This study examines two channels through which Chinese government intervenes in business activities: direct intervention via government ownership and indirect intervention via strategic development plans in selected areas. The findings show that these interventions affect corporate policies...

Do credit risk transfers in general, and loan sales and securitizations in particular, by financial institutions enhance credit availability and financial stability? Or do they allow assets of poor credit quality to spread to unprotected investors, and thus create financial crises and destroy...

We examine whether the financial market charged a default risk premium to US Treasury securities when the US Federal government repeatedly reached the legally binding debt limits between 2002 and 2006. We show that for the first two of the four recurrences since the first episode in 1996, the...

Purpose – The purpose of this paper is to empirically examine the relationship between firms' inventory accumulation and financial structure. It further investigates the impact of geographical locations on firms' inventory investment decision after controlling for firms' financial structure....

Purpose – The purpose of this paper is to empirically examine the relationship between firms' inventory accumulation and financial structure. It further investigates the impact of geographical locations on firms' inventory investment decision after controlling for firms' financial structure....

Purpose The purpose of this study is to examine whether banks’ commitment to corporate social responsibility (CSR) is related to the diversification of their activities and whether CSR, as a result, affects banks’ risk profile. Design/methodology/approach Using a sample of 215 publicly...