    8. Fang, Yuanli & Hu, Maggie & Yang, Qingsen, 2018. "Do executives benefit from shareholder disputes? Evidence from multiple large shareholders in Chinese listed firms," Journal of Corporate Finance, Elsevier, vol. 51(C), pages 275-315.
    9. Sami Adwan & M. Mostak Ahamed, 2025. "Employee ownership and corporate investment efficiency in Europe," Review of Quantitative Finance and Accounting, Springer, vol. 64(1), pages 191-236, January.
    10. Yu, Ziqin & Xiao, Xiang & Ge, Ge, 2025. "Shadow banking regulation and firm investment efficiency: Evidence from China's new regulation of capital management," Research in International Business and Finance, Elsevier, vol. 77(PB).
    11. Zhongbo Jing & Shiyu Lu & Yang Zhao & Jun Zhou, 2023. "Economic policy uncertainty, corporate investment decisions and stock price crash risk: Evidence from China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(S1), pages 1477-1502, April.
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    3. Breuer, Wolfgang & Ghufran, Bushra & Salzmann, Astrid Juliane, 2018. "National culture, managerial preferences, and takeover performance," International Business Review, Elsevier, vol. 27(6), pages 1270-1289.
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    11. Iftekhar Hasan & Krzysztof Jackowicz & Oskar Kowalewski & Łukasz Kozłowski, 2021. "Cultural values of parent bank board members and lending by foreign subsidiaries: The moderating role of personal traits," Working Papers 2021-ACF-09, IESEG School of Management.
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    115. Kim, Jongsoo & Kim, Yeongsu Anthony & Wei, Li-Qun & Zhou, Gaoguang, 2025. "Female entrepreneurs and international entry mode choice: Evidence from entrepreneurial firms in China," Journal of World Business, Elsevier, vol. 60(5).
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    120. Silvia Ayuso & Francisco Ernesto Navarrete‐Báez, 2018. "How Does Entrepreneurial and International Orientation Influence SMEs' Commitment to Sustainable Development? Empirical Evidence from Spain and Mexico," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 25(1), pages 80-94, January.
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    2. Minghui Yang & Yan Wang & Lu Bai & Petra Maresova, 2023. "Corporate social responsibility, family involvement, and stock price crash risk," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(3), pages 1204-1225, May.
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    9. Tsang, Albert & Wang, Kun Tracy & Liu, Simeng & Yu, Li, 2021. "Integrating corporate social responsibility criteria into executive compensation and firm innovation: International evidence," Journal of Corporate Finance, Elsevier, vol. 70(C).
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    19. Shu, Pei-Gi & Chiang, Sue-Jane, 2020. "The impact of corporate governance on corporate social performance: Cases from listed firms in Taiwan," Pacific-Basin Finance Journal, Elsevier, vol. 61(C).
    20. Yamamura, Eiji & Managi, Shunsuke & Tsutsui, Yoshiro, 2019. "Male pupils taught by female homeroom teachers show a higher preference for Corporate Social Responsibility in adulthood," Journal of the Japanese and International Economies, Elsevier, vol. 54(C).
    21. Herbell, Kayla & Albright, Nathaniel & Berger, Sophie & Stanek, Charis & Helsabeck, Nathan P., 2025. "Identifying family engagement priorities in youth residential treatment settings: A group concept mapping study," Children and Youth Services Review, Elsevier, vol. 168(C).
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    24. Simon Döring & Wolfgang Drobetz & Sadok El Ghoul & Omrane Guedhami & Henning Schröder, 2023. "Foreign Institutional Investors, Legal Origin, and Corporate Greenhouse Gas Emissions Disclosure," Journal of Business Ethics, Springer, vol. 182(4), pages 903-932, February.
    25. Xie, Peijun & Wang, Jian & Tang, Shiyi & Shahzadi, Irum & Bilan, Yuriy, 2025. "How does intergenerational transmission affect green innovation? Evidence from Chinese family businesses," Structural Change and Economic Dynamics, Elsevier, vol. 73(C), pages 158-169.
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    34. Shanshan Liu & Muhammad Zulfiqar & Aftab Ahmed & Muhammad Zia Aslam, 2025. "Unlocking the influence of unique family firm types on eco-friendly governance and green technology innovation: moderating role of ISO certificates," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 12(1), pages 1-15, December.
    35. Beatriz Forés & José María Fernández-Yáñez & Alba Puig-Denia & Montserrat Boronat-Navarro, 2022. "Unveiling the Direct Effects of Family Firm Heterogeneity on Environmental Performance," Sustainability, MDPI, vol. 14(16), pages 1-20, August.
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    38. Seyed Alireza Athari & Chafic Saliba & Elsa Abboud & Nourhan El-Bayaa, 2024. "Examining the Quadratic Impact of Sovereign Environmental, Social, and Governance Practices on Firms’ Profitability: New Insights from the Financial Industry in Gulf Cooperation Council Countries," Sustainability, MDPI, vol. 16(7), pages 1-26, March.
    39. Madden, Laura & McMillan, Amy & Harris, Oneil, 2020. "Drivers of selectivity in family firms: Understanding the impact of age and ownership on CSR," Journal of Family Business Strategy, Elsevier, vol. 11(2).
    40. Tenuta, Paolo & Cambrea, Domenico Rocco, 2022. "Corporate social responsibility and corporate financial performance: The role of executive directors in family firms," Finance Research Letters, Elsevier, vol. 50(C).
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    72. Wang, Zhiwen, 2025. "The impact of common ownership between banks and firms on corporate ESG performance: Evidence from China," Emerging Markets Review, Elsevier, vol. 69(C).
    73. Moses Elaigwu & Salau Olarinoye Abdulmalik & Abdelkader Alghorbany & Ayoib Che‐Ahmad, 2024. "Sustainability reporting quality in Malaysia: The intricacy of family controlled and politically connected firms," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(5), pages 4190-4210, September.
    74. Matteo Rossi & Jamel Chouaibi & Salim Chouaibi & Wafa Jilani & Yamina Chouaibi, 2021. "Does a Board Characteristic Moderate the Relationship between CSR Practices and Financial Performance? Evidence from European ESG Firms," JRFM, MDPI, vol. 14(8), pages 1-15, August.
    75. Gillan, Stuart L. & Koch, Andrew & Starks, Laura T., 2021. "Firms and social responsibility: A review of ESG and CSR research in corporate finance," Journal of Corporate Finance, Elsevier, vol. 66(C).
    76. Carla Curado & António Mota, 2021. "A Systematic Literature Review on Sustainability in Family Firms," Sustainability, MDPI, vol. 13(7), pages 1-17, March.
    77. Ma, Liangbo, 2023. "Corporate social responsibility reporting in family firms: Evidence from China," Journal of Behavioral and Experimental Finance, Elsevier, vol. 37(C).
    78. Qian, Shuitu & Yu, Wenzhe, 2024. "Green finance and environmental, social, and governance performance," International Review of Economics & Finance, Elsevier, vol. 89(PA), pages 1185-1202.
    79. Samet, Marwa & Jarboui, Anis, 2017. "How does corporate social responsibility contribute to investment efficiency?," Journal of Multinational Financial Management, Elsevier, vol. 40(C), pages 33-46.
    80. Dong, Weijia & Dong, Xinyang & Lv, Xin, 2022. "How does ownership structure affect corporate environmental responsibility? Evidence from the manufacturing sector in China," Energy Economics, Elsevier, vol. 112(C).
    81. Alberto Citterio & Rossella Locatelli & Andrea Uselli, 2024. "Mapping Corporate Social Responsibility in Family Firms: A Bibliometric Review across Countries," Sustainability, MDPI, vol. 16(2), pages 1-21, January.
    82. Francesco Testa & Olivier Boiral & Iñaki Heras‐Saizarbitoria, 2018. "Improving CSR performance by hard and soft means: The role of organizational citizenship behaviours and the internalization of CSR standards," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 25(5), pages 853-865, September.
    83. Khan, Majid & Lockhart, James & Bathurst, Ralph, 2021. "The institutional analysis of CSR: Learnings from an emerging country," Emerging Markets Review, Elsevier, vol. 46(C).
    84. Richard W. Carney & Sadok El Ghoul & Omrane Guedhami & Jane W. Lu & He Wang, 2022. "Political corporate social responsibility: The role of deliberative capacity," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(8), pages 1766-1784, October.
    85. Mônica Cavalcanti Sá de Abreu & Romulo Alves Soares & Victor Daniel‐Vasconcelos & Vicente Lima Crisóstomo, 2023. "Does board diversity encourage an environmental policy focused on resource use, emission reduction and innovation? The case of companies in Latin America," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(3), pages 1161-1176, May.
    86. Laura Pütz & Sabrina Schell & Arndt Werner, 2023. "Openness to knowledge: does corporate social responsibility mediate the relationship between familiness and absorptive capacity?," Small Business Economics, Springer, vol. 60(4), pages 1449-1482, April.
    87. Abeysekera, Amal P. & Fernando, Chitru S., 2020. "Corporate social responsibility versus corporate shareholder responsibility: A family firm perspective," Journal of Corporate Finance, Elsevier, vol. 61(C).
    88. Lolita Shaila P. Safaee Chalkasra & John Paolo R. Rivera & Dynah Avigail T. Basuil, 2019. "A Review of Theoretical Perspectives on CSR Among Family Enterprises," Vision, , vol. 23(3), pages 225-233, September.
    89. Chourou, Lamia & Grira, Jocelyn & Saadi, Samir, 2021. "Does empathy matter in corporate social responsibility? Evidence from emerging markets," Emerging Markets Review, Elsevier, vol. 46(C).
    90. Christoph Stock & Laura Pütz & Sabrina Schell & Arndt Werner, 2024. "Corporate Social Responsibility in Family Firms: Status and Future Directions of a Research Field," Journal of Business Ethics, Springer, vol. 190(1), pages 199-259, February.
    91. Meier, Olivier & Schier, Guillaume, 2022. "Lone founders, family founders, and corporate social responsibility," Journal of Business Research, Elsevier, vol. 148(C), pages 149-160.
    92. Meng-Ju Wu & Chung-Hsien Hung & Yuan Chang, 2026. "Directors’ and Officers’ Liability Insurance, Directors’ and Managerial Overconfidence, and ESG Performance," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 16(1), pages 1-5.
    93. Boubakri, Narjess & Durnev, Art & Oliveira dos Santos, Igor, 2025. "State ownership and financial reporting quality: Evidence from natural advantage industries," Journal of Corporate Finance, Elsevier, vol. 91(C).
    94. Al-Mamun, Abdullah & Seamer, Michael, 2021. "Board of director attributes and CSR engagement in emerging economy firms: Evidence from across Asia," Emerging Markets Review, Elsevier, vol. 46(C).
    95. Boubakri, Narjess & Guedhami, Omrane & Kwok, Chuck C.Y. & Wang, He (Helen), 2019. "Is privatization a socially responsible reform?," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 129-151.
    96. Han-Hsing Lee & Woan-lih Liang & Quynh-Nhu Tran & Quang-Thai Truong, 2024. "Do Old Board Directors Promote Corporate Social Responsibility?," Journal of Business Ethics, Springer, vol. 195(1), pages 67-93, November.
    97. Wang, Xiaolin & Ye, Yingying, 2024. "Environmental protection tax and firms’ ESG investment: Evidence from China," Economic Modelling, Elsevier, vol. 131(C).
    98. Sang‐Joon Kim & Jongwan Bae & SoHyeon Kang, 2024. "The cross‐cutting pursuit of family values: When and how do family firms engage in corporate environmental responsibility," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(4), pages 2749-2769, July.
    99. Jia, Jing & Li, Zhongtian, 2020. "Does external uncertainty matter in corporate sustainability performance?," Journal of Corporate Finance, Elsevier, vol. 65(C).
    100. Karim Ben Khediri, 2021. "CSR and investment efficiency in Western European countries," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(6), pages 1769-1784, November.
    101. Ayoub, Mahmoud & Qadan, Mahmoud, 2023. "Does supporting Ukraine pay well? The performance of companies that suspended their business in Russia," Research in International Business and Finance, Elsevier, vol. 66(C).
    102. Sebastian Utz, 2018. "Over‐investment or risk mitigation? Corporate social responsibility in Asia‐Pacific, Europe, Japan, and the United States," Review of Financial Economics, John Wiley & Sons, vol. 36(2), pages 167-193, April.
    103. Yuan Chang & Kun-Tsung Wu & Shu-Hui Lin & Chia-Jung Lin, 2024. "Board gender diversity and corporate social responsibility," International Journal of Corporate Social Responsibility, Springer, vol. 9(1), pages 1-29, December.
    104. Sreevas Sahasranamam & Bindu Arya & Mukesh Sud, 2020. "Ownership structure and corporate social responsibility in an emerging market," Asia Pacific Journal of Management, Springer, vol. 37(4), pages 1165-1192, December.
    105. Garanina, Tatiana & Aray, Yulia, 2021. "Enhancing CSR disclosure through foreign ownership, foreign board members, and cross-listing: Does it work in Russian context?," Emerging Markets Review, Elsevier, vol. 46(C).
    106. Ari Kim & Youkyoung Lee, 2018. "Family firms and corporate social performance: evidence from Korean firms," Asia Pacific Business Review, Taylor & Francis Journals, vol. 24(5), pages 693-713, October.
    107. Kamran Ali & Hafiz Muhammad Arslan & Muhammad Mubeen & Hafiz Azeem & Zhao Zhen-Yu & Jiang Yushi & Miao Miao, 2025. "From reporting to responsibility: investigating the influence of sustainability disclosure on earnings management," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 27(12), pages 30431-30464, December.
    108. Jiang, Fuxiu & Pei, Mingqi & Cai, Yiqian & Zheng, Xiaojia, 2025. "Pricing family leadership: Evidence from audit fees," Pacific-Basin Finance Journal, Elsevier, vol. 90(C).
    109. Bita Mashayekhi & Kaveh Asiaei & Zabihollah Rezaee & Amin Jahangard & Milad Samavat & Saeid Homayoun, 2024. "The relative importance of ESG pillars: A two‐step machine learning and analytical framework," Sustainable Development, John Wiley & Sons, Ltd., vol. 32(5), pages 5404-5420, October.
    110. Hossain, Ashrafee T. & Masum, Abdullah-Al, 2022. "Does corporate social responsibility help mitigate firm-level climate change risk?," Finance Research Letters, Elsevier, vol. 47(PB).
    111. Won-Yong Oh & Hojae Ree & Young Kyun Chang & Igor Postuła, 2023. "Trees in the Forest: How Do Family Owners Make CSR Decisions in Business Groups?," Journal of Business Ethics, Springer, vol. 187(4), pages 759-780, November.
    112. Jin, Xianzhe & Li, Jialong & Wang, Yefeng & Wang, Yuan, 2025. "Substitutes or complements? Use of trade credit and bank credit by family SMEs," The British Accounting Review, Elsevier, vol. 57(4).
    113. Xiang, Dong & Chen, Jiakui & Tripe, David & Zhang, Ning, 2019. "Family firms, sustainable innovation and financing cost: Evidence from Chinese hi-tech small and medium-sized enterprises," Technological Forecasting and Social Change, Elsevier, vol. 144(C), pages 499-511.
    114. Hossain, Ashrafee Tanvir & Kryzanowski, Lawrence, 2021. "Political corruption and Corporate Social Responsibility (CSR)," Journal of Behavioral and Experimental Finance, Elsevier, vol. 31(C).
    115. Huang, Wei & Luo, Yan & Wang, Xiaohuan & Xiao, Lifu, 2022. "Controlling shareholder pledging and corporate ESG behavior," Research in International Business and Finance, Elsevier, vol. 61(C).
    116. Kowalik, Elena, 2023. "Ethical Problems in Family Firms," Junior Management Science (JUMS), Junior Management Science e. V., vol. 8(2), pages 431-452.
    117. Doucet, Pablo & Requejo, Ignacio, 2022. "Financing constraints and growth of private family firms: Evidence from different legal origins," Finance Research Letters, Elsevier, vol. 44(C).
    118. Zhang, Junru & Zhang, Zhaoyong, 2021. "CSR, Media and Stock Illiquidity: Evidence from Chinese Listed Financial Firms," Finance Research Letters, Elsevier, vol. 41(C).
    119. Wan Nordin Wan-Hussin & Ameen Qasem & Norhani Aripin & Mohd Shazwan Mohd Ariffin, 2021. "Corporate Responsibility Disclosure, Information Environment and Analysts’ Recommendations: Evidence from Malaysia," Sustainability, MDPI, vol. 13(6), pages 1-27, March.
    120. Abebe, Michael A. & Acharya, Keshab & Kroll, Mark J., 2025. "It’s time to speak up! investor reaction to CEO sociopolitical activism," Journal of Business Research, Elsevier, vol. 186(C).
    121. Shingo Yoshida & Hironori Yagi, 2023. "Effects of Sustainability Practices on Farm Continuity in Urban Agriculture: From the Creating Shared Value Perspective," Sustainability, MDPI, vol. 15(21), pages 1-20, October.
    122. Zhu, Hui & Wagner, Eva, 2024. "Is corporate social responsibility a matter of trust? A cross-country investigation," International Review of Financial Analysis, Elsevier, vol. 93(C).
    123. Yong Qin & Zeshui Xu & Xinxin Wang & Marinko Škare, 2021. "Are family firms in the eyes of economic policy?," International Entrepreneurship and Management Journal, Springer, vol. 17(3), pages 1233-1259, September.
    124. Boyd, Naomi & Li, Shenru & Wang, He (Helen) & Wang, Xianjue, 2025. "Fiduciary duty and corporate social responsibility: Evidence from corporate opportunity waiver," Journal of Banking & Finance, Elsevier, vol. 173(C).
    125. Régis Y. Chenavaz & Alexandra Couston & Stéphanie Heichelbech & Isabelle Pignatel & Stanko Dimitrov, 2023. "Corporate Social Responsibility and Entrepreneurial Ventures: A Conceptual Framework and Research Agenda," Sustainability, MDPI, vol. 15(11), pages 1-30, May.

  53. Sadok El Ghoul & Omrane Guedhami & Chuck C. Y. Kwok & Xiaolan Zheng, 2016. "Collectivism and Corruption in Commercial Loan Production: How to Break the Curse?," Journal of Business Ethics, Springer, vol. 139(2), pages 225-250, December.

    Cited by:

    1. Zhang, John Fan & So, Jacky Yuk-chow, 2024. "The effect of corruption exposure on the ESG performance of multinational firms11We greatly appreciate the valuable feedback from the editor Hui Guo. John Fan Zhang is an assistant professor and Jacky Yuk-chow So is the Chair Professor, both authors ," Pacific-Basin Finance Journal, Elsevier, vol. 86(C).
    2. Hoang, Cong Huan & Ly, Kim Cuong & Xiao, Qin & Zhang, Xuan, 2023. "Does national culture impact trade credit provision of SMEs?," Economic Modelling, Elsevier, vol. 124(C).
    3. Simon Döring & Wolfgang Drobetz & Sadok El Ghoul & Omrane Guedhami & Henning Schröder, 2023. "Foreign Institutional Investors, Legal Origin, and Corporate Greenhouse Gas Emissions Disclosure," Journal of Business Ethics, Springer, vol. 182(4), pages 903-932, February.
    4. Xiong, Hao & Hou, Fei & Li, Hanwen & Wang, Huabing, 2020. "Does rice farming shape audit quality: Evidence from signing auditors level analysis," Economic Modelling, Elsevier, vol. 91(C), pages 403-420.
    5. Theodora Bermpei & Antonios Nikolaos Kalyvas & Leone Leonida, 2021. "Local Public Corruption and Bank Lending Activity in the United States," Journal of Business Ethics, Springer, vol. 171(1), pages 73-98, June.
    6. John (Jianqiu) Bai & Chenguang Shang & Chi Wan & Yijia Eddie Zhao, 2022. "Social Capital and Individual Ethics: Evidence from Financial Adviser Misconduct," Journal of Business Ethics, Springer, vol. 181(2), pages 495-518, November.
    7. Bertrand, Jérémie & Klein, Paul-Olivier & Pasiouras, Fotios, 2024. "National culture of secrecy and firms’ access to credit," Journal of Banking & Finance, Elsevier, vol. 168(C).
    8. Fotios Pasiouras & Elie Bouri & David Roubaud & Emilios Galariotis, 2021. "Culture and Multiple Firm–Bank Relationships: A Matter of Secrecy and Trust?," Journal of Business Ethics, Springer, vol. 174(1), pages 221-249, November.
    9. Boubakri, Narjess & Cao, Zhongyu & El Ghoul, Sadok & Guedhami, Omrane & Li, Xinming, 2023. "National culture and bank liquidity creation," Journal of Financial Stability, Elsevier, vol. 64(C).
    10. Zhang, Xiaoliang & Wang, Qilin & Wang, Xin, 2025. "Unveiling the bright side of rice-farming culture in shaping innovation: Evidence from Chinese listed firms," The North American Journal of Economics and Finance, Elsevier, vol. 80(C).
    11. Geng Niu & Yang Zhou & Weijie Lu & Hongwu Gan, 2022. "Religiosity and corruption in bank lending," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(9-10), pages 1957-1983, October.
    12. Bermpei, Theodora & Degl’Innocenti, Marta & Kalyvas, Antonios Nikolaos & Zhou, Si, 2023. "Lender individualism and monitoring: Evidence from syndicated loans," Journal of Financial Stability, Elsevier, vol. 66(C).
    13. Wang, Jianxin & Huang, Cailing & Xu, Lin & Zhang, Junhuan, 2023. "Drinking into friends: Alcohol drinking culture and CEO social connections," Journal of Economic Behavior & Organization, Elsevier, vol. 212(C), pages 982-995.
    14. Quang Duy Luong & Duc Hong Vo & Chi Minh Ho, 2024. "Chief Executive Officer's national culture and bank risk‐taking behavior: International evidence," Scottish Journal of Political Economy, Scottish Economic Society, vol. 71(3), pages 492-513, July.
    15. Chrysovalantis Gaganis & Fotios Pasiouras & Menelaos Tasiou, 2024. "Corruption in Bank Lending: The Role of Culturally Endorsed Leadership Prototypes," Journal of Business Ethics, Springer, vol. 193(1), pages 193-216, August.
    16. Song, Siwen & Jun, Aelee & Luo, Tianpei & Ma, Shiguang, 2024. "Political legitimacy and CSR reporting: Evidence from non-SOEs in China," Global Finance Journal, Elsevier, vol. 60(C).
    17. Mirzaei, Ali & Pasiouras, Fotios & Samet, Anis, 2021. "State ownership, macroprudential policies, and bank lending," Journal of International Money and Finance, Elsevier, vol. 117(C).
    18. Pham, Tho & Talavera, Oleksandr, 2018. "Discrimination, Social Capital, and Financial Constraints: The Case of Viet Nam," World Development, Elsevier, vol. 102(C), pages 228-242.

  54. Sadok El Ghoul & Omrane Guedhami & Chuck Kwok & Liang Shao, 2016. "National Culture and Profit Reinvestment: Evidence from Small and Medium-Sized Enterprises," Financial Management, Financial Management Association International, vol. 45(1), pages 37-65, March.

    Cited by:

    1. Duan, Yuejiao & Guedhami, Omrane & Li, Xinming & Zhao, Daxuan, 2024. "Individualism and bank financial structure similarity," Journal of International Money and Finance, Elsevier, vol. 148(C).
    2. Franklin Allen & Meijun Qian, 2025. "Alternative finance in the international business context: a review and future research," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 56(1), pages 43-61, February.
    3. Labidi, Chiraz & Laribi, Dorra & Ureche-Rangau, Loredana, 2021. "National culture and socially responsible fund flows," Emerging Markets Review, Elsevier, vol. 46(C).
    4. Douglas Cumming & Lars Hornuf & Moein Karami & Denis Schweizer, 2023. "Disentangling Crowdfunding from Fraudfunding," Journal of Business Ethics, Springer, vol. 182(4), pages 1103-1128, February.
    5. Nistor, Simona & Fărcaș, Ioana Georgiana, 2025. "Does national culture affect macroprudential policy? An international investigation of regulatory behavior on macroprudential interventions," Journal of Behavioral and Experimental Finance, Elsevier, vol. 45(C).
    6. Hoang, Cong Huan & Ly, Kim Cuong & Xiao, Qin & Zhang, Xuan, 2023. "Does national culture impact trade credit provision of SMEs?," Economic Modelling, Elsevier, vol. 124(C).
    7. Carney, Richard W. & El Ghoul, Sadok & Guedhami, Omrane & Wang, He (Helen), 2024. "Geopolitical risk and the cost of capital in emerging economies," Emerging Markets Review, Elsevier, vol. 61(C).
    8. Chui, Andy C.W. & Li, Xiao & Saffar, Walid, 2021. "National culture and the choice between bank debt and public debt," Pacific-Basin Finance Journal, Elsevier, vol. 70(C).
    9. El Ghoul, Sadok & Zheng, Xiaolan, 2016. "Trade credit provision and national culture," Journal of Corporate Finance, Elsevier, vol. 41(C), pages 475-501.
    10. Haifeng Hu & Minjing Qi, 2022. "New Evidence on National Culture and Corporate Financing: Does Institutional Quality Matter?," Sustainability, MDPI, vol. 14(19), pages 1-24, October.
    11. Gaganis, Chrysovalantis & Pasiouras, Fotios & Voulgari, Fotini, 2019. "Culture, business environment and SMEs' profitability: Evidence from European Countries," Economic Modelling, Elsevier, vol. 78(C), pages 275-292.
    12. Wellalage, Nirosha Hewa & Reddy, Krishna, 2020. "Determinants of profit reinvestment undertaken by SMEs in the small island countries," Global Finance Journal, Elsevier, vol. 43(C).
    13. Dak-Adzaklo, Cephas Simon Peter & Adza, Solomon Wise Dodzidenu & Asamoah, Joseph Maxwell & Tah, Pascar Tagwan, 2025. "Societal secrecy and corporate debt financing choice," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 103(C).

  55. El Ghoul, Sadok & Guedhami, Omrane & Pittman, Jeffrey, 2016. "Cross-country evidence on the importance of Big Four auditors to equity pricing: The mediating role of legal institutions," Accounting, Organizations and Society, Elsevier, vol. 54(C), pages 60-81.

    Cited by:

    1. Cheng, Feiyang & Chiao, Chaoshin & Fang, Zhenming & Wang, Chunfeng & Yao, Shouyu, 2020. "Raising short-term debt for long-term investment and stock price crash risk: Evidence from China," Finance Research Letters, Elsevier, vol. 33(C).
    2. Ramzi Benkraiem & Safa Gaaya & Faten Lakhal, 2020. "Cross-Country Evidence on Earnings Quality and Corporate Tax Avoidance: The Moderating Role of Legal Institutions," Economics Bulletin, AccessEcon, vol. 40(2), pages 1714-1726:.
    3. Viswanathan Nagarajan & Prateek Sharma, 2021. "Firm internationalization and long‐term impact of the Covid‐19 pandemic," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(6), pages 1477-1491, September.
    4. Lisic, Ling Lei & Pittman, Jeffrey & Seidel, Timothy A. & Zimmerman, Aleksandra “Ally” B., 2022. "You can't get there from here: The influence of an audit partner's prior non-public accounting experience on audit outcomes," Accounting, Organizations and Society, Elsevier, vol. 100(C).
    5. Areneke, Geofry & Adegbite, Emmanuel & Tunyi, Abongeh, 2022. "Transfer of corporate governance practices into weak emerging market environments by foreign institutional investors," International Business Review, Elsevier, vol. 31(5).
    6. Shouyu Yao & Zhuoqun Wang & Mengyue Sun & Jing Liao & Feiyang Cheng, 2020. "Top executives’ early‐life experience and financial disclosure quality: impact from the Great Chinese Famine," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(5), pages 4757-4793, December.
    7. Ji, Jiao & Peng, Hongfeng & Sun, Hanwen & Xu, Haofeng, 2021. "Board tenure diversity, culture and firm risk: Cross-country evidence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 70(C).
    8. Han, Yuling & Boubaker, Sabri & Li, Wanfu & Wang, Yu, 2024. "How does directors' and officers' liability insurance affect green innovation? Evidence from China," International Review of Economics & Finance, Elsevier, vol. 94(C).
    9. Krismiaji & Handayani & Sumayyah, 2023. "Audit Quality, Board Governance and Real Earnings Management – Indonesian Evidence," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 4(8), pages 64-73, August.
    10. Leif Atle Beisland & Roy Mersland & Øystein Strøm, 2018. "Use of Big Four auditors and fund raising: evidence from developing and emerging markets," Post-Print hal-05221012, HAL.
    11. Zhang, Xuejiao & Huang, Shoufeng & Li, Wanfu & Wang, Yu, 2023. "Directors' and officers' liability insurance, environmental regulation and firms' envi ronmental responsibility," Ecological Economics, Elsevier, vol. 208(C).
    12. Saad, Mohsen & Samet, Anis, 2017. "Liquidity and the implied cost of equity capital," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 51(C), pages 15-38.
    13. Carney, Richard W. & El Ghoul, Sadok & Guedhami, Omrane & Wang, He (Helen), 2024. "Geopolitical risk and the cost of capital in emerging economies," Emerging Markets Review, Elsevier, vol. 61(C).
    14. Bley, Jorg & Saad, Mohsen & Samet, Anis, 2019. "Auditor choice and bank risk taking," International Review of Financial Analysis, Elsevier, vol. 61(C), pages 37-52.
    15. Huang, Robin Hui & Zhang, Linhan, 2023. "The effects of reputational sanctions on culpable firms: Evidence from China’s stock markets," International Review of Law and Economics, Elsevier, vol. 75(C).
    16. Berger, Allen N. & El Ghoul, Sadok & Guedhami, Omrane & Roman, Raluca A., 2022. "Geographic deregulation and banks’ cost of equity capital," Journal of International Money and Finance, Elsevier, vol. 120(C).
    17. Wu, Po-yang & Zhang, Jing & Yang, Siyu, 2024. "Media pressure, corporate social responsibility, and the risk of share price crash," International Review of Economics & Finance, Elsevier, vol. 96(PB).
    18. Kim, Yongtae & (Nancy) Su, Lixin & (Stephen) Zhou, Gaoguang & (Kevin) Zhu, Xindong, 2020. "PCAOB international inspections and Merger and Acquisition outcomes," Journal of Accounting and Economics, Elsevier, vol. 70(1).
    19. Wang, Kun Tracy & Kartika, Fiki & Wang, Wanbin Walter & Luo, Guqiang, 2021. "Corporate social responsibility, investor protection, and the cost of equity: Evidence from East Asia," Emerging Markets Review, Elsevier, vol. 47(C).
    20. Kai Quan Zhang & Hsing Hung Chen, 2017. "Environmental Performance and Financing Decisions Impact on Sustainable Financial Development of Chinese Environmental Protection Enterprises," Sustainability, MDPI, vol. 9(12), pages 1-14, December.
    21. Bills, Kenneth L. & Cobabe, Matthew & Pittman, Jeffrey & Stein, Sarah E., 2020. "To share or not to share: The importance of peer firm similarity to auditor choice," Accounting, Organizations and Society, Elsevier, vol. 83(C).
    22. Areneke, Geofry & Kimani, Danson, 2019. "Value relevance of multinational directorship and cross-listing on MNEs national governance disclosure practices in Sub-Saharan Africa: Evidence from Nigeria," Journal of World Business, Elsevier, vol. 54(4), pages 285-306.
    23. Jia, Yuecheng & Simkins, Betty & Feng, Hongrui, 2023. "Political connections and short sellers," Journal of Banking & Finance, Elsevier, vol. 146(C).
    24. Breuer, Wolfgang & Müller, Torbjörn & Rosenbach, David & Salzmann, Astrid, 2018. "Corporate social responsibility, investor protection, and cost of equity: A cross-country comparison," Journal of Banking & Finance, Elsevier, vol. 96(C), pages 34-55.
    25. Li, Wanfu & Pittman, Jeffrey & Wang, Zi-Tian & Zhao, Ziye, 2025. "The importance of information flow within auditors’ client portfolios to audit quality," Accounting, Organizations and Society, Elsevier, vol. 115(C).
    26. Melsa Ararat & Asli M. Colpan & Dirk Matten, 2018. "Business Groups and Corporate Responsibility for the Public Good," Journal of Business Ethics, Springer, vol. 153(4), pages 911-929, December.

  56. Najah Attig & Narjess Boubakri & Sadok El Ghoul & Omrane Guedhami, 2016. "The Global Financial Crisis, Family Control, and Dividend Policy," Financial Management, Financial Management Association International, vol. 45(2), pages 291-313, May.

    Cited by:

    1. Chen, Ruiyuan (Ryan) & Liu, Feiyu (Andy) & Zhao, Chen, 2024. "Worldwide board reforms and financial reporting quality," Research in International Business and Finance, Elsevier, vol. 69(C).
    2. Attig, Najah & Chen, Ruiyuan & El Ghoul, Sadok & Guedhami, Omrane & Kwok, Chuck & Pittman, Jeffrey, 2020. "Are insiders equal? Evidence from earnings management in closely held East Asian firms," Research in International Business and Finance, Elsevier, vol. 54(C).
    3. Duqi, Andi & Jaafar, Aziz & Warsame, Mohammed H., 2020. "Payout policy and ownership structure: The case of Islamic and conventional banks," The British Accounting Review, Elsevier, vol. 52(1).
    4. Heino, Noora & Alimov, Naufal & Tuominen, Pasi, 2024. "Family firm employment behavior during a financial crisis: Does generational stage matter?," Journal of Family Business Strategy, Elsevier, vol. 15(3).
    5. Samir Harith & Ruth Helen Samujh, 2020. "Small Family Businesses: Innovation, Risk and Value," JRFM, MDPI, vol. 13(10), pages 1-15, October.
    6. Christopher Hansen & Joern Block & Matthias Neuenkirch, 2020. "Family Firm Performance Over The Business Cycle: A Meta‐Analysis," Journal of Economic Surveys, Wiley Blackwell, vol. 34(3), pages 476-511, July.
    7. Paul B. McGuinness, 2024. "Research note: An investigation of the relation between pre-IPO dividends and vendor sales," Review of Quantitative Finance and Accounting, Springer, vol. 62(3), pages 889-910, April.
    8. Svenja Jarchow & Christoph Kaserer & Henry Keppler, 2023. "Family firm performance in times of crisis—new evidence from Germany," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 13(3), pages 543-580, September.
    9. Chen, Xiaoqi & Chih-Chieh Chris, Hsieh & Tsang, Albert & Xiang, Yi, 2022. "Cross-border enforcement of securities laws and dividend payouts," The British Accounting Review, Elsevier, vol. 54(6).
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    13. Lee, Chien-Chiang & Wang, Chih-Wei & Huang, Chun-Wei & Sharma, Susan Sunila, 2025. "Corporate dividend behavior under uncertainty: A study of Chinese firms," Pacific-Basin Finance Journal, Elsevier, vol. 91(C).
    14. Vincent Molly & Anneleen Michiels, 2022. "Dividend decisions in family businesses: A systematic review and research agenda," Journal of Economic Surveys, Wiley Blackwell, vol. 36(4), pages 992-1026, September.
    15. Zhe An & Wenlian Gao & Donghui Li & Dezhu Ye, 2022. "Dividend payouts, cash‐flow uncertainty and the role of institutions," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(7-8), pages 1356-1390, July.
    16. Guedhami, Omrane & Kwok, Chuck C.Y. & Shao, Liang, 2017. "Political freedom and corporate payouts," Journal of Corporate Finance, Elsevier, vol. 43(C), pages 514-529.
    17. Ernest Gyapong & Ammad Ahmed & Collins G Ntim & Muhammad Nadeem, 2021. "Board gender diversity and dividend policy in Australian listed firms: the effect of ownership concentration," Asia Pacific Journal of Management, Springer, vol. 38(2), pages 603-643, June.
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    20. Júlio Lobão & Patrícia Piedade & Srinivas Nippani, 2022. "Does stock trading volume signal future dividends? Evidence from Iberian firms," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 21(1), pages 53-66, January.
    21. Shah, Muhammad Hashim & Xiao, Zuoping & Abdullah,, 2023. "Internal pyramid structure, judicial efficiency, firm-level governance and dividend policy," International Review of Economics & Finance, Elsevier, vol. 83(C), pages 764-785.
    22. Susana Álvarez‐Díez & J. Samuel Baixauli‐Soler & María Belda‐Ruiz & Gregorio Sánchez‐Marín, 2023. "Variable selection for classification and forecasting of the family firm's socioemotional wealth," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 42(8), pages 2063-2078, December.
    23. Muhammad Jahangir Ali & Seema Miglani & Man Dang & Premkanth Puwanenthiren & Mazur Mieszko, 2022. "Do family firms pay less for external funding?," Australian Journal of Management, Australian School of Business, vol. 47(2), pages 225-250, May.
    24. Stefania Migliori & Fabrizio Maturo & Francesco Paolone, 2018. "Capital Structure Determinants in Family Firms: An Empirical Analysis in Context of Crisis," International Business Research, Canadian Center of Science and Education, vol. 11(4), pages 65-83, April.
    25. Sabri Boubaker & Pascal Nguyen & Wael Rouatbi, 2016. "Multiple Large Shareholders and Corporate Risk†taking: Evidence from French Family Firms," European Financial Management, European Financial Management Association, vol. 22(4), pages 697-745, September.
    26. María Belda-Ruiz & Gregorio Sánchez-Marín & J. Samuel Baixauli-Soler, 2022. "Influence of family-centered goals on dividend policy in family firms: A socioemotional wealth approach," International Entrepreneurship and Management Journal, Springer, vol. 18(4), pages 1503-1526, December.
    27. Kumar, Satish & Pathak, Rajesh, 2025. "Compliance to the mandatory CSR regulation and leverage adjustment: A quasi-natural experiment," International Review of Economics & Finance, Elsevier, vol. 98(C).
    28. Rehman, Atiqa & Gonenc, Halit & Hermes, Niels, 2023. "Corporate social performance of family firms and shareholder protection: An international analysis," Journal of Family Business Strategy, Elsevier, vol. 14(2).
    29. Saeed, Abubakr & Sameer, Muhammad, 2017. "Impact of board gender diversity on dividend payments: Evidence from some emerging economies," International Business Review, Elsevier, vol. 26(6), pages 1100-1113.
    30. Kishk, Israa & Rao-Nicholson, Rekha, 2025. "Corporate ownership types and internationalization strategies: The moderating role of home country capitalism," International Business Review, Elsevier, vol. 34(6).
    31. Khaw, Karren Lee-Hwei & Wei, Yi & Ma, Shiyue, 2025. "Family firms and risk taking: Does the integration of ESG practices matter?," Emerging Markets Review, Elsevier, vol. 69(C).
    32. Khiar, Mohamed Nasrallah & Kooli, Maher, 2023. "Culture and payout policy: International evidence," Journal of Multinational Financial Management, Elsevier, vol. 70.
    33. Saeed, Abubakr & Zamir, Farah, 2021. "How does CSR disclosure affect dividend payments in emerging markets?," Emerging Markets Review, Elsevier, vol. 46(C).
    34. Alexandros Sikalidis & Konstantinos Bozos & Antonios Chantziaras & Christos Grose, 2022. "Influences of family ownership on dividend policy under mandatory dividend rules," Review of Quantitative Finance and Accounting, Springer, vol. 59(3), pages 939-967, October.
    35. Kumar, Satish & Pathak, Rajesh, 2025. "Promoter ownership and speed of adjustment toward the target capital structure," Pacific-Basin Finance Journal, Elsevier, vol. 92(C).
    36. Pirgaip, Burak & Dinçergök, Burcu, 2019. "Share repurchases under uncertainty: U.S. evidence," Finance Research Letters, Elsevier, vol. 30(C), pages 130-138.
    37. Hossain, Ashrafee Tanvir & Hossain, Takdir & Kryzanowski, Lawrence, 2021. "Political corruption and corporate payouts," Journal of Banking & Finance, Elsevier, vol. 123(C).
    38. Chen, Ni-Yun & Liu, Chi-Chun, 2024. "Family performance following share repurchases, information asymmetry and interest alignment," International Review of Economics & Finance, Elsevier, vol. 96(PA).
    39. E. I. Kadochnikova* & N. M. Yakupova & I. L. Beilin & Z. N. Zapparova, 2018. "The Impact of Ownership on the Structures Based on Division Between Policies and Companies," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 272-276:5.
    40. Wu, Manhwa & Ni, Yensen & Huang, Paoyu, 2020. "Dividend payouts and family-controlled firms—The effect of culture on business," The Quarterly Review of Economics and Finance, Elsevier, vol. 75(C), pages 221-228.
    41. Balachandran, Balasingham & Nguyen, Justin Hung, 2018. "Does carbon risk matter in firm dividend policy? Evidence from a quasi-natural experiment in an imputation environment," Journal of Banking & Finance, Elsevier, vol. 96(C), pages 249-267.
    42. Goyal, Abhinav & Jategaonkar, Shrikant P. & Muckley, Cal B., 2020. "Why do privatized firms pay higher dividends?," Journal of Corporate Finance, Elsevier, vol. 60(C).
    43. Naeem, Muhammad & Khurram, Shahzad, 2020. "Does a CEO's culture affect dividend policy?," Finance Research Letters, Elsevier, vol. 35(C).
    44. Miller, Danny & Amore, Mario Daniele & Quarato, Fabio & Corbetta, Guido, 2022. "Family Ownership Dispersion and Dividend Payout in Family Firms," Journal of Family Business Strategy, Elsevier, vol. 13(3).
    45. Poletti-Hughes, Jannine & Williams, Jonathan, 2019. "The effect of family control on value and risk-taking in Mexico: A socioemotional wealth approach," International Review of Financial Analysis, Elsevier, vol. 63(C), pages 369-381.
    46. Marinko Škare & Małgorzata Porada-Rochoń, 2021. "Measuring the impact of financial cycles on family firms: how to prepare for crisis?," International Entrepreneurship and Management Journal, Springer, vol. 17(3), pages 1111-1130, September.
    47. Saranyu Ungpakorn & Pattanaporn Chatjuthamard & Pornsit Jiraporn & Piyachart Phiromswad, 2023. "Infectious diseases, dividend policy, and independent directors: Evidence from textual analysis," PLOS ONE, Public Library of Science, vol. 18(2), pages 1-21, February.
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    50. El Ghoul, Sadok & Guedhami, Omrane & Wang, He & Kwok, Chuck C.Y., 2016. "Family control and corporate social responsibility," Journal of Banking & Finance, Elsevier, vol. 73(C), pages 131-146.
    51. Frank Obenpong Kwabi & Emmanuel Adegbite & Ernest Ezeani & Chizindu Wonu & Henry Mumbi, 2024. "Political uncertainty and stock market liquidity, size, and transaction cost: The role of institutional quality," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(2), pages 2030-2048, April.
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  57. Sadok El Ghoul & Omrane Guedhami & Jeffrey A. Pittman & Sorin Rizeanu, 2016. "Cross†Country Evidence on the Importance of Auditor Choice to Corporate Debt Maturity," Contemporary Accounting Research, John Wiley & Sons, vol. 33(2), pages 718-751, June.

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    1. Kashefi Pour, Eilnaz & Lasfer, Meziane, 2019. "Taxes, governance, and debt maturity structure: International evidence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 58(C), pages 136-161.
    2. Bu, Jun & Chang, Yanfeng & Fei, Tianlun & Li, Xueying, 2025. "It is a marathon, not a sprint: The impact of supply chain finance on firms’ short-term debt for long-term investments," Pacific-Basin Finance Journal, Elsevier, vol. 93(C).
    3. Nguyen, Lily & Vu, Le & Yin, Xiangkang, 2020. "The undesirable effect of audit quality: Evidence from firm innovation," The British Accounting Review, Elsevier, vol. 52(6).
    4. Allaya, Manel & Derouiche, Imen & Muessig, Anke, 2022. "Voluntary disclosure, ownership structure, and corporate debt maturity: A study of French listed firms," International Review of Financial Analysis, Elsevier, vol. 81(C).
    5. Oleh Pasko, 2017. "Perception of Accounting and Auditing Standards by Users in Context of Formation of Institutional Openness in Regulation," Oblik i finansi, Institute of Accounting and Finance, issue 1, pages 68-75, March.
    6. Nguyen, Van Ha & Choi, Bobae & Agbola, Frank W., 2020. "Corporate social responsibility and debt maturity: Australian evidence," Pacific-Basin Finance Journal, Elsevier, vol. 62(C).
    7. Leif Atle Beisland & Roy Mersland & Øystein Strøm, 2018. "Use of Big Four auditors and fund raising: evidence from developing and emerging markets," Post-Print hal-05221012, HAL.
    8. Bu, Luofan & Ng, Jeffrey & Song, Byron Y. & Yan, Mark Yuzhi, 2026. "Freedom is not free: Manager disloyalty and bank debt reliance," Journal of Corporate Finance, Elsevier, vol. 96(C).
    9. Feito-Ruiz, Isabel & Menéndez-Requejo, Susana, 2022. "Debt maturity in family firms: Heterogeneity across countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 81(C).
    10. Huang, Ming & Wang, Xiaoxiao & Wang, Xuewu & Zhang, Qunzi, 2024. "Carbon risk and corporate maturity mismatch," Journal of International Money and Finance, Elsevier, vol. 149(C).
    11. Bolortuya Enkhtaivan & Wenling Lu, 2021. "The effect of TARP on lending: Evidence from the lead bank’s share in syndicated loans," Review of Quantitative Finance and Accounting, Springer, vol. 57(4), pages 1169-1193, November.
    12. Cai, Yongbin & Tan, Xinyu & Fang, Wenbin & Nahar, Shamsun & Wang, Feiyang, 2025. "Digital inclusive finance and corporate debt financing: Empirical evidence from China," Economic Analysis and Policy, Elsevier, vol. 86(C), pages 494-509.
    13. Hassan, M. Kabir & Karim, Md. Sydul & Kozlowski, Steven E., 2022. "Implications of public corruption for local firms: Evidence from corporate debt maturity," Journal of Financial Stability, Elsevier, vol. 58(C).
    14. Pappas, Kostas & Walsh, Eamonn & Xu, Alice Liang, 2019. "Real earnings management and loan contract terms," The British Accounting Review, Elsevier, vol. 51(4), pages 373-401.
    15. Zhu, Zhiliang & Song, Wuqi, 2026. "Credit information sharing and corporate debt maturity structure: Evidence from a quasi-natural experiment in China," The North American Journal of Economics and Finance, Elsevier, vol. 81(C).
    16. Yao Maurice & Yves Mard & Éric Séverin, 2020. "The Effect of Earnings Management on Debt Maturity: An International Study," Post-Print hal-03029366, HAL.
    17. Gan, Xiao Dong & Zheng, Xiao Yu & Li, Cong Cong & Zhu, Gui Qin, 2024. "Green bond issuance and trade credit access: Evidence from Chinese bond market," Finance Research Letters, Elsevier, vol. 60(C).
    18. Cheng, Xin & (Helen) Wang, He & Wang, Xianjue, 2022. "Common institutional ownership and corporate social responsibility," Journal of Banking & Finance, Elsevier, vol. 136(C).
    19. Mansi, Sattar A. & Qi, Yaxuan & Wald, John K., 2021. "Bond covenants, bankruptcy risk, and the cost of debt," Journal of Corporate Finance, Elsevier, vol. 66(C).
    20. Wu, Julia Yonghua & Opare, Solomon & Bhuiyan, Md. Borhan Uddin & Habib, Ahsan, 2022. "Determinants and consequences of debt maturity structure: A systematic review of the international literature," International Review of Financial Analysis, Elsevier, vol. 84(C).
    21. Jeong-Bon Kim & Mikhail Pevzner & Xiangang Xin, 2019. "Foreign institutional ownership and auditor choice: Evidence from worldwide institutional ownership," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(1), pages 83-110, February.
    22. Li, Tongxia & Lu, Chun & Routledge, James, 2023. "Brand capital on debt maturity structure," Journal of Contemporary Accounting and Economics, Elsevier, vol. 19(3).
    23. Ghada Tayem, 2023. "Debt Maturity and Institutions: Does Creditor Protection Matter?," Economies, MDPI, vol. 11(8), pages 1-15, August.
    24. Ole‐Kristian Hope & Heng Yue & Qinlin Zhong, 2020. "China's Anti‐Corruption Campaign and Financial Reporting Quality†," Contemporary Accounting Research, John Wiley & Sons, vol. 37(2), pages 1015-1043, June.

  58. Boubakri, Narjess & El Ghoul, Sadok & Wang, He & Guedhami, Omrane & Kwok, Chuck C.Y., 2016. "Cross-listing and corporate social responsibility," Journal of Corporate Finance, Elsevier, vol. 41(C), pages 123-138.

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    1. Yang, Ann Shawing & Carandang, Craig Alan Uyan, 2017. "Exploring the location and price differentials of cross-listed firms for arbitrage opportunities," Finance Research Letters, Elsevier, vol. 21(C), pages 85-91.
    2. Boubaker, Sabri & Chebbi, Kaouther & Grira, Jocelyn, 2020. "Top management inside debt and corporate social responsibility? Evidence from the US," The Quarterly Review of Economics and Finance, Elsevier, vol. 78(C), pages 98-115.
    3. Yang, Liuyong & Wang, Beibei & Luo, Deming, 2022. "Corporate social responsibility in market liberalization: Evidence from Shanghai-Hong Kong Stock Connect," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 77(C).
    4. Farah Zamir & Abubakr Saeed, 2020. "Location matters: Impact of geographical proximity to financial centers on corporate social responsibility (CSR) disclosure in emerging economies," Asia Pacific Journal of Management, Springer, vol. 37(1), pages 263-295, March.
    5. Alice Monti & Pierpaolo Pattitoni & Barbara Petracci & Otto Randl, 2022. "Does corporate social responsibility impact equity risk? International evidence," Review of Quantitative Finance and Accounting, Springer, vol. 59(3), pages 825-855, October.
    6. Byun, Seong K. & Han, Sulei & Oh, Jong-Min & Xu, Jing, 2025. "ESG complementarity in emerging market: Evidence from China," Finance Research Letters, Elsevier, vol. 73(C).
    7. Hans B. Christensen & Luzi Hail & Christian Leuz, 2021. "Mandatory CSR and sustainability reporting: economic analysis and literature review," Review of Accounting Studies, Springer, vol. 26(3), pages 1176-1248, September.
    8. Kim, Jong-Hoon & Fujiyama, Keishi & Koga, Yuya, 2024. "The effect of voluntary international financial reporting standards adoption on information asymmetry in the stock market: Evidence from Japan," Research in International Business and Finance, Elsevier, vol. 69(C).
    9. Zhe Li & Bo Wang & Dan Zhou, 2022. "Financial experts of top management teams and corporate social responsibility: evidence from China," Review of Quantitative Finance and Accounting, Springer, vol. 59(4), pages 1335-1386, November.
    10. Lian, Zeng & Lien, Donald & Sun, Jiawei, 2024. "The role of future time reference in cross-listing decisions: Cross-country evidence," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 112(C).
    11. Cai, Kelly & Zhu, Steven X. & Zhu, Hui, 2025. "Does corporate social responsibility facilitate credit ratings: Evidence from Rule 144A bonds," Finance Research Letters, Elsevier, vol. 76(C).
    12. Adebiyi Sunday Adeyanju & Edson Vengesai & Joseph Olorunfemi Akande & Paul-Francois Muzindutsi, 2025. "The Role of Political Stability, Government Effectiveness and Voice and Accountability on Cross-Listing Destination Premium: Evidence of BRICS Firms," Businesses, MDPI, vol. 5(4), pages 1-31, October.
    13. Zhe Li & Ping Wang & Tianlong Wu, 2021. "Do foreign institutional investors drive corporate social responsibility? Evidence from listed firms in China," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 48(1-2), pages 338-373, January.
    14. Oliveira, Gustavo de L.T. & McKay, Ben & Plank, Christina, 2017. "How biofuel policies backfire: Misguided goals, inefficient mechanisms, and political-ecological blind spots," Energy Policy, Elsevier, vol. 108(C), pages 765-775.
    15. Xiaofeng Liu & Zhi Wang & Shichi Ren, 2024. "Investor–Firm Interactions and Corporate ESG Performance: Evidence from China," Sustainability, MDPI, vol. 16(24), pages 1-33, December.
    16. Yamina Chouaibi & Matteo Rossi & Ghazi Zouari, 2021. "The Effect of Corporate Social Responsibility and the Executive Compensation on Implicit Cost of Equity: Evidence from French ESG Data," Sustainability, MDPI, vol. 13(20), pages 1-17, October.
    17. Shirasu, Yoko & Kawakita, Hidetaka, 2021. "Long-term financial performance of corporate social responsibility," Global Finance Journal, Elsevier, vol. 50(C).
    18. Bae, Kee-Hong & El Ghoul, Sadok & Gong, Zhaoran (Jason) & Guedhami, Omrane, 2021. "Does CSR matter in times of crisis? Evidence from the COVID-19 pandemic," Journal of Corporate Finance, Elsevier, vol. 67(C).
    19. Douglas Cumming & Pedro Monteiro, 2023. "Sovereign wealth fund investment in venture capital, private equity, and real asset funds," Journal of International Business Policy, Palgrave Macmillan, vol. 6(3), pages 330-355, September.
    20. Luo, Yi & Ma, Jian & Wang, Yu & Ye, Aishan, 2022. "Board internationalization and corporate social responsibility," The North American Journal of Economics and Finance, Elsevier, vol. 63(C).
    21. Xue, Fei & Chen, Qinyuan & Chan, Kam C. & Yi, Zhihong, 2022. "Is corporate social responsibility value relevant? Evidence from a quasi-natural experiment of anti-corruption campaign," Journal of Business Research, Elsevier, vol. 140(C), pages 520-532.
    22. Kara, Alper & Ongena, Steven & Yildiz, Yilmaz, 2024. "Does being a responsible bank pay off? Evidence from the COVID-19 pandemic," Journal of Financial Stability, Elsevier, vol. 74(C).
    23. Balli, Faruk & Agyemang, Abraham & Gregory-Allen, Russell & Ozer Balli, Hatice, 2022. "Corporate dividend smoothing: The role of cross-listing," Journal of Corporate Finance, Elsevier, vol. 72(C).
    24. Motta, Massimo & Tarantino, Emanuele, 2017. "The effect of horizontal mergers, when firms compete in prices and investments," Working Papers 17-01, University of Mannheim, Department of Economics.
    25. Altunbas, Yener & Gambacorta, Leonardo & Reghezza, Alessio & Velliscig, Giulio, 2022. "Does gender diversity in the workplace mitigate climate change?," Journal of Corporate Finance, Elsevier, vol. 77(C).
    26. Hamed, Ruba Subhi & Al-Shattarat, Basiem Khalil & Al-Shattarat, Wasim Khalil & Hussainey, Khaled, 2022. "The impact of introducing new regulations on the quality of CSR reporting: Evidence from the UK," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 46(C).
    27. Imen Ghadhab & Hamza Nizar & Ramzi Benkraiem & Faten Lakhal, 2023. "Cross-listing dynamics and labor investment efficiency: International evidence," Post-Print hal-04146889, HAL.
    28. Xiaomeng Chen & Xiao Liang & Hai Wu, 2023. "Cross-Border Mergers and Acquisitions and CSR Performance: Evidence from China," Journal of Business Ethics, Springer, vol. 183(1), pages 255-288, February.
    29. Liu, Xianda & An, Jiafu & Duan, Tinghua & Hou, Wenxuan & Zhao, Ruoran, 2023. "Lawyers in the boardroom and firms’ environmental performance," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 89(C).
    30. Ambler, Kate & de Brauw, Alan & Herskowitz, Sylvan & Pulido, Cristhian, 2023. "Viewpoint: Finance needs of the agricultural midstream," Food Policy, Elsevier, vol. 121(C).
    31. Haina Shi & Xin Zhang & Jing Zhou, 2018. "Cross-listing and CSR performance: evidence from AH shares," Frontiers of Business Research in China, Springer, vol. 12(1), pages 1-15, December.
    32. Wang, Aoran & Luo, Xian & Zeng, Ying & Zhang, Hao, 2022. "Foreign ownership and corporate philanthropy," Finance Research Letters, Elsevier, vol. 46(PB).
    33. Li, Huijing & Fu, Chengbo & Zhang, Qi, 2025. "Climate risk and American depositary receipts," Finance Research Letters, Elsevier, vol. 85(PD).
    34. Iram Hasan & Shveta Singh & Smita Kashiramka, 2022. "Does corporate social responsibility disclosure impact firm performance? An industry-wise analysis of Indian firms," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(8), pages 10141-10181, August.
    35. Boubakri, Narjess & El Ghoul, Sadok & Guedhami, Omrane & Wang, He (Helen), 2021. "Corporate social responsibility in emerging market economies: Determinants, consequences, and future research directions," Emerging Markets Review, Elsevier, vol. 46(C).
    36. Bissoondoyal-Bheenick, Emawtee & Brooks, Robert & Do, Hung Xuan, 2023. "ESG and firm performance: The role of size and media channels," Economic Modelling, Elsevier, vol. 121(C).
    37. Qian, Binsheng & Poshakwale, Sunil & Tan, Yusen, 2024. "‘E’ of ESG and firm performance: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 96(PB).
    38. Do, Trung K., 2025. "Cross-listing, innovation and the role of nation-level institutions," Journal of Financial Stability, Elsevier, vol. 80(C).
    39. Zhu, Minghao & Yeung, Andy C.L. & Zhou, Honggeng, 2021. "Diversify or concentrate: The impact of customer concentration on corporate social responsibility," International Journal of Production Economics, Elsevier, vol. 240(C).
    40. Chang, Yuyuan & He, Wen & Mi, Lin, 2024. "Cross-border regulatory cooperation and cash holdings: Evidence from US-listed foreign firms," The British Accounting Review, Elsevier, vol. 56(6).
    41. Mithilesh Gidage & Shilpa Bhide & Yuriy Bilan, 2025. "Greenwashing in the Indian corporate landscape: an empirical assessment of ESG disclosures of NIFTY 50 companies," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 27(9), pages 21861-21885, September.
    42. Federico, Giulio & Langus, Gregor & Valletti, Tommaso, 2017. "A simple model of mergers and innovation," Economics Letters, Elsevier, vol. 157(C), pages 136-140.
    43. Zhang, Chi & Liu, Qiang & Ge, Guoqing & Hao, Ying & Hao, Han, 2021. "The impact of government intervention on corporate environmental performance: Evidence from China's national civilized city award," Finance Research Letters, Elsevier, vol. 39(C).
    44. Huang, Chenchen & Luo, Di & Mukherjee, Soumyatanu & Mishra, Tapas, 2022. "To Acquire or to Ally? Managing Partners’ Environmental Risk in International Expansion," MPRA Paper 121808, University Library of Munich, Germany, revised 07 Jan 2023.
    45. Maria Vetrova, 2021. "Closed Product Life Cycle as a Basis of the Circular Economy," GATR Journals jber198, Global Academy of Training and Research (GATR) Enterprise.
    46. Driss, Hamdi & Drobetz, Wolfgang & El Ghoul, Sadok & Guedhami, Omrane, 2024. "The Sustainability committee and environmental disclosure: International evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 221(C), pages 602-625.
    47. Xi Zhong & Ge Ren & XiaoJie Wu, 2022. "Not all stakeholders are created equal: executive vertical pay disparity and firms’ choice of internal and external CSR," Review of Managerial Science, Springer, vol. 16(8), pages 2495-2525, November.
    48. Tamas Barko & Martijn Cremers & Luc Renneboog, 2022. "Shareholder Engagement on Environmental, Social, and Governance Performance," Journal of Business Ethics, Springer, vol. 180(2), pages 777-812, October.
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    50. Dong-Soon Kim & Eunjung Yeo & Li Zhang, 2021. "Do Cross-Listed Firms Have a Better Governance Structure and Lower Agency Costs? Evidence from Chinese Firms," Sustainability, MDPI, vol. 13(4), pages 1-25, February.
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  60. Boubakri, Narjess & El Ghoul, Sadok & Saffar, Walid, 2014. "Political rights and equity pricing," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 326-344.

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    1. Mishra, Dev R., 2014. "The dark side of CEO ability: CEO general managerial skills and cost of equity capital," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 390-409.
    2. Viswanathan Nagarajan & Prateek Sharma, 2021. "Firm internationalization and long‐term impact of the Covid‐19 pandemic," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(6), pages 1477-1491, September.
    3. Sha, Yezhou & Qiao, Lu & Li, Suyang & Bu, Ziwen, 2021. "Political freedom and earnings management," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
    4. He, Chao & Zhou, Zhongsheng & Jian, Fangfang & Qiu, Yuhan, 2025. "Robots and cost of equity: Evidence from China," China Economic Review, Elsevier, vol. 94(PB).
    5. Rjiba, Hatem & Saadi, Samir & Boubaker, Sabri & Ding, Xiaoya (Sara), 2021. "Annual report readability and the cost of equity capital," Journal of Corporate Finance, Elsevier, vol. 67(C).
    6. Zhe An & Wenlian Gao & Donghui Li & Dezhu Ye, 2022. "Dividend payouts, cash‐flow uncertainty and the role of institutions," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(7-8), pages 1356-1390, July.
    7. Guedhami, Omrane & Kwok, Chuck C.Y. & Shao, Liang, 2017. "Political freedom and corporate payouts," Journal of Corporate Finance, Elsevier, vol. 43(C), pages 514-529.
    8. Ma, Yechi & Ding, Yibing & Bu, Ziwen & Li, Suyang, 2024. "Political freedom and financial inclusion: Unraveling social trust and political rent-seeking," Journal of Economic Behavior & Organization, Elsevier, vol. 220(C), pages 46-65.
    9. Woo‐Jong Lee & Jeffrey Pittman & Walid Saffar, 2020. "Political Uncertainty and Cost Stickiness: Evidence from National Elections around the World," Contemporary Accounting Research, John Wiley & Sons, vol. 37(2), pages 1107-1139, June.
    10. Ashraf, Badar Nadeem, 2017. "Political institutions and bank risk-taking behavior," Journal of Financial Stability, Elsevier, vol. 29(C), pages 13-35.
    11. Badarau, Cristina & Lapteacru, Ion, 2020. "Bank risk, competition and bank connectedness with firms: A literature review," Research in International Business and Finance, Elsevier, vol. 51(C).
    12. Chui, Andy C.W. & Li, Xiao & Saffar, Walid, 2021. "National culture and the choice between bank debt and public debt," Pacific-Basin Finance Journal, Elsevier, vol. 70(C).
    13. Belkhir, Mohamed & Boubakri, Narjess & Grira, Jocelyn, 2017. "Political risk and the cost of capital in the MENA region," Emerging Markets Review, Elsevier, vol. 33(C), pages 155-172.
    14. Andrea Calef & Ifigenia Georgiou & Alfonsina Iona, 2022. "Credit Market Freedom and Corporate Decisions," University of East Anglia School of Economics Working Paper Series 2022-09, School of Economics, University of East Anglia, Norwich, UK..
    15. Lai, Karen M.Y. & Saffar, Walid & Zhu, Xindong (Kevin) & Liu, Yiye, 2020. "Political institutions, stock market liquidity and firm dividend policy: Some international evidence," Journal of Contemporary Accounting and Economics, Elsevier, vol. 16(1).
    16. Białkowski, Jędrzej & Ronn, Ehud I., 2019. "The global equity premium revisited: What human rights imply for assets' purchasing power," International Review of Financial Analysis, Elsevier, vol. 61(C), pages 175-187.
    17. Bruno Emmanuel Ongo Nkoa & Thierry Mamadou Asngar & Charles Christian Atangana Zambo & Donald Ferdinand Okere Atanga, 2023. "Does institutional quality accelerate the growth of financial markets in Africa?," SN Business & Economics, Springer, vol. 3(4), pages 1-26, April.
    18. Badar Nadeem Ashraf & Sidra Arshad & Liang Yan, 2018. "Do Better Political Institutions Help in Reducing Political Pressure on State-Owned Banks? Evidence from Developing Countries," JRFM, MDPI, vol. 11(3), pages 1-18, August.
    19. He, Ye & Pan, Yuetong & Shan, Tao & Zhou, Yanyu, 2025. "ESG rating disagreement and the cost of equity financing," International Review of Financial Analysis, Elsevier, vol. 107(C).
    20. Jędrzej Białkowski & Ehud I. Ronn, 2017. "The Global Equity Premium Revisited: What Human Rights Imply for Assets’ Purchasing Power," Working Papers in Economics 17/19, University of Canterbury, Department of Economics and Finance.
    21. Boubakri, Narjess & El Ghoul, Sadok & Saffar, Walid, 2015. "Firm growth and political institutions," Journal of Multinational Financial Management, Elsevier, vol. 31(C), pages 104-125.
    22. Bryan W. Husted & Dima Jamali & Walid Saffar, 2016. "Near and dear? The role of location in CSR engagement," Strategic Management Journal, Wiley Blackwell, vol. 37(10), pages 2050-2070, October.
    23. Jędrzej Białkowski & Ehud I. Ronn, 2016. "Financial Markets in the Face of the Apocalypse," Working Papers in Economics 16/14, University of Canterbury, Department of Economics and Finance.

  61. Cho, Seong-Soon & El Ghoul, Sadok & Guedhami, Omrane & Suh, Jungwon, 2014. "Creditor rights and capital structure: Evidence from international data," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 40-60.

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    2. Gökhan Özer & İlhan Çam, 2021. "Financing decisions of firms: the roles of legal systems, shareholder rights and creditor rights," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(2), pages 2717-2757, June.
    3. Peng, Hongfeng & Ji, Jiao & Sun, Hanwen & Xu, Haofeng, 2023. "Legal enforcement and fintech credit: International evidence," Journal of Empirical Finance, Elsevier, vol. 72(C), pages 214-231.
    4. He, Wen & Hu, Maggie Rong & Mi, Lin & Yu, Jin, 2021. "How stable are corporate capital structures? International evidence," Journal of Banking & Finance, Elsevier, vol. 126(C).
    5. Byrne, Julie & O'Connor, Thomas, 2017. "How do creditors respond to disclosure quality? Evidence from corporate dividend payouts," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 49(C), pages 154-172.
    6. Kang, Youngho & Kim, Ryoonhee & Whang, Unjung, 2023. "International knowledge transfers and capital structure of multinational affiliates: Evidence from expatriate managers as the transfer agents," Journal of Multinational Financial Management, Elsevier, vol. 68(C).
    7. Cui, Weihan & Cuong, Ly Kim & Shimizu, Katsutoshi, 2020. "Cash policy and the bank-firm relationship," Economic Modelling, Elsevier, vol. 91(C), pages 804-818.
    8. Sadok El Ghoul & Omrane Guedhami & Chuck C Y Kwok & Ying Zheng, 2021. "The role of creditor rights on capital structure and product market interactions: International evidence," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(1), pages 121-147, February.
    9. Li, Jialong & Maung, Min & Wilson, Craig, 2018. "Governance and financial development: A cross-country analysis," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 52(C), pages 227-239.
    10. Mathur, Ike & Marcelin, Isaac, 2015. "Institutional failure or market failure?," Journal of Banking & Finance, Elsevier, vol. 52(C), pages 266-280.
    11. Rubi Ahmad & Oyebola Fatima Etudaiye-Muhtar, 2017. "Dynamic Model of Optimal Capital Structure: Evidence from Nigerian Listed Firms," Global Business Review, International Management Institute, vol. 18(3), pages 590-604, June.
    12. Moro, Andrea & Maresch, Daniela & Ferrando, Annalisa & Udell, Gregory F., 2017. "Does employment protection legislation affect credit access? Evidence from Europe," Working Paper Series 2063, European Central Bank.
    13. Huang, Ronghong & Tan, Kelvin Jui Keng & Faff, Robert W., 2016. "CEO overconfidence and corporate debt maturity," Journal of Corporate Finance, Elsevier, vol. 36(C), pages 93-110.
    14. Liu, Yixin & Liu, Yu & Wei, Zuobao, 2022. "Property rights protection, financial constraint, and capital structure choices: Evidence from a Chinese natural experiment," Journal of Corporate Finance, Elsevier, vol. 73(C).
    15. Nadarajah, Sivathaasan & Duong, Huu Nhan & Ali, Searat & Liu, Benjamin & Huang, Allen, 2021. "Stock liquidity and default risk around the world," Journal of Financial Markets, Elsevier, vol. 55(C).
    16. Si, Haiping & Li, Chengyu & Miao, Miao & Li, Xueyao & Wang, Chao, 2025. "Every coin has two sides: Does bankruptcy judicial reform promote corporate innovation༟," Economic Analysis and Policy, Elsevier, vol. 85(C), pages 1699-1720.
    17. Daher, Mai, 2017. "Creditor control rights, capital structure, and legal enforcement," Journal of Corporate Finance, Elsevier, vol. 44(C), pages 308-330.
    18. Boubakri, Narjess & Mirzaei, Ali & Samet, Anis, 2017. "National culture and bank performance: Evidence from the recent financial crisis," Journal of Financial Stability, Elsevier, vol. 29(C), pages 36-56.
    19. Mohammad Bitar & M. Kabir Hassan & William J. Hippler, 2017. "Determinants of Bank Capital in Dual Banking Systems," NFI Working Papers 2017-WP-04, Indiana State University, Scott College of Business, Networks Financial Institute.
    20. Bertrand, Jérémie & Delanghe, Marieke & Klein, Paul-Olivier, 2023. "Does relationship lending help firms to ask for credit? European cross-country evidence," Economic Modelling, Elsevier, vol. 124(C).
    21. Jacek Jaworski & Leszek Czerwonka, 2021. "Determinants of Enterprises’ Capital Structure in Energy Industry: Evidence from European Union," Energies, MDPI, vol. 14(7), pages 1-21, March.
    22. Awartani, Basel & Belkhir, Mohamed & Boubaker, Sabri & Maghyereh, Aktham, 2016. "Corporate debt maturity in the MENA region: Does institutional quality matter?," International Review of Financial Analysis, Elsevier, vol. 46(C), pages 309-325.
    23. Anurag K. Agarwal & Abhiman Das & Joshy Jacob & Sanket Mohapatra, 2020. "Introduction to the Special Issue on ‘Financial Distress, Bankruptcy, and Corporate Finance’," Vikalpa: The Journal for Decision Makers, , vol. 45(2), pages 61-68, June.
    24. Feito-Ruiz, Isabel & Menéndez-Requejo, Susana, 2022. "Debt maturity in family firms: Heterogeneity across countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 81(C).
    25. Tadeusz Dudycz & Bogumiła Brycz, 2021. "Why the Par Value of Share Matters to Investors," IJFS, MDPI, vol. 9(1), pages 1-20, March.
    26. Kanga, Désiré & Soumare, Issouf & Tchuigoua, Hubert Tchakoute, 2024. "Financial sector development and microcredit to small firms," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 96(C).
    27. Liu, Haiming & Hu, Jikong, 2025. "Bank Fintech and firm leverage adjustment speed: Evidence from China," Research in International Business and Finance, Elsevier, vol. 73(PA).
    28. Tran, Quoc Trung, 2020. "Creditor protection, shareholder protection and investment efficiency: New evidence," The North American Journal of Economics and Finance, Elsevier, vol. 52(C).
    29. Banerjee, Biswajit & Herrala, Risto, 2025. "An agency cost channel from creditor rights reforms to leverage," BOFIT Discussion Papers 6/2025, Bank of Finland Institute for Emerging Economies (BOFIT).
    30. Namara, Andrea Mc & Murro, Pierluigi & O’Donohoe, Sheila, 2025. "Discouraged borrowers and the importance of countries’ lending infrastructure for SMEs," International Review of Economics & Finance, Elsevier, vol. 98(C).
    31. Christophe J. GODLEWSKI, 2019. "How legal and institutional environments shape the private debt renegotiation process?," Working Papers of LaRGE Research Center 2019-08, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    32. Shah, Attaullah & Shah, Hamid Ali & Smith, Jason M. & Labianca, Giuseppe (Joe), 2017. "Judicial efficiency and capital structure: An international study," Journal of Corporate Finance, Elsevier, vol. 44(C), pages 255-274.
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    36. Gopalakrishnan, Balagopal & Mohapatra, Sanket, 2019. "Insolvency Regimes and Firms' Default Risk Under Economic Uncertainty and Shocks," MPRA Paper 96283, University Library of Munich, Germany.
    37. Fien van Solinge & Beau Soederhuizen, 2023. "European Insolvency Law and Firm Leverage," CPB Discussion Paper 448, CPB Netherlands Bureau for Economic Policy Analysis.
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    2. Richard P. Gregory, 2019. "Does Corporate Social Responsibility Reporting Lead to Less Speculative Trading?," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 11(6), pages 1-64, June.
    3. Shanaev, Savva & Ghimire, Binam, 2022. "When ESG meets AAA: The effect of ESG rating changes on stock returns," Finance Research Letters, Elsevier, vol. 46(PA).
    4. Bae, Sung C. & Chang, Kiyoung & Yi, Ha-Chin, 2018. "Are more corporate social investments better? Evidence of non-linearity effect on costs of U.S. Bank loans," Global Finance Journal, Elsevier, vol. 38(C), pages 82-96.
    5. Changhee Lee & Dan Palmon & Ari Yezegel, 2018. "The Corporate Social Responsibility Information Environment: Examining the Value of Financial Analysts’ Recommendations," Journal of Business Ethics, Springer, vol. 150(1), pages 279-301, June.
    6. Wu, Dejun & Lin, Chen & Liu, Sibo, 2016. "Does community environment matter to corporate social responsibility?," Finance Research Letters, Elsevier, vol. 18(C), pages 127-135.
    7. Boubaker, Sabri & Chebbi, Kaouther & Grira, Jocelyn, 2020. "Top management inside debt and corporate social responsibility? Evidence from the US," The Quarterly Review of Economics and Finance, Elsevier, vol. 78(C), pages 98-115.
    8. Zhang, Zehua & Zhao, Ran, 2022. "Carbon emission and credit default swaps," Finance Research Letters, Elsevier, vol. 50(C).
    9. Mirza, Nawazish & Afzal, Ayesha & Umar, Muhammad & Skare, Marinko, 2023. "The impact of green lending on banking performance: Evidence from SME credit portfolios in the BRIC," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 843-850.
    10. Alain Devalle & Simona Fiandrino & Valter Cantino, 2017. "The Linkage between ESG Performance and Credit Ratings: A Firm-Level Perspective Analysis," International Journal of Business and Management, Canadian Center of Science and Education, vol. 12(9), pages 1-53, August.
    11. Jongmoo Jay Choi & Hoje Jo & Jimi Kim & Moo Sung Kim, 2018. "Business Groups and Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 153(4), pages 931-954, December.
    12. Younes Ben Zaied & Béchir Ben Lahouel, 2021. "Does environmental CSR performance matter for corporate financial performance? Evidence from panel quantile regression," Economics Bulletin, AccessEcon, vol. 41(3), pages 938-951.
    13. Ballester, Laura & González-Urteaga, Ana & Martínez, Beatriz, 2025. "When is environmental performance most valued? International evidence from the CDS market," International Review of Economics & Finance, Elsevier, vol. 99(C).
    14. Danilo Drago & Concetta Carnevale & Raffaele Gallo, 2019. "Do corporate social responsibility ratings affect credit default swap spreads?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(3), pages 644-652, May.
    15. Yuanhui Li & Rongrong Chen & Erwei Xiang, 2022. "Corporate social responsibility, green financial system guidelines, and cost of debt financing: Evidence from pollution‐intensive industries in China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(3), pages 593-608, May.
    16. Zhe Ouyang & Xiaojiao Wang & Yang Liu, 2024. "The use of corporate social responsibility in response to product‐harm crisis: How do stock market reactions matter?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(4), pages 3081-3097, July.
    17. Charmaine Glegg & Oneil Harris & Thanh Ngo, 2018. "Corporate social responsibility and the wealth gains from dividend increases," Review of Financial Economics, John Wiley & Sons, vol. 36(2), pages 149-166, April.
    18. Zhen Li & Yitong Sun & Jinhao Liu & Yi Li & Zhifang Zhou, 2024. "Corporate violations and bank debt cost: The insurance effect of corporate social responsibility," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(5), pages 4487-4503, September.
    19. Li, Suyang & Qiao, Lu & Ren, Boru & Wang, Zilong, 2025. "Financing sustainability: Sustainable institutional investors and bank loan access," Journal of International Money and Finance, Elsevier, vol. 157(C).
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    22. Atif Ikram & Zhichuan (Frank) Li & Travis MacDonald, 2020. "CEO Pay Sensitivity (Delta and Vega) and Corporate Social Responsibility," Sustainability, MDPI, vol. 12(19), pages 1-20, September.
    23. Michalski, Lachlan & Low, Rand Kwong Yew, 2024. "Determinants of corporate credit ratings: Does ESG matter?," International Review of Financial Analysis, Elsevier, vol. 94(C).
    24. Mohammed Benlemlih & Isabelle Girerd-Potin, 2017. "Corporate social responsibility and firm financial risk reduction: On the moderating role of the legal environment," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 44(7-8), pages 1137-1166, July.
    25. Leo Tang & Marietta Peytcheva & Pei Li, 2020. "Investor-Paid Ratings and Conflicts of Interest," Journal of Business Ethics, Springer, vol. 163(2), pages 365-378, May.
    26. Cai, Kelly & Zhu, Steven X. & Zhu, Hui, 2025. "Does corporate social responsibility facilitate credit ratings: Evidence from Rule 144A bonds," Finance Research Letters, Elsevier, vol. 76(C).
    27. Benjamin Lynch & Martha O'Hagan‐Luff, 2024. "Relative corporate social performance and cost of equity capital: International evidence," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(3), pages 2882-2910, July.
    28. Habib, Ahsan & Ranasinghe, Dinithi, 2022. "Labor investment efficiency and credit ratings," Finance Research Letters, Elsevier, vol. 48(C).
    29. Yang, Yifan & Deng, Yi, 2025. "ESG rating disagreement and dynamic capital structure adjustment," Pacific-Basin Finance Journal, Elsevier, vol. 93(C).
    30. Fangjun Wang & Luying Xu & Fei Guo & Junrui Zhang, 2020. "Loan Guarantees, Corporate Social Responsibility Disclosure and Audit Fees: Evidence from China," Journal of Business Ethics, Springer, vol. 166(2), pages 293-309, October.
    31. Wang, Li & Dai, Yunhao & Kong, Dongmin, 2021. "Air pollution and employee treatment," Journal of Corporate Finance, Elsevier, vol. 70(C).
    32. Florackis, Chris & Muktadir-Al-Mukit, Dewan & Sainani, Sushil & Zhang, Ziyang (John), 2025. "Stock market reaction to mandatory carbon disclosure announcements: The role of institutional investors," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 99(C).
    33. Zhu, Bo & Wang, Yiwei, 2024. "Green governance and stock price crash risk: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 96(PB).
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    35. Tarsisius Renald Suganda & Jungmu Kim, 2023. "An Empirical Study on the Relationship between Corporate Social Responsibility and Default Risk: Evidence in Korea," Sustainability, MDPI, vol. 15(4), pages 1-20, February.
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    38. Mohammed Benlemlih, 2017. "Corporate Social Responsibility and Firm Debt Maturity," Journal of Business Ethics, Springer, vol. 144(3), pages 491-517, September.
    39. Yi Zhang, 2022. "Analyst coverage and corporate social responsibility decoupling: Evidence from China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(3), pages 620-634, May.
    40. Fabio La Rosa & Francesca Bernini, 2022. "Punishing Vices or Rewarding Virtues? The Motivations for and Benefits of Ethical Ratings for Private Italian Companies," Journal of Business Ethics, Springer, vol. 176(3), pages 467-485, March.
    41. Wang, Kai & Li, Tingting & San, Ziyao & Gao, Hao, 2023. "How does corporate ESG performance affect stock liquidity? Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 80(C).
    42. Michael Shafer & Edward Szado, 2020. "Environmental, social, and governance practices and perceived tail risk," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(4), pages 4195-4224, December.
    43. Antonio García-Amate & Alicia Ramírez-Orellana & Alfonso A. Rojo-Ramírez & M. Pilar Casado-Belmonte, 2023. "Do ESG controversies moderate the relationship between CSR and corporate financial performance in oil and gas firms?," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 10(1), pages 1-14, December.
    44. Amir Gholami & John Sands & Habib Ur Rahman, 2022. "Environmental, Social and Governance Disclosure and Value Generation: Is the Financial Industry Different?," Sustainability, MDPI, vol. 14(5), pages 1-17, February.
    45. Gregor Dorfleitner & Johannes Grebler, 2020. "The social and environmental drivers of corporate credit ratings: international evidence," Business Research, Springer;German Academic Association for Business Research, vol. 13(3), pages 1343-1415, November.
    46. Díaz, Antonio & Escribano, Ana, 2021. "Sustainability premium in energy bonds," Energy Economics, Elsevier, vol. 95(C).
    47. Jiang, Zhiqian & Xu, Yue & Fang, Mei & Tang, Ziling & Tao, Chunhua, 2023. "How does the bond market price corporate ESG engagement? Evidence from China," Economic Analysis and Policy, Elsevier, vol. 78(C), pages 1406-1423.
    48. Hiroaki Kambe & Masatoshi Tamamura, 2022. "Effects of firm-level ESG performance on creditworthiness in Japanese listed companies," International Journal of Economic Policy Studies, Springer, vol. 16(2), pages 465-489, August.
    49. Xiaolan Bao & Qiaosheng Luo & Sicheng Li & M. James C. Crabbe & XiaoGuang Yue, 2020. "Corporate Social Responsibility and Maturity Mismatch of Investment and Financing: Evidence from Polluting and Non-Polluting Companies," Sustainability, MDPI, vol. 12(12), pages 1-22, June.
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    52. Yufen Wei & Qigui Liu & Jinbo Luo, 2023. "How does corporate social responsibility have influence on firms' access to trade credit," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(S1), pages 1321-1349, April.
    53. Haifeng Zhang & Zhuo Zhang & Ekaterina Steklova, 2020. "Do Companies Need Financial Flexibility for Sustainable Development?," Sustainability, MDPI, vol. 12(5), pages 1-14, February.
    54. Amir Gholami & Peter A. Murray & John Sands, 2022. "Environmental, Social, Governance & Financial Performance Disclosure for Large Firms: Is This Different for SME Firms?," Sustainability, MDPI, vol. 14(10), pages 1-21, May.
    55. Sibel Hoştut & Seçil Deren het Hof & Hediye Aydoğan & Gülten Adalı, 2023. "Who’s in and who’s out? Reading stakeholders and priority issues from sustainability reports in Turkey," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 10(1), pages 1-13, December.
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    57. Mahmoudian, Fereshteh & Yu, Dongning & Lu, Jing & Nazari, Jamal A. & Herremans, Irene M., 2023. "Does cost of debt reflect the value of quality greenhouse gas emissions reduction efforts and disclosure?," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 52(C).
    58. Mario Vaupel & David Bendig & Denise Fischer-Kreer & Malte Brettel, 2023. "The Role of Share Repurchases for Firms’ Social and Environmental Sustainability," Journal of Business Ethics, Springer, vol. 183(2), pages 401-428, March.
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    30. Cambrea, Domenico Rocco & Ponomareva, Yuliya & Pittino, Daniel & Minichilli, Alessandro, 2022. "Strings attached: Socioemotional wealth mixed gambles in the cash management choices of family firms," Journal of Family Business Strategy, Elsevier, vol. 13(3).
    31. Akihiro Yamada & Kento Fujita, 2022. "Impact of Parent Companies and Multiple Large Shareholders on Audit Fees in Stakeholder-Oriented Corporate Governance," Sustainability, MDPI, vol. 14(9), pages 1-20, May.
    32. Zhang, Xiaoliang & Zheng, Xiaojia, 2024. "Does carbon emission trading policy induce financialization of non-financial firms? Evidence from China," Energy Economics, Elsevier, vol. 131(C).
    33. Sara Longo & Antonio Parbonetti & Amedeo Pugliese, 2022. "Investors’ expectations around quantitative easing: does liquidity injection affect European banks equally?," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 26(3), pages 957-996, September.
    34. Jiang, Fuxiu & Cai, Wenjing & Wang, Xue & Zhu, Bing, 2018. "Multiple large shareholders and corporate investment: Evidence from China," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 66-83.
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    36. Jiang, Fuxiu & Shen, Yanyan & Wang, Xue, 2024. "Multiple large shareholders and analyst activities," Pacific-Basin Finance Journal, Elsevier, vol. 86(C).
    37. Samridhi Suman & Shveta Singh, 2022. "The Role of Multiple Large Shareholders in Dividend Payouts: Evidence from India," American Business Review, Pompea College of Business, University of New Haven, vol. 25(1), pages 120-151.

  64. Xiaolan Zheng & Sadok El Ghoul & Omrane Guedhami & Chuck C Y Kwok, 2013. "Collectivism and corruption in bank lending," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 44(4), pages 363-390, May.

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    1. Duan, Yuejiao & Guedhami, Omrane & Li, Xinming & Zhao, Daxuan, 2024. "Individualism and bank financial structure similarity," Journal of International Money and Finance, Elsevier, vol. 148(C).
    2. Dheera-aumpon, Siwapong, 2019. "Collectivism and connected lending," Research in International Business and Finance, Elsevier, vol. 48(C), pages 258-270.
    3. Osei-Tutu, Francis & Weill, Laurent, 2023. "Individualism reduces borrower discouragement," Journal of Economic Behavior & Organization, Elsevier, vol. 211(C), pages 370-385.
    4. Labidi, Chiraz & Laribi, Dorra & Ureche-Rangau, Loredana, 2021. "National culture and socially responsible fund flows," Emerging Markets Review, Elsevier, vol. 46(C).
    5. Cuervo-Cazurra, Alvaro, 2016. "Corruption in international business," Journal of World Business, Elsevier, vol. 51(1), pages 35-49.
    6. Karolyi, G. Andrew, 2016. "The gravity of culture for finance," Journal of Corporate Finance, Elsevier, vol. 41(C), pages 610-625.
    7. Varelas, Erotokritos, 2014. "Bank Industry Structure and Public Debt," MPRA Paper 58437, University Library of Munich, Germany.
    8. Vinicius V. Zanchi & Philipp Ehrl & Daniel T. G. N. Maciel, 2021. "Direct and Indirect Effects of Individualism and Institutions on Homicides," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 153(3), pages 1167-1195, February.
    9. Nistor, Simona & Fărcaș, Ioana Georgiana, 2025. "Does national culture affect macroprudential policy? An international investigation of regulatory behavior on macroprudential interventions," Journal of Behavioral and Experimental Finance, Elsevier, vol. 45(C).
    10. Zeng, Sipeng & Yu, Frank, 2024. "Does farming culture shape household financial decisions?," Journal of Corporate Finance, Elsevier, vol. 84(C).
    11. Zhang, Yun & Weng, Qingxiong & Zhu, Nan, 2018. "The relationships between electronic banking adoption and its antecedents: A meta-analytic study of the role of national culture," International Journal of Information Management, Elsevier, vol. 40(C), pages 76-87.
    12. Nirosha Hewa Wellalage & Stuart Locke & Helen Samujh, 2019. "Corruption, Gender and Credit Constraints: Evidence from South Asian SMEs," Journal of Business Ethics, Springer, vol. 159(1), pages 267-280, September.
    13. Pour, Eilnaz Kashefi & Uddin, Moshfique & Murinde, Victor & Amini, Shima, 2023. "CEO power, bank risk-taking and national culture: International evidence," Journal of Financial Stability, Elsevier, vol. 67(C).
    14. Noman Shaheer & Jingtao Yi & Sali Li & Liang Chen, 2019. "State-Owned Enterprises as Bribe Payers: The Role of Institutional Environment," Journal of Business Ethics, Springer, vol. 159(1), pages 221-238, September.
    15. Barry, Thierno Amadou & Lepetit, Laetitia & Strobel, Frank, 2016. "Bank ownership structure, lending corruption and the regulatory environment," Journal of Comparative Economics, Elsevier, vol. 44(3), pages 732-751.
    16. Hoang, Cong Huan & Ly, Kim Cuong & Xiao, Qin & Zhang, Xuan, 2023. "Does national culture impact trade credit provision of SMEs?," Economic Modelling, Elsevier, vol. 124(C).
    17. Ashraf, Badar Nadeem & Arshad, Sidra, 2017. "Foreign bank subsidiaries’ risk-taking behavior: Impact of home and host country national culture," Research in International Business and Finance, Elsevier, vol. 41(C), pages 318-335.
    18. Huang, Xiaoxia & Jiang, Yanchen & Mallick, Sushanta, 2025. "Endorsement and firm financing: Evidence from government venture capital market in China," The British Accounting Review, Elsevier, vol. 57(3).
    19. Chourou, Lamia & Saadi, Samir & Zhu, Hui, 2018. "How does national culture influence IPO underpricing?," Pacific-Basin Finance Journal, Elsevier, vol. 51(C), pages 318-341.
    20. Xiong, Hao & Hou, Fei & Li, Hanwen & Wang, Huabing, 2020. "Does rice farming shape audit quality: Evidence from signing auditors level analysis," Economic Modelling, Elsevier, vol. 91(C), pages 403-420.
    21. Jiang, Liangliang & Wang, Chong, 2024. "Lending corruption and bank loan contracting: Cross-Country evidence," Journal of Contemporary Accounting and Economics, Elsevier, vol. 20(2).
    22. Lu, Weijie & Niu, Geng & Zhou, Yang, 2021. "Individualism and financial inclusion," Journal of Economic Behavior & Organization, Elsevier, vol. 183(C), pages 268-288.
    23. Jeleta Kebede & Vincent Tawiah & Ernest Gyapong, 2023. "The effect of corruption on microfinance loan portfolio: A semiparametric analysis," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 31(1), pages 241-268, January.
    24. Simran Jit Kaur & Liaqat Ali, 2021. "Understanding bank employees’ perception towards technology enabled banking: a developing country perspective," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 26(3), pages 129-143, September.
    25. Boubakri, Narjess & Mirzaei, Ali & Samet, Anis, 2017. "National culture and bank performance: Evidence from the recent financial crisis," Journal of Financial Stability, Elsevier, vol. 29(C), pages 36-56.
    26. Sadok El Ghoul & Omrane Guedhami & Chuck C. Y. Kwok & Xiaolan Zheng, 2016. "Collectivism and Corruption in Commercial Loan Production: How to Break the Curse?," Journal of Business Ethics, Springer, vol. 139(2), pages 225-250, December.
    27. Jin, Justin Yiqiang & Kanagaretnam, Kiridaran & Liu, Yi & Liu, Ning, 2019. "Banks’ loan growth, loan quality, and social capital," Journal of Behavioral and Experimental Finance, Elsevier, vol. 21(C), pages 83-102.
    28. Dieter Vanwalleghem & Carmela D’avino, 2025. "Functional distance and US global banks’ foreign branch lending," Post-Print hal-05147313, HAL.
    29. José María Díez-Esteban & Jorge Bento Farinha & Conrado Diego García-Gómez, 2019. "How does national culture affect corporate risk-taking?," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 9(1), pages 49-68, March.
    30. Gholipour, Hassan F. & Tajaddini, Reza & Pham, Thi Ngoc Tram, 2020. "Real estate market transparency and default on mortgages," Research in International Business and Finance, Elsevier, vol. 53(C).
    31. Tho Pham & Oleksandr Talavera, 2017. "Discrimination, social capital, and financial constraints: The case of Vietnam," WIDER Working Paper Series wp-2017-67, World Institute for Development Economic Research (UNU-WIDER).
    32. Allison, Lee & Liu, Yu & Murtinu, Samuele & Wei, Zuobao, 2023. "Gender and firm performance around the world: The roles of finance, technology and labor," Journal of Business Research, Elsevier, vol. 154(C).
    33. Gill, Balbinder Singh & Choi, Jongmoo Jay & John, Kose, 2024. "Firm leverage and employee pay: The moderating role of CEO leadership style," International Review of Financial Analysis, Elsevier, vol. 95(PA).
    34. Jerg Gutmann & Viola Lucas, 2018. "Private-Sector Corruption: Measurement and Cultural Origins," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 138(2), pages 747-770, July.
    35. Yi, Jingtao & Teng, Da & Meng, Shuang, 2018. "Foreign ownership and bribery: Agency and institutional perspectives," International Business Review, Elsevier, vol. 27(1), pages 34-45.
    36. Conlon, Thomas & Huan, Xing & Muckley, Cal B., 2024. "Does national culture influence malfeasance in banks around the world?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 90(C).
    37. El Ghoul, Sadok & Fu, Zhengwei & Guedhami, Omrane, 2021. "Zombie firms: Prevalence, determinants, and corporate policies," Finance Research Letters, Elsevier, vol. 41(C).
    38. Yan, Ziqiao & Li, Yue, 2018. "Signaling through government subsidy: Certification or endorsement," Finance Research Letters, Elsevier, vol. 25(C), pages 90-95.
    39. Nicolas, Christina & Tarazi, Amine & Ozturk Danisman, Gamze, 2023. "Disentangling the effect of Trust on Bank Lending," Journal of Economic Behavior & Organization, Elsevier, vol. 210(C), pages 360-378.
    40. Boris Nikolaev & Raufhon Salahodjaev, 2017. "Historical Prevalence of Infectious Diseases, Cultural Values, and the Origins of Economic Institutions," Kyklos, Wiley Blackwell, vol. 70(1), pages 97-128, February.
    41. Kostas Pappas & Alice Liang Xu, 2023. "Do foreign lenders' national cultures affect loan pricing?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(2), pages 2006-2036, April.
    42. Martin-Flores, Jose M., 2024. "Is bank misconduct related to social capital? Evidence from U.S. banks," Journal of Banking & Finance, Elsevier, vol. 167(C).
    43. Bertrand, Jérémie & Klein, Paul-Olivier & Pasiouras, Fotios, 2024. "National culture of secrecy and firms’ access to credit," Journal of Banking & Finance, Elsevier, vol. 168(C).
    44. Breuer, Wolfgang & Knetsch, Andreas, 2022. "Informal authority and economic outcomes of family firms: An issue of national power distance," International Review of Financial Analysis, Elsevier, vol. 81(C).
    45. Samia Nasreen & Mehwish Gulzar & Muhammad Afzal & Muhammad Umar Farooq, 2024. "The Role of Corruption, Transparency, and Regulations on Asian Banks’ Performance: An Empirical Analysis," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(2), pages 6475-6506, June.
    46. James B. Ang, 2018. "Culture, Legal Origins and Financial Development," Economic Growth Centre Working Paper Series 1809, Nanyang Technological University, School of Social Sciences, Economic Growth Centre.
    47. Saad, Mohsen & Samet, Anis, 2020. "Collectivism and commonality in liquidity," Journal of Business Research, Elsevier, vol. 116(C), pages 137-162.
    48. Fărcaș, Ioana Georgiana & Nistor, Simona, 2023. "The impact of culture on government interventions in the banking sector," Economic Modelling, Elsevier, vol. 129(C).
    49. Erotokritos Varelas, 2015. "Number of Banks, Public Debt, and Workable Competition," Review of Economics & Finance, Better Advances Press, Canada, vol. 5, pages 41-51, February.
    50. Li, Guangzi & Chan, Kam C., 2021. "Anti-corruption intensity and loan contracting: Evidence from non-state owned firms in China," Emerging Markets Review, Elsevier, vol. 49(C).
    51. Michael A. Sartor & Paul W. Beamish, 2020. "Integration-oriented strategies, host market corruption and the likelihood of foreign subsidiary exit from emerging markets," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 51(3), pages 414-431, April.
    52. Vanwalleghem, Dieter & D’Avino, Carmela, 2025. "Functional distance and US global banks’ foreign branch lending," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 103(C).
    53. Gaganis, Chrysovalantis & Hasan, Iftekhar & Pasiouras, Fotios, 2020. "National culture and housing credit," Journal of Empirical Finance, Elsevier, vol. 56(C), pages 19-41.
    54. Sushobhan Mahata & Rohan Kanti Khan & Ranjanendra Narayan Nag & Sharmi Sen, 2023. "Trade liberalization, wilful credit defaults and bank bribery in a credit‐constrained economy," Review of Development Economics, Wiley Blackwell, vol. 27(4), pages 2183-2213, November.
    55. Ratan J. S. Dheer, 2017. "Cross-national differences in entrepreneurial activity: role of culture and institutional factors," Small Business Economics, Springer, vol. 48(4), pages 813-842, April.
    56. Ni, Yingzhao & Ding, Wenjie & Li, Donghui & Xing, Lu, 2024. "Internal information asymmetry and power distance," Research in International Business and Finance, Elsevier, vol. 71(C).
    57. Fotios Pasiouras & Elie Bouri & David Roubaud & Emilios Galariotis, 2021. "Culture and Multiple Firm–Bank Relationships: A Matter of Secrecy and Trust?," Journal of Business Ethics, Springer, vol. 174(1), pages 221-249, November.
    58. An, Jiafu, 2020. "Is there an employee-based gender gap in informal financial markets? International evidence," Journal of Corporate Finance, Elsevier, vol. 65(C).
    59. Vijay S. Sampath & Noushi Rahman, 2019. "Bribery in MNEs: The Dynamics of Corruption Culture Distance and Organizational Distance to Core Values," Journal of Business Ethics, Springer, vol. 159(3), pages 817-835, October.
    60. Boubakri, Narjess & Cao, Zhongyu & El Ghoul, Sadok & Guedhami, Omrane & Li, Xinming, 2023. "National culture and bank liquidity creation," Journal of Financial Stability, Elsevier, vol. 64(C).
    61. Saeed, Abubakr & Zamir, Farah, 2021. "How does CSR disclosure affect dividend payments in emerging markets?," Emerging Markets Review, Elsevier, vol. 46(C).
    62. Geng Niu & Yang Zhou & Weijie Lu & Hongwu Gan, 2022. "Religiosity and corruption in bank lending," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(9-10), pages 1957-1983, October.
    63. El Ghoul, Sadok & Zheng, Xiaolan, 2016. "Trade credit provision and national culture," Journal of Corporate Finance, Elsevier, vol. 41(C), pages 475-501.
    64. Bermpei, Theodora & Degl’Innocenti, Marta & Kalyvas, Antonios Nikolaos & Zhou, Si, 2023. "Lender individualism and monitoring: Evidence from syndicated loans," Journal of Financial Stability, Elsevier, vol. 66(C).
    65. Bahoo, Salman, 2020. "Corruption in banks: A bibliometric review and agenda," Finance Research Letters, Elsevier, vol. 35(C).
    66. Diego P. Guisande & Maretno Agus Harjoto & Andreas G. F. Hoepner & Conall O’Sullivan, 2024. "Ethics and Banking: Do Banks Divest Their Kind?," Journal of Business Ethics, Springer, vol. 192(1), pages 191-223, June.
    67. Ashraf, Badar Nadeem & Zheng, Changjun & Arshad, Sidra, 2016. "Effects of national culture on bank risk-taking behavior," Research in International Business and Finance, Elsevier, vol. 37(C), pages 309-326.
    68. Allen N. Berger & Omrane Guedhami & Destan Kirimhan & Xinming Li & Daxuan Zhao, 2024. "Universal banking powers and liquidity creation," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 55(6), pages 764-781, August.
    69. Jiang, Wei & Luo, Daokang & Wang, Liwen & Zheng Zhou, Kevin, 2024. "Foreign ownership and bribery in Chinese listed firms: An institutional perspective," Journal of Business Research, Elsevier, vol. 174(C).
    70. Samuel K. Agyei & Anokye M. Adam & Otuo S. Agyemang, 2019. "Financial Literacy, Cultural Dominance, and Financial Well‐Being of SME Owners in Ghana," Poverty & Public Policy, John Wiley & Sons, vol. 11(3), pages 222-237, September.
    71. Lavezzolo, Sebastián & Rodríguez-Lluesma, Carlos & Elvira, Marta M., 2018. "National culture and financial systems: The conditioning role of political context," Journal of Business Research, Elsevier, vol. 85(C), pages 60-72.
    72. Bitar, Mohammad & Tarazi, Amine, 2022. "Individualism, formal institutional environments, and bank capital decisions," Journal of Corporate Finance, Elsevier, vol. 76(C).
    73. Reza Tajaddini & Hassan F. Gholipour, 2017. "National Culture and Default on Mortgages," International Review of Finance, International Review of Finance Ltd., vol. 17(1), pages 107-133, March.
    74. Chui, Andy C.W. & Kwok, Chuck C.Y. & (Stephen) Zhou, Gaoguang, 2016. "National culture and the cost of debt," Journal of Banking & Finance, Elsevier, vol. 69(C), pages 1-19.
    75. Cao, Zhongyu & El Ghoul, Sadok & Guedhami, Omrane & Kwok, Chuck, 2020. "National culture and the choice of exchange rate regime," Journal of International Money and Finance, Elsevier, vol. 101(C).
    76. Usman, Muhammad & Umar, Zaghum & Choi, Sun-Yong & Teplova, Tamara, 2024. "Quantifying endogenous and exogenous shocks to financial sector systemic risk: A comparison of GFC and COVID-19," The Quarterly Review of Economics and Finance, Elsevier, vol. 94(C), pages 281-293.
    77. Kaakeh, Abdulkader & Parker, Simon C., 2025. "The impact of public corruption on marketplace lending outcomes," Journal of Banking & Finance, Elsevier, vol. 177(C).
    78. Wang, Jianxin & Huang, Cailing & Xu, Lin & Zhang, Junhuan, 2023. "Drinking into friends: Alcohol drinking culture and CEO social connections," Journal of Economic Behavior & Organization, Elsevier, vol. 212(C), pages 982-995.
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    80. Dai, Na & Nahata, Rajarishi & Brauner, Aaron, 2022. "Does individualism matter for hedge funds? A cross-country examination," Journal of Corporate Finance, Elsevier, vol. 72(C).
    81. Asteriou, Dimitrios & Pilbeam, Keith & Tomuleasa, Iuliana, 2021. "The impact of corruption, economic freedom, regulation and transparency on bank profitability and bank stability: Evidence from the Eurozone area," Journal of Economic Behavior & Organization, Elsevier, vol. 184(C), pages 150-177.
    82. Xu, Jian & Liu, Yu & Abdoh, Hussein, 2022. "Foreign ownership and productivity," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 624-642.
    83. Chandan Jha & Bibhudutta Panda, 2017. "Individualism and Corruption: A Cross-Country Analysis," Economic Papers, The Economic Society of Australia, vol. 36(1), pages 60-74, March.
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    85. Chrysovalantis Gaganis & Fotios Pasiouras & Menelaos Tasiou, 2024. "Corruption in Bank Lending: The Role of Culturally Endorsed Leadership Prototypes," Journal of Business Ethics, Springer, vol. 193(1), pages 193-216, August.
    86. Song, Siwen & Jun, Aelee & Luo, Tianpei & Ma, Shiguang, 2024. "Political legitimacy and CSR reporting: Evidence from non-SOEs in China," Global Finance Journal, Elsevier, vol. 60(C).
    87. Yongcuo Zhaxi & Yukihiro Yasuda, 2024. "Determinants of Zombie Firms: The Impact of Corporate Insolvency Efficiency and Cultural Factors," JRFM, MDPI, vol. 17(8), pages 1-13, July.
    88. Dang, Huong Dieu, 2023. "Retrospective wisdom: Long-term orientation and the rating downgrades of financial institutions," Global Finance Journal, Elsevier, vol. 57(C).
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    90. Akbar, Syed Waqar & Rehman, Ajid Ur & Bouri, Elie & Ijaz, Muhammad Shahzad & Arshad, Imran, 2024. "Socio-economic issues and bank stability: The moderating role of competition," Research in International Business and Finance, Elsevier, vol. 71(C).
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    93. Dale Griffin & Omrane Guedhami & Chuck C Y Kwok & Kai Li & Liang Shao, 2017. "National culture: The missing country-level determinant of corporate governance," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 48(6), pages 740-762, August.
    94. Guojian Hu & Xiaomin Liang & Yuqi Lu & Yu Chen, 2021. "Interprovincial separation between headquarters and registered addresses: The case of listed companies in China," Growth and Change, Wiley Blackwell, vol. 52(2), pages 1080-1098, June.
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    96. Dombi, Ákos & Grigoriadis, Theocharis N. & Zhu, Junbing, 2024. "Antiquity, capitalism & development: The finance-growth perspective," Emerging Markets Review, Elsevier, vol. 59(C).
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  65. Sadok El Ghoul & Omrane Guedhami & Yang Ni & Jeffrey Pittman & Samir Saadi, 2013. "Does Information Asymmetry Matter to Equity Pricing? Evidence from Firms’ Geographic Location," Contemporary Accounting Research, John Wiley & Sons, vol. 30(1), pages 140-181, March.

    Cited by:

    1. Kun Su, 2019. "Does religion benefit corporate social responsibility (CSR)? Evidence from China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(6), pages 1206-1221, November.
    2. Haiquan Wu & Wenli Liao & Zhifang Zhou & Yi Li, 2021. "Can Financial Constraints and Regulatory Distance Reduce Corporate Environmental Irresponsibility?," Sustainability, MDPI, vol. 13(23), pages 1-25, November.
    3. Sanggyu Kang & Chune Young Chung & Amirhossein Fard, 2024. "Does geographic or market proximity matter? Evidence from institutional investor monitoring on earnings attributes in US cross‐listed stocks," Bulletin of Economic Research, Wiley Blackwell, vol. 76(2), pages 443-469, April.
    4. George D. Cashman & David M. Harrison & Michael J. Seiler & Hainan Sheng, 2019. "The Impact of Geographic and Cultural Dispersion on Information Opacity," The Journal of Real Estate Finance and Economics, Springer, vol. 59(2), pages 166-208, August.
    5. Elmawazini, Khaled & Chkir, Imed & Mrad, Fatma & Rjiba, Hatem, 2022. "Does green technology innovation matter to the cost of equity capital?," Research in International Business and Finance, Elsevier, vol. 62(C).
    6. Liu, Haiming & Liang, Quanxi & Ling, Leng, 2022. "Underrepresentation of female CEOs in China: The role of culture, market forces, and foreign experience of directors," Research in International Business and Finance, Elsevier, vol. 63(C).
    7. Wang, Xiaodong & Feng, Guimei & Xu, Jiayi & Zhang, Li, 2024. "Information asymmetry and public response: Evidence from the housing market," Economics Letters, Elsevier, vol. 244(C).
    8. Tan, Xue & Yin, Jingwei & Lin, Ning, 2025. "The unforgettable past: The long-term impact of war on corporate tax avoidance in modern China," Research in International Business and Finance, Elsevier, vol. 77(PA).
    9. Yufeng Xia & Peisen Liu, 2022. "Does Bank Competition Promote Corporate Green Innovation? Evidence from the Location of Bank Branches," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 30(2), pages 84-116, March.
    10. Li, Yuanling & Hu, Xuetong & Liu, Xudong & Dai, Zhongliang & Xiao, Zhongyi, 2025. "The role of Confucianism in audit firms in mitigating corporate financial restatements," Journal of Asian Economics, Elsevier, vol. 100(C).
    11. Wenjun Wang, 2023. "Can experience mitigate precautionary bidding? Evidence from a quasi-experiment at an IPO auction," Journal of Asset Management, Palgrave Macmillan, vol. 24(2), pages 148-163, March.
    12. Chang, Yingying & Du, Xingqiang & Zeng, Quan, 2021. "Does environmental information disclosure mitigate corporate risk? Evidence from China," Journal of Contemporary Accounting and Economics, Elsevier, vol. 17(1).
    13. Xingqiang Du & Jianying Weng & Quan Zeng & Hongmei Pei, 2017. "Culture, Marketization, and Owner-Manager Agency Costs: A Case of Merchant Guild Culture in China," Journal of Business Ethics, Springer, vol. 143(2), pages 353-386, June.
    14. Wu, Yizhong & Lee, Chien-Chiang & Lee, Chi-Chuan & Peng, Diyun, 2022. "Geographic proximity and corporate investment efficiency: Evidence from high-speed rail construction in China," Journal of Banking & Finance, Elsevier, vol. 140(C).
    15. Rjiba, Hatem & Saadi, Samir & Boubaker, Sabri & Ding, Xiaoya (Sara), 2021. "Annual report readability and the cost of equity capital," Journal of Corporate Finance, Elsevier, vol. 67(C).
    16. Fenghua Pan & Bofei Yang, 2019. "Financial development and the geographies of startup cities: evidence from China," Small Business Economics, Springer, vol. 52(3), pages 743-758, March.
    17. Jin, Zhi & Yang, Yinan & Zhang, Liguang, 2021. "Geographic proximity and cross-region merger and acquisitions: Evidence from the opening of high-speed rail in China," Pacific-Basin Finance Journal, Elsevier, vol. 68(C).
    18. Ben Hmiden, Oussama & Rjiba, Hatem & Saadi, Samir, 2022. "Competition through environmental CSR engagement and cost of equity capital," Finance Research Letters, Elsevier, vol. 47(PB).
    19. Min Bai & Samir Harith, 2023. "Measuring SMEs Risk – Evidence from Malaysia," SN Business & Economics, Springer, vol. 3(7), pages 1-32, July.
    20. Elmawazini, Khaled & Saadi, Samir & Sassi, Syrine & Khiyar, Khiyar Abdalla & Ali, Mohammed, 2023. "Do data breach disclosure laws matter to shareholder risk?," Finance Research Letters, Elsevier, vol. 53(C).
    21. Xingqiang Du & Yingjie Du & Quan Zeng & Hongmei Pei & Yingying Chang, 2016. "Religious atmosphere, law enforcement, and corporate social responsibility: Evidence from China," Asia Pacific Journal of Management, Springer, vol. 33(1), pages 229-265, March.
    22. Qianghua Guo & Yidan Wei, 2025. "Confucianism and corporate environmental protection investment: Evidence from heavily polluting listed companies in China," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 46(4), pages 1973-1992, June.
    23. Schreder, Max, 2018. "Idiosyncratic information and the cost of equity capital: A meta-analytic review of the literature," Journal of Accounting Literature, Elsevier, vol. 41(C), pages 142-172.
    24. Kershen Huang & Chenguang Shang & Chi Zhang, 2021. "Working hard for long‐distance relationships: Geographic proximity and relationship‐specific investments," Financial Management, Financial Management Association International, vol. 50(4), pages 985-1011, December.
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    35. Anthi Avloniti & Christiana Anaxagorou & Ioanna Stylianou & Duc Khuong Nguyen & Kamila Janovská, 2025. "Global Footprint, Local Imprint: How Institutions and Distance Influence the Corporate Social Performance of Foreign Subsidiaries Across Service Industries," Management International Review, Springer, vol. 65(3), pages 539-589, June.
    36. Michael Cichello & Douglas Lamdin, 2016. "The location of initial public offering headquarters: An empirical examination," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 40(1), pages 1-18, January.
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    38. Amairi, Haifa & Zantour, Ahlem & Saadi, Samir, 2021. "Information dissemination and price discovery," Finance Research Letters, Elsevier, vol. 38(C).
    39. Christina M. Lewellen, 2023. "Tax haven incorporation and financial reporting transparency," Review of Accounting Studies, Springer, vol. 28(3), pages 1811-1855, September.
    40. Ouyang, Caiyue & Xiong, Jiacai & Liu, Li & Yao, Jun, 2024. "Geographic proximity and trade credit: Evidence from a quasi-natural experiment," Journal of Corporate Finance, Elsevier, vol. 84(C).
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    43. Chen, Shihua & Ye, Yan & Jia, Fei & Wang, Chengqi, 2022. "Accounting for the role of culture in board directors’ dissent," Research in International Business and Finance, Elsevier, vol. 61(C).
    44. Xingqiang Du, 2016. "Does Confucianism Reduce Board Gender Diversity? Firm-Level Evidence from China," Journal of Business Ethics, Springer, vol. 136(2), pages 399-436, June.
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    48. Cai, Yuxin & Lyu, Huaili & Peng, Meng, 2024. "The role of sponsor representatives in SEO underpricing: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 89(PB), pages 30-45.
    49. David Cademartori-Rosso & Berta Silva-Palavecinos & Ricardo Campos-Espinoza & Hanns de la Fuente-Mella, 2017. "An Econometric Analysis for the Bid-Ask Spread in the Emerging Chilean Capital Market," Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 1(7), pages 90-101, May.
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    51. Mariya Letdin & C. Stace Sirmans & G. Stacy Sirmans, 2024. "Spread Too Thin: REIT Asset Dispersion and Divergence of Opinion," The Journal of Real Estate Finance and Economics, Springer, vol. 69(2), pages 201-227, August.
    52. Liu, Haiming & Chiang, Yao-Min, 2022. "Confucianism and IPO underpricing," Pacific-Basin Finance Journal, Elsevier, vol. 71(C).
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    55. Wenjun Wang, 2024. "You scratch my back and i scratch yours: evidence from relationship-based bidding in IPO auctions," Review of Quantitative Finance and Accounting, Springer, vol. 62(4), pages 1593-1613, May.
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    57. Jamal A. Al‐Khasawneh & Paul Dion & Naceur Essaddam & Tashfeen Hussain, 2023. "Is the cost of equity a mere function of leverage? The case of bond IPOs," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(1), pages 58-78, January.
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    59. Qing Sophie Wang & Lihan Chen & Shaojie Lai & Hamish D. Anderson, 2026. "Social Credit and Trade Credit: A Coevolutionary Perspective," Journal of Business Ethics, Springer, vol. 204(2), pages 273-308, March.
    60. Yanyun Li & Faqin Lin, 2022. "Beyond tariff evasion: bypass effect of FTAs to circumvent technical barriers," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 158(4), pages 1085-1105, November.
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    62. Uğurlu-Yıldırım, Ecenur & Şendeniz-Yüncü, İlkay, 2021. "Additional factor in asset-pricing: Institutional ownership," Finance Research Letters, Elsevier, vol. 40(C).
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    67. Boubakri, Narjess & Guedhami, Omrane & Saffar, Walid, 2016. "Geographic location, foreign ownership, and cost of equity capital: Evidence from privatization," Journal of Corporate Finance, Elsevier, vol. 38(C), pages 363-381.
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  66. Najah Attig & Sean Cleary & Sadok El Ghoul & Omrane Guedhami, 2013. "Institutional Investment Horizons and the Cost of Equity Capital," Financial Management, Financial Management Association International, vol. 42(2), pages 441-477, June.

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    1. Jiang, George J. & Liu, Chang, 2021. "Getting on board: The monitoring effect of institutional directors," Journal of Corporate Finance, Elsevier, vol. 67(C).
    2. Peng Han & Feng Niu & Wunhong Su, 2021. "Influencing Factors of Institutional Investors Shareholding Stability," SAGE Open, , vol. 11(4), pages 21582440211, October.
    3. Lou, Zhukun & Li, Sujie & Tong, Jingyi & Zhao, Jing, 2025. "ESG rating disagreement and the cost of equity capital," Global Finance Journal, Elsevier, vol. 66(C).
    4. Yamina Chouaibi & Matteo Rossi & Ghazi Zouari, 2021. "The Effect of Corporate Social Responsibility and the Executive Compensation on Implicit Cost of Equity: Evidence from French ESG Data," Sustainability, MDPI, vol. 13(20), pages 1-17, October.
    5. Zhang, Qiyu & Zhang, Xiaoxiang & Chen, Ding & Strange, Roger, 2022. "Market discipline or rent extraction: Impacts of share trading by foreign institutional investors in different corporate governance and investor protection environments," International Review of Financial Analysis, Elsevier, vol. 79(C).
    6. He, Wen & Mi, Lin, 2022. "Institutional investors’ horizon and equity-financed payouts," Journal of Banking & Finance, Elsevier, vol. 134(C).
    7. Rjiba, Hatem & Saadi, Samir & Boubaker, Sabri & Ding, Xiaoya (Sara), 2021. "Annual report readability and the cost of equity capital," Journal of Corporate Finance, Elsevier, vol. 67(C).
    8. Nguyen, Van Ha & Nguyen, Thanh Hang & Ho, Ly & Dang, Tung Lam, 2025. "When reputation hurts: ESG risk and the cost of equity capital around the world," Journal of Multinational Financial Management, Elsevier, vol. 80(C).
    9. Simon Döring & Wolfgang Drobetz & Sadok El Ghoul & Omrane Guedhami & Henning Schröder, 2021. "Institutional investment horizons and firm valuation around the world," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(2), pages 212-244, March.
    10. Ben Hmiden, Oussama & Rjiba, Hatem & Saadi, Samir, 2022. "Competition through environmental CSR engagement and cost of equity capital," Finance Research Letters, Elsevier, vol. 47(PB).
    11. Döring, Simon & Drobetz, Wolfgang & El Ghoul, Sadok & Guedhami, Omrane & Schröder, Henning, 2021. "Cross-country determinants of institutional investors’ investment horizons," Finance Research Letters, Elsevier, vol. 39(C).
    12. El Ghoul, Sadok & Fu, Zhengwei & Guedhami, Omrane & Saadi, Samir, 2023. "Firm inflexibility and the implied cost of equity," Finance Research Letters, Elsevier, vol. 52(C).
    13. (Grace) Qing Hao, 2014. "Institutional Shareholder Investment Horizons and Seasoned Equity Offerings," Financial Management, Financial Management Association International, vol. 43(1), pages 87-111, March.
    14. Kim, Hyun-Dong & Kim, Taeyeon & Kim, Yura & Park, Kwangwoo, 2019. "Do long-term institutional investors promote corporate social responsibility activities?," Journal of Banking & Finance, Elsevier, vol. 101(C), pages 256-269.
    15. Cheong, Chee Seng & Yu, Chia-Feng (Jeffrey) & Zurbruegg, Ralf & Brockman, Paul, 2021. "Tournament incentives and institutional ownership," International Review of Economics & Finance, Elsevier, vol. 74(C), pages 418-433.
    16. Abdelsalam, Omneya & Chantziaras, Antonios & Batten, Jonathan A. & Aysan, Ahmet Faruk, 2021. "Major shareholders’ trust and market risk: Substituting weak institutions with trust," Journal of Corporate Finance, Elsevier, vol. 66(C).
    17. Li, Jinxian & Gong, Yujing & Ho, Kung-Cheng & Zhang, Cheng, 2023. "Trust and price efficiency," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 89(C).
    18. Baker, H. Kent & Rjiba, Hatem & Saadi, Samir & Sassi, Syrine, 2024. "Does litigation risk matter for the choice between bank debt and public debt?," Journal of Corporate Finance, Elsevier, vol. 89(C).
    19. Najah Attig & Narjess Boubakri & Sadok El Ghoul & Omrane Guedhami, 2016. "Firm Internationalization and Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 134(2), pages 171-197, March.
    20. Zhou, Taiyun & Liu, Mingxuan & Zhang, Xiyu & Qi, Zheng & Qin, Ni, 2024. "Does institutional ownership affect corporate social responsibility? Evidence from China," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 84-98.
    21. Amairi, Haifa & Gallali, Mohamed Imen & Sassi, Syrine, 2022. "Market pressure and cost of equity: Revisited," Finance Research Letters, Elsevier, vol. 47(PB).
    22. Shirasu, Yoko & Yasuda, Yukihiro, 2025. "Do foreign bank investors promote acquirer bank value in Asia-Pacific countries?," The Quarterly Review of Economics and Finance, Elsevier, vol. 100(C).
    23. Boubaker, Sabri & Chourou, Lamia & Saadi, Samir & Zhong, Ligang, 2019. "Does institutional investor horizon influence US corporate financing decisions?," International Review of Financial Analysis, Elsevier, vol. 63(C), pages 382-394.
    24. Benkraiem, Ramzi & Goutte, Stéphane & Saadi, Samir & Zhu, Hui & Zhu, Steven, 2022. "Investor heterogeneity and negative skewness in stock returns: Evidence from institutional investors," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 81(C).
    25. Saci, Fateh & Jasimuddin, Sajjad M., 2021. "Does the research done by the institutional investors affect the cost of equity capital?," Finance Research Letters, Elsevier, vol. 41(C).
    26. Zhang, Xueying & Feng, Chao & Walker, Thomas & Barabanov, Sergey, 2025. "Restrictive bond covenants: Evidence from family firms in China," Pacific-Basin Finance Journal, Elsevier, vol. 89(C).
    27. Zhong, Huaming & Al-Duais, Zinb Abduljabbar Mohamed & Peng, Biyu, 2023. "The impact of idiosyncratic risk on corporate financialisation——Evidence from China," International Review of Financial Analysis, Elsevier, vol. 86(C).
    28. Collin Gilstrap & Alex Petkevich & Ozcan Sezer & Pavel Teterin, 2022. "REIT Debt Pricing and Ownership Structure," The Journal of Real Estate Finance and Economics, Springer, vol. 64(4), pages 546-589, May.
    29. Yin, Chao & Ward, Charles & Tsolacos, Sotiris, 2018. "Motivated monitoring: The importance of the institutional investment horizon," International Review of Financial Analysis, Elsevier, vol. 60(C), pages 197-212.
    30. Wang, Jianli & Wang, Shaolin & Dong, Minghua & Wang, Hongxia, 2024. "ESG rating disagreement and stock returns: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 91(C).
    31. Hasan, Mostafa Monzur & Cheung, Adrian (Wai Kong) & Marwick, Trevor, 2022. "Corporate sexual orientation equality policies and the cost of equity capital," Journal of Behavioral and Experimental Finance, Elsevier, vol. 34(C).
    32. Jie Chen & Xicheng Liu & Wei Song, 2018. "CEO general managerial skills and corporate social responsibility," Working Papers 2018-16, Swansea University, School of Management.
    33. Najah Attig & Sean Cleary, 2014. "Organizational Capital and Investment-Cash Flow Sensitivity: The Effect of Management Quality Practices," Financial Management, Financial Management Association International, vol. 43(3), pages 473-504, September.
    34. Zhang, Lin & Cui, Xiaomeng & Jing, Wei, 2024. "Who are responsible venture capitalists? The effect of business experience," International Review of Economics & Finance, Elsevier, vol. 96(PA).
    35. Francis, Bill B. & Hasan, Iftekhar & Zhu, Yun, 2021. "The impact of political uncertainty on institutional ownership," Journal of Financial Stability, Elsevier, vol. 57(C).
    36. Hossain, Ashrafee Tanvir & Hossain, Takdir & Kryzanowski, Lawrence, 2021. "Political corruption and corporate payouts," Journal of Banking & Finance, Elsevier, vol. 123(C).
    37. Alexandre Garel & Arthur Petit-Romec, 2020. "Investor Horizons and Employee Satisfaction: A test of the long-term perspective vision of CSR," Economics Bulletin, AccessEcon, vol. 40(1), pages 765-781.
    38. Cheng, Xin & (Helen) Wang, He & Wang, Xianjue, 2022. "Common institutional ownership and corporate social responsibility," Journal of Banking & Finance, Elsevier, vol. 136(C).
    39. Fu, Xudong & Tang, Tian & Yan, Xinyan, 2019. "Why do institutions like corporate social responsibility investments? evidence from horizon heterogeneity," Journal of Empirical Finance, Elsevier, vol. 51(C), pages 44-63.
    40. Wang, Bin & Luo, Yan, 2024. "Institutional investors, heterogeneity, and capital structure decisions: Evidence from an emerging market," Research in International Business and Finance, Elsevier, vol. 68(C).
    41. Breuer, Wolfgang & Trauzettel, Till & Müller, Torbjörn & Salzmann, Astrid, 2024. "An International Perspective on Corporate Social Responsibility, Investor Time Preferences, and Cost of Equity," International Business Review, Elsevier, vol. 33(1).
    42. Asad Ali Rind & Aitzaz Ahsan Alias Sarang & Ameet Kumar & Muhammad Shahbaz, 2023. "Does financial fraud affect implied cost of equity?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(4), pages 4139-4155, October.
    43. Chwee Ming Tee & Angelina Seow Voon Yee & Aik Lee Chong, 2018. "Institutional Investors’ Monitoring and Stock Price Crash Risk: Evidence from Politically Connected Firms," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 21(04), pages 1-35, December.
    44. Mohamed Toukabri & Mohammed Abdulkareem Adawi, 2025. "Revisiting the relation between geographical diversification and corporate social responsibility: the role of segment disclosure (SFAS 131) and institutional environment," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 27(10), pages 24455-24490, October.
    45. Chacko Jacob & Jijo Lukose P.J., 2019. "Institutional ownership and the investment-cash flow sensitivity Evidence from India," Working papers 329, Indian Institute of Management Kozhikode.
    46. Brian Boscaljon & Hongrui Feng & Yuecheng Jia & Qian Sun, 2021. "Government customers, institutional investment horizons, and liquidity risk," Review of Quantitative Finance and Accounting, Springer, vol. 56(1), pages 273-296, January.
    47. Ghaly, Mohamed & Dang, Viet Anh & Stathopoulos, Konstantinos, 2020. "Institutional investors' horizons and corporate employment decisions," Journal of Corporate Finance, Elsevier, vol. 64(C).
    48. Boubaker, Sabri & Saffar, Walid & Sassi, Syrine, 2018. "Product market competition and debt choice," Journal of Corporate Finance, Elsevier, vol. 49(C), pages 204-224.
    49. Kim, Hyun-Dong & Kim, Yura & Mantecon, Tomas & Song, Kyojik Roy, 2019. "Short-term institutional investors and agency costs of debt," Journal of Business Research, Elsevier, vol. 95(C), pages 195-210.
    50. Hossain, Ashrafee & Masum, Abdullah-Al & Benkraiem, Ramzi, 2024. "Long-term institutional investors and climate change news Beta," Journal of Corporate Finance, Elsevier, vol. 89(C).
    51. Kim, Donghan & Kim, Hyun-Dong & Joe, Denis Yongmin & Oh, Ji Yeol Jimmy, 2021. "Institutional investor heterogeneity and market price dynamics: Evidence from investment horizon and portfolio concentration," Journal of Financial Markets, Elsevier, vol. 54(C).
    52. Amin, Abu S. & Dutta, Shantanu & Saadi, Samir & Vora, Premal P., 2015. "Institutional shareholding and information content of dividend surprises: Re-examining the dynamics in dividend-reappearance era," Journal of Corporate Finance, Elsevier, vol. 31(C), pages 152-170.
    53. Najah Attig & Paul Brockman, 2017. "The Local Roots of Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 142(3), pages 479-496, May.
    54. Driss, Hamdi & Drobetz, Wolfgang & El Ghoul, Sadok & Guedhami, Omrane, 2021. "Institutional investment horizons, corporate governance, and credit ratings: International evidence," Journal of Corporate Finance, Elsevier, vol. 67(C).
    55. Elyas Elyasiani & Yuan Wen & Rongrong Zhang, 2017. "Institutional Ownership And Earning Management By Bank Holding Companies," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 40(2), pages 147-178, June.
    56. Shen, Carl Hsin-han & Zhang, Hao, 2020. "What's good for you is good for me: The effect of CEO inside debt on the cost of equity," Journal of Corporate Finance, Elsevier, vol. 64(C).

  67. Attig, Najah & Cleary, Sean & El Ghoul, Sadok & Guedhami, Omrane, 2012. "Institutional investment horizon and investment–cash flow sensitivity," Journal of Banking & Finance, Elsevier, vol. 36(4), pages 1164-1180.

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    1. Najah Attig & Sean Cleary & Sadok El Ghoul & Omrane Guedhami, 2013. "Institutional Investment Horizons and the Cost of Equity Capital," Financial Management, Financial Management Association International, vol. 42(2), pages 441-477, June.
    2. Attig, Najah & Chen, Ruiyuan & El Ghoul, Sadok & Guedhami, Omrane & Kwok, Chuck & Pittman, Jeffrey, 2020. "Are insiders equal? Evidence from earnings management in closely held East Asian firms," Research in International Business and Finance, Elsevier, vol. 54(C).
    3. Jafarinejad, Mohammad & Jory, Surendranath R. & Ngo, Thanh N., 2015. "The effects of institutional ownership on the value and risk of diversified firms," International Review of Financial Analysis, Elsevier, vol. 40(C), pages 207-219.
    4. Firth, Michael & Gao, Jin & Shen, Jianghua & Zhang, Yuanyuan, 2016. "Institutional stock ownership and firms’ cash dividend policies: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 65(C), pages 91-107.
    5. Wang, Xianjue, 2022. "Disloyal managers and proxy voting," Finance Research Letters, Elsevier, vol. 44(C).
    6. Chemmanur, Thomas J. & Shen, Yao & Xie, Jing, 2025. "Unlocking strategic alliances: The role of common institutional blockholders in promoting collaboration and trust," Journal of Financial Stability, Elsevier, vol. 76(C).
    7. Drobetz, Wolfgang & Ehlert, Sebastian & Schröder, Henning, 2021. "Institutional ownership and firm performance in the global shipping industry," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 146(C).
    8. Mian, Rehman U. & Irfan, Saadia & Mian, Affan, 2023. "Foreign institutional investment horizon and earnings management: Evidence from around the world," International Review of Financial Analysis, Elsevier, vol. 86(C).
    9. Peng Han & Feng Niu & Wunhong Su, 2021. "Influencing Factors of Institutional Investors Shareholding Stability," SAGE Open, , vol. 11(4), pages 21582440211, October.
    10. Sprenger, Carsten & Lazareva, Olga, 2022. "Corporate governance and investment-cash flow sensitivity: Evidence from Russian unlisted firms," Journal of Comparative Economics, Elsevier, vol. 50(1), pages 71-100.
    11. Mohammad Moradi & Hassan Yazdifar & Hoda Eskandar & Navid Reza Namazi, 2022. "Institutional Ownership and Investment Efficiency: Evidence from Iran," JRFM, MDPI, vol. 15(7), pages 1-17, June.
    12. Drobetz, Wolfgang & Janzen, Malte & Requejo, Ignacio, 2019. "Capital allocation and ownership concentration in the shipping industry," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 122(C), pages 78-99.
    13. Attig, Najah & El Ghoul, Sadok & Hossain, Ashrafee, 2026. "Stakeholder-centric corporate misconduct and financing policies: A precautionary tale," Journal of Banking & Finance, Elsevier, vol. 182(C).
    14. He, Wen & Mi, Lin, 2022. "Institutional investors’ horizon and equity-financed payouts," Journal of Banking & Finance, Elsevier, vol. 134(C).
    15. Simon Döring & Wolfgang Drobetz & Sadok El Ghoul & Omrane Guedhami & Henning Schröder, 2021. "Institutional investment horizons and firm valuation around the world," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(2), pages 212-244, March.
    16. Beccalli, Elena & Frantz, Pascal & Lenoci, Francesca, 2018. "Hidden effects of bank recapitalizations," LSE Research Online Documents on Economics 89252, London School of Economics and Political Science, LSE Library.
    17. Döring, Simon & Drobetz, Wolfgang & El Ghoul, Sadok & Guedhami, Omrane & Schröder, Henning, 2021. "Cross-country determinants of institutional investors’ investment horizons," Finance Research Letters, Elsevier, vol. 39(C).
    18. Kilincarslan, Erhan & Ozdemir, Ozgur, 2018. "Institutional investment horizon and dividend policy: An empirical study of UK firms," Finance Research Letters, Elsevier, vol. 24(C), pages 291-300.
    19. Erragragui, Elias & Peillex, Jonathan & Benlemlih, Mohammed & Bitar, Mohammad, 2023. "Stock market reactions to corporate misconduct: The moderating role of legal origin," Economic Modelling, Elsevier, vol. 121(C).
    20. Pukthuanthong, Kuntara & Turtle, Harry & Walker, Thomas & Wang, Jun, 2017. "Litigation risk and institutional monitoring," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 342-359.
    21. Basu, Debarati & Sen, Kaustav, 2022. "Organizational form and access to capital: The role of regulatory interventions," Journal of Contemporary Accounting and Economics, Elsevier, vol. 18(3).
    22. Blake Rayfield & Omer Unsal, 2019. "Institutional Monitoring and Litigation Risk: Evidence from Employee Disputes," NFI Working Papers 2019-WP-02, Indiana State University, Scott College of Business, Networks Financial Institute.
    23. Itzkowitz, Jennifer, 2015. "Buyers as stakeholders: How relationships affect suppliers' financial constraints," Journal of Corporate Finance, Elsevier, vol. 31(C), pages 54-66.
    24. Abdelsalam, Omneya & Chantziaras, Antonios & Batten, Jonathan A. & Aysan, Ahmet Faruk, 2021. "Major shareholders’ trust and market risk: Substituting weak institutions with trust," Journal of Corporate Finance, Elsevier, vol. 66(C).
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    1. Kun Su, 2019. "Does religion benefit corporate social responsibility (CSR)? Evidence from China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(6), pages 1206-1221, November.
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    5. Leon Zolotoy & Don O’Sullivan & Keke Song, 2021. "The Role of Ethical Standards in the Relationship Between Religious Social Norms and M&A Announcement Returns," Journal of Business Ethics, Springer, vol. 170(4), pages 721-742, May.
    6. Alabbad, Amal & Al Saleem, Jafar & Kabir Hassan, M., 2022. "Does religious diversity play roles in corporate environmental decisions?," Journal of Business Research, Elsevier, vol. 148(C), pages 489-504.
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    9. Brahmana, Rayenda Khresna & You, Hui Wei, 2022. "Do Muslim CEOs and Muslim stakeholders prefer Islamic debt financing?," Global Finance Journal, Elsevier, vol. 54(C).
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    142. Sivathaasan Nadarajah & Muhammad Atif & Ammar Ali Gull, 2022. "State-Level Culture and Workplace Diversity Policies: Evidence from US Firms," Journal of Business Ethics, Springer, vol. 177(2), pages 443-462, May.
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    145. Wang, Hongzhi & Xiang, Xin & Han, Liang, 2023. "Financial development, legal systems and SME finance: Cross-country evidence," International Review of Economics & Finance, Elsevier, vol. 88(C), pages 981-1002.
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    150. Jiří Kučera & Marek Vochozka & Zuzana Rowland, 2021. "The Ideal Debt Ratio of an Agricultural Enterprise," Sustainability, MDPI, vol. 13(9), pages 1-17, April.
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    153. Cai, Ye & Pan, Carrie H. & Statman, Meir, 2016. "Why do countries matter so much in corporate social performance?," Journal of Corporate Finance, Elsevier, vol. 41(C), pages 591-609.
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    157. Paulo Miguel Gama & Fátima Sol Murta & Elisabete S. Vieira, 2024. "Local banking development and SME conservative financing policy. Does bank branch density matter?," Small Business Economics, Springer, vol. 63(4), pages 1747-1765, December.
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    Cited by:

    1. Matilde Pulido & Victor Barros, 2017. "Corporate Tax Avoidance And Ex Ante Equity Cost Of Capital In Europe," Portuguese Journal of Management Studies, ISEG, Universidade de Lisboa, vol. 22(1), pages 51-74.
    2. Caballé, Jordi & Dumitrescu, Ariadna, 2020. "Disclosure of corporate tax reports, tax enforcement, and price information," Journal of Banking & Finance, Elsevier, vol. 121(C).
    3. Chen Ma & Maoyong Cheng & Gerald J. Lobo, 2024. "How Do Tax Agents Respond to Anti-corruption Intensity?," Journal of Business Ethics, Springer, vol. 190(1), pages 137-164, February.
    4. Theodora Bermpei & Antonios Nikolaos Kalyvas & Simon Wolfe, 2024. "Does IRS Monitoring Matter for the Cost of Bank Loans?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 65(2), pages 153-188, June.
    5. Liguang Zhang & Wanyi Chen & Liao Peng, 2023. "The impact of tax enforcement on corporate investment efficiency: evidence from the tax administration information system," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(2), pages 1635-1669, June.
    6. Jian Chu & Yaowen Shan & Gary Gang Tian, 2025. "Corrupt tax bureau commissioners and corporate tax avoidance," Review of Accounting Studies, Springer, vol. 30(2), pages 1873-1915, June.
    7. Jian Zhang & Ningzhi Wang & Xinyu Zhu & Xiao Yi, 2024. "Does the supply of tax information affect financial restatements? Evidence from the launch of Taxation Administration Information System III in China," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-13, December.
    8. Yibiao Chen & Steven S. Wang & Wilson H. S. Tong & Hui Zhu, 2017. "Economic freedom and IPO underpricing," Frontiers of Business Research in China, Springer, vol. 11(1), pages 1-22, December.
    9. Li, Donghui & Zhang, Zhanxiang & Gao, Xin, 2025. "The impact of carbon emission trading system on the implied cost of equity capital," International Review of Economics & Finance, Elsevier, vol. 101(C).
    10. T. J. Atwood & Christina Lewellen, 2019. "The Complementarity between Tax Avoidance and Manager Diversion: Evidence from Tax Haven Firms," Contemporary Accounting Research, John Wiley & Sons, vol. 36(1), pages 259-294, March.
    11. Xu, Lingling & Huang, Xiaodi & Liu, Guanchun & Liu, Yuanyuan, 2023. "Tax authority enforcement and stock price crash risk: Evidence from China," Finance Research Letters, Elsevier, vol. 55(PA).
    12. Nan-Ting Kuo & Cheng-Few Lee, 2016. "A potential benefit of increasing book–tax conformity: evidence from the reduction in audit fees," Review of Accounting Studies, Springer, vol. 21(4), pages 1287-1326, December.
    13. Ni, Xiaoran & Yin, David, 2023. "Is institutional common ownership commonly priced? Insights from the cost of equity capital," Journal of Banking & Finance, Elsevier, vol. 155(C).
    14. Akinloye Akindayomi & Gideon T. Akinleye & Adeduro A. Ogunmakin, 2018. "Empirical Evidence On The Relationship Between Audit Probability And Internal Revenue Service Budget Levels," Accounting & Taxation, The Institute for Business and Finance Research, vol. 10(1), pages 1-21.
    15. Chen, Dong & Li, Yi & Lu, Jiani & Li, Chenming, 2024. "Do international tax treaties govern financial report quality?," Research in International Business and Finance, Elsevier, vol. 69(C).
    16. Ariadna Dumitrescu & Jordi Caballé, 2016. "Disclosure of Corporate Tax Reports, Tax Enforcement, and Insider Trading," Working Papers 911, Barcelona School of Economics.
    17. Andrew Belnap & Jeffrey L. Hoopes & Edward L. Maydew & Alex Turk, 2024. "Real effects of tax audits," Review of Accounting Studies, Springer, vol. 29(1), pages 665-700, March.
    18. Zhu, Jun & Yang, Zhiwei, 2024. "How does flexible tax enforcement affect TFP? China’s exceptional approach," Journal of Asian Economics, Elsevier, vol. 94(C).
    19. Alessandro Zattoni & Emmanouil Dedoulis & Stergios Leventis & Hans Van Ees, 2020. "Corporate governance and institutions—A review and research agenda," Corporate Governance: An International Review, Wiley Blackwell, vol. 28(6), pages 465-487, November.
    20. Kerr, Jon N., 2019. "The value relevance of taxes: International evidence on the proxy for profitability role of tax surprise," Journal of Accounting and Economics, Elsevier, vol. 67(2), pages 297-305.
    21. Banerjee, Rajabrata & Gupta, Kartick & Krishnamurti, Chandrasekhar, 2022. "Does corrupt practice increase the implied cost of equity?," Journal of Corporate Finance, Elsevier, vol. 73(C).
    22. Chen, Wanyi & Xu, Jingyu, 2024. "Can digital tax enforcement reduce the risk of corporate debt default?," Economic Analysis and Policy, Elsevier, vol. 83(C), pages 1041-1060.
    23. Zhang, Jian & Wang, Ningzhi & Wu, Wenruo & Zhu, Xinyu, 2025. "Tax information and corporate environmental investment," International Review of Financial Analysis, Elsevier, vol. 97(C).

  71. El Ghoul, Sadok & Guedhami, Omrane & Kwok, Chuck C.Y. & Mishra, Dev R., 2011. "Does corporate social responsibility affect the cost of capital?," Journal of Banking & Finance, Elsevier, vol. 35(9), pages 2388-2406, September.

    Cited by:

    1. Chang, Chiu-Lan & Zhang, Jiahui & Lin, Yu-En, 2024. "Climate policy uncertainty, corporate social responsibility and corporate investments of the energy firms," Energy Economics, Elsevier, vol. 140(C).
    2. Otgontsetseg Erhemjamts & Qian Li & Anand Venkateswaran, 2013. "Corporate Social Responsibility and Its Impact on Firms’ Investment Policy, Organizational Structure, and Performance," Journal of Business Ethics, Springer, vol. 118(2), pages 395-412, December.
    3. Pattanaporn Chatjuthamard & Sirimon Treepongkaruna & Pornsit Jiraporn & Napatsorn Jiraporn, 2021. "Does firm‐level political risk influence corporate social responsibility (CSR)? Evidence from earnings conference calls," The Financial Review, Eastern Finance Association, vol. 56(4), pages 721-741, November.
    4. Kumari, Vineeta & Pandey, Dharen Kumar, 2025. "Market reactions to the central bank’s mandate on climate-related financial risk disclosures: Evidence from the Indian banking sector," Finance Research Letters, Elsevier, vol. 84(C).
    5. Henke, Hans-Martin, 2016. "The effect of social screening on bond mutual fund performance," Journal of Banking & Finance, Elsevier, vol. 67(C), pages 69-84.
    6. Krzysztof Kluza & Anna Chmielewska, 2025. "Sustainable Corporate Development: Shareholder Value and Environmental, Social and Governance Risk Ratings in Central European Capital Markets," Sustainability, MDPI, vol. 17(21), pages 1-20, October.
    7. Peixin Li & Rongxi Zhou & Yahui Xiong, 2020. "Can ESG Performance Affect Bond Default Rate? Evidence from China," Sustainability, MDPI, vol. 12(7), pages 1-12, April.
    8. Richard Anthony Kent & Di Bu, 2020. "The importance of cash flow disclosure and cost of capital," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(S1), pages 877-908, April.
    9. Doukas, John A. & Zhang, Rongyao, 2021. "Managerial ability, corporate social culture, and M&As," Journal of Corporate Finance, Elsevier, vol. 68(C).
    10. Mostafa Monzur Hasan & Ahsan Habib & Ruoyun Zhao, 2022. "Corporate reputation risk and cash holdings," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(1), pages 667-707, March.
    11. Minghui Yang & Yan Wang & Lu Bai & Petra Maresova, 2023. "Corporate social responsibility, family involvement, and stock price crash risk," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(3), pages 1204-1225, May.
    12. Bae, Sung C. & Chang, Kiyoung & Yi, Ha-Chin, 2018. "Are more corporate social investments better? Evidence of non-linearity effect on costs of U.S. Bank loans," Global Finance Journal, Elsevier, vol. 38(C), pages 82-96.
    13. Ouissal El Aziz & Abdelkarim Asdiou, 2025. "AI-powered analysis of ESG disclosure: a clustering approach to determinants and motivations," Future Business Journal, Springer, vol. 11(1), pages 1-20, December.
    14. Kuo-Jung Lee, 2018. "Valuations and Decisions of Investing in Corporate Social Responsibility: A Real Options Viewpoint," Sustainability, MDPI, vol. 10(10), pages 1-14, October.
    15. Görgen, Maximilian & Jacob, Stefan & Rohleder, Martin & Wilkens, Marco, 2025. "The impact of ESG preferences on stock borrowing volumes and fees," Finance Research Letters, Elsevier, vol. 85(PD).
    16. Wu, Dejun & Lin, Chen & Liu, Sibo, 2016. "Does community environment matter to corporate social responsibility?," Finance Research Letters, Elsevier, vol. 18(C), pages 127-135.
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    18. Igor Davydenko & Meike Hopman & Ruben Fransen & Jorrit Harmsen, 2022. "Mass-Balance Method for Provision of Net Zero Emission Transport Services," Sustainability, MDPI, vol. 14(10), pages 1-20, May.
    19. Zabihollah Rezaee & Ling Tuo, 2019. "Are the Quantity and Quality of Sustainability Disclosures Associated with the Innate and Discretionary Earnings Quality?," Journal of Business Ethics, Springer, vol. 155(3), pages 763-786, March.
    20. Xin Deng & Cher Li & Simona Mateut, 2020. "Participation in setting technology standards and the implied cost of equity," Discussion Papers 2020-29, University of Nottingham, GEP.
    21. Agnieszka Piechocka-Kaluzna & Agnieszka Tluczak & Pawel Lopatka, 2021. "The Impact of CSR/ESG on the Cost of Capital: A Case Study of US Companies," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 2), pages 536-546.
    22. Yuan Yuan & Gaoliang Tian & Louise Yi Lu & Yangxin Yu, 2019. "CEO Ability and Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 157(2), pages 391-411, June.
    23. Lin Liao & Yukun Pan & Daifei (Troy) Yao, 2023. "Capital market liberalisation and voluntary corporate social responsibility disclosure: Evidence from a quasi‐natural experiment in China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(2), pages 2677-2715, June.
    24. Boubaker, Sabri & Chebbi, Kaouther & Grira, Jocelyn, 2020. "Top management inside debt and corporate social responsibility? Evidence from the US," The Quarterly Review of Economics and Finance, Elsevier, vol. 78(C), pages 98-115.
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    26. Bardos, Katsiaryna Salavei & Mishra, Dev R. & Somé, Hyacinthe Y., 2025. "Firm-level climate sentiments, climate politics and implied cost of equity capital," Journal of Corporate Finance, Elsevier, vol. 94(C).
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    28. Nair, Rajiv & Muttakin, Mohammad & Khan, Arifur & Subramaniam, Nava & Somanath, V.S., 2019. "Corporate social responsibility disclosure and financial transparency: Evidence from India," Pacific-Basin Finance Journal, Elsevier, vol. 56(C), pages 330-351.
    29. Jongmoo Jay Choi & Hoje Jo & Jimi Kim & Moo Sung Kim, 2018. "Business Groups and Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 153(4), pages 931-954, December.
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    33. Malik, Mahfuja & Mamun, Khawaja & Osman, Syed Muhammad Ishraque, 2025. "Does corruption control enhance ESG-induced firm value? Insights from machine learning analysis," Finance Research Letters, Elsevier, vol. 72(C).
    34. James E. Upson & Chao Wei, 2024. "Supply chain concentration and cost of capital," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(1), pages 607-634, March.
    35. Remmer Sassen & Anne-Kathrin Hinze & Inga Hardeck, 2016. "Impact of ESG factors on firm risk in Europe," Journal of Business Economics, Springer, vol. 86(8), pages 867-904, November.
    36. Chen, Yuyang & Zhu, Shuyi, 2025. "Integrity atmosphere and the cost of equity: Evidence from China," Emerging Markets Review, Elsevier, vol. 68(C).
    37. Farah Zamir & Abubakr Saeed, 2020. "Location matters: Impact of geographical proximity to financial centers on corporate social responsibility (CSR) disclosure in emerging economies," Asia Pacific Journal of Management, Springer, vol. 37(1), pages 263-295, March.
    38. Alice Monti & Pierpaolo Pattitoni & Barbara Petracci & Otto Randl, 2022. "Does corporate social responsibility impact equity risk? International evidence," Review of Quantitative Finance and Accounting, Springer, vol. 59(3), pages 825-855, October.
    39. Bouslah, Kais & Kryzanowski, Lawrence & M’Zali, Bouchra, 2013. "The impact of the dimensions of social performance on firm risk," Journal of Banking & Finance, Elsevier, vol. 37(4), pages 1258-1273.
    40. Xu, Qifa & Ruan, Changyu & Jiang, Cuixia & Zhao, Qinna, 2025. "The impact of ESG performance on debt financing costs from the perspective of supply chain," The Quarterly Review of Economics and Finance, Elsevier, vol. 104(C).
    41. Miwako Nitani & Brian Carriere & Adam Bleackley, 2015. "Recognizing corporate citizenship: market reactions," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 5(1-2), pages 85-102, April.
    42. Dongmin Kong & Xiandong Yang & Chen Liu & Wei Yang, 2020. "Business strategy and firm efforts on environmental protection: Evidence from China," Business Strategy and the Environment, Wiley Blackwell, vol. 29(2), pages 445-464, February.
    43. Ye Cai & Hoje Jo & Carrie Pan, 2012. "Doing Well While Doing Bad? CSR in Controversial Industry Sectors," Journal of Business Ethics, Springer, vol. 108(4), pages 467-480, July.
    44. Arouri, Mohamed & El Ghoul, Sadok & Gomes, Mathieu, 2021. "Greenwashing and product market competition," Finance Research Letters, Elsevier, vol. 42(C).
    45. Jan Diebecker & Friedrich Sommer, 2017. "The impact of corporate sustainability performance on information asymmetry: the role of institutional differences," Review of Managerial Science, Springer, vol. 11(2), pages 471-517, March.
    46. Mussa Hussaini & Ugo Rigoni & Paolo Perego, 2023. "The strategic choice of payment method in takeovers: The role of environmental, social and governance performance," Business Strategy and the Environment, Wiley Blackwell, vol. 32(1), pages 200-219, January.
    47. Byun, Seong K. & Han, Sulei & Oh, Jong-Min & Xu, Jing, 2025. "ESG complementarity in emerging market: Evidence from China," Finance Research Letters, Elsevier, vol. 73(C).
    48. Rui Coelho & Shital Jayantilal & Joao J. Ferreira, 2023. "The impact of social responsibility on corporate financial performance: A systematic literature review," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(4), pages 1535-1560, July.
    49. Pornanong Budsaratragoon & Boonlert Jitmaneeroj, 2021. "Corporate Sustainability and Stock Value in Asian–Pacific Emerging Markets: Synergies or Tradeoffs among ESG Factors?," Sustainability, MDPI, vol. 13(11), pages 1-25, June.
    50. Hans B. Christensen & Luzi Hail & Christian Leuz, 2021. "Mandatory CSR and sustainability reporting: economic analysis and literature review," Review of Accounting Studies, Springer, vol. 26(3), pages 1176-1248, September.
    51. Ahmed Imran Hunjra & Peter Verhoeven & Qasim Zureigat, 2020. "Capital Structure as a Mediating Factor in the Relationship between Uncertainty, CSR, Stakeholder Interest and Financial Performance," JRFM, MDPI, vol. 13(6), pages 1-18, June.
    52. Daeheon Choi & Paul Moon Sub Choi & Joung Hwa Choi & Chune Young Chung, 2020. "Corporate Governance and Corporate Social Responsibility: Evidence from the Role of the Largest Institutional Blockholders in the Korean Market," Sustainability, MDPI, vol. 12(4), pages 1-15, February.
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    2. Boubaker, Sabri & Nguyen, Pascal & Rouatbi, Wael, 2012. "Large shareholders and firm risk-taking behavior," MPRA Paper 39005, University Library of Munich, Germany.
    3. Vo, Xuan Vinh, 2018. "Do firms with state ownership in transitional economies take more risk? Evidence from Vietnam," Research in International Business and Finance, Elsevier, vol. 46(C), pages 251-256.
    4. Carlos Pombo & Cristian Pinto-Gutierrez & Mauricio Jara-BetÔøΩn, 2022. "Multiple large shareholder coalitions, institutional ownership and investment decisions: Evidence from cross-border deals in Latin America," Documentos CEDE 20333, Universidad de los Andes, Facultad de Economía, CEDE.
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