Suboptimal investment either in terms of overinvestment or underinvestment is a value-destroying activity. This study examines the role of foreign institutional ownership, on Investment decisions and speed of adjustment to target investment. Based on a US sample of 11,690 firm - year...

This study examines whether information about a firm’s engagement in environmental, social and governance (ESG) practices is material to market participants. Evidence from a sample of 1,856 IPOs by US companies for the 2007-2018 period robustly documents that firms for which there is available...